secwatch.observer — SEC 8-K summary
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Issuer:     Petco Health & Wellness Company, Inc. (WOOF)
CIK:        0001826470
Form:       8-K
Filed at:   2023-05-24T23:59:59+00:00
Accession:  0000950170-23-023757
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Petco Q1 revenue up 5.4% to $1.56B, net loss $1.9M, reaffirms FY2023 guidance
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- Comparable sales grew 5.1% YoY (18th consecutive quarter); consumables +11.2%, services +25.4%.
- Adjusted EPS $0.06 vs $0.14 prior year; adjusted EBITDA $111.0M, down 6.9% YoY.
- Net loss of $1.9M ($0.01/sh) vs net income $24.7M ($0.09/sh) prior year, driven by higher interest expense.
- Paid down $35M term loan in Q1 and $25M in May; targeting $100M total debt paydown in 2023.
- Company reaffirms full year 2023 guidance; remains focused on de-levering balance sheet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826470/000095017023023757/0000950170-23-023757-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826470/000095017023023757/woof-20230524.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-023757

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