Petco Health + Wellness Company, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results

About this update from Petco Health And Wellness Company, Inc.

[{"type":"text","content":"Expects Double-Digit Adjusted EBITDA Growth in 2025*\nSAN DIEGO, March 26, 2025 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced its fourth quarter and full year 2024 financial results.\n\n \n \n \n \n \n \n\n \nQ4 2024 Overview\nNet revenue of $1.6 billion decreased 7.3% year over year inclusive of the negative impact from the loss of the 53rd week in 2023Comparable sales increased 0.5% year over yearGross profit of $589.3 million decreased 2.8% year over year compared to $606.3 million last yearGAAP net loss of $13.8 million compared to GAAP net loss of $22.6 million last yearAdjusted EBITDA1 of $96.1 million compared to $105.3 million last yearFull Year 2024 Overview \nNet revenue of $6.1 billion decreased 2.2% year over year inclusive of the negative impact from the loss of the 53rd week in 2023Comparable sales increased 0.3% year over yearGross profit of $2.3 billion decreased 1.3% year over year compared to $2.4 billion last yearGAAP net loss of $101.8 million compared to GAAP net loss of $1.3 billion last year inclusive of a $1.2 billion non-cash goodwill impairment chargeAdjusted EBITDA1 of $336.5 million compared to $401.1 million last yearOperating cash flow of $177.7 million compared to $215.7 million last yearFree Cash Flow1 of $49.7 million compared to ($9.9) million last year\"Our results in the fourth quarter demonstrate the progress we've made to return Petco to retail operating excellence,\" said Joel Anderson, Petco's Chief Executive Officer. \"While there is more work ahead, I am confident our new leadership team is well-positioned to build on this early momentum, deliver double-digit adjusted EBITDA improvement in 2025 and set the business up for sustainable profitable growth.\"\nFull Year 2025 Guidance\nFY 2025 Guidance*\n Net revenue\nDown low single digits year over year\n Adjusted EBITDA\n$375 million to $390 million\n Net interest expense\n~$130 million\n Capital expenditures\n$130-140 million\n Depreciation & amortization \n~$200 million\n Real estate\n~20-30 net closures\nFirst Quarter 2025 Guidance\nQ1 2025 Guidance*\n Net revenue\nDown low single digits year over year\n Adjusted EBITDA \n$82 million to $83 million\n*Assumptions in the guidance include that economic conditions, currency rates and the tax and regulatory landscape remain generally consistent. Adjust...

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