Acquisition Target Blue Apron Surpasses Sales Expectations In Q3 Despite Customer Downturn
Portfolio Pulse from Anusuya Lahiri
Blue Apron Holdings, Inc (NASDAQ:APRN) reported a Q3 FY23 sales decline of 9.9% YoY to $98.8 million, surpassing the consensus of $97.6 million. The company's EPS loss improved to $(1.34), beating the consensus loss of $(1.99). Despite a 20.2% YoY decrease in orders, the average order value and revenue per customer increased. The company also improved its adjusted EBITDA loss. Blue Apron agreed to be acquired by Wonder Group in September. The stock has gained 131.4% in the last six months and 42.3% YTD.
November 09, 2023 | 5:17 pm
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Blue Apron's Q3 FY23 results beat expectations, with improvements in EPS loss and increases in average order value and revenue per customer. The company's stock has seen significant gains in recent months.
Despite a decline in sales, Blue Apron beat expectations for Q3 FY23. The company's EPS loss improved, and it saw increases in average order value and revenue per customer. These positive results, along with the company's upcoming acquisition by Wonder Group, have likely contributed to the significant gains in the company's stock price.
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