<div id="readability-page-1">12:12 PM EST, 12/11/2025 (MT Newswires) -- Chewy (CHWY) delivered largely in-line results in fiscal Q3, supported by strong active customer growth and encouraging early comments on the 2026 outlook, RBC Capital said Wednesday in a report.Management's Q4 guidance met expectations and includes a $10 million one-time charge tied to the SmartEquine acquisition, the report said. Adjusted earnings before interest, taxes, depreciation, and amortization margins are forecast to expand 120 basis points to 5.1% from the implied 4.7% at the midpoint of guidance, RBC said.For 2026, Chewy expects trends similar to 2025, with flat pet household growth offset by pricing gains and margin improvement driven by lower operating costs and increased automation in fulfillment centers, the report said.RBC raised its net sales growth forecasts to 6.2% in 2025 and 7.9% in 2026, while keeping the 2026 adjusted EBITDA margin estimate unchanged at 6.2%.RBC maintained its outperform rating on Chewy stock with a price target of $43.Price: 34.42, Change: -0.95, Percent Change: -2.68 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

CHWY

RBC Capital 報告稱，Chewy 第三季度的業績符合預期，主要受活躍客户增長的推動。第四季度的指引包括來自 SmartEquine 收購的 1000 萬美元費用。2026 年的展望顯示寵物家庭增長持平，價格上漲和利潤率改善。RBC 預測 2025 年淨銷售增長 6.2%，2026 年增長 7.9%，維持 6.2% 的 EBITDA 利潤率預期。Chewy 的股票評級維持 “跑贏大盤”，目標價為 43 美元

RBC 表示，Chewy 憑藉客户增長勢頭和利潤率提升，展現出 2026 年穩健的前景