Jul 2026 (Q2 FY27) — Sep 9, 2026
Chewy Q2 FY27 — Strong Profitability and Market Share Gains Amidst Stable Consumer Backdrop
Read the full callChewy (CHWY) earnings
- Aug 2026
- Jul 2026 (Q2 FY27)
- Feb 2026
Chewy earnings: last reported Wed, 9 Sep 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,330 | +7.3% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 2.8 | +0.5 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 80.5 | +29.8% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
39 of 44 judged targets kept · 23 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted diluted earnings per share | approximately $0.36 | Apr 2026 | Q2 adjusted net income was $149 million, translating into adjusted diluted earnings per share of $0.36. | Achieved |
| Adjusted EBITDA margin | 6.6% to 6.8% | Jan 2026 | we are raising the low end of full year fiscal 2026 adjusted EBITDA margin guidance by 10 basis points and narrowing the range to 6.7% to 6.8% from 6.6% to 6.8%. | Revised Up |
| Net sales | $12.3 billion to $12.45 billion | Jan 2025 | Ghosted |
5 of Chewy, Inc.'s 67 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 64 more targets are in the full ledger.
Claimed
- Q2 total Enterprise net sales reached $3.33 billion, representing 7.3% year-over-year growth, at the high end of guidance.
- Adjusted EBITDA margin reached 6.8%, exceeding expectations and implying over 100 basis points of year-over-year expansion at the midpoint for FY26.
- Active customer count grew to 21.7 million, up 3.8% year-over-year, with 208,000 sequential net additions.
- Autoship customer sales increased 9.3% year-over-year, representing 84.6% of total net sales.
- AI-related initiatives are expected to generate low tens of millions of dollars of cost savings in FY26, scaling to approximately $50 million annually in FY27.
Qualified
- Free cash flow for the quarter was $90 million, down from $106 million in the prior year period, entirely due to timing.
- Gross margin is expected to decline modestly on a sequential basis in Q3, normalizing timing-related benefits from Q2.
- Fuel is expected to represent a mid-single-digit million dollar headwind through the balance of the year.
- Modern Animal acquisition represented a modest drag to adjusted EBITDA margin in the quarter.
Price
$20.53 −2.10% · −$0.44
Performance −45.2% 1Y
1Y: $37.44 on 17 Oct 2025 → $20.53. High $37.46 (20 Oct 2025), low $17.51 (22 Jun 2026).
- Previous close
- $20.97
- 52-week range
- $17.51 – $37.46
- One year
- −45.19%
Overview
- Symbol
- CHWY
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
39 of 44 judged targets kept · 23 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted diluted earnings per share | approximately $0.36 | Apr 2026 | Q2 adjusted net income was $149 million, translating into adjusted diluted earnings per share of $0.36. | Achieved |
| Adjusted EBITDA margin | 6.6% to 6.8% | Jan 2026 | we are raising the low end of full year fiscal 2026 adjusted EBITDA margin guidance by 10 basis points and narrowing the range to 6.7% to 6.8% from 6.6% to 6.8%. | Revised Up |
| Net sales | $12.3 billion to $12.45 billion | Jan 2025 | Ghosted |
Claimed
- Q2 total Enterprise net sales reached $3.33 billion, representing 7.3% year-over-year growth, at the high end of guidance.
- Adjusted EBITDA margin reached 6.8%, exceeding expectations and implying over 100 basis points of year-over-year expansion at the midpoint for FY26.
- Active customer count grew to 21.7 million, up 3.8% year-over-year, with 208,000 sequential net additions.
- Autoship customer sales increased 9.3% year-over-year, representing 84.6% of total net sales.
- AI-related initiatives are expected to generate low tens of millions of dollars of cost savings in FY26, scaling to approximately $50 million annually in FY27.
Qualified
- Free cash flow for the quarter was $90 million, down from $106 million in the prior year period, entirely due to timing.
- Gross margin is expected to decline modestly on a sequential basis in Q3, normalizing timing-related benefits from Q2.
- Fuel is expected to represent a mid-single-digit million dollar headwind through the balance of the year.
- Modern Animal acquisition represented a modest drag to adjusted EBITDA margin in the quarter.
The full ledger
Open Chewy, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 67 tracked commitments, with each call’s wording and source.
