Maplebear Inc Reports Results For The Quarter - Earnings Summary

Maplebear (CART) reported $852 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 11.5%. EPS of $0.42 for the same period compares to -$20.86 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $845.13 million, representing a surprise of +0.81%. The company delivered an EPS surprise of +90.91%, with the consensus EPS estimate being $0.22.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Maplebear performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Orders: 72.9 million versus the five-analyst average estimate of 71.04 million.
• Gross Transaction Value (GTV): $8.30 billion versus $8.22 billion estimated by five analysts on average.
• Revenue- Advertising and other: $246 million versus $244.15 million estimated by six analysts on average.
• Revenue- Transaction: $606 million compared to the $601.47 million average estimate based on six analysts.

View all Key Company Metrics for Maplebear here>>>

Shares of Maplebear have returned +11.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Tuesday, November 12, 2024

The S&P 500 couldn’t keep its winning streak intact today, dipping just -17 points or -0.29% on the day. The Nasdaq slipped an identical -17 points, which was down -0.09% for the session. The Dow performed worse (likely selling off some froth), -382 points or -0.86%. The small-cap Russell 2000 fell hardest: -1.77% at the close.

Bond yields were mildly warmer on the day, but are still climbing even after the equities markets take a breather. The 10-year yield is currently around +4.43% (or about 90 basis points higher than mid-September lows), with the 2-year right now perched at +4.34% (also close to the mid-point of 52-week highs and lows).

Don’t consider this anything more than the post-election euphoria beginning to dissipate. Wall Street may still be very happy for a Republican majority in the federal government (with a sub-60% majorities in both houses), but there’s only so far investors are willing to take things at this hour.

Q3 Earnings Roundup: Dig the New Breed (CAVA, CART, SPOT and More)

Zacks Rank #2 (Buy)-rated fast-casual restaurant and growth stock CAVA Group CAVA is up +15% on its Q3 report after Tuesday’s close. Earnings of 15 cents per share outpaced the Zacks consensus by 4 cents, while $244 million in revenues improved over the $238 million expected. Same-store sales surged +18% in the quarter, ahead of the +12.2% expected, with guidance notably improved. The stock is +230% year to date!

Check out the updated Zacks Earnings Calendar here.

Spotify SPOT shares are up +10% at this hour in late trading as well, with Q3 missing on both top and bottom lines: earnings of $1.45 per share was beneath the Zacks consensus by 30 cents, and $3.99 billion in sales was under the $4.37 billion forecast. But monthly users, premium subscriptions and gross margins are all pointing up. Shares of SPOT are +120% year to date.

San Francisco-based Instacart parent Maplebear CART, a grocery delivery service with a Zacks Rank #2, easily surpassed expectations on both top and bottom lines: earnings of 42 cents per share on $852 million in revenues surged past the 22 cents on $845 million expected. Guidance was just in-line, however, which has sent shares -2% lower in the aftermarket. This stock is +101% year to date.

Skyworks Systems SWKS also posted its Q3 earnings report after the close today, beating by 3 cents on the bottom line to $1.55 per share while coming in-line on the top line at $1.02 billion in quarterly revenues. Sales guidance for the current quarter are also in-line with previous estimates. Late-trading has the shares pretty flat after an initial jump.

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Maplebear (CART) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to loss of $20.86 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 90.91%. A quