Loading...
•
Jun 30, 2020
PetMed Express Q1 2021 Earnings Report
Reported record first quarter financial results with a 20% increase in sales and a 47% increase in diluted earnings per share.
Key Takeaways
PetMed Express reported a strong first quarter with a 20% increase in net sales, driven by the shift of consumers to online purchasing. Earnings per share increased by 47% due to sales growth and improved operating income margins.
Net sales increased by 20% to $96.2 million compared to the same quarter last year.
Diluted earnings per share rose by 47% to $0.39 compared to $0.26 in the prior year.
New order sales increased by 29% to $15.8 million.
The company acquired approximately 186,000 new customers, compared to 140,000 in the same period the prior year.
PetMed Express
PetMed Express
Forward Guidance
The company is focusing on redesigning its website and mobile app to optimize customer's digital experience and intends to continue to pay regular quarterly dividends.
Positive Outlook
- Demand in the ecommerce channel continued to be strong.
- Operating income margins improved by 210 basis points.
- Advertising became more efficient, reducing customer acquisition cost.
- The company has been open during normal business hours without any material disruptions.
- Focusing on redesigning website and mobile app to optimize customers’ digital experience.
Challenges Ahead
- Increased inventory as a precaution due to potential supply chain disruptions.
- Future dividend payments are discretionary and subject to Board of Directors' review.
- The company's future results may be impacted by other risk factors listed from time to time in its SEC filings.
- May contain “forward-looking” statements that involve a number of risks and uncertainties.
- The Company’s ability to meet the objectives included in its business plan.