Chewy Inc: Previewing today’s virtual meeting with CFO + IR

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Chewy Inc: Previewing today’s virtual meeting with CFO + IR

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Chewy Inc

Previewing today’s virtual meeting with

CFO + IR

Reiterate Rating: BUY | PO: 31.00 USD | Price: 19.42 USD

Preview: Today we host Chewy mgmt. for Virtual Meeting 30 June 2026

Today, we will host Chewy for a virtual investor meeting at 1:00 PM EST as part of our Equity

TMT Summer Fridays series with TMT Spec Sales (please contact your BofA Salesperson

Michael McGovern

to sign up). Chewy management will include CFO Chris Deppe and Head of IR & Research Analyst

Strategic Finance Lee Horowitz. Most of Q&A will focus on key takeaways from the BofAS +1 415 676 3520

recent quarterly earnings print (reported 6/10), as well as questions on Chewy Vet Care mmcgovern@bofa.com

(Modern Animal acquisition), and the AI strategy. Other question topics include Chewy's

growth levers amid macro/pet category softness, competitive positioning versus

Amazon, pet household formation trends, AI-driven advantages, NSPAC growth/recovery Stock Data

drivers, and FY26 EBITDA margin expansion cadence. On vet care, we will address CVC's

progress toward 2026 revenue & clinic targets following Modern Animal integration, the Price 19.42 USD

bridge to Modern Animal becoming accretive, & management's build-versus-buy Price Objective 31.00 USD

philosophy & capital allocation framework for L.T. veterinary business. Date Established 10-Jun-2026

Investment Opinion C-1-9

Data supports mgmt view of weak macro (not share loss) 52-Week Range 17.40 USD - 43.50 USD

The Bank of America Institute recently put out a report in May titled, The price of pet Mrkt Val (mn) / Shares Out 8,339 USD / 429.4

parenting has gone off leash (see report), with relevant read throughs for CHWY. Recent (mn)