Blue Apron (APRN) Tops Q3 EPS by 48c, Q4 Revenue Guidance Comes in Light

Blue Apron (NYSE: APRN) reported Q3 EPS of ($0.96), $0.48 better than the analyst estimate of ($1.44). Revenue for the quarter came in at $112.3 million versus the consensus estimate of $112 million.

GUIDANCE:

Blue Apron sees Q4 2020 revenue of $108-112 million, versus the consensus of $116 million.

• Blue Apron today provided an outlook for certain fourth quarter 2020 financial metrics, reflecting certain assumptions regarding the company’s business (including the impact of its operational improvements and the company’s ability in the fourth quarter to recognize the recovery of up to $2 million of customer credits issued for the onion recall), trends, historical seasonal factors, and the continuing impact of COVID-19 on its business, including as a result of changes in consumer behavior. The following guidance assumes that the company will not experience any significant disruptions in its fulfillment operations or supply chain as a result of the COVID-19 pandemic or otherwise.
• For the fourth quarter, the company expects net revenue will grow approximately 15% to 19% year over year to approximately $108 to $112 million. Assuming similar historical seasonal demand and cost trends, the company expects to incur a net loss of no more than $15.0 million and an adjusted EBITDA loss of no more than $5.0 million.
• For the first quarter 2021, the company expects operational improvements to continue to help address labor challenges. The company intends to increase its first quarter 2021 marketing expenditures and anticipates double digit year over year net revenue growth on a percentage basis and a year-over-year increase in Customers for that period.

For earnings history and earnings-related data on Blue Apron (APRN) click here.

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