U.S. markets closed
  • S&P 500

    3,811.15
    -18.19 (-0.48%)
     
  • Dow 30

    30,932.37
    -469.64 (-1.50%)
     
  • Nasdaq

    13,192.35
    +72.92 (+0.56%)
     
  • Russell 2000

    2,201.05
    +0.88 (+0.04%)
     
  • Crude Oil

    61.66
    -1.87 (-2.94%)
     
  • Gold

    1,733.00
    -42.40 (-2.39%)
     
  • Silver

    26.70
    -0.98 (-3.56%)
     
  • EUR/USD

    1.2088
    -0.0099 (-0.81%)
     
  • 10-Yr Bond

    1.4600
    -0.0580 (-3.82%)
     
  • GBP/USD

    1.3922
    -0.0091 (-0.65%)
     
  • USD/JPY

    106.5500
    +0.3200 (+0.30%)
     
  • BTC-USD

    47,422.97
    -102.36 (-0.22%)
     
  • CMC Crypto 200

    912.88
    -20.25 (-2.17%)
     
  • FTSE 100

    6,483.43
    -168.53 (-2.53%)
     
  • Nikkei 225

    28,966.01
    -1,202.26 (-3.99%)
     
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Peloton President: 'We see light at the end of the tunnel' on bike delays

Brian Sozzi
·Editor-at-Large
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Peloton (PTON) President William Lynch tells Yahoo Finance Live he sees stubborn bike delays easing up a bit in coming months.

“We have said we believe our order-to-delivery is going to come down. This investment certainly will help. We see light at the end of the tunnel for sure, with these manufacturing ramps. We've added two new factories in Taiwan over the last four months alone. And so we feel like we're in a good place with manufacturing and sourcing,” Lynch said, who is also a Peloton board member.

Lynch added, “We expect continued accelerated growth, which is exciting for us and exciting for the community as it builds. So we do see a light at the end of the tunnel, yeah. And we do expect it to get better in the spring.”

To help overcome port congestion and limited capacity, Peloton said it will spend $100 million in its current fiscal year to address the issues.

Peloton shares fell about 5% in early trading Friday despite a strong quarter, paced by a 128% improvement in sales compared to last year.

Here is how Peloton performed compared to Wall Street estimates.

  • Net Sales: $1.06 billion versus $1.03 billion estimate

  • Connected Fitness Subscribers: 1.67 million versus estimate for 1.64 million

  • Adjusted EBITDA: $116.9 million versus estimate for $78.7 million

  • Diluted EPS: $0.18 versus $0.10 estimate

  • Full Year Outlook:

    • Net Sales: $4.075 billion or more (prior outlook: $3.9 billion)

    • Gross Margin: about 39% (prior outlook: 41%)

    • Adjusted EBITDA: $300 million or more (reiterated)

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Find the latest in business and finance news here.

What’s hot from Sozzi:

Watch Yahoo Finance’s live programming on Verizon FIOS channel 604, Apple TV, Amazon Fire TV, Roku, Samsung TV, Pluto TV, and YouTube. Online catch Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, and reddit.