The 10-second takeaway
For the quarter ended June 30 (Q1), PetMed Express beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share increased significantly.
Margins increased across the board.
PetMed Express reported revenue of $74.2 million. The seven analysts polled by S&P Capital IQ expected net sales of $70.0 million on the same basis. GAAP reported sales were 7.6% higher than the prior-year quarter's $69.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.24. The seven earnings estimates compiled by S&P Capital IQ forecast $0.22 per share. GAAP EPS of $0.24 for Q1 were 20% higher than the prior-year quarter's $0.20 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.4%, 10 basis points better than the prior-year quarter. Operating margin was 10.1%, 110 basis points better than the prior-year quarter. Net margin was 6.4%, 70 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $59.0 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $233.3 million. The average EPS estimate is $0.88.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 870 members out of 900 rating the stock outperform, and 30 members rating it underperform. Among 243 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 238 give PetMed Express a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PetMed Express is hold, with an average price target of $12.70.
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