Yahoo Finance's Jared Blikre examines several stocks trending in the after-hours trading session.
Video Transcript
- Let's take a look at right now what's trending in after hours with Jared Blikre. Jared.
JARED BLIKRE: Well, I'm taking a look at Carvana. I was trying to find it on our earnings heat map here. It's a very small square now. So I'm going to sort by performance.
I'm not trying to make a joke. This is a stock that is still down 90%, 95% from its highs. There you go, down 96% over the last two years.
Let me give you some of the numbers here. And this is a disaster of an earnings report. The stock is only down 2% in after-hours trading. I think that tells you the expectations coming in.
Used vehicle sales for the fourth quarter, 86,977. The estimate was for about 7%, 8% higher, 94,394. And their numbers already a 23% drop from the year before.
Wholesale vehicle unit sales, 39,918. Estimate was for 42,904. So short by about 6%, 7% there. Loss per share is $7.61 versus estimates of $2.19. So they are multiple of that.
Used vehicle gross profits per unit $425. That is a 72% drop from a year ago. The estimate was $1,000.38. So basically, just coming in at a fraction of that.
Finally, here's another key metric. Wholesale vehicle gross profit per unit, $230. That's down 58% year over year. Estimate was for higher at $356.65. So don't know what else I can add to that, guys, but if you got some commentary, I'd love to hear it.
- Yeah, I mean, a few things. And you're looking at an absolute stall out for the business in Carvana, especially over the past year here. Looking at that gross profit per unit on an annualized view there, you're actually seeing that lower from $4,537 on an annualized basis down in this most recent year to $3,022 here.
So that a massive [INAUDIBLE] that we'd seen here-- [INAUDIBLE] on the retail units sold in aggregate last year. In 2021, that figure was at about $425,000, just a little bit over that in 2022, $412,000 there. So a significant decline there as well.
- Also, one interesting note is that Carvana usually it sees higher sales during tax season. And they are expecting now a more muted increase this year. Basically, they're spending less on advertising. They have been trying to, I mean, keep costs lower, but it's interesting that they're going to be expecting more muted--
JARED BLIKRE: Yeah, if I hear that, right, seasonality usually favors them during tax season. And this year they're going to do even worse, got it. All right, time to go to Beyond Meat.
Sorry, guys, I got to read what I see here. Beyond Meat that is up about 13%, 12%, 13% right here. This is another stock that has just been decimated over the last two years, down 88%, barely off the lows, but let me show you a year-to-date chart here, you can see up 39%.
So when you crop out the last two years, very impressive there. Year forecast, I think that's what the Street is focusing on here with these gains in after-hours trading. They're seeing net revenue of 375,000 to 415 million. The estimate was for 394.2 million, so kind of right in that sweet spot in the middle of there.
Fourth quarter results, adjusted EBITDA loss of 56 and 1/2 million. There was an expectation of a bigger loss of 59.2 million. So a little bit of a beat there.
And then if you break this down, total pounds of their Beyond Meat sold, 16.13 million. The estimate was for higher, 17.5 million. So coming a bit short in the reporting quarter. US net revenue, 55.9 million. That was a beat by $1,000,000.
International net revenue, 24.1 million, down 20%, but it is a significant beat over the estimate of 20.6 million. And then just looking at the net revenue or net sales overall, 79.9 million. That is a drop of 21%. And that is a beat of the estimate of 75-- 75.7 million.
Also, they ended the quarter with cash and cash equivalents 309.9 million. It's down 58% year over year, but pretty much in line with the estimates slightly higher of 310.8 million. Guys.
- Those pounds sold by channel really declining across every single segment here. We also got to talk about Booking Holdings as well, Jared, while we got you.
JARED BLIKRE: All right, let's get that here. I believe that is a small loss, down about 1.3%. Now here's a stock that's up to 20% year to date over the last three years. This will give us an idea of what happened during the pandemic, really been maintaining a lot of its ground here.
So pretty impressive to see this stock performance throughout the pandemic there. So for the fourth quarter we're looking at revenue of $4.5 billion. The revenue estimate was for $3.9 billion. So that is a beat. Also, up 36% year over year.
Marketing expenses came in line, 1.31 billion. They are up 35% year over year. And then adjusted EBITDA coming in at 1.24 billion. The estimate was for lower at $1.18 billion. So a beat.
When you break that down into EPS, it was $24.74 versus the estimate of $21.51. Room nights sold, that's $211 million. That's one of those key figures there. And that is a little bit short of the estimate of 213.4 million.
Rental day cars sold 14 million. Street was looking for 13 and 1/2 half million. Small beat there. And then finally airline ticket sold 6 million. The estimate was for a little bit lower, 5.7 million.
- Thanks, Jared.
