- Petmed Express Inc (NASDAQ:PETS) reported a first-quarter FY22 sales decline of 11.5% year-on-year, to $70.20 million, missing the analyst consensus estimate of $78.25 million.
- The gross profit for the quarter declined 8.4% Y/Y to $19.9 million, and the gross margin contracted 90 basis points to 28.4%.
- The operating margin was 5%, and operating income for the quarter fell 35.6% to $3.4 million.
- The company held $105.4 million in cash and equivalents as of June 30, 2022. Cash provided by operating activities for the quarter totaled $6.4 million.
- Adjusted EBITDA decreased 10% Y/Y to $6.3 million.
- Adjusted EPS of $0.14 missed the analyst consensus of $0.25.
- “We knew early in the quarter that the colder temperatures, particularly in April, would have a material impact on sales due to the delay in our seasonally sensitive flea and tick business,” said CEO Matt Hulett.
- The Board of Directors declared a quarterly dividend of $0.30 per share, payable on August 19, 2022, to shareholders of record at the close of business on August 12, 2022.
- Price action: PETS shares are trading lower by 10.60% at $18.51 in premarket on the last check Tuesday.
Acuity Brands, RPM International, LiveVox Holdings And Other Big Stocks Moving Higher On Wednesday
U.S. stocks traded mixed, with the Nasdaq Composite gaining around 30 points on Wednesday. Here are some big stocks recording gains in today’s session.
