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Petmed Express Stock Shoots Higher on Q2 Earnings Beat

William White

Petmed Express stock was on the rise Monday following the release of its earnings report for the fiscal second quarter of 2018.

Petmed Express Stock Shoots Higher on Q2 Earnings Beat

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During its fiscal second quarter of the year, Petmed Express (NASDAQ:PETS) reported earnings per share of 52 cents. This is better than the company’s earnings per share of 43 cents reported in the same period of the year prior. It was also good news for Petmed Express stock by coming in above Wall Streets’ earnings per share estimate of 50 cents for the quarter.

Petmed Express’ earnings report for its fiscal second quarter of 2018 also includes net income of $10.75 million. This is an increase over the company’s net income of $8.76 million reported during its fiscal second quarter of 2017.

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Operating income reported by Petmed Express for its fiscal second quarter of the year came in at $13.20 million. The online pet pharmacy reported operating income of $12.25 million during the same time last year.

Petmed Express also reported revenue of $71.40 million for its fiscal second quarter of 2018. This is up from the company’s revenue of $66.71 million reported in its fiscal second quarter of the previous year. However, analysts’ were looking for revenue of $72.15 million for the period, but this wasn’t enough to keep Petmed Express stock down today.

Petmed Express’ most recent earnings report also includes a dividend announcement for investors. The company will be paying a dividend of 27 cents per share to holders of Petmed Express stock. This dividend will be payable on Nov. 16, 2018 to investors on record as of Nov. 5, 2018.

PETS stock was up 9% as of noon Monday, but is down 40% year-to-date.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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