Blue Apron (APRN) Misses Q4 EPS by 26c

Blue Apron (NYSE: APRN) reported Q4 EPS of ($0.93), $0.26 worse than the analyst estimate of ($0.67). Revenue for the quarter came in at $107 million versus the consensus estimate of $110 million.

Full Year 2022 Outlook:
The outlook for certain financial metrics below and elsewhere in this press release, reflect assumptions regarding the company’s business, including the anticipated consistent benefit to the company’s business from the execution and acceleration of the company’s strategic growth initiatives, and including the impact of the planned use of proceeds from the recent equity capital raise to increase investments in marketing and technology initiatives and infrastructure, as well as continued operational improvements. The following guidance also assumes that the company will not experience any unforeseen significant disruptions in its fulfillment operations or supply chain.

The company expects:

Marketing expenditures to continue to ramp up through 2022 to support higher levels of expected top line revenue growth for the full year. Promotional spending for customer acquisition is expected to accelerate, and be at higher levels than in the past three years. Total marketing spend for full year 2022 is expected to be around double what was spent in the full year 2019.
Top line revenue growth to be in at least the mid-teens percentage range compared with full year 2021, and more than 20 percentage points higher than the pre-pandemic full year 2019. Based on the current investments in marketing, the company expects to return to positive year-over-year revenue growth starting in the second quarter of 2022 and for the rest of 2022.

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

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