Q3业绩超预期 Chewy(CHWY.US)涨4%

Core Viewpoint - Chewy reported better-than-expected Q3 results, but its guidance for Q4 and the full year disappointed investors [1][2] Group 1: Q3 Performance - Chewy's revenue grew by 8.3% year-over-year to $3.12 billion, significantly boosting profits by 60% [1] - Earnings per share (EPS) reached $0.32, exceeding market expectations [1] - Growth was driven by an increase in Autoship orders, higher sales per active customer, and a 5% year-over-year increase in active customer count [1] - The proportion of sales from Autoship customers increased by 90 basis points to 83.9%, indicating enhanced customer loyalty [1] - Other financial metrics improved, including a 30.9% increase in adjusted operating income, a 100 basis point rise in adjusted EBITDA margin, and a 180 basis point increase in net profit margin [1] - Net cash generated from operating activities rose by 13.3% to $207.9 million, contributing to a 15.8% increase in free cash flow to $175.8 million [1] Group 2: Future Guidance - For Q4, Chewy expects EPS to be in the range of $0.24 to $0.27, and revenue is projected to be between $3.24 billion and $3.26 billion, both below market estimates [2] - For the full year, Chewy raised its sales guidance to $12.58 billion to $12.67 billion, slightly above previous guidance but still disappointing compared to some market expectations of $12.67 billion [2]