Petco posts Q3 net loss of $1.2B on $1.49B revenue; non-cash impairment charge

Petco Health & Wellness Company, Inc.

2023-Q3 EPS reported -$4.71 revenue$4,580,808,000

GAAP net loss of $1.2B ($4.63 per share) includes $1.2B non-cash goodwill impairment from 2015.
Net revenue $1.49B, down 0.5% YoY; comparable sales flat YoY but up 4.1% two-year.
Adjusted EBITDA fell to $72.2M from $120.2M YoY; adjusted EPS $(0.05) vs $0.11.
Operating cash flow $34.4M vs $109.4M YoY; free cash flow negative $(28.1)M.
Year-to-date free cash flow $(7.8)M vs $(2.6)M in prior year period.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Petco Health & Wellness Company, Inc. reported quarter ended October 28, 2023 results: revenue $1.49 billion, net income $(1.2 billion), or $(4.63) per share, EPS $(4.63) per share.

Period: quarter ended October 28, 2023
Revenue: $1.49 billion
Net income: $(1.2 billion), or $(4.63) per share
EPS: $(4.63) per share
Result: reported results

Exact text from the filing

Company, Inc. Reports Third Quarter Earnings Q3 2023 Operating Results • Comparable sales flat year-over-year and increased 4.1 percent on a two-year basis • Net revenue of $1.49 billion decreased 0.5 percent year-over-year • GAAP net loss of $1.2 billion, or $(4.63) per share, reflecting a $1.2 billion non-cash goodwill impairment charge associated with goodwill

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Source: SEC EDGAR

accession 0000950170-23-066548

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