Chewy (CHWY) Company Report

Chewy Inc. is acquiring SmartPak Equine from Covetrus in an all-cash deal expected to close in the fourth quarter of Chewy's fiscal 2025, aiming to expand its presence in the equine health market and accelerate growth in higher-margin health and wellness verticals.
Chewy plans to finance the acquisition through existing resources and has reaffirmed its positive financial outlook for fiscal 2025.
The company also reaffirmed its third quarter fiscal 2025 financial guidance, projecting earnings per share between $0.28 and $0.33 on sales of $3.07 billion to $3.1 billion, surpassing consensus estimates.
Chewy demonstrates strong financial health with robust revenue growth of approximately 8.6% over the past three years, a moderate debt-to-equity ratio of 1.27, and an Altman Z-Score of 6.42, indicating low bankruptcy risk.

Oct 30, 2025, 10:58 PM

Morningstar

Chewy to Acquire SmartEquine

CHWY

M&A

New Projects/Investments

Guidance Update

Chewy, Inc. (CHWY) has entered into a definitive agreement to acquire SmartPak Equine, LLC (SmartEquine), a leading U.S. provider of equine health products, from Covetrus, Inc..
This acquisition is expected to strengthen Chewy's position in the equine category, accelerate its expansion into higher-margin health and wellness verticals, and be adjusted EBITDA margin accretive upon closing.
The transaction is an all-cash deal, anticipated to be financed through Chewy's existing balance sheet, and is expected to close in Chewy's fourth quarter of fiscal year 2025.
Chewy also reaffirms its third quarter fiscal year 2025 financial guidance.

Oct 30, 2025, 3:00 PM

Press Release

ICG Enterprise Trust Reports Unaudited Interim Results for H1 FY26

CHWY

Earnings

Dividends

Share Buyback

ICG Enterprise Trust's NAV per Share stood at 2,040p as of 31 July 2025, with a NAV per Share Total Return of (0.7)% for the six months ended 31 July 2025, primarily impacted by a (2.0)% negative foreign exchange effect.
The company demonstrated strong cash generation, reporting Total Proceeds of £222m for H1 FY26, a substantial increase from £86m in H1 FY25, and achieved £109m in Portfolio net cash generation.
New Investments reached £113m during the period, with £42m directed towards secondary investments, increasing their representation to 17% of the total Portfolio.
Shareholder returns included £16m in share buybacks and £12m in dividends paid during H1 FY26, contributing to a Share Price Total Return of 12.6% for the half-year.

Oct 7, 2025, 6:02 AM

Press Release

Chewy Reports Strong Q2 2025 Results and Raises Full-Year Sales Outlook

CHWY

Earnings

Guidance Update

Share Buyback

Chewy reported strong Q2 2025 results, with net sales growing nearly 9% year over year to $3.1 billion, exceeding guidance, and achieving a gross margin of 30.4%. The company also saw improved profitability, with adjusted EBITDA reaching $183.3 million (5.9% margin) and adjusted diluted EPS of $0.33.
Customer metrics showed positive trends, with 20.9 million active customers (up 4.5% year over year) and NESPAC reaching $591 (up 4.6% year over year). Autoship sales, a key driver, grew nearly 15% to $2.58 billion, representing 83% of net sales.
The company generated $105.9 million in free cash flow and deployed approximately $125 million towards share repurchases in the quarter.
For the full year 2025, Chewy raised its net sales outlook to between $12.5 billion and $12.6 billion (7% to 8% year-over-year growth) while maintaining its adjusted EBITDA margin outlook of 5.4% to 5.7%. Strategic initiatives like the Chewy Plus membership program (now accounting for roughly 3% of total monthly sales) and the new Get Real private brand fresh dog food are gaining traction.

Sep 10, 2025, 12:00 PM

Transcript

Chewy Completes Secondary Offering and Concurrent Stock Repurchase

CHWY

Share Buyback

Chewy, Inc. announced the closing of a secondary offering by a selling stockholder, Buddy Chester Sub LLC, of 23,952,096 shares of Class A common stock at $41.95 per share on June 25, 2025. The company did not sell any shares or receive any proceeds from this offering.
Concurrently, Chewy, Inc. completed a stock repurchase from the same selling stockholder for an aggregate amount of $100 million on June 25, 2025. This resulted in the repurchase and cancellation of 2,395,210 shares of Class A common stock.

Jun 25, 2025, 12:00 AM

8-K

Chewy offers high-premium long-term options contracts

CHWY

Long-dated options for Chewy Inc. recently became available, allowing investors to secure substantial premiums and discounted entry prices relative to current market levels.
The $40 strike price put contract provides an 11.37% return on cash commitment (11.31% annualized) if it expires worthless, with a 67% probability of expiring worthless and an effective cost basis of $35.45 versus the market price of $42.32.

Jun 16, 2025, 3:02 PM

CNBC

Chewy Inc Special Call Highlights Strategic Initiatives

CHWY

Revenue Acceleration/Inflection

New Projects/Investments

Active customer growth is being driven by Chewy’s enhanced digital initiatives and personalized targeting that improve gross adds, reactivations, and churn management.
Profitability improvements are on track with adjusted EBITDA margins expected to reach around 5.5% this fiscal year, underpinned by gross margin expansion and cost efficiencies.
Strategic investments are underway in high-growth segments including pharmacy (with over $1B in sales), hard goods, and veterinary services through new clinics and partnerships that bolster customer acquisition and retention.
The early rollout of the Chewy+ membership program is showing promise in boosting customer engagement and increasing order frequency as a complement to Autoship.

May 14, 2025, 2:01 PM

Transcript

Chewy Announces Amendment to ABL Credit Agreement

CHWY

Debt Issuance

Chewy, Inc. filed an 8-K report effective April 1, 2025 to disclose material events, including developments related to its financing arrangements.
The filing highlights an amendment to the ABL Credit Agreement, detailed in Exhibit 10.1, involving Chewy, its lenders, and Wells Fargo Bank as the administrative agent.
The report confirms Chewy’s listing on the New York Stock Exchange under ticker CHWY, reinforcing its public trading status.

Apr 2, 2025, 12:00 AM

8-K

Chewy Delivers Strong Q4 2025 Results, Provides 2025 Guidance

CHWY

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 2025 results highlighted robust top-line performance with net sales of $3.25 billion in the quarter and $11.86 billion for full year 2024, driven by strong active customer growth (20.5 million) and solid Autoship performance.
Profitability improved with FY 2024 adjusted EBITDA margin reaching 4.8%, alongside significant free cash flow generation of $452.5 million, underscoring effective operating leverage.
The company reinforced its forward guidance for 2025, expecting net sales between $12.3 billion and $12.45 billion and a full year adjusted EBITDA margin in the range of 5.4% to 5.7%, reflecting a strategy focused on share gains and margin expansion.
Strategic investments continue with planned expansion in healthcare and vet clinics (8 to 10 new openings), complemented by ongoing share repurchase activities to enhance shareholder value.

Mar 26, 2025, 12:01 PM

Transcript

Chewy Inc Reports Q4 2025 Earnings Results

CHWY

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 Net Sales reached $3,247M with a strong YoY growth of 14.9%, while Adjusted EBITDA came in at $125M with a margin of 3.8%.
Autoship Customer Sales totaled $2,617M in Q4, highlighting robust recurring demand.
The company reported returning $943M in capital to shareholders in FY24 and provided guidance for FY25 with expected net sales of $12.30B - $12.45B and Q1 net sales between $3.06B and $3.09B.

Mar 26, 2025, 12:00 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for Chewy.

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