Market Overview

PetSmart Falls on Q4 Results, Weak Outlook

Shares of PetSmart (NASDAQ: PETM) were trading around 7 percent lower in Wednesday's after-hours session following the company's earnings report. PetSmart reported a higher profit for the fourth-quarter, but issued weak fiscal 2013 outlook. Earnings in the period were ahead of Wall Street expectations, but sales missed consensus estimates.

For the quarter, the company reported net income of $134.0 million or $1.24 per share, compared to $102.0 million or $0.91 per share, in last year's corresponding period. This beat Wall Street analysts' consensus EPS estimates of $1.21 for the fourth-quarter.

Sales in the period were up 15 percent to $1.88 billion from $1.64 billion last year. This barely missed Street consensus revenue estimates of $1.89 billion.

Comparable store sales in the quarter were up 4.6 percent.

Looking ahead to Q1, PetSmart said that it sees earnings per share of $0.92 to $0.98 on comparable store sales growth of 2 to 4 percent. Currently, Wall Street analysts have consensus EPS estimates of $0.94 for the fiscal first-quarter.

For the full-year 2013, the company's guidance was below consensus. PetSmart said that it sees full-year EPS of $3.76 to $3.92 on sales growth of 2 to 4 percent. This compares to current consensus earnings per share estimates of $3.93.

Posted-In: Earnings News Guidance After-Hours Center Movers Best of Benzinga

 

Most Popular

Related Articles (PETM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free