Petco Health & Wellness Co. Inc. shares rose 4.5% in Tuesday premarket trading after it reported first-quarter profit and revenue that beat expectations. The company posted net income of $24.7 million, or 9 cents per share, up from $7.6 million, or 3 cents per share, last year. Adjusted EPS of 17 cents beat the FactSet consensus for 15 cents. Revenue of $1.476 billion was up from $1.415 billion last year and ahead of the FactSet consensus for $1.450 billion. Comparable sales growth was 5.1%, beating the FactSet consensus for 2.8% growth. Petco maintained its fiscal year guidance for net revenue of $6.15 billion to $6.25 billion and adjusted EPS of 97 cents to $1. The FactSet consensus is for revenue of $6.194 billion and EPS of 99 cents. Petco stock is down 26.2% for the year to date while the S&P 500 index is down 16.6% for the period.
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