PetSmart (PETM) Q4 Earnings & Revenue Beats Estimates

PetSmart, Inc. (PETM), specialty retailer of products, services, and solutions for pets, came out with fourth-quarter fiscal 2014 results, wherein adjusted earnings of $1.43 per share beat the Zacks Consensus Estimate of $1.37, and surged 11.7% from the prior-year quarter.

Including one-time items earnings came in at $1.32 per share, up 3.1% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2014 and 2015 has been portraying an uptrend in the last 30 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 4.5%.

Revenues: PetSmart generated total revenue of $1,913.8 million that increased 6% year over year, and also came ahead of the Zacks Consensus Estimate of $1,862 million. Consolidated comparable-store sales jumped 2.6%.

Key Events: Last December PetSmart entered into a deal to be acquired by a consortium led by BC Partners at $83.00 per share in cash. The transaction is expected to conclude in the first quarter of fiscal 2015.

Zacks Rank: Currently, PetSmart carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.

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