We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lyft (LYFT) Q1 Earnings & Revenues Top Estimates, Rise Y/Y
Read MoreHide Full Article
Lyft, Inc. (LYFT - Free Report) reported first-quarter 2023 earnings of 8 cents per share against the Zacks Consensus Estimate of a loss of 9 cents. In the year-ago period, Lyft reported earnings of 7 cents per share.
Total revenues of $1,000.5 million beat the Zacks Consensus Estimate of $976.9 million and jumped 9.8% year over year. The uptick was due to an increase in active riders, which totaled 19.55 million in the reported quarter.
Lyft's revenue per active rider increased 4% year over year in the first quarter to $51.17.
Lyft’s adjusted EBITDA in the first quarter was $22.7 million compared with the year-ago figure of $54.8 million. Adjusted EBITDA margin for the first quarter was 2.3% compared with 6.3% in the year-ago period.
Total costs and expenses climbed 13.2% year over year to $1.22 billion in first-quarter 2023. Contributions fell 7.4% year over year to $465.1 million. The contribution margin decreased to 46.5% from 57.4% in the year-ago period.
Lyft exited the first quarter with unrestricted cash, cash equivalents and short-term investments of $1.8 billion, flat sequentially.
Q2 Outlook
For the second quarter of 2023, management expects revenues between $1 billion and $1.02 billion. Adjusted EBITDA is expected between $20 million and $30 million, with an adjusted EBITDA margin of 2% to 3%.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2023 earnings of $1.89 per share missed the Zacks Consensus Estimate of $2.04 and declined 17.5% year over year.
JBHT’s total operating revenues of $3,229.58 million also lagged the Zacks Consensus Estimate of $3,434.4 million and fell 7.4% year over year. The downfall was due to declines in the volume of 25% in Integrated Capacity Solutions (ICS), 5% in Intermodal (JBI) and 17% in Final Mile Services (FMS), and a 17% decline in revenue per load in Truckload (JBT). Revenue declines in ICS, JBI, FMS and JBT were partially offset by Dedicated Contract Services revenue growth of 13%.
JBHT’s total operating revenues, excluding fuel surcharges, decreased 10.2% year over year.
Delta Air Lines’ (DAL - Free Report) first-quarter 2023 earnings (excluding 82 cents from non-recurring items) of 25 cents per share missed the Zacks Consensus Estimate of 29 cents. Volatile fuel prices and unfavorable weather conditions led to this downtick. DAL reported a loss of $1.23 per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then.
DAL reported revenues of $12,759 million, which missed the Zacks Consensus Estimate of $12,767.4 million. Driven by higher air-travel demand, total revenues increased 36.49% on a year-over-year basis.
Alaska Air Group, Inc. (ALK) reported first-quarter 2023loss of 62 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents. In the year-ago quarter, ALK incurred a loss of $1.33 per share.
ALK’s operating revenues of $ 2,196 million missed the Zacks Consensus Estimate of $2,202.5 million. The top line jumped 31% year over year, with passenger revenues accounting for 90.3% of the top line and increasing 31% owing to continued recovery in air-travel demand.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Lyft (LYFT) Q1 Earnings & Revenues Top Estimates, Rise Y/Y
Lyft, Inc. (LYFT - Free Report) reported first-quarter 2023 earnings of 8 cents per share against the Zacks Consensus Estimate of a loss of 9 cents. In the year-ago period, Lyft reported earnings of 7 cents per share.
Total revenues of $1,000.5 million beat the Zacks Consensus Estimate of $976.9 million and jumped 9.8% year over year. The uptick was due to an increase in active riders, which totaled 19.55 million in the reported quarter.
Lyft's revenue per active rider increased 4% year over year in the first quarter to $51.17.
Lyft’s adjusted EBITDA in the first quarter was $22.7 million compared with the year-ago figure of $54.8 million. Adjusted EBITDA margin for the first quarter was 2.3% compared with 6.3% in the year-ago period.
Lyft, Inc. Price, Consensus and EPS Surprise
Lyft, Inc. price-consensus-eps-surprise-chart | Lyft, Inc. Quote
Total costs and expenses climbed 13.2% year over year to $1.22 billion in first-quarter 2023. Contributions fell 7.4% year over year to $465.1 million. The contribution margin decreased to 46.5% from 57.4% in the year-ago period.
Lyft exited the first quarter with unrestricted cash, cash equivalents and short-term investments of $1.8 billion, flat sequentially.
Q2 Outlook
For the second quarter of 2023, management expects revenues between $1 billion and $1.02 billion. Adjusted EBITDA is expected between $20 million and $30 million, with an adjusted EBITDA margin of 2% to 3%.
Currently, Lyft carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2023 earnings of $1.89 per share missed the Zacks Consensus Estimate of $2.04 and declined 17.5% year over year.
JBHT’s total operating revenues of $3,229.58 million also lagged the Zacks Consensus Estimate of $3,434.4 million and fell 7.4% year over year. The downfall was due to declines in the volume of 25% in Integrated Capacity Solutions (ICS), 5% in Intermodal (JBI) and 17% in Final Mile Services (FMS), and a 17% decline in revenue per load in Truckload (JBT). Revenue declines in ICS, JBI, FMS and JBT were partially offset by Dedicated Contract Services revenue growth of 13%.
JBHT’s total operating revenues, excluding fuel surcharges, decreased 10.2% year over year.
Delta Air Lines’ (DAL - Free Report) first-quarter 2023 earnings (excluding 82 cents from non-recurring items) of 25 cents per share missed the Zacks Consensus Estimate of 29 cents. Volatile fuel prices and unfavorable weather conditions led to this downtick. DAL reported a loss of $1.23 per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then.
DAL reported revenues of $12,759 million, which missed the Zacks Consensus Estimate of $12,767.4 million. Driven by higher air-travel demand, total revenues increased 36.49% on a year-over-year basis.
Alaska Air Group, Inc. (ALK) reported first-quarter 2023loss of 62 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents. In the year-ago quarter, ALK incurred a loss of $1.33 per share.
ALK’s operating revenues of $ 2,196 million missed the Zacks Consensus Estimate of $2,202.5 million. The top line jumped 31% year over year, with passenger revenues accounting for 90.3% of the top line and increasing 31% owing to continued recovery in air-travel demand.