Petco Health And Wellness Company, Inc. · NASDAQ:WOOF
Petco Health And Wellness — Q2 2024 Earnings Presentation
14 slides from Petco Health And Wellness's earnings presentation, Sep 10, 2024
Slide 1: Petco Second Quarter 2024 Earnings Call
PETCO SECOND QUARTER 2024 EARNINGS CALL September 10, 2024
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
Slide 3: Key Takeaways
Second Quarter KEY TAKEAWAYS ► Announced Joel Anderson as Chief Executive Officer with Mike Mohan transitioning to lead a new Board committee focused on value creation ► Increased focus on strengthening retail fundamentals while executing on cost initiatives across organization ► Net revenue of $1.5
Slide 4: Q2 Revenue Performance
Q2 REVENUE PERFORMANCE NET REVENUE BY CATEGORY ($ in millions) Key Revenue Highlights $1,531 $1,494 $1,674 $1,529 $1,524 254 • Net revenue roughly flat y/y and 252 236 249 260 Comp sales +0.3% y/y 587 • Continued strength in Services and 545 525 516 519 Vet, with sales up 10% y/y, driven by Vetco Mo
Slide 5: Continued Focus on Strengthening Balance Sheet
CONTINUED FOCUS ON STRENGTHENING BALANCE SHEET Capital Expenditures Free Cash Flow1 Key Cash Flow & Balance (Down 47% year-over-year) (Down $3M year-over-year) Sheet Highlights ($ in millions) ($ in millions) $52 • Strong sequential improvement $45 $2 $17 $42 with Q2 free cash flow1 of $42M $17 $27
Slide 6: Non-GAAP Measures and Other Definitions
NON-GAAP MEASURES AND OTHER DEFINITIONS
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
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 August 3, July 29, Common Stockholders to Adjusted EBITDA 2024 2023 Net loss attributable to Class A and B-1 common stockholders $ (24,823) $ (14,606) Add (deduct): In
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 August 3, 2024 July 29, 2023 Amount Per share Amount Per share Net loss attributable to common stockholders / diluted EPS $ (24,823) $ (0.09)
Slide 10: Non-GAAP Measures: Free Cash Flow
Non-GAAP Measures: Free Cash Flow (in thousands) 13 Weeks Ended August 3, July 29, 2024 2023 Net cash provided by operating activities $ 69,370 $ 96,614 Cash paid for fixed assets (27,388) (51,973) Free Cash Flow $ 41,982 $ 44,641 10
Slide 11: Non-GAAP Measures: Net Debt
Non-GAAP Measures: Net Debt August 3, February 3, July 29, (dollars in thousands) 2024 2024 2023 Total debt: Senior secured credit facilities, net, including current portion $ 1,575,630 $ 1,576,223 $ 1,588,523 Finance leases, including current portion 14,839 24,172 26,724 Total debt 1,590,469 1,600,
Slide 12: Net Sales by Category
Net Sales by Category 13 Weeks Ended August 3, July 29, July 30, July 31, % Change % Change % Change 2024 2023 2022 2021 (1 yr) (2 yr) (3 yr) Consumables $ 744,766 $ 734,077 $ 687,068 $ 611,946 1% 8% 21% Supplies and companion animals 518,983 544,521 600,711 663,572 (5%) (14%) (24%) Services and oth
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
Slide 14: Thank You
THANK YOU ©2024 Petco Health and Wellness Company, Inc.
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