Call summaries
May 2026 (Q1 FY27) — Jun 10, 2026
Chewy Q1 FY27 — record profitability and share gains as guidance trimmed on softer consumer
Read the full callFeb 2026 (Q4 FY25) — Mar 25, 2026
Chewy Q4 FY25 — Strong Sales Growth, Margin Expansion, and Record Free Cash Flow
Read the full callEvery analysed call
Chewy earnings calls (CHWY)
Financials
What the filings say
Net profit, year on year: +30% (quarter to aug 2026 against aug 2025).
| Line item | Oct 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,878 | 3,247 | 3,116 | 3,104 | 3,117 | 3,265 | 3,357 | 3,330 |
| Operating profit | 26 | -10 | 77 | 70 | 65 | 43 | 129 | 92 |
| Operating margin | 0.9% | −0.3% | 2.5% | 2.3% | 2.1% | 1.3% | 3.8% | 2.8% |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 8 |
| Profit before tax | 30 | -3 | 78 | 74 | 69 | 42 | 131 | 112 |
| Tax rate | 86.8% | 945.1% | 19.9% | 16.2% | 14.6% | 6.9% | 27.8% | 28.1% |
| Net profit | 4 | 23 | 62 | 62 | 59 | 39 | 95 | 81 |
| EPS ($ per share) | 0.01 | — | 0.15 | 0.15 | 0.14 | — | 0.23 | 0.20 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | — | — | — | — | — | — | — |
| Reserves | -1,592 | -1,844 | -1,937 | -2,011 | -2,015 | -1,976 | -1,583 | -1,360 |
| Total liabilities | 878 | 1,336 | 1,743 | 2,072 | 2,360 | 2,677 | 2,753 | 2,869 |
| Fixed assets | 92 | 119 | 210 | 367 | 479 | 521 | 562 | 552 |
| Investments | — | — | — | 0 | 347 | 532 | 1 | 19 |
| Total assets | 542 | 932 | 1,741 | 2,086 | 2,520 | 3,187 | 3,015 | 3,366 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -13 | 47 | 133 | 192 | 350 | 486 | 596 | 692 |
| Cash from investing | 32 | -50 | -124 | -193 | -616 | -287 | 395 | -152 |
| Cash from financing | 1 | 127 | 342 | 41 | -7 | 72 | -997 | -276 |
| Net cash flow | 20 | 124 | 351 | 40 | -272 | 271 | -6 | 264 |
| Capital expenditure | -44 | -49 | -131 | -183 | -230 | -143 | -144 | -129 |
| Free cash flow | -58 | -2 | 2 | 9 | 119 | 343 | 453 | 562 |
CHWY revenue by segment
| Segment | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Reportable | 100% | 100% | 100% | 100% | 100% | 100% | +7.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CHWY operating KPIs by quarter
| KPI | Feb 2026 Q4 FY26 | May 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|
| Active customers | 21.3MWe continue to grow active customers ending the year with 21.3 million, increasing by approximately 4% year-over-year and net additions up by more than 810,000 year-over-year in fiscal 2025.Source: earnings call transcript | 21.5MWe ended the quarter with 21.5 million active customers, up 3.6% year-over-year, while net sales per active customer or netback increased to $597 Autoship customer sales once again outpaced overall company growth increasing over 10% year-over-year and reaching 84.4% of total net sales in the quarter further reinforcing the predictability, durability and recurring nature of our revenue base.Source: earnings call transcript | 21.7MWe ended the quarter with 21.7 million active customers, representing 3.8% year-over-year growth and 208,000 sequential net additions.Source: earnings call transcript | +0.9% |
| Net active customer additions | — | <200KDespite the consumer environment that weakened in the latter parts of the quarter, we delivered nearly 200,000 net customer additions, achieved solid top line growth and record profitability generated strong free cash flow and maintained consistent category share capture.Source: earnings call transcript | 208KWe ended the quarter with 21.7 million active customers, representing 3.8% year-over-year growth and 208,000 sequential net additions.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
69 filings between Nov 3, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$7.31M
19 sales by 5 insiders
84% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 20
- Award — granted as compensation
- 30
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Singh Sumit | — | $5.38M | Aug 3, 2026 |
| Mehta Satish | — | $1.14M | Feb 2, 2026 |
| Billings William G. | — | $399.6K | Oct 15, 2026 |
| Hu Da-Wai | — | $301.2K | Jun 29, 2026 |
| Deppe Christopher S. | — | $81.8K | Mar 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Billings William G. Chief Accounting Officer | Sale 10b5-1 plan | 17,283 | $362.9K |
