PETsMART beats by $0.01, beats on revs; guides Q2 EPS below consensus; guides FY09 EPS in-line

Briefing.com

Posted: 2008-05-21 16:07:00

Reports Q1 (Apr) earnings of $0.32 per share, $0.01 better than the First Call consensus of $0.31; revenues rose 9.1% year/year to $1.21 bln vs the $1.2 bln consensus. PETM sees FY08 rev growth in the high single digits; consensus estimates are for growth of ~10%. Co issues downside guidance for Q2, sees EPS of $0.26-0.30 vs. $0.34 consensus. Co sees Q2 comparable store sales growth in the low-single digits. Co issues in-line guidance for FY09, sees EPS of $1.51-1.59 vs. $1.51 consensus. Sees FY08 rev growth in the high single digits; consensus estimates are for growth of ~10%.