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Lyft (LYFT) to Report Q1 Earnings: What's in the Cards?
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Lyft (LYFT - Free Report) , which went public on Mar 29, 2019, is scheduled to report first-quarter 2020 results on May 6, after the market closes.
The Zacks Consensus Estimate for first-quarter loss has widened by 11.7% in the past 60 days. However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing once.
Let’s see whether the company is able to repeat its success story in the first quarter results as well.
Factors to Note
With majority of the U.S. states enforcing stay-at-home orders for their people to curb the spread of coronavirus, the company’s ride volumes are anticipated to have been significantly affected in the first quarter. This is likely to get reflected in the number of Active Riders (riders who take at least one ride during a quarter on Lyft’s multimodal platform through its app). Evidently, the Zacks Consensus Estimate for Active Riders indicates a decline of 4.5% from fourth-quarter 2019.
Akin to the past few quarters, the company’s first-quarter results are likely to reflect increased expenses, primarily on research and development.
Earnings Whispers
The proven Zacks model predicts an earnings beat for Lyft this time around. This is because the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Lyft has an Earnings ESP of +22.39% as the Most Accurate Estimate is pegged at a loss of 52 cents, narrower than the Zacks Consensus Estimate of a loss of 67 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Lyft carries a Zacks Rank #3.
Highlights of Q4 Earnings
In the last reported quarter, the company delivered a positive earnings surprise of 28.1% with narrower-than-expected loss. Revenues also surpassed the Zacks Consensus Estimate and improved 51.9% year over year. Results benefited from a 23% increase in Active Riders.
Other Stocks to Consider
Investors interested in the broader Computer and Technology sector may consider AMETEK, Inc. (AME - Free Report) , Arista Networks, Inc. (ANET - Free Report) and ANSYS, Inc. (ANSS - Free Report) as these stocks possess the right combination of elements to beat on earnings this reportingOK cycle.
AMETEK has an Earnings ESP of +1.98% and a Zacks Rank #3. The company will report first-quarter earnings numbers on May 5.
Arista Networks has an Earnings ESP of +0.18% and a Zacks Rank of 3. This company will report first-quarter financial numbers on May 5.
ANSYS has an Earnings ESP of +2.14% and a Zacks Rank #3. This company will release first-quarter results on May 6.
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Lyft (LYFT) to Report Q1 Earnings: What's in the Cards?
Lyft (LYFT - Free Report) , which went public on Mar 29, 2019, is scheduled to report first-quarter 2020 results on May 6, after the market closes.
The Zacks Consensus Estimate for first-quarter loss has widened by 11.7% in the past 60 days. However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing once.
Let’s see whether the company is able to repeat its success story in the first quarter results as well.
Factors to Note
With majority of the U.S. states enforcing stay-at-home orders for their people to curb the spread of coronavirus, the company’s ride volumes are anticipated to have been significantly affected in the first quarter. This is likely to get reflected in the number of Active Riders (riders who take at least one ride during a quarter on Lyft’s multimodal platform through its app). Evidently, the Zacks Consensus Estimate for Active Riders indicates a decline of 4.5% from fourth-quarter 2019.
Akin to the past few quarters, the company’s first-quarter results are likely to reflect increased expenses, primarily on research and development.
Earnings Whispers
The proven Zacks model predicts an earnings beat for Lyft this time around. This is because the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Lyft has an Earnings ESP of +22.39% as the Most Accurate Estimate is pegged at a loss of 52 cents, narrower than the Zacks Consensus Estimate of a loss of 67 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Lyft carries a Zacks Rank #3.
Highlights of Q4 Earnings
In the last reported quarter, the company delivered a positive earnings surprise of 28.1% with narrower-than-expected loss. Revenues also surpassed the Zacks Consensus Estimate and improved 51.9% year over year. Results benefited from a 23% increase in Active Riders.
Other Stocks to Consider
Investors interested in the broader Computer and Technology sector may consider AMETEK, Inc. (AME - Free Report) , Arista Networks, Inc. (ANET - Free Report) and ANSYS, Inc. (ANSS - Free Report) as these stocks possess the right combination of elements to beat on earnings this reportingOK cycle.
AMETEK has an Earnings ESP of +1.98% and a Zacks Rank #3. The company will report first-quarter earnings numbers on May 5.
Arista Networks has an Earnings ESP of +0.18% and a Zacks Rank of 3. This company will report first-quarter financial numbers on May 5.
ANSYS has an Earnings ESP of +2.14% and a Zacks Rank #3. This company will release first-quarter results on May 6.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>