Chewy, Inc. (NYSE: CHWY) announced its first quarter fiscal 2026 financial results on June 4, 2026. For the quarter ended May 3, 2026, the company reported net sales of $2.9 billion, a 3% increase year-over-year. Net income was $67.2 million, compared to $66.4 million in the same period last year.
Adjusted EBITDA for the quarter was $140.4 million, representing a 4.9% margin. Diluted earnings per share (EPS) were $0.15, compared to $0.15 in the prior year period. Active customers totaled 20.1 million, down slightly from 20.2 million a year ago, while net sales per active customer reached $576, up from $560.
Chewy's gross margin improved to 29.5% from 28.9% in Q1 2025, driven by higher-margin products and operational efficiencies. The company also generated $212.6 million in cash from operations and $153.9 million in free cash flow during the quarter.
For the second quarter of fiscal 2026, Chewy expects net sales between $2.91 billion and $2.93 billion, with adjusted EBITDA margin of approximately 4.7% to 4.9%. The company continues to invest in its healthcare and international expansion initiatives.
