Lyft Sees Q2 Gross Bookings Of ~$4B-$4.1B; Adjusted EBITDA Of $95M-$100M And An Adjusted EBITDA Margin Of ~2.4%; Remains On Track To Generate Positive Free Cash Flow For The Full Year
Portfolio Pulse from Benzinga Newsdesk
Lyft projects Q2 gross bookings to be around $4B-$4.1B with an Adjusted EBITDA of $95M-$100M, equating to a margin of ~2.4%. The company anticipates positive free cash flow for FY'24, with rides growth in the mid-teens and bookings growth slightly outpacing rides growth. Lyft now expects at least 70% of its Adjusted EBITDA to convert to free cash flow for the full year.
May 07, 2024 | 8:21 pm
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Lyft expects Q2 gross bookings of $4B-$4.1B, Adjusted EBITDA of $95M-$100M, and a margin of ~2.4%. FY'24 outlook includes positive free cash flow, with rides and bookings growth in the mid-teens.
Lyft's positive outlook for Q2 and the full year 2024, including expected growth in rides and bookings and a significant conversion of Adjusted EBITDA to free cash flow, is likely to be viewed positively by investors. This suggests a strong operational performance and financial health, potentially leading to an increase in investor confidence and a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100