Chewy (NYSE:CHWY) Updates Q2 2026 Earnings Guidance

Key Points

• Chewy lowered its Q2 2026 outlook, guiding for EPS of $0.36 and revenue of $3.3 billion. Both figures came in below Wall Street expectations, which had been $0.37 EPS and $3.4 billion in revenue.
• The company is also updating FY 2026 guidance, though the article does not provide the full details of the new annual outlook. The update suggests management is taking a more cautious stance heading into the rest of the year.
• Sentiment around CHWY remains mixed: analysts largely maintain a Moderate Buy view, but recent target cuts and concerns about consumer spending, inflation, and near-term growth have kept pressure on the stock.

Chewy (NYSE:CHWY - Get Free Report) issued an update on its second quarter 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.360-0.360 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of $3.3 billion-$3.3 billion, compared to the consensus revenue estimate of $3.4 billion. Chewy also updated its FY 2026 guidance to EPS.

Wall Street Analyst Weigh In

Several brokerages recently commented on CHWY. Zacks Research lowered shares of Chewy from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $47.00 price target on shares of Chewy in a research report on Thursday, June 4th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $28.00 price target (down from $38.00) on shares of Chewy in a research report on Thursday, March 26th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price target on shares of Chewy in a research report on Monday, April 27th. Finally, UBS Group dropped their price target on shares of Chewy from $42.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.24.

Chewy Stock Up 1.2%

CHWY stock opened at $20.39 on Wednesday. Chewy has a 12 month low of $19.30 and a 12 month high of $46.35. The firm has a market cap of $8.50 billion, a P/E ratio of 39.21, a P/E/G ratio of 0.89 and a beta of 1.44. The company's 50-day moving average price is $23.91 and its two-hundred day moving average price is $27.71.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. Chewy had a net margin of 1.77% and a return on equity of 53.48%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. Chewy has set its Q2 2026 guidance at 0.360-0.360 EPS. Equities analysts predict that Chewy will post 0.87 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 4,220 shares of Chewy stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $108,032.00. Following the sale, the chief executive officer directly owned 123,955 shares in the company, valued at $3,173,248. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of Chewy stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 95,675 shares of company stock worth $2,459,955. 0.34% of the stock is currently owned by corporate insiders.

Key Chewy News

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: William Blair’s Dylan Carden reiterated a Buy rating, calling Chewy’s shares undervalued and pointing to structural margin upside and long-term free cash flow potential. Article: Dylan Carden Reiterates Buy on Chewy, Citing Undervalued Shares, Structural Margin Upside, and Long-Term Free Cash Flow Potential
• Neutral Sentiment: Chewy is expected to report Q1 earnings before the open on June 10, and analysts are comparing results against lowered estimates as the company heads into a closely watched print. Article: Chewy Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
• Neutral Sentiment: There has been unusually heavy options activity in CHWY, suggesting traders are positioning for a potentially larger post-earnings move. Article: Chewy Target of Unusually High Options Trading NYSE: CHWY
• Neutral Sentiment: Jim Cramer said Chewy looks “so cheap,” but also raised the key question of whether consumers are cutting back on pet spending, highlighting the central debate around the stock. Article: Jim Cramer on Chewy: “That Stock Is So Cheap”
• Negative Sentiment: Recent previews note that Chewy’s stock has been hit hard over the past year, with investors worried about consumer weakness, inflation pressure, and whether the company can beat lowered expectations. Article: Chewy Q1 Preview: Stock Hovers Near 2-Year Lows, Wall Street Cuts Targets Ahead Of Earnings
• Negative Sentiment: A valuation-focused article also highlighted scrutiny around Chewy’s AI spending, vet clinic expansion, and softer consumer confidence, reinforcing concerns that near-term spending may stay pressured. Article: Chewy (CHWY) Valuation Check As Q1 Earnings, AI Spending And Vet Expansion Draw Investor Scrutiny

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CHWY. Osterweis Capital Management Inc. acquired a new position in shares of Chewy in the 2nd quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new stake in shares of Chewy in the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Chewy in the 4th quarter valued at $45,000. EverSource Wealth Advisors LLC increased its stake in shares of Chewy by 412.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company's stock valued at $46,000 after acquiring an additional 878 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Chewy in the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Company Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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