Chewy (CHWY) Q1 2026 Earnings
How Did CHWY Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +3.64%.
Did CHWY Beat Earnings? Q1 2026 Results
Yes. Chewy reported Q1 2026 earnings of $0.43 a share on Jun 10, 2026, beating the $0.43 consensus estimate by 0.8%. Revenue was $3.4B against a $3.4B estimate.
Chewy kicked off fiscal 2026 on solid footing, posting first-quarter results that edged past Wall Street expectations on both the top and bottom lines as the pet retailer's healthcare push and subscription flywheel continued to gain momentum. Adjusted diluted EPS came in at $0.43, ahead of the $0.43 consensus estimate, while net sales rose 7.7% year over year to $3.36 billion, just above the $3.35 billion analysts had forecast. The profitability story was arguably more compelling than the headline growth: gross margin widened 50 basis points to 30.1%, driven by sponsored advertising, a favorable product mix, and operational efficiency gains, lifting adjusted EBITDA margin 130 basis points to 7.5%. Engagement metrics reinforced the underlying health of the business, with active customers growing 3.6% to 21.50 million and autoship sales climbing 10.5% to $2.83 billion, representing 84.4% of total revenue. The quarter also included a $175 million acquisition of SmartPak, signaling Chewy's accelerating pivot toward high-margin pet healthcare as a longer-term growth lever.
- 7.7% net sales growth year over year
- Active customers grew 3.6% to 21.497 million
- Net sales per active customer increased 2.4% to $597
- Autoship customer sales grew 10.5% and reached 84.4% of net sales
- Gross margin expanded 50 basis points to 30.1%
- Adjusted EBITDA margin expanded 130 basis points to 7.5%
- Nearly 200,000 net customer additions in the quarter
“Chewy continues to outperform the pet category while expanding profitability and free cash flow. Our first quarter results demonstrate the resilience of our business model and the strength of our execution, as we delivered 7.7% net sales growth, nearly 200,000 net customer additions, and record profitability in the quarter, despite a more dynamic consumer backdrop. We remain confident in our ability to gain market share, deliver profitable growth, and create long-term shareholder value.”
Chewy CEO, on the earnings call
CHWY YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $3.4B | $3.1B | +7.7% |
| Gross Profit | $1.0B | $923.8M | +9.5% |
| Operating Income | $128.5M | $76.9M | +67.1% |
| Net Income | $94.8M | $62.4M | +51.9% |
CHWY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.