PetSmart First Quarter Earnings Sneak Peek

PetSmart, Inc. (NASDAQ:PETM) will unveil its latest earnings on Tuesday, May 22, 2012. PetSmart is a specialty provider of products, services, and solutions for the lifetime needs of pets. The company offers a line of products for all the life stages of pets and offers various pet services.

PetSmart, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 73 cents per share, a rise of 19.7% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 69 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 73 cents during the last month. Analysts are projecting profit to rise by 22.7% versus last year to $3.13.

Past Earnings Performance: Last quarter, the company beat estimates by one cent, coming in at profit of 91 cents a share versus the estimate of net income of 90 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts predict a rise of 7.4% in revenue from the year-earlier quarter to $1.6 billion.

Analyst Ratings: Analysts seem relatively indifferent about PetSmart with 12 of 20 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 13% to $102 million (90 cents a share) from $90.3 million (76 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 7.7% to $1.64 billion from $1.52 billion.

Key Stats:

After experiencing income increases the last three quarters, the company is hoping to keep the good news coming with this earnings announcement. Net income rose 26.4% in the second quarter of the last fiscal year and 23.1% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year.

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 6.8% in the first quarter of the last fiscal year, 7% in the second quarter of the last fiscal year and 7.9% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between February 21, 2012 and May 16, 2012, the stock price rose $3.74 (6.9%), from $54.29 to $58.03. The stock price saw one of its best stretches over the last year between January 3, 2012 and January 12, 2012, when shares rose for eight straight days, increasing 5.3% (+$2.64) over that span. It saw one of its worst periods between May 2, 2012 and May 9, 2012 when shares fell for six straight days, dropping 4.3% (-$2.54) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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