Blue Apron (APRN) Misses Q1 EPS by 1c, Sees Q2 Revenue Growth

Blue Apron (NYSE: APRN) reported Q1 EPS of ($1.51), $0.01 worse than the analyst estimate of ($1.50). Revenue for the quarter came in at $101.9 million versus the consensus estimate of $107.5 million.

GUIDANCE:

Blue Apron sees Q2 2020 revenue of $130 million, versus the consensus of $118.3 million.

• Based on second quarter trends to date, Blue Apron today provided an outlook for certain second quarter 2020 financial metrics, which are based on certain assumptions regarding the company’s business, trends, seasonal factors and, in particular, the impact of COVID-19 and the response of various government authorities. The below guidance is based on certain assumptions regarding the continued impact of COVID-19 on the company’s business, including as a result of changes in consumer behavior and grocery alternatives, and the magnitude and timing of the impact on the company’s business when the effects of COVID-19 and related restrictions begin to ease. Further, 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.
• For the second quarter, the company expects net revenue will grow year over year in the high single digits on a percentage basis to approximately $130.0 million. Notwithstanding substantial investments in its front-line fulfillment center team as volume ramps up, the company expects to deliver a net loss of no more than $6.0 million, positive adjusted EBITDA of at least $5.0 million and positive operating cash flow of at least $10.0 million.

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

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