07:56 AM EDT, 08/05/2025 (MT Newswires) -- Pet Valu Holdings ( PTVLF ) on Tuesday increased its 2025 outlook following a rise in second-quarter net income and revenue.

The company named Greg Ramier, its current president and chief operating officer, to succeed Richard Maltsbarger as chief executive, effective Sept. 21.

Pet Valu ( PTVLF ) reported net income for the three-months ended June 28, of $21.8 million, compared with $17.8 million a year earlier. Adjusted net income per diluted share was $0.38 in Q2, compared with $0.36, a year-ago, beating consensus estimate compiled by FactSet of $0.33 per share.

Revenue increased to $280.6 million in the quarter, compared with $265.2 million, a year-ago, mostly driven by growth in franchise and other revenues, and retail sales. The results missed the consensus estimate compiled by FactSet of $281.5 million.

Pet Valu ( PTVLF ) now expects 2025 revenue between $1.18 billion and $1.21 billion, adjusted EBITDA between $257 million and $262 million, adjusted net income per diluted share between $1.63 and $1.68, and net capital expenditures of about $45 million.

It also declared a dividend of $0.12 per common share, unchanged from the prior quarter, payable on September 15 to holders of record on August 29.

The company said Maltsbarger will continue as CEO until Sept. 21, after which he will become a senior advisor to assist with the leadership transition until his retirement on April 4, 2026. He will also continue to serve as a member of the board until his retirement.

Shares of the company closed down 0.8% to $33.28 on Friday on the Toronto Stock Exchange.