Petco reports Q2 sales of $1.5 billion, adjusted EBITDA of $122 million

Petco Health and Wellness (NASDAQ: WOOF ) reported second-quarter financial results on Wednesday.

The transcript from the company's second-quarter earnings call has been provided below.

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For comprehensive financial data and transcripts, visit View the webcast at Summary Petco Health and Wellness Company, Inc. reported Q2 2026 sales of $1.5 billion and adjusted EBITDA of $122 million, including a $6.8 million net tariff refund.

The company relaunched its customer membership program, Petco Perks, which had a significant impact on Q2 net sales but is expected to drive long-term growth.

Petco prepaid an additional $75 million in debt due to strong cash generation and solid results.

The company is focusing on expanding its cat category, introducing new brands and private labels, and leveraging its omnichannel ecosystem to enhance customer engagement.

Petco's veterinary business showed strong results with double-digit growth in pet visits and doctor days, and plans to open new vet hospitals in 2027.

The company is testing a new store format designed to enhance customer experience, showing promising results in early trials.

Petco affirmed its full-year sales and adjusted EBITDA guidance, expecting net sales flat to up 1.5% and adjusted EBITDA between $415 and $430 million.

The company reported a positive comp for the second consecutive quarter and maintained disciplined expense management, with Q2 operating profit of $48 million, up from $43 million last year.

Full Transcript OPERATOR Good day and welcome to Petco's second quarter 2026 earnings conference call.

All participants will be in listen-only mode.

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Today's earnings call will last 45 minutes, including remarks from management followed by a Q&A session.

We ask that you please limit yourself to one question and one follow-up.

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Please note this event is being recorded.

I would now like to turn the conference over to Roxanne Meyer, Vice President of Investor Relations and Treasury.

Please go ahead.

Roxanne Meyer, Vice President of Investor Relations and Treasury Good afternoon and welcome to Petco's second quarter fiscal 2026 earnings conference call.

Joining me on the call today are Joel Anderson, Petco's Chief Executive Officer, and Sabrina Simmons, Petco's Chief Financial Officer.

In addition to the earnings release, we've posted a slide presentation on our website at ir.petco.com.

I'd like to remind everyone that on this call we will make certain forward-looking statements which are subject to a number of risks and uncertainties that could cause actual results to differ materially from such statements.

These risks and uncertainties include those set out in our earnings materials and SEC filings.

In addition, on today's call we will refer to certain non-GAAP financial measures.

Reconciliations of these measures can be found in our earnings release, presentation, and SEC filings.

With that, I'll turn the call over to Joel.

Joel Anderson, Chief Executive Officer Thank you, Roxanne, and good afternoon, everyone.

Thank you for joining us to discuss our second quarter results.

Our focus this quarter was on accelerating progress across our phase three Reach for the Sky strategy.

The team successfully gained traction across all four of our strategic pillars, and we delivered solid profitability relative to our financial outlook for the quarter.

We delivered positive comps for the second quarter in a row.

Sales were 1.5 billion and adjusted EBITDA was 122 million, which included a net tariff refund of 6.8 million.

As noted in our earnings release today, we voluntarily prepaid an additional 75 million in debt on September 1st, given our solid results, healthy cash generation, and importantly our confidence as we head into the second half, which Sabrina will discuss shortly.