Petco beats profitability goals in FY2025; reduces leverage to 3.0x; provides FY2026 outlook

Petco Health & Wellness Company, Inc.

2025-FY EPS reported $0.03 revenue$5,961,467,000

Q4 net sales $1.5B (-2.4% YoY); comps -1.6%; Adjusted EBITDA $106.3M (+10.6%), above outlook.
Full year net sales $6.0B (-2.5%); net income $9.1M vs loss of $101.8M; Adjusted EBITDA $408.2M (+21.3%).
Leverage ratio improved from 4.2x to 3.0x; debt refinanced with $900M term loan and $600M bond, maturities extended to 2031.
FY2026 guidance: net sales flat to +1.5% YoY; Adjusted EBITDA $415M-$430M; Q1 Adjusted EBITDA $92M-$94M.
Free cash flow $187M, up 276.3%; inventory down 9.7%; net store closures ~15-20 for FY2026.

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