Petco Health And Wellness Company, Inc. · NASDAQ:WOOF

Petco Health And Wellness — Q1 2024 Earnings Presentation

14 slides from Petco Health And Wellness's earnings presentation, May 22, 2024

  1. Slide 1: Petco First Quarter 2024 Earnings Call

    PETCO FIRST QUARTER 2024 EARNINGS CALL May 22, 2024

  2. Slide 2: Safe Harbor and Non-GAAP Measures

    SAFE HARBOR AND NON-GAAP MEASURES This Presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amend

  3. Slide 3: First Quarter Key Takeaways

    First Quarter KEY TAKEAWAYS ► Net revenue of $1.5 billion, (2%) y/y and comparable sales (1%) y/y. ► Services & Other growth +4% y/y, with Services & Vet +10% y/y driven by ongoing strength in our vet hospitals, mobile clinics and grooming services ► Consumables sales flat y/y, Fresh Frozen sales +1

  4. Slide 4: Q1 Revenue Performance

    Q1 REVENUE PERFORMANCE NET REVENUE BY CATEGORY ($ in millions) Key Revenue Highlights $1,556 $1,531 $1,494 $1,674 $1,529 254 • Net revenue (2%) y/y and Comp 239 252 236 249 sales (1%) 587 • Supplies and companion animal 554 545 525 516 comp partially offset by growth in services and vet • Consumable

  5. Slide 5: Ongoing Focus on Balance Sheet

    ONGOING FOCUS ON BALANCE SHEET Capital Expenditures Free Cash Flow1 Key Cash Flow & Balance (Down 47% year-over-year) (Down $17M year-over-year) Sheet Highlights ($ in millions) ($ in millions) • Q1 Free Cash Flow1 of $(41)M $62 Q1'23 Q1'24 $5 $33 $17 versus $(24)M a year ago $17 $4 $40 • Liquidity2

  6. Slide 6: Non-GAAP Measures and Other Definitions

    NON-GAAP MEASURES AND OTHER DEFINITIONS

  7. Slide 7: Non-GAAP Measures and Other Definitions

    Non-GAAP Measures and Other Definitions The following information provides definitions and reconciliations of the non-GAAP financial measures presented in this Presentation to the most directly comparable financial measures calculated and presented in accordance with U.S. generally accepted accounti

  8. Slide 8: Non-GAAP Measures: Adjusted EBITDA

    Non-GAAP Measures: Adjusted EBITDA* (dollars in thousands) 13 Weeks Ended Reconciliation of Net Loss Attributable to Class A and B-1 May 4, April 29, Common Stockholders to Adjusted EBITDA 2024 2023 Net loss attributable to Class A and B-1 common stockholders $ (46,483) $ (1,892) Add (deduct): Inter

  9. Slide 9: Non-GAAP Measures: Adjusted Net Income and Adjusted EPS

    Non-GAAP Measures: Adjusted Net Income and Adjusted EPS* (in thousands, except per share amounts) 13 Weeks Ended Reconciliation of Diluted EPS to Adjusted EPS May 4, 2024 April 29, 2023 Amount Per share Amount Per share Net loss attributable to common stockholders / diluted EPS $ (46,483) $ (0.17) $

  10. Slide 10: Non-GAAP Measures: Free Cash Flow

    Non-GAAP Measures: Free Cash Flow (in thousands) 13 Weeks Ended May 4, April 29, 2024 2023 Net cash (used in) provided by operating activities $ (8,414) $ 37,651 Cash paid for fixed assets (32,641) (62,050) Free Cash Flow $ (41,055) $ (24,399) 10

  11. Slide 11: Non-GAAP Measures: Net Debt

    Non-GAAP Measures: Net Debt May 4, February 3, April 29, (dollars in thousands) 2024 2024 2023 Total debt: Senior secured credit facilities, net, including current portion $ 1,574,486 $ 1,576,223 $ 1,612,009 Finance leases, including current portion 11,696 24,172 28,745 Total debt 1,586,182 1,600,39

  12. Slide 12: Net Sales by Category

    Net Sales by Category 13 Weeks Ended May 4, April 29, April 30, May 1, % Change % Change % Change 2024 2023 2022 2021 (1 yr) (2 yr) (3 yr) Consumables $ 763,974 $ 763,051 $ 685,930 $ 595,132 0% 11% 27% Supplies and companion animals 515,757 553,545 599,179 658,172 (7%) (14%) (23%) Services and other

  13. Slide 13: Non-GAAP Financial Measures' Footnotes

    Non-GAAP Financial Measures’ Footnotes (1) Mexico Joint Venture EBITDA represents 50 percent of the entity’s operating results for all periods, as adjusted to reflect the results on a basis comparable to Adjusted EBITDA. In the financial statements, this joint venture is accounted for as an equity m

  14. Slide 14: Thank You

    THANK YOU ©2024 Petco Health and Wellness Company, Inc.

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