Pet Valu Holdings Ltd. · TSX:PET
Pet Valu — Q2 2024 Earnings Presentation
14 slides from Pet Valu's earnings presentation, Jun 29, 2024
Slide 1: Q2 2024 Financial & Operating Review
Q2 2024 Financial & Operating Review For 13-week period ended Jun. 29, 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 Presenters Richard Maltsbarger President & Chief Executive 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 part, without the prior written consen
Slide 4: 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 5: Q2 2024 Highlights
+3% 5 Revenue New Store Q2 2024 Growth to $265 million Openings 16 year-to-date Highlights +7% 9 Adjusted EBITDA Renovations, Expansions Growth or Relocations to $58 million 16 year-to-date Flat Performatrin Adjusted Net Income CulinaryTM/MC per Diluted Share Growth Successfully (26)% Net Income Gro
Slide 6: 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 7: Q2 2024 Key Financial Metrics
Q2 2024 Key Financial Metrics Q2 2024 vs. PY2 Drivers System-Wide Sales $353.7 +2.8% • 41 new stores in last 12 months (“LTM”) Same-Store Sales Growth 0.0% --- • Basket1 +2.5% and Traffic1 (2.4%) Revenue $265.2 +3.5% • Similar to system-wide sales growth • Variance of (190) bps excl. supply chain tr
Slide 8: Q2 2024 Key Financial Metrics
Cash Free Cash Flow Q2 2024 $24.1M $7.7M Key Financial plus $130M revolver capacity $30.8M year-to-date Metrics Long-term Debt Net Leverage Ratio1 $284.9M 2.1x (6)% vs. Q2 2023 vs. 2.2x at Q2 2023 Inventory Net Capital Expenditures $133.6M $12.5M +2% vs. Q2 2023 $23.6M year-to-date 1Net Leverage Rat
Slide 9: Outlook
2024 Updated Prior Outlook Revenue …supported by… $1.08-1.11B $1.11-1.14B Same-Store Sales Growth Flat +2-5% New Store Openings 40-50 40-50 Adjusted EBITDA $243-248M $248-254M Adjusted Net Income $1.50-1.55 $1.57-1.63 per Diluted Share Net Capital Expenditures ~$50M ~$55M This presentation and any i
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 Jun. 29, 2024 Jul. 1, 2023 (13 weeks) (13 weeks) Net income $17,839 $24,078 (1) Represents discrete, project-based implementation costs associated with new information technology systems and discrete Software-as-a-Service ("SaaS") arrangements for tra
Slide 12: Reconciliation of Adjusted Net Income
Reconciliation of Adjusted Net Income Quarters Ended Jun. 29, 2024 Jul. 1, 2023 (13 weeks) (13 weeks) Net income $17,839 $24,078 (1) Represents discrete, project-based implementation costs associated with new information technology systems and discrete SaaS arrangements for transformational initiati
Slide 13: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow Quarters Ended Jun. 29, 2024 Jul. 1, 2023 (13 weeks) (13 weeks) Cash provided by operating activities $31,756 $40,479 Cash (used in) provided by investing activities (2,055) (10,265) Repayment of principal on lease liabilities (15,944) (12,979) 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