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Dec 31, 2021
PetMed Express Q3 2022 Earnings Report
Net sales and net income decreased compared to the same quarter last year.
Key Takeaways
PetMed Express reported a decrease in net sales and net income for the quarter ended December 31, 2021. Net sales decreased by 7.9% to $60.7 million, and net income decreased by 44% to $4.3 million, or $0.21 diluted per share. The company is executing a business transformation across people, process, and product to develop into a broader expert health and wellness offering.
Net sales decreased by 7.9% to $60.7 million compared to $65.9 million for the quarter ended December 31, 2020.
Net income decreased by 44% to $4.3 million, or $0.21 diluted per share, compared to $7.6 million, or $0.38 diluted per share, for the quarter ended December 31, 2020.
Adjusted EBITDA decreased by 31% to $7.6 million, or $0.37 diluted per share, compared to $11.0 million, or $0.55 diluted per share, for the quarter ended December 31, 2020.
The Board of Directors declared a quarterly dividend of $0.30 per share on the Company’s common stock.
PetMed Express
PetMed Express
Forward Guidance
The company intends to continue to pay regular quarterly dividends; however, the declaration and payment of future dividends is discretionary and will be subject to a determination by the Board of Directors each quarter following its review of the Company’s financial performance.