PetIQ, Inc. (PETQ) Misses Q4 EPS by 23c, Revenues Beat; Offers FY19 Revenue Guidance

PetIQ, Inc. (NASDAQ: PETQ) reported Q4 EPS of ($0.16), $0.23 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $111 million versus the consensus estimate of $98.72 million.

• Record fourth quarter net sales of $111.0 million, an increase of 114%; representing organic net sales growth of 70%
• Net loss of $5.3 million compared to a loss of $3.4 million
• Adjusted net income of $1.2 million compared to $2.6 million
• Adjusted EBITDA of $6.5 million compared to $3.6 million, an increase of 82%

Cord Christensen, PetIQ’s Chairman and Chief Executive Officer commented, “2018 was a transformational year for PetIQ with the completion of two strategic acquisitions to help us build a larger and more diversified animal health organization. We have worked diligently to execute on our Follow the Pets strategy by further enhancing our core pet health and wellness capabilities, strengthening new and existing partnerships across all sales channels through complementary veterinarian product and service offerings, and integrating VIP, which together, resulted in the significant growth of our business. We believe these efforts better position us to continue to grow the animal health and wellness category, fulfilling our mission to make pets’ lives better through improved access to affordable pet health care.”

GUIDANCE:

PetIQ, Inc. sees FY2019 revenue of $600 million, versus the consensus of $602.19 million.

• Adjusted EBITDA* of at least $51 million, an increase greater than 23% from growth of 86% in 2018
• The opening of at least 80 veterinarian wellness clinics

In addition, the Company is reiterating its long-term 2023 growth objectives including:

• Net sales of approximately $1.0 billion
• Adjusted EBITDA margin of greater than 15% *
• Wellness center locations of 1,000

For earnings history and earnings-related data on PetIQ, Inc. (PETQ) click here.

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