|Bid||1.10 x 29200|
|Ask||1.18 x 800|
|Day's Range||1.10 - 1.18|
|52 Week Range||1.02 - 4.56|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.65|
Blue Apron Holdings Inc (NYSE: APRN ) shares are reeling after reporting a third-quarter earnings miss Tuesday. The food delivery subscription service has lost nearly 88 percent of its value since its ...
Blue Apron Holdings Inc. was downgraded to hold from buy at Canaccord Genuity following a third-quarter revenue miss and reporting fewer customers. Canaccord cut its price target to $3 from $6. Blue Apron said it had 856,000 customers, down from 646,000 last year. The company is also cutting its workforce by 4% as it shifts strategy to "deepen engagement" with the 30% of Blue Apron customers who are responsible for more than 80% of the company's revenue. "Despite the several positives, given the guidance for continued revenue declines next year, we feel a hold rating is more appropriate for now," wrote Canaccord in a note. Blue Apron shares have plummeted more than 71% for the year to date while the S&P 500 index is up 1.2% for the period.
For the third quarter, Blue Apron Holdings’ (APRN) adjusted EPS came in at -$0.18, which was an improvement compared to the analysts’ estimates of -$0.21 and the Q3 2017 EPS of -$0.47. The company remains focused on cutting costs, and it is also improving the operational efficiency of its Linden fulfillment center. As a part of making the organization leaner, Blue Apron plans to reduce its workforce by 4%.
Online meal kit provider Blue Apron Holdings (APRN) announced its third-quarter earnings on November 13. It reported revenues of $150.6 million, which fell 28.5% on a YoY basis, as its customer base continued to decline. For the third quarter, Blue Apron’s customer base declined 24.5% YoY to 646,000.
On November 14, Blue Apron Holdings (APRN) stock was down 4.1% after the company announced its third-quarter numbers on November 13. Compared with its IPO price of $10.00 on June 29, 2017, APRN stock is down 88.3% to $1.17 as of November 14. In the third quarter, Blue Apron’s customer base fell 24.5% YoY to 646,000, and its orders fell 26.6% to 2.6 million.
Chief financial officer Tim Bensley said, for 2019, Blue Apron will target customers that "exhibit the attributes of our best customers.”
Shares of Blue Apron slid more than 10 percent after the move was revealed in an early-morning conference call that followed disappointing third-quarter results released late on Tuesday, along with a layoff announcement. Moving into 2019, Blue Apron will spend less on acquiring new customers "while targeting customers that exhibit the attributes of our best customers," Chief Financial Officer Tim Bensley said on the conference call. Late on Tuesday, Blue Apron reported a steep third-quarter revenue decline and disclosed plans to lay off about 4 percent of its workforce.
shares were plunging Wednesday, down as much as 9% to $1.11, after the food delivery services company's revenue missed estimates and it said it was laying off 4% of its workforce. Blue Apron reported 646,000 customers in its September-ended quarter, down from 717,000. Blue Apron's loss of 18 cents a share in the quarter was narrower than the expected loss of 22 cents a share.
On November 13, Blue Apron Holdings (APRN) posted its third-quarter results. The company’s revenues of $150.6 million missed the consensus estimate of $157.2 million and fell 28.5% on a YoY (year-over-year) basis. On a year-to-date basis, Blue Apron stock has fallen 69.7%.
Inc. said it would lay off more workers, as the meal-kit company struggles to turn a profit. Blue Apron said it would pay out in its fourth-quarter roughly $1.6 million in severance payments related to the layoffs. Blue Apron’s shares dropped roughly 2% after-hours.
Blue Apron (APRN) delivered earnings and revenue surprises of 18.18% and -4.15%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
Meal kit company Blue Apron announced small layoffs today as part of its Q3 2018 financial results. The layoffs, which affected four percent of Blue Apron's workforce, are part of Blue Apron's path to profitability. "We are taking decisive actions to prioritize our highest-impact opportunities and build a stronger, sustainable business," Blue Apron CEO Brad Dickerson said in a press release.
The entry of Amazon.com Inc (AMZN.O) into grocery service and meal kits business has added to pressure. Total number of individuals who signed up for its service fell nearly 25 percent to 64,6000, while number of orders dropped about 27 percent to 2.65 million, the company said. Blue Apron said it expects to incur employee severance charges and other exit costs of about $1.6 million in the fourth quarter, while generating annual savings of about $16 million in 2019.
Check out the companies making headlines after the bell: Blue Apron APRN shares dropped as much as 5 percent during the extended session Tuesday after the meal-kit service announced it would take strategic actions to improve its profitability , including a 4 percent reduction of its workforce.
As of June 30, Blue Apron had 3,281 full-time employees. A spokeswoman said the cuts affect about 100 workers in corporate headquarters and fulfillment centers. Blue Apron was a pioneer of the at-home meal kit market, but an ill-timed initial public offering, which coincided with Amazon.com Inc.’s purchase of Whole Foods, caused the company’s stock to plummet.
It will spend $1.6 million in the fourth quarter on severance charges and other exit costs. Blue Apron APRN will reduce its workforce by 4 percent as it aims to become profitable in 2019, the meal kit company announced Tuesday. In a release outlining the company's strategic goals for profitability, it said the reduction is aimed at "streamlining personnel to create a more agile and focused organization." It will spend $1.6 million in the fourth quarter on severance charges and other exit costs.
The New York-based company said it had a loss of 18 cents per share. The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss ...
Meal-kit delivery company Blue Apron Holdings Inc said on Tuesday it would reduce its headcount by 4 percent, as it looks to streamline its operations. Blue Apron said it expects to incur employee severance ...
Blue Apron Holdings Inc. shares declined in the extended session Tuesday after the subscription meal service posted revenue that fell below Wall Street estimates and said it was laying off staff. Blue Apron shares fell 5% after hours, following a 2.4% decline to close the regular session at $1.22. The company reported a third-quarter loss of $33.9 million, or 18 cents a share, compared with $87.2 million, or 47 cents a share, in the year-ago period. Revenue declined to $150.6 million from $210.6 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 22 cents a share on revenue of $157.9.million. Blue Apron said it was laying off 4% of its workforce to speed up its path to profitability in 2019, and said its Chief Marketing Office Jared Cluff no longer worked at the company.