Petco Q4 GAAP loss $0.08/sh, adjusted EPS $0.02; CEO Coughlin out, Mohan interim

Petco Health & Wellness Company, Inc.

2023-FY EPS reported -$4.78 revenue$6,255,284,000

Q4 net revenue $1.7B (+6.1% YoY); comparable sales -0.9%; GAAP net loss $22.6M vs prior-year net income $32.7M.
Full-year GAAP net loss $1.3B (incl. $1.2B goodwill impairment); adjusted EPS $0.09 vs $0.61 prior year.
CEO Ron Coughlin stepped down; Board reduced to 10; R. Michael Mohan appointed interim CEO effective March 13.
Mohan compensation: base $1.1M, target bonus 125%, equity awards $8M with exercise price $5.00.
Coughlin to provide transition services through May 1, then consulting at $107,500/month for 12 months.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Ronald V. Coughlin, Jr.

Chief Executive Officer, Chairman and member of the Board

WOOF · Petco Health & Wellness Company, Inc.

Effective: 2024-03-12
Successor: R. Michael Mohan
Filed: March 13, 2024, 7:59 PM ET

Ronald V. Coughlin, Jr., whose role as the Company’s Chief Executive Officer, Chairman and member of the Board ended effective March 12, 2024.

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 fourth quarter and full year 2023 results: revenue $1.7 billion, net income GAAP net loss of $22.6 million or $(0.08) per share, EPS $(0.08) per share.

Period: fourth quarter and full year 2023
Revenue: $1.7 billion
Net income: GAAP net loss of $22.6 million or $(0.08) per share
EPS: $(0.08) per share
Result: reported results

Exact text from the filing

FOR IMMEDIATE RELEASE: March 13, 2024 Petco Health + Wellness Company, Inc. Reports Fourth Quarter and Full Year 2023 Earnings Q4 2023 Highlights • Net revenue of $1.7 billion increased 6.1 percent year over year including the 14 th week • Comparable sales declined 0.9 percent year over year and increased 4.4 percent on a two-year basis • GAAP net loss

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald V. Coughlin, Jr. departed as Chief Executive Officer, Chairman and member of the Board at Petco Health & Wellness Company, Inc..

Action: ended
Role: Chief Executive Officer, Chairman and member of the Board

Exact text from the filing

Ronald V. Coughlin, Jr., whose role as the Company’s Chief Executive Officer, Chairman and member of the Board ended effective March 12, 2024.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

Petco Health & Wellness Company, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-066384

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