Pets at Home Earnings: Here’s What to Expect

Pets at Home (LON: PETS) is set to report its preliminary full-year 2024 results on Tuesday, May 29, and with the stock down over 14% this year, investors will be hoping for positive news to boost the share price.

The company's shares have struggled over the last couple of years, in fact, as pressure on consumers from rising inflation saw demand weaken for pet accessories. 

Guidance

 In its pre-close statement, the company said trends in the fourth quarter have been broadly as expected across the Retail and Vets segments, and the group's underlying profit before tax (PBT) for FY24 is expected to be £132 million, in line with previous guidance.

In addition, Pets at Home expects to finish the year in a net cash position, having returned over £100 million to shareholders in FY24 via dividends and buybacks and after incurring £3 million more non-underlying costs than previously expected due to higher restructuring costs.

Analyst Consensus

According to the company-compiled consensus, seven analysts have a Buy rating on Pets at Home, while two have a Hold rating and one has a Sell rating on the stock. 

The company-compiled consensus estimate for FY24 full-year underlying profit before tax is £136 million with a range of £132 million to £141 million. 

At the start of May, analysts at Deutsche Bank initiated coverage of Pets at Home Group with a Buy rating and a 370p price target. The investment bank highlighted the company as a leading UK Pet Care business, noting its national network of retail stores and vet practices, which are complemented by its online proposition.