Advertisement
UK markets close in 2 hours 14 minutes

  • FTSE 100

    8,070.76
    +30.38 (+0.38%)
     

  • FTSE 250

    19,652.95
    -66.42 (-0.34%)
     

  • AIM

    754.04
    -0.65 (-0.09%)
     

  • GBP/EUR

    1.1662
    +0.0017 (+0.15%)
     

  • GBP/USD

    1.2459
    -0.0004 (-0.03%)
     

  • Bitcoin GBP

    50,618.31
    -2,463.24 (-4.64%)
     

  • CMC Crypto 200

    1,350.96
    -31.61 (-2.28%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CRUDE OIL

    82.55
    -0.26 (-0.31%)
     

  • GOLD FUTURES

    2,337.00
    -1.40 (-0.06%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    17,900.71
    -187.99 (-1.04%)
     

  • CAC 40

    7,983.86
    -108.00 (-1.33%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

Lyft (LYFT) Shares Up 14% Since Q2 Earnings: Here's Why

Zacks Equity Research
·4-min read

Lyft, Inc. LYFT stock has gained 14% since its second-quarter 2022 earnings release on Aug 4. The uptick can be attributed to better-than-expected earnings performance.

Lyft, Inc. Price, Consensus and EPS Surprise

Lyft, Inc. price-consensus-eps-surprise-chart | Lyft, Inc. Quote

What Does Lyft Q2 Report Unveil?

Quarterly adjusted earnings of 12 cents per share beat the Zacks Consensus Estimate of a loss of 5 cents per share. In the year-ago period, the company had incurred a loss of 6 cents.

Total revenues of $990.7 million lagged the Zacks Consensus Estimate of $998.5 million. However, the top line jumped 30% year over year owing to 15.9% increase in Active Riders, which totaled 19.860 million in the reported quarter.  This San-Francisco-based company’s Revenue per Active Rider increased 11.8% year over year to $49.89.

ADVERTISEMENT

Lyft’s adjusted EBITDA in the second quarter was $79.1 million compared with $23.8 million in the year-ago period. In the first quarter of 2022, adjusted EBITDA margin was $54.8 million. Adjusted EBITDA margin for the second quarter was 8% compared with 3.1% in the year-ago period. In the first quarter of 2022, adjusted EBITDA margin was 6.3%.

Total costs and expenses climbed 35.6% year over year to $1.36 billion in the quarter. Contribution improved 31% year over year to $590.5 million. Contribution margin increased to 59.6% from 57.4% in the year-ago period.  Lyft exited the second quarter with unrestricted cash, cash equivalents and short-term investments of $1.81 billion compared with $2.23 billion at the end of March 2022.

Currently, Lyft carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance of Other Transportation Companies

Delta AirLines’ DAL second-quarter 2022 earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. Escalated operating expenses induced the earnings miss. Multiple flight cancellations in May and June also hurt results. The earnings miss disappointed investors, resulting in the stock shedding value in early trading. In the year-ago quarter, Delta incurred a loss of $1.07 per share when air-travel demand was not as buoyant as in the current scenario.

DAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million and soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows. The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets.

J.B. Hunt Transport Services, Inc. JBHT reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.

JBHT’squarterly earnings of $2.42 per share surpassed the Zacks Consensus Estimate of $1.61 and improved 50.3% year over year.

JBHT’stotal operating revenues of $3,837.53 million also outperformed the Zacks Consensus Estimate of $2,908.37 million. The top line jumped 32% year over year on the back of strength across all segments. JBHT’s total operating revenues, excluding fuel surcharges, rose 21.2% year over year.

CSX Corporation (CSX) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.

CSX’s quarterly earnings of 50 cents per share (excluding 4 cents from non-recurring items) beat the Zacks Consensus Estimate of 47 cents and improved 25% year over year.

CSX’s total revenues of $3,815 million outperformed the Zacks Consensus Estimate of $2,990 million. The top line increased 28% year over year on the back of higher revenues in almost all markets, driven by pricing gains, fuel surcharge, and contribution from the acquisition of Quality Carriers. CSX’s overall revenues per unit increased 27%.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
CSX Corporation (CSX) : Free Stock Analysis Report
 
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
 
J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report
 
Lyft, Inc. (LYFT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research