| Sep 1, 2026 | Billings William G. Chief Accounting Officer | Tax withheld | 625 | $14.9K |
| Sep 1, 2026 | Deppe Christopher S. Chief Financial Officer | Tax withheld | 1,541 | $36.7K |
| Sep 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld | 7,567 | $180.1K |
| Sep 1, 2026 | Hu Da-Wai General Counsel & Secretary | Tax withheld | 445 | $10.6K |
| Sep 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld | 1,273 | $30.3K |
| Aug 3, 2026 | Singh Sumit Chief Executive Officer | Sale 10b5-1 plan | 43,244 | $995.0K |
| Aug 3, 2026 | Singh Sumit Chief Executive Officer | Sale 10b5-1 plan | 6,233 | $143.4K |
| Jul 31, 2026 | Deppe Christopher S. Chief Financial Officer | Tax withheld | 624 | $14.2K |
| Jul 31, 2026 | Hu Da-Wai General Counsel & Secretary | Tax withheld | 909 | $20.7K |
| Jul 31, 2026 | Billings William G. Chief Accounting Officer | Tax withheld | 11,134 | $254.1K |
| Jul 31, 2026 | Singh Sumit Chief Executive Officer | Tax withheld 10b5-1 plan | 3,715 | $84.8K |
| Jul 31, 2026 | Singh Sumit Chief Executive Officer | Tax withheld 10b5-1 plan | 28,649 | $653.8K |
| Jul 9, 2026 | Nesbitt Martin H. Director | Award | 10,665 | $0 |
| Jul 9, 2026 | ELLINGER DEBORAH G Director | Award | 10,665 | $0 |
| Jul 9, 2026 | STAR JAMES A Director | Award | 10,665 | $0 |
| Jul 9, 2026 | GOLDHABER NATHANIEL Director | Award | 10,665 | $0 |
| Jul 9, 2026 | Nelson James Larry Director | Award | 10,665 | $0 |
| Jul 9, 2026 | Dickson Kristine Director | Award | 10,665 | $0 |
| Jun 29, 2026 | Hu Da-Wai General Counsel & Secretary | Sale | 100 | $1.9K |
| Jun 29, 2026 | Hu Da-Wai General Counsel & Secretary | Sale | 4,103 | $80.0K |
| Jun 1, 2026 | Deppe Christopher S. Chief Financial Officer | Tax withheld | 182 | $4.1K |
| Jun 1, 2026 | Hu Da-Wai General Counsel & Secretary | Tax withheld | 445 | $10.0K |
| Jun 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld | 7,567 | $170.6K |
| Jun 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld | 1,273 | $28.7K |
| Jun 1, 2026 | Billings William G. Chief Accounting Officer | Tax withheld | 625 | $14.1K |
| May 4, 2026 | Singh Sumit Chief Executive Officer | Sale 10b5-1 plan | 4,220 | $108.0K |
| May 4, 2026 | Singh Sumit Chief Executive Officer | Sale 10b5-1 plan | 83,306 | $2.13M |
| May 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld 10b5-1 plan | 15,462 | $393.0K |
| May 1, 2026 | Deppe Christopher S. Chief Financial Officer | Tax withheld | 2,857 | $72.6K |
| May 1, 2026 | Billings William G. Chief Accounting Officer | Tax withheld | 1,064 | $27.0K |
| May 1, 2026 | Hu Da-Wai General Counsel & Secretary | Tax withheld | 909 | $23.1K |
| May 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld 10b5-1 plan | 2,172 | $55.2K |
| Apr 8, 2026 | Singh Sumit Chief Executive Officer | Award | 59,219 | $0 |
| Apr 8, 2026 | Singh Sumit Chief Executive Officer | Award | 13,818 | $0 |
| Apr 8, 2026 | Singh Sumit Chief Executive Officer | Award | 92,381 | $0 |
| Apr 8, 2026 | Deppe Christopher S. Chief Financial Officer | Award | 5,922 | $0 |
| Apr 8, 2026 | Deppe Christopher S. Chief Financial Officer | Award | 71,062 | $0 |
| Apr 8, 2026 | Billings William G. Chief Accounting Officer | Award | 32,571 | $0 |
| Apr 8, 2026 | Singh Sumit Chief Executive Officer | Award | 394,868 | $0 |
| Apr 8, 2026 | Hu Da-Wai General Counsel & Secretary | Award | 37,486 | $0 |
| Apr 8, 2026 | Deppe Christopher S. Chief Financial Officer | Award | 346,670 | $0 |
| Apr 1, 2026 | Singh Sumit Chief Executive Officer | Tax withheld | 1,021 | $27.6K |
| Apr 1, 2026 | Hu Da-Wai General Counsel & Secretary | Sale | 8,149 | $219.3K |
| Mar 25, 2026 | Singh Sumit Chief Executive Officer | Award | 47,653 | $0 |
| Mar 25, 2026 | Singh Sumit Chief Executive Officer | Award | 526,284 | $0 |
| Mar 25, 2026 | Deppe Christopher S. Chief Financial Officer | Award | 4,342 | $0 |
| Mar 25, 2026 | Hu Da-Wai General Counsel & Secretary | Award | 49,962 | $0 |
| Mar 25, 2026 | Billings William G. Chief Accounting Officer | Award | 14,470 | $0 |
| Mar 2, 2026 | Deppe Christopher S. Chief Financial Officer | Sale 10b5-1 plan | 3,043 | $81.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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