08:40 AM EST, 11/04/2025 (MT Newswires) -- Pet Valu Holdings ( PTVLF ) on Tuesday reported a slight drop in third-quarter adjusted earnings, even if it still beat analysts' estimates there, while revenues were higher but lower than forecast, all leading to the company narrowing its 2025 outlook.

The company's third-quarter adjusted net income fell to C$27.6 million compared to $29.9 million in the corresponding year-ago quarter.

Third-quarter adjusted net income per diluted share eased to $0.40 per diluted share compared to $0.41 per diluted share in the year-ago quarter, but came in above consensus estimates compiled by FactSet of $0.39 per share. The company said that the decrease was primarily due to the lower adjusted net income, partially offset by a lower weighted average number of common shares outstanding as a result of share repurchases.

Q3 revenue was reported at $289.5 million, up 4.9% compared to $276 million in the year-ago quarter, but missing consensus estimates compiled by FactSet of $294.8 million. The company said that the increase in revenue was mostly driven by growth in retail sales, and franchise and other revenues.

PET narrowed its 2025 outlook. It now expects fiscal 2025 revenue between $1.175 billion and $1.185 billion, adjusted EBITDA between $257 million and $260 million, adjusted net income per diluted share between $1.63 and $1.66, and net capital expenditures of approximately $45 million.

The company in its second-quarter earnings release had announced that it expects revenue between $1.18 billion and $1.21 billion, adjusted EBITDA between $257 million and $262 million, and adjusted net income per diluted share between $1.63 and $1.68 for 2025.

On November 3, 2025, the Board declared a dividend of $0.12 per common share payable on December 15, 2025 to holders of common shares of record as at the close of business on November 28, 2025.

"We delivered another quarter of responsible growth in Q3, highlighted by further share gains, continued same-store transaction growth and leverage on our supply chain investments," said Greg Ramier, Chief Executive Officer of Pet Valu ( PTVLF ).