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petco THE HEALTH + WELLNESS CO . Petco Health + Wellness Company , Inc. announces record revenue and earnings with 15 percent comp growth and a 32 percent two - year comp November 18 , 2021 - Rapidly expanding vet business , digital growth , recurring revenue programs and strong consumables sales drove six consecutive quarters of double - digit comparable sales growth with twelve consecutive quarters of comparable sales growth - Net revenue of $ 1.4 billion grew 15 percent year over year with strong profit flow through - Earnings per share of $ 0.20 ; Adjusted Earnings Per Share1 of $ 0.20 - Raised full year 2021 guidance on top- and bottom - line SAN DIEGO , Nov. 18 , 2021 / PRNewswire / -- Petco Health and Wellness Company , Inc. ( Nasdaq : WOOF ) , a complete partner in pet health and wellness , today released its financial results for its third quarter ended October 30 , 2021 . petco THE HEALTH + WELLNESS CO . In the third quarter of 2021 , Petco delivered net revenue of $ 1.4 billion , up 15 percent versus prior year . Net income improved by $ 49.3 million from prior year to $ 52.8 million or $ 0.20 per share . Trailing twelve - month net income improved by $ 156.8 million from prior year to $ 129.3 million . Adjusted Net Income¹ for the third quarter increased $ 40.4 million from prior year to $ 54.0 million or $ 0.20 per share , while Adjusted EBITDA¹ increased by 17 percent from prior year to $ 138.5 million . " Q3 marked our sixth consecutive quarter of double - digit growth with a 15 percent Q3 comp , lapping 17 percent a year ago , giving us confidence to raise guidance for Full Year 2021 , " said Ron Coughlin , Chairman and CEO of Petco . " Our focus on long - term , sustainable growth is powered by continued execution against our transformation , with one of the fastest veterinary expansions in history , further enhancement of our digital competitive advantages , expansion of our merchandise differentiation through powerful owned and exclusive brands , and our incredible Petco Partners who are improving more and more pet lives every single day in a challenging environment . " Additionally , through the first thirty - nine weeks of 2021 , total debt remained roughly flat at $ 1.7 billion with Net Debt¹ improving $ 94.8 million to $ 1.5 billion driven by net cash flow from operations of $ 288.4 million and Free Cash Flow¹ of $ 124.1 million , up 43 percent and 18 percent , respectively , from the first thirty - nine weeks of 2020. Also , in the first thirty - nine weeks of 2021 , Net Debt¹ / Trailing Twelve Month Adjusted EBITDA¹ decreased 19 percent or 0.6x to 2.6x driven by Free Cash Flow¹ generation and growth in Adjusted EBITDA¹ . Fiscal Q3 2021 Highlights : Comparisons are third quarter of 2021 ended October 30 , 2021 versus third quarter of 2020 ended October 31 , 2020 unless otherwise noted • Net revenue increased 15 percent to $ 1.4 billion driven by comp sales growth of 15 percent • Net income increased $ 49.3 million to $ 52.8 million or $ 0.20 per share • Adjusted Net Income¹ increased $ 40.4 million to $ 54.0 million or $ 0.20 per share • Adjusted EBITDA¹ increased 17 percent to $ 138.5 million 3 • Trailing twelve - month net income increased $ 156.8 million to $ 129.3 million • Trailing Twelve Month Adjusted EBITDA¹ increased $ 100.3 million to $ 567.9 million • Net cash provided by operating activities increased $ 87.0 million to $ 288.4 million in the first thirty - nine weeks of 2021 • Free Cash Flow¹ increased $ 18.9 million to $ 124.1 million in the first thirty - nine weeks of 2021 • Total debt decreased $ 1.6 billion , or 48 % , to $ 1.7 billion driven by the proceeds generated from the company's initial public offering , related recapitalization , and Free Cash Flow¹ generation Net Debt¹ decreased $ 1.6 billion or 52 % to $ 1.5 billion