Blue Apron (APRN) Tops Q4 EPS by 5c

Blue Apron (NYSE: APRN) reported Q4 EPS of ($0.12), $0.05 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $140.7 million versus the consensus estimate of $137.43 million.

"As we sharpen our focus on attracting and engaging consumers who represent high value to the business, we are seeing early, encouraging trends in our customer metrics, most notably average revenue per customer, which increased year-over-year,” said Brad Dickerson, Chief Executive Officer, Blue Apron. “We are also pleased with our stronger-than-expected bottom-line results as our business becomes increasingly efficient. Following an assessment of our operational structure in light of this progress, we identified an opportunity to further optimize our processes by transferring a substantial portion of our production volume from our Arlington, Texas facility to our largest and most efficient facility in Linden, New Jersey.”

Dickerson continued, “We are entering 2019 with confidence in our strategic direction. We believe our newest product innovations and new strategic partnerships with WW and Jet have great potential as we enter the year with a deliberate focus on expanding our offerings to strategically and thoughtfully serve a strong base of loyal customers and attract new, high affinity consumers, as well as continuing to prioritize operational optimization and expense management. We believe our commitment to achieving profitability on an adjusted EBITDA basis in the first quarter and for full year 2019 will provide a strong foundation for future growth.”

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

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