PetIQ, Inc. - PETQ STOCK NEWS

PetIQ, Inc. (PETQ) reported its financial results for 2022, achieving net sales of $921.5 million, in line with guidance, and a record adjusted EBITDA of $77.7 million, up 11.4%. The company recorded a net loss of $48.2 million due to a non-cash goodwill impairment. The acquisition of Rocco & Roxie in January 2023 is expected to enhance its product portfolio and market distribution. For 2023, PetIQ anticipates net sales of $970 million to $1,030 million and adjusted EBITDA of $86 million to $92 million. The company emphasizes strong cash generation with $48 million from operations in 2022.

PetIQ, Inc. (Nasdaq: PETQ) has announced that it will release its financial results for the fourth quarter and full year ended December 31, 2022, on February 28, 2023, after market close. A conference call to discuss these results will take place at 4:30 p.m. ET on the same day. North American listeners can join by calling 844-826-3033, while international listeners can dial 412-317-5185. The call will also be streamed live on the company’s website. PetIQ is recognized for providing affordable veterinary products and services through over 60,000 distribution points, supported by its manufacturing facility in Omaha, Nebraska, and its VIP Petcare service operates in 41 states.

Simple Mills has appointed Sheryl O’Loughlin, an industry veteran with over 30 years of experience in consumer products, to its Board of Directors. O’Loughlin brings significant expertise from her previous leadership roles at Clif Bar & Company and REBBL, where she spearheaded a 23-fold revenue growth. Her appointment aims to bolster Simple Mills’ mission of promoting holistic health through better-for-you foods and innovative product strategies. The brand is currently the leading provider in the natural channel, with over 28,000 store distributions and a strong e-commerce presence.

PetIQ reported its third-quarter 2022 results, achieving net sales of approximately $209.7 million, at the high end of guidance. Adjusted EBITDA reached $19.2 million, exceeding expectations and reflecting 17.4% year-over-year growth. Cash from operations hit a record of $64.5 million. However, the company faced a net loss of $49.6 million due to a non-cash goodwill impairment charge. For 2022, PetIQ maintains its revenue guidance of $920 million to $940 million and adjusted EBITDA guidance is adjusted to $93 million to $95 million.

PetIQ has announced it will release its financial results for Q3 2022 on November 9, 2022, after market close. A conference call with the executive management team will be held at 4:30 p.m. ET on the same day to discuss the results. North American listeners can join the call at 844-826-3033, while international participants can dial 412-317-5185. The discussion will be accessible via the Company's website and recorded playback will be available until November 30, 2022.

PetIQ, a prominent pet medication company, has announced a stock repurchase program authorized by its Board of Directors. This initiative allows PetIQ to repurchase up to $30 million of its outstanding common stock. CEO Cord Christensen expressed confidence in the company's financial strength and growth prospects, stating that the current share price is undervalued. The repurchases will be conducted in compliance with market regulations and are aimed at enhancing long-term shareholder value.

PetIQ reported a net income increase of 16.0% to $4.7 million in Q2 2022, with adjusted EBITDA at approximately $28 million. However, net sales saw a 7.0% decline to $252.0 million. The company attributed sales declines to a slower flea and tick season and shifts in consumer shopping habits. Despite the challenges, gross margin rose by 260 basis points to 24.6%, and the services segment grew 17.2% to $33.0 million. For Q3 2022, PetIQ anticipates net sales between $200 million and $210 million, with year-end net sales guidance set at $920 million to $940 million.

PetIQ, Inc. (NASDAQ: PETQ) announced it will release its financial results for Q2 2022 on August 9, 2022, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET, where the executive management team will discuss the results. Interested parties can participate by dialing in or accessing the webcast via the company’s website. PetIQ is a prominent player in pet medication and wellness, offering affordable veterinary products through over 60,000 distribution points and operating VIP Petcare services in over 2,900 locations across 42 states.

EAGLE, Idaho, May 23, 2022 (GLOBE NEWSWIRE) -- PetIQ, a leader in pet medication and wellness, announced that its management team will present at the William Blair 42nd Annual Growth Stock Conference on June 6, 2022, at 2:20 p.m. ET. The presentation will be accessible live via the Company's website at PetIQ.com.

PetIQ focuses on providing affordable veterinary products through over 60,000 distribution points, including retail and e-commerce. Their VIP Petcare service operates in 42 states, ensuring convenient access to veterinary wellness services.