Chewy Beats Q4 Estimates on Customer Growth, Issues Upbeat 2025 Outlook

Chewy (NYSE:CHWY) reported fourth-quarter results that outpaced expectations, driven by a strong rise in customer activity and robust top-line growth.

The company posted adjusted EBITDA of $124.5 million, beating the $118.4 million consensus estimate, as demand picked up across its platform. Net sales rose 14.9% year-over-year to $3.25 billion, supported by an increase in active customers to 20.5 million—both figures exceeding forecasts.

Management highlighted that Chewy is entering fiscal 2025 with solid momentum, pointing to customer growth as a key catalyst for continued performance.

Looking ahead, Chewy is guiding first-quarter net sales growth of 6% to 7%, or $3.06 billion to $3.09 billion, slightly above Wall Street expectations of $3.04 billion. Projected earnings per share between $0.30 and $0.35 puts the midpoint roughly in line with the $0.33 consensus.

For the full year, the company expects net sales between $12.30 billion and $12.45 billion, marking a 6%-7% increase, compared to market projections of $12.42 billion. Core income margins are forecast to range from 5.4% to 5.7%, indicating continued efficiency gains.