After the close tonight, ride-sharing company Lyft (LYFT) is scheduled to issue its 3Q19 results.


On October 22, the company's co-founders stated that they expect the company to be profitable on an Adj. EBITDA basis by 4Q21, which is faster than investors anticipated. The primary factor driving the enhanced profitability outlook is that pricing is improving.

In its Q2 earnings press release, LYFT issued upside guidance for Q3, seeing revenue of $900-$915 mln (vs. prior consensus of $841 mln) and Adj EBITDA of ($210)-($190) mln. The current S&P Capital IQ consensus for Q3 stands at EPS and revenue of ($0.73) and $915.2 mln, respectively.

TECHS:


Last quarter, LYFT raised its FY19 revenue outlook by $195-$200 mln to $3.47-$3.5 bln.

It also improved its loss guidance by $300 mln, forecasting Adj. EBITDA of ($875)-($850) mln.

RESULTS:

Lyft beats by $0.32, beats on revs; guides Q4 revs above consensus, raises Adj. EBITDA guidance

  • Reports Q3 (Sep) loss of $0.41 per share, $0.32 better than the S&P Capital IQ Consensus of ($0.73); revenues rose 63.4% year/year to $955.6 mln vs the $915.15 mln S&P Capital IQ Consensus.

  • Active Riders increased 28% yr/yr to 17.4 mln and Revenue per Active Rider increased 27% yr/yr to $33.63.

  • Adjusted net loss was ($121.6) mln versus an adjusted net loss of ($245.3) mln in 3Q18.

  • Co issues upside guidance for Q4, sees Q4 revs of $975-$985 mln vs. $942.93 mln S&P Capital IQ Consensus. Raises Adj. EBITDA guidance to be between ($160) and ($170) mln from prior implied guidance between ($240) and ($245) mln.

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