PetIQ (PETQ) reported earnings on Mon 11 March 19 (a/h)

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** 2 weeks later **

PetIQ reports Q4 (Dec) results, beats on revs; guides FY19 revs in-line

• Reports Q4 (Dec) loss of $0.16 per share, may not be comparable to the S&P Capital IQ Consensus of ($0.04); revenues rose 113.9% year/year to $111 mln vs the $98.72 mln S&P Capital IQ Consensus.
  • Adjusted EBITDA of $6.5 million compared to $3.6 million, an increase of 82%.
• Co issues in-line guidance for FY19, sees FY19 revs of At least $600 mln vs. $602.19 mln S&P Capital IQ Consensus.
  • Adjusted EBITDA of at least $51 million, an increase greater than 23% from growth of 86% in 2018;
  • The opening of at least 80 veterinarian wellness clinics
• 2023 Outlook
  • Net sales of approximately $1.0 billion;
  • Adjusted EBITDA margin of greater than 15%;
  • Wellness center locations of 1,000.

PetIQ (PETQ) reported earnings on Tue 14 Aug 2018 (a/h)

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PetIQ beats by $0.28, beats on revs; guides FY18 revs above consensus

• Reports Q2 (Jun) earnings of $0.66 per share, $0.28 better than the Capital IQ Consensus of $0.38; revenues rose 96.2% year/year to $171.1 mln vs the $148.48 mln Capital IQ Consensus.
• Adjusted gross profit was $28.1 million and adjusted gross margin was 16.4% for 2Q18.
• PETQ opened 17 wellness centers and three regional offices during the quarter, for a total of 29 wellness centers and 34 regional offices in operation as of quarter-end with all 20 VetIQ wellness centers currently open.
• Co issues upside guidancefor FY18, sees FY18 revs of $500.0 mln vs. $481.45 mln Capital IQ Consensus Estimate. Co reaffirms Adj EBITDA guidance of $40-$45 mln.

PetIQ (PETQ) reported earnings Mon 14 Aug 2017 (b/o)

PetIQ reports Q2 results (no estimates)

• Net income was $6.1 million for Q2 compared to $0.6 million for the prior year period. Adjusted EBITDA increased $4.2 million to $7.6 million.
• Net sales increased 42.3% to $87.2 million for the second quarter of 2017 compared to $61.3 million for the same period in the prior year

PetIQ (PETQ) started trading on the Nasdaq on 21 July 2017

PetIQ, which distributes pet medications, sold 6,250,000 million shares at $16 a share to raise $100 million. The company posted net sales of $200.2 million in 2016 on top of a loss of $3.4 million. However, in the three months ended in March of this year, the company swung to a profit, with net income of $4.3 million on sales of $67 million. It granted underwriters a 30-day option to sell an additional 937,500 shares. Jefferies and William Blair were the lead underwriters on the offering.

PetIQ, Inc. (PETQ) a manufacturer and distributor of pet medications.  The company sells medication in three categories.

1. Prescription medications for heartworm prevention, arthritis and heart disease.
2. Over-the-counter medications for flea and tick prevention.
3. Health and wellness products, which include vitamins, treats, hygiene products and nutritional supplements.

The company has its products in 40,000 retail pharmacies. It also has supply deals with Wal-Mart (WMT), Sam’s Club, Costco (COST), PetSmart (PETM), Petco (PETC), Kroger (KR), Target (TGT) and BJ’s Wholesale.

Americans spent $81.4 billion on pet products and services in 2016, compared to $28.5 billion in 2001.  Sales of pet medications alone are estimated to have grown to $7.4 billion in 2016 from $5.8 billion in 2011 and are expected to reach $8.9 billion by 2019, according to PetIQ's Form S-1 filed with the Securities and Exchange Commission.

Scott Adcock, left, cofounder and president of PetIQ, an Eagle pet-medications maker, and Cord Christensen, right, cofounder and CEO

PetIQ employees and some of their family members attended a ceremony Friday, July 21, 2017, at Nasdaq’s headquarters in New York City to mark the initial offering of PetIQ stock to the public. 

PetIQ CEO Cord Christensen

PetIQ products

PetIQ, Inc. is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield. It distributes the products through veterinarian, retail and e-commerce channels. The Company offers its products in a range of categories, including Rx Medications, OTC Medications and Supplies, and Health and Wellness Products. Rx Medications offering includes heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics and other specialty medications. The Company manufactures Heart Shield Plus, version of Heartgard Plus, which prevents heartworm infection in dogs. The Company also manufactures TruProfen, the version of Rimadyl, which treats arthritis in dogs. OTC Medications and Supplies include flea and tick control products.

Website:  

https://petiq.com

Address

Suite 120 500 E. Shore Drive 83616
Eagle, ID
United States