Petco Health And Wellness Boosts FY21 Outlook As Q3 Results Top Estimates - Quick Facts

(RTTNews) - While reporting its financial results for the third quarter on Thursday, pet health and wellness firm Petco Health and Wellness Co., Inc. (WOOF) raised its adjusted earnings and revenue guidance for the full-year 2021.

For fiscal 2021, the company now projects adjusted earnings in a range of $0.86 to $0.88 per share on revenues between $5.725 billion and $5.775 billion.

Previously, the company expected adjusted earnings in the range of $0.81 to $0.85 per share on revenues between $5.60 billion and $5.70 billion. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share on revenues of $5.67 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, net income attributable to shareholders soared to $52.75 million or $0.20 per share from $3.40 million or $0.02 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.20 per share, compared to last year's $0.07 per share.

Sales for the quarter increased 15 percent to $1.44 billion from $1.26 billion in the same quarter last year. Comp sales growth was 15 percent.

The Street was looking for earnings of $0.18 per share on net sales of $1.37 billion for the quarter.