Blue Apron (NYSE:APRN) news for Thursday includes the meal kit company’s earnings report for the third quarter of 2020 hammering APRN stock. That’s despite its adjusted losses per share of 96 cents beating out Wall Street’s estimate of $1.25. Its revenue of $112.25 million also beats out analysts’ estimates of $112 million.
Let’s take a deeper dive into the Blue Apron earnings news.
- Adjusted per-share losses are a 51.8% improvement over the $1.99 from the same time last year.
- Revenue for the quarter is sitting 13% higher than the $99.49 million reported in Q3 2019.
- Operating loss of $13.77 million is 42.5% better year-over-year than $23.93 million.
- The Blue Apron earnings report also has its net loss coming in at $15.26 million.
- That’s a 42% narrower net loss than the $26.2 million reported in the same period of the year prior.
Linda Findley Kozlowski, CEO of Blue Apron, said this about the earnings news.
“Our third quarter operating results, including the 13% year over year net revenue improvement, exceeded our guidance reflecting continued momentum. Our growth initiatives, such as continued product innovation to provide more variety, flexibility and choice, and more efficient marketing to drive higher attraction and engagement, are key factors in the consistent improvements we are generating in Orders per Customer and Average Order Value.”
Blue Apron also includes guidance for Q4 2020 in its earnings news. Unfortunately for APRN stock, the company is only expecting revenue between $108 million and $112 million. That doesn’t look good next to Wall Street’s revenue estimate of $116 million for the period.
APRN stock was down 25.6% as of noon Thursday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.