Companies /Consumer Cyclical
Chewy Inc - Class A
NYSE: CHWY Internet Retail
$21.08
▲ $0.55 (+2.68%) today
Markets open · 10:21am ET

Chewy (CHWY) Q4 2025 Earnings

Reported Mar 25, 2026, 7:05am ET · SEC source
$0.27
Miss −3.09%
EPS · est. $0.28 Adjusted
$3.3B
Beat +0.01%
Revenue · est. $3.3B
−14.0%
Trailing market
CHWY vs S&P since report
1 quarter
Consecutive EPS misses

How Did CHWY Stock React to Q4 2025 Earnings?

% change · around the report
−5%0+5%+10%Mar 25Mar 26report 7:05am ETearnings−1.5%+9.2%
−5%0+5%+10%Mar 25Mar 26earnings−1.5%+9.2%
CHWY +9.2%S&P 500 −1.5%
−5%0+5%+10%Mar 25Mar 26report 7:05am ETearnings−2.1%+9.2%
−5%0+5%+10%Mar 25Mar 26earnings−2.1%+9.2%
CHWY +9.2%NASDAQ −2.1%
−6%0+6%Mar 24Apr 2report 7:05am ETearnings−2.2%+4.3%
−6%0+6%Mar 24Apr 2earnings−2.2%+4.3%
CHWY +4.3%S&P 500 −2.2%
−6%0+6%Mar 24Apr 2report 7:05am ETearnings−3.0%+4.3%
−6%0+6%Mar 24Apr 2earnings−3.0%+4.3%
CHWY +4.3%NASDAQ −3.0%
+13.30%
Day of report
+1.66%
Next session
+0.19%
One week
−5.08%
30 days

S&P 500 over the same 30 days: +8.88%.

Did CHWY Beat Earnings? Q4 2025 Results

No. Chewy reported Q4 2025 earnings of $0.27 a share on Mar 25, 2026, missing the $0.28 consensus estimate by 3.1%. Revenue was $3.3B against a $3.3B estimate.

Chewy delivered a mixed fiscal fourth quarter, narrowly falling short on the bottom line while roughly matching revenue expectations, as the online pet retailer navigated a calendar quirk that compressed its reported growth figures. Adjusted EPS came in at $0.27, missing the $0.28 consensus by 3.09%, even as revenue of $3.26 billion edged just above estimates and grew 0.5% year over year on a reported basis; on a normalized 13-week basis, stripping out the extra week in the prior-year period, net sales actually expanded 8.1%. The more compelling story was on profitability, where adjusted EBITDA surged 30.4% to $162.30 million and gross margin widened 90 basis points to 29.4%, reflecting better cost management and a favorable product mix shift. Autoship subscriptions continued to deepen customer lock-in, climbing to 84.0% of quarterly net sales from 80.6% a year ago. With the board having freshly expanded its share repurchase authorization by $500 million, and CEO Sumit Singh pledging continued margin expansion and strong cash generation in 2026, Chewy signaled confidence that its profitability trajectory remains firmly intact.

Key Takeaways
  • Gross margin expansion of 90 basis points in Q4 to 29.4%
  • Autoship customer sales as a percentage of net sales increased to 84.0% from 80.6% year over year in Q4
  • Active customers grew 4.0% to 21.3 million
  • Net sales per active customer increased 2.2% to $591
  • Normalized 13-week net sales growth of 8.1% in Q4
  • SG&A expenses decreased year over year despite higher net sales
  • Adjusted EBITDA margin expanded 120 basis points to 5.0% in Q4

“We exited 2025 from a position of real strength: $12.6 billion in net sales or 8.3% growth, $719 million of adjusted EBITDA or 26% growth, record free cash flow of $562 million, and 21.3 million active customers. That performance underscores the durability of the Chewy model and gives us confidence in our ability to deliver continued profitable growth, expanding margins, and strong cash generation in 2026 and beyond.”

Chewy CEO, on the earnings call

What Was Chewy's Outlook in Q4 2025?

CEO Sumit Singh expressed confidence in the company's ability to deliver continued profitable growth, expanding margins, and strong cash generation in 2026 and beyond.

CHWY YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$900.0M$1.8B$2.7B$3.2B$3.3BRevenue$926.0M$959.7MGross Profit$6.7M$42.5MOperating Income$22.8M$39.2MNet Income
$0$900.0M$1.8B$2.7BRevenueGross ProfitOperating IncomeNet Income
CHWY income statement, Q4 2025 versus Q4 2024
Metric Q4 2025 Q4 2024 Year over year
Revenue $3.3B $3.2B +0.5%
Gross Profit $959.7M $926.0M +3.6%
Operating Income $42.5M $6.7M +537.6%
Net Income $39.2M $22.8M +72.0%

CHWY Revenue by Segment

Autoship Customer Sales$2.7B+4.8%

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