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Why Is Uber (UBER) Up 1.4% Since Last Earnings Report?
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A month has gone by since the last earnings report for Uber Technologies (UBER - Free Report) . Shares have added about 1.4% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Uber due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
UBER Incurs Loss in Q1
Uberreported first-quarter 2024 loss of 32 cents per share, compared with the Zacks Consensus Estimate of 21 cents. In the year-ago reported quarter, UBER incurred a loss of 8 cents.
Total revenues of $10,131 million beat the Zacks Consensus Estimate of $10,076 million. The top line jumped 15% year over year.
In the reported quarter, the majority (55.6%) of the company’s revenues came from Mobility. Revenues from this segment jumped 30% year over year to $5,633 million. Revenues from the Delivery segment increased 4% year over year to $3,214 million. Freight revenues fell to $1,284 million, down 8% from the year-ago period, due to lower revenue per load and volume and the challenging freight market cycle.
Adjusted EBITDA in the first quarter surged 82% to $1,382 million.
Gross bookings from Mobility improved 25% to $18,670 million. Gross bookings from Delivery augmented 18% to $17,699 million. Gross bookings from Freight came in at $1,282 million in the first quarter, down 8% from the year-ago quarter. Total gross bookings ascended 20% to $37,651 million.
Uber exited the first quarter with cash and cash equivalents of $5,019 million compared with $4,680 million at the end of prior quarter. Long-term debt, net of the current portion at the end of the reported quarter, was $9,457 million compared with $9,459 million at prior quarter -end.
Operating cash flow came in at $1,416 million in the reported quarter. The free cash flow was $1,359 million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates.
The consensus estimate has shifted 8.83% due to these changes.
VGM Scores
At this time, Uber has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Uber has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Uber is part of the Zacks Internet - Services industry. Over the past month, Etsy (ETSY - Free Report) , a stock from the same industry, has gained 4.4%. The company reported its results for the quarter ended March 2024 more than a month ago.
Etsy reported revenues of $645.95 million in the last reported quarter, representing a year-over-year change of +0.8%. EPS of $0.48 for the same period compares with $0.53 a year ago.
Etsy is expected to post earnings of $0.47 per share for the current quarter, representing a year-over-year change of -43.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.7%.
Etsy has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
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Why Is Uber (UBER) Up 1.4% Since Last Earnings Report?
A month has gone by since the last earnings report for Uber Technologies (UBER - Free Report) . Shares have added about 1.4% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Uber due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
UBER Incurs Loss in Q1
Uber reported first-quarter 2024 loss of 32 cents per share, compared with the Zacks Consensus Estimate of 21 cents. In the year-ago reported quarter, UBER incurred a loss of 8 cents.
Total revenues of $10,131 million beat the Zacks Consensus Estimate of $10,076 million. The top line jumped 15% year over year.
In the reported quarter, the majority (55.6%) of the company’s revenues came from Mobility. Revenues from this segment jumped 30% year over year to $5,633 million. Revenues from the Delivery segment increased 4% year over year to $3,214 million. Freight revenues fell to $1,284 million, down 8% from the year-ago period, due to lower revenue per load and volume and the challenging freight market cycle.
Adjusted EBITDA in the first quarter surged 82% to $1,382 million.
Gross bookings from Mobility improved 25% to $18,670 million. Gross bookings from Delivery augmented 18% to $17,699 million. Gross bookings from Freight came in at $1,282 million in the first quarter, down 8% from the year-ago quarter. Total gross bookings ascended 20% to $37,651 million.
Uber exited the first quarter with cash and cash equivalents of $5,019 million compared with $4,680 million at the end of prior quarter. Long-term debt, net of the current portion at the end of the reported quarter, was $9,457 million compared with $9,459 million at prior quarter -end.
Operating cash flow came in at $1,416 million in the reported quarter. The free cash flow was $1,359 million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates.
The consensus estimate has shifted 8.83% due to these changes.
VGM Scores
At this time, Uber has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Uber has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Uber is part of the Zacks Internet - Services industry. Over the past month, Etsy (ETSY - Free Report) , a stock from the same industry, has gained 4.4%. The company reported its results for the quarter ended March 2024 more than a month ago.
Etsy reported revenues of $645.95 million in the last reported quarter, representing a year-over-year change of +0.8%. EPS of $0.48 for the same period compares with $0.53 a year ago.
Etsy is expected to post earnings of $0.47 per share for the current quarter, representing a year-over-year change of -43.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.7%.
Etsy has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.