Petco Health And Wellness Company, Inc. · NASDAQ:WOOF
Petco Health And Wellness — Q1 2023 Earnings Presentation
17 slides from Petco Health And Wellness's earnings presentation, May 24, 2023
Slide 1: First Quarter 2023 Earnings Call
THE HEALTH + WELLNESS CO. PETCO FIRST QUARTER 2023 EARNINGS CALL May 24, 2023
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: (1) Please see the Recurring Revenue footnote at the end of this Presentation.
► ► ► ► ► (1) Please see the Recurring Revenue footnote at the end of this Presentation. 1
Slide 4: Continued Strategic Action Across Core Initiatives
CONTINUED STRATEGIC ACTION ACROSS CORE INITIATIVES • • • • • • • • (1) Please see the Recurring Revenue footnote at the end of this Presentation.
Slide 5: Fully Integrated Services Offering with Vets Scaling
FULLY INTEGRATED SERVICES OFFERING WITH VETS SCALING • •
Slide 6: Net Revenue by Category: Revenue Growth
Revenue growth NET REVENUE BY CATEGORY CONSISTENT AND DIVERSIFIED REVENUE GROWTH ACROSS BUSINESSES 1-year comp growth 2-year comp growth ($in millions) Key Revenue Highlights $1,578 $1,556 $1,481 $1,501 * Continued top-line performance 493 205 239 with 5% year-over-year growth * Comp sales of 5% dri
Slide 7: Free Cash Flow, Net Debt and Liquidity
• Supply Chain & Other Digital & IT New & Existing Locations • • Free Cash Flow 1 $(24)M $(16)M $(8)M Net Debt1 $1.5B (0%) $1.5B Liquidity2 $593M (6%) $630M (1) Non-GAAP financial measure; see definition and reconciliation at the end of this Presentation. (2) Sum of cash and cash equivalents and ava
Slide 8: Petco Partners, Petco Love and ESG
Petco Partners Honored highest performing partners as Epic Elite Achievers, thanking them for their leadership and dedication to purpose driven performance. Leadership teams volunteered at the local food bank with Feeding San Diego. Petco Love Saved over 100,000 pet lives in Q1 and have now reunited
Slide 9: Petco: Pillars of Growth
SERVICES INTEGRATION Fully integrated services offerings including vet clinics, maturing hospitals, and grooming & training continue to support and transform four-wall economics PETCO: PILLARS OF GROWTH MERCHANDISE DIFFERENTIATION Leverage pet humanization and premiumization trends in favorable cate
Slide 10: Non-GAAP Measures and Other Definitions
NON-GAAP MEASURES AND OTHER DEFINITIONS
Slide 11: Non-GAAP Measures and Other Definitions
Non-GAAP Measures and Other Definitions
Slide 12: Reconciliation of Net (Loss) Income to Adjusted EBITDA
(dollars in thousands) 13 Weeks Ended Reconciliation of Net (Loss) Income Attributable to Class A and B-1 April 29, April 30, Common Stockholders to Adjusted EBITDA 2023 2022 Net (loss) income attributable to Class A and B-1 common stockholders $ (1,892) $ 24,693 Add (deduct): Interest expense, net
Slide 13: Reconciliation of Diluted EPS to Adjusted EPS
(in thousands, except per share amounts) 13 Weeks Ended Reconciliation of Diluted EPS to Adjusted EPS April 29, 2023 April 30, 2022 Amount Per share Amount Per share Net (loss) income attributable to common stockholders / diluted EPS $ (1,892) $ (0.01) $ 24,693 $ 0.09 Add (deduct): Income tax expens
Slide 14: Free Cash Flow Reconciliation
(in thousands) 13 Weeks Ended April 29, April 30, 2023 2022 Net cash provided by operating activities $ 37,651 $ 57,519 provided by provided by pr Cash paid for fixed assets (62,050) (65,910) Free Cash Flow $ (24,399) $ (8,391) -34.5% -5.9% $ (16,008)
Slide 15: Net Sales by Category
13 Weeks Ended April 29, April 30, May 1, May 2, % Change % Change % Change 2023 2022 2021 2020 (1 yr) (2 yr) (3 yr) Consumables $ 763,051 $ 685,930 $ 595,132 $ 525,752 11% 27% 40% Supplies and companion animals 553,545 599,179 658,172 493,734 (8%) (17%) 17% Services and other 239,312 190,882 161,69
Slide 16: Adjusted EBITDA, Adjusted Net Income and Adjusted EPS Footnotes
Adjusted EBITDA, Adjusted Net Income and Adjusted EPS Footnotes 0) @ @) (4) 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 ventur
Slide 17: Thank You
THANK YOU THE HEALTH + WELLNESS CO.
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