Chewy, Inc. (CHWY) Earnings Call Transcripts

Chewy, Inc.'s Latest Earnings Call - Q1 FY2027

In the first quarter of fiscal year 2026, Chewy, Inc. reported net sales of approximately $3.6 billion, reflecting a year-over-year growth of 7.7%. Adjusted EBITDA margin expanded to 7.5%, up 130 basis points from the prior year, showcasing the company's ability to enhance profitability despite a challenging consumer environment. However, management revised its full-year net sales guidance to a range of $13.40 billion to $13.55 billion, indicating a more conservative outlook due to pressures on discretionary spending and premiumization trends among customers.

Reported metrics

Guidance from management

Chewy now expects full-year fiscal 2026 net sales of $13.40 billion to $13.55 billion, reflecting a more conservative outlook. Adjusted EBITDA margin guidance remains at 6.6% to 6.8%.

What management said

So if you try to summarize, we will exit '26 we'll exit 26 with roughly 60 clinics. And then as Chris said, our focus is stabilization and integration alongside ensuring that the synergies that we saw both from modern to Chewy and Chewy to Modern are essentially starting to get unlocked, so we can have a really healthy 2027 relative to those.

Yes, Mike, on the Modern animal EBITDA margin headwind, as we shared when we announced the transaction, we expect modern animal to be generally adjusted EBITDA dollar neutral in 2026. So we shared there's a $70 million revenue or net sales impact for the year, roughly $1 neutral EBITDA, so that provides a modest margin rate drag for the year. From a timing and curve perspective, perhaps that drag is a little higher...

What analysts pressed on

Analysts expressed concerns regarding the impact of the challenging consumer environment on customer acquisition and spending behaviors. There were questions about the sustainability of growth rates and how Chewy plans to navigate the pressures on discretionary spending and premiumization.

Main topics on the call

• Revenue Growth and Customer Additions — Chewy achieved net sales of approximately $3.6 billion, up 7.7% year-over-year, with nearly 200,000 net customer additions. CEO Sumit Singh noted, "We ended the quarter with 21.5 million active customers, up 3.6% year-ov...
• Adjusted EBITDA Margin Expansion — The adjusted EBITDA margin reached 7.5%, representing a 130 basis point increase year-over-year. This reflects the company's effective cost management and operational efficiencies, as highlighted by CFO Chris Deppe stati...
• Guidance Revision — Management revised its full-year net sales guidance to $13.40 billion to $13.55 billion, down from previous expectations. They acknowledged, "We are seeing a modest level of incremental pressure on premiumization and pro...
• Impact of Consumer Environment — The company noted a more challenging consumer backdrop, stating, "The consumer environment has become incrementally more challenged since we initially established our fiscal 2026 outlook earlier this year." This has led ...

Read the full Chewy, Inc. transcript (Q1 FY2027) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 33 Chewy, Inc. earnings call transcripts on record, spanning April 2, 2020 to September 14, 2026. Based on this history, Chewy, Inc. reports quarterly. The most recent call on file is dated September 14, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CHWY

Exchange

NYSE

Country

US

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

33

First call

April 2, 2020

Most recent

September 14, 2026

Reporting cadence

quarterly