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GrubHub Earnings: GRUB Stock Plummets 41% on Q3 Miss, Disappointing Guidance

GRUB stock saw several downgrades today

GrubHub (NYSE:GRUB) earnings for the food delivery company’s third quarter of 2019 have GRUB stock taking one heck of a beating on Tuesday. This comes following the company’s non-GAAP earnings per share of 27 cents. That’s what Wall Street was looking for during the quarter. Unfortunately, its revenue of $322.10 million is well below analysts’ estimates of $330.50 million.

GrubHub Earnings: GRUB Stock Plummets 41% on Q3 Miss, Disappointing Guidance
Source: Piotr Swat /

Let’s take a closer look at the GrubHub earnings report for Q3 2019.

  • Non-GAAP EPS is down 40% YoY from 45 cents.
  • Revenue comes in 30.30% above the $247.20 million reported during the same time last year.
  • GrubHub earnings also include income from operations of $3.59 million.
  • This is down 83.57% from $21.85 million in the same period of the year prior.
  • A net income of $1.01 million represents a 95.56% drop from $22.75 million in the third quarter of 2018.

Matt Maloney, founder and CEO of Grubhub, said of the GRUB stock earnings.

“As we detail in our shareholder letter, we are entering the next phase of growth in the U.S. online food ordering industry where it is increasingly important to create a differentiated experience for diners and long-term value for restaurants.”

More bad news from the most recent GrubHub earnings report includes its outlook for the fourth quarter of 2019. The company is expecting revenue to range from $315 million to $335 million. That will easily have it missing Wall Street’s estimate of $387.47 million for the period.

The poor GrubHub earnings report and outlook were bad for another reason. Following the release, several analysts updated their ratings and price targets for GRUB stock. Let’s just say they weren’t upgrades.

GRUB stock was down 41.65% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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