Luckin Coffee (NASDAQ:LK) earnings for the Chinese coffee company’s third quarter of 2019 have LK stock taking off on Wednesday. This is due to its adjusted per-share losses of -32 cents. That’s better than Wall Street’s estimate of -37 cents. Revenue of $208.90 million is below analysts’ estimates of $211.88 million but isn’t holding LK stock back.
Let’s take a closer look at the most recent Luckin Coffee earnings report.
- Adjusted losses per share are 36% better than the -50 cents from the same time last year.
- Revenue is up 546.15% from the $32.33 million reported during the same period of the year prior.
- Operating loss of -$82.67 million is 19.57% wider YoY than -$69.14 million.
- The Luckin Coffee earnings report also includes a net loss of -$74.41 million.
- This is 7.78% worse than its net loss of -$69.04 million in the third quarter of 2018.
Jenny Zhiya Qian, Chief Executive Officer of Luckin Coffee, has this to say about the LK stock earnings.
“We are very pleased with our results in the third quarter. We exceeded the high-end of our guidance range, achieved a store level profit margin of 12.5% and experienced continuous growth across all key operating metrics. These achievements follow a clear trend: an increase in volumes, efficiency and, as a result, profitability.”
The Luckin Coffee earnings report also includes its outlook for Q4 2019. This has it expecting revenue between $300 million and $310 million. Luckily for LK stock, Wall Street is only looking for revenue of $290.12 million during the quarter.
LK stock was up 12.91% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.