PetIQ, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:46 pm EST
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PetIQ, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 277.02 million compared to USD 209.73 million a year ago. Net income was USD 0.451 million compared to net loss of USD 49.14 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 1.68 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 1.68 a year ago.
For the nine months, revenue was USD 882.04 million compared to USD 737.43 million a year ago. Net income was USD 19.62 million compared to net loss of USD 41.37 million a year ago. Basic earnings per share from continuing operations was USD 0.67 compared to basic loss per share from continuing operations of USD 1.42 a year ago. Diluted earnings per share from continuing operations was USD 0.67 compared to diluted loss per share from continuing operations of USD 1.42 a year ago.
PetIQ, Inc. is a pet medication and wellness company, which provides veterinary products and services. The Company operates through two segments: Products and Services. Products segment manufactures and distributes pet medication and health and wellness products to major United States retail and e-commerce channels through more than 60,000 points of distribution. It is focused its offerings on value-branded products, and third-party branded products for dogs and cats, including pet Rx medications, OTC medications, and wellness products. Services segment provides a comprehensive suite of services at approximately 2,600 community clinic locations and wellness centers hosted at retailers across 39 states. The segmentâs services include diagnostic tests, vaccinations, prescription medications, microchipping, grooming and hygiene and wellness checks. The Rx pet medications products include flea and tick control, heartworm preventatives, arthritis, thyroid, and other specialty medications.
PETIQ, INC. 
