Companies /Consumer Cyclical

Chewy Inc - Class A

NYSE: CHWY Internet Retail
$18.17
▲ $0.45 (+2.54%) today
Markets closed · 4:31pm ET

Q3 2025 Earnings

Reported Dec 10, 2025, 7:05am ET · SEC source
$0.32
Beat +5.40%
EPS · est. $0.30 Adjusted
$3.1B
Beat +0.66%
Revenue · est. $3.1B
−6.4%
Trailing market
CHWY vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−8%−4%0+4%Dec 10Dec 11report 7:05am ETearnings+0.8%−2.7%
−8%−4%0+4%Dec 10Dec 11earnings+0.8%−2.7%
CHWY −2.7%S&P 500 +0.8%
−8%−4%0+4%Dec 10Dec 11report 7:05am ETearnings−0.0%−2.7%
−8%−4%0+4%Dec 10Dec 11earnings−0.0%−2.7%
CHWY −2.7%NASDAQ −0.0%
0+4%+8%+12%Dec 9Dec 18report 7:05am ETearnings−0.9%−0.5%
0+4%+8%+12%Dec 9Dec 18earnings−0.9%−0.5%
CHWY −0.5%S&P 500 −0.9%
0+5%+10%Dec 9Dec 18report 7:05am ETearnings−2.5%−0.5%
0+5%+10%Dec 9Dec 18earnings−2.5%−0.5%
CHWY −0.5%NASDAQ −2.5%
+1.52%
Day of report
−3.39%
Next session
−7.29%
One week
−5.51%
30 days

S&P 500 over the same 30 days: +0.90%.

Did CHWY Beat Earnings? Q3 2025 Results

Chewy delivered a solid beat on both the top and bottom lines in fiscal Q3 2025, reinforcing the online pet retailer's case as a structurally sound business in a resilient category. The company posted adjusted EPS of $0.32, ahead of the $0.30 consensus by 5.40%, while net sales of $3.12 billion grew 8.3% year over year and edged past the $3.10 billion analyst estimate. The clearest driver behind the profit performance was the continued acceleration of Autoship, Chewy's subscription-style recurring revenue program, which grew 13.6% year over year to $2.61 billion and now accounts for 83.9% of total net sales, up from 80.0% a year ago. That sticky revenue mix helped lift gross margin 50 basis points to 29.8% and push adjusted EBITDA margin up 100 basis points to 5.8%, with CEO Sumit Singh noting that profitability is growing faster than sales. Active customers expanded 4.9% to 21.16 million, and J.P. Morgan maintained a Buy rating on the stock with a $45 price target following the results.

Key Takeaways
  • Autoship customer sales grew 13.6% YoY to $2,613.8 million, representing 83.9% of net sales vs. 80.0% a year ago
  • Active customers increased 4.9% YoY to 21.155 million
  • Net sales per active customer increased 4.9% YoY to $595
  • Gross margin expanded 50 basis points YoY to 29.8%
  • Adjusted EBITDA margin improved 100 basis points YoY to 5.8%
  • Profits grew faster than sales, reflecting operating leverage

“Chewy continues to outperform the pet category and expand market share, with profits once again growing faster than sales.”

Chewy CEO, on the earnings call

CHWY YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$900.0M$1.8B$2.7B$2.9B$3.1BRevenue$843.9M$928.2MGross Profit$25.6M$65.2MOperating Income$3.9M$59.2MNet Income
$0$900.0M$1.8B$2.7BRevenueGross ProfitOperating IncomeNet Income

CHWY Revenue by Segment

Autoship Customer Sales$2.6B+13.6%

Figures from SEC filings and company reports. Not investment advice.