Pet Valu (PET) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 3.5% YoY to $299.5M; same-store sales returned to growth at 1.5%.

• Systemwide sales increased 3.9% to $388.6M, with seven store openings bringing the network to 882 locations.

Financial highlights

• Adjusted EBITDA increased 4.8% to $66.6M; adjusted net income rose 8.0% to $29.8M.

• Adjusted net income per diluted share rose 10.0% to $0.44; reported diluted EPS was $0.39 versus $0.36.

• Operating income was $43.4M, up 3.4% YoY; net income was $26.3M, up 5.8%.

Outlook and guidance

• FY2026 52-week comparable revenue growth is expected at 2.5%-3.5%, with adjusted EBITDA margin of ~21.5% and adjusted net income per diluted share growth in the low single digits.

• Outlook assumes ~37 new stores, same-store sales growth of flat to 1%, and higher wholesale penetration.

• FY2026 business reinvestment is forecast at ~$30M, including ~$18M net capex and ~$12M transformation costs.

• Guidance reflects value-seeking demand and higher fuel costs, partly offset by operating expense leverage; FY2025’s 53rd week contributed an estimated ~2% to reported revenue, adjusted EBITDA and adjusted net income.