Pet Valu Holdings Ltd. · TSX:PET
Pet Valu — Q3 2024 Earnings Presentation
14 slides from Pet Valu's earnings presentation, November 2024
Slide 1: Q3 2024 Financial & Operating Review
Q3 2024 Financial & Operating Review For 13-week period ended Sep. 28, 2024
Slide 2: Disclaimer
Disclaimer Forward-Looking Information This presentation contains forward-looking information. Forward-looking information is provided as of the date of this presentation and is based on management’s opinions, estimates and assumptions in light of its experience and perception of historical trends,
Slide 3: Today's Presenters
Today’s Richard Maltsbarger Chief Executive Officer Presenters Greg Ramier President & Chief Operating Officer Linda Drysdale Chief Financial Officer This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in pa
Slide 4: Q3 2024 Highlights
+5% 6 Revenue New Store Q3 2024 Growth to $276 million Openings 22 year-to-date Highlights +13% 9 Adjusted EBITDA Renovations, Expansions Growth or Relocations to $65 million 25 year-to-date +5% Surrey DC Adjusted Net Income Officially per Diluted Share Growth Opened +29% Net Income Growth 350K sq.
Slide 5: Our Key Focuses
Our Key Focuses Local & Everywhere Best Pet Customer Strong Wholesale & Pet Specialty Retailer Experience in Canada Retail Fundamentals • Opening new stores across Canada • Offering compassionate, expert • Transforming our supply chain in-store customer service • Continual renovations, expansions •
Slide 6: Q3 2024 Key Financial Metrics
Q3 2024 Key Financial Metrics Q3 2024 vs. PY2 Drivers System-Wide Sales $358.2 +0.3% • 39 new stores in last 12 months (“LTM”) Same-Store Sales Growth (2.5)% --- • Basket1 +1.7% and Traffic1 (4.1)% • Higher wholesale merchandise sales, driven by growth in Revenue $276.0 +5.2% wholesale penetration a
Slide 7: Q3 2024 Key Financial Metrics
Cash Free Cash Flow Q3 2024 $35.4M $30.8M Key Financial plus $130M revolver capacity $61.6M year-to-date Metrics Long-term Debt Net Leverage Ratio1 $280.7M 2.0x (6)% vs. Q3 2023 vs. 2.2x at Q3 2023 Inventory Net Capital Expenditures $134.8M $13.9M Flat vs. Q3 2023 $37.5M year-to-date 1Net Leverage R
Slide 8: Outlook
2024 Updated Prior Outlook Revenue …supported by… $1.08-1.10B $1.08-1.11B Same-Store Sales Growth Flat Flat New Store Openings ~40 40-50 Adjusted EBITDA $243-246M $243-248M Adjusted Net Income $1.50-1.53 $1.50-1.55 per Diluted Share Net Capital Expenditures ~$50M ~$50M This presentation and any info
Slide 9: Our Mission
Our Mission To be Canada’s preferred pet retailer delivering the products, care, expertise, and memorable moments that devoted pet lovers want…locally in stores and everywhere online. This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted o
Slide 10: Appendix
Appendix This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada Inc. © 2024 Pet Valu Canada Inc. 10
Slide 11: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Quarters Ended Sep. 28, 2024 Sep. 30, 2023 (13 weeks) (13 weeks) Net income $23,158 $17,976 (1) Represents discrete, project-based implementation costs associated with new information technology systems and discrete Software-as-a-Service ("SaaS") arrangements for tr
Slide 12: Reconciliation of Adjusted Net Income
Reconciliation of Adjusted Net Income Quarters Ended Sep. 28, 2024 Sep. 30, 2023 (13 weeks) (13 weeks) Net income $23,158 $17,976 (1) Represents discrete, project-based implementation costs associated with new information technology systems and discrete SaaS arrangements for transformational initiat
Slide 13: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow Quarters Ended Sep. 28, 2024 Sep. 30, 2023 (13 weeks) (13 weeks) Cash provided by operating activities $55,699 $34,444 Cash (used in) provided by investing activities (2,371) (3,448) Repayment of principal on lease liabilities (16,541) (8,210) Interest paid on lease
Slide 14: Thank You
Thank You Contact Us: investors@petvalu.com (289) 806-4559 This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada Inc. © 2024 Pet Valu Canada Inc. 1