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PETQ

PetIQ

$28.26

1 (3.67%)

17:33
08/14/18
08/14
17:33
08/14/18
17:33

PetIQ reports Q2 adjusted EBITDA of $15.8M versus $7.6M in Q2 last year

The company reported Q2 gross profit was $26.3M, an increase of 65%, compared to $16M in the same period last year. Gross margin for the quarter was 15.4%. Adjusted gross profit was $28.1M and adjusted gross margin was 16.4% for the second quarter 2018. The GAAP gross margin to adjusted gross margin difference of 100 basis points is a result of the exclusion of non-same-store Service segment revenue contribution of $0.8M and related costs of sales of $1.7M, as well as clinic launch expenses of $0.M. The Company capitalized on opportunities to grow with the Company's animal health partners and drove incremental sales of distributed products. This resulted in a shift of our product sales mix, but had no effect on gross profit earned.Second quarter adjusted EBITDA was $15.8M, representing an adjusted EBITDA margin of 9.2%, compared to $7.6M, representing 8.8%, for the same period in the prior year.

  • 14

    Aug

PETQ PetIQ
$28.26

1 (3.67%)

11/20/17
JEFF
11/20/17
UPGRADE
Target $26
JEFF
Buy
PetIQ upgraded to Buy from Hold at Jefferies
Jefferies analyst Kevin Grundy upgraded PetIQ to Buy saying the recent pullback in shares provides an attractive entry point. In a non-deal roadshow, management conveyed a "high degree of confidence" in the company's outlook, Grundy tells investors in a research note. He believes the short thesis that has emerged "brings little new" information.
04/03/18
RHCO
04/03/18
NO CHANGE
Target $30
RHCO
Buy
PetIQ still has long growth runway, says SunTrust
Following the filing of pro forma financials of PetIQ's VIP business, SunTrust analyst William Chappell, Jr. reiterated his Buy rating and $30 price target on the shares, stating that he still sees the company having a long runway of growth ahead for both its products and services businesses.
04/13/18
OPCO
04/13/18
NO CHANGE
Target $28
OPCO
Outperform
PetIQ in the process of building credibility among investors, says Oppenheimer
Oppenheimer analyst Brian Nagel told investors in a research note that he came away from a recent meeting with PetIQ CEO Cord Christensen and VIP Petcare CEO Will Santana "incrementally positive." He said the company, which in the short time since its July 2017 IPO has amounted to "one of the more controversial stories among smaller cap consumer positives," is in the process of building credibility among investors and this process takes time. His Outperform rating and $28 price target reflects his intermediate to longer-term confidence in the PetIQ model and senior management, he said.
07/02/18
JEFF
07/02/18
NO CHANGE
Target $32
JEFF
Buy
Jefferies remains bullish on PetIQ, boosts price target to $32
Jefferies analyst Kevin Grundy raised his price target for PetIQ (PETQ) to $32 from $30 following a Walmart (WMT) store visit to a new VetIQ Petcare clinic in Lehighton, PA. The analyst sees see PetIQ's retail strategy as sensible given the high margin/return profile of the model. He believes the company's clinic rollout is on track and remains bullish on the stock with a Buy rating.

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OXM

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NEXT

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GNTY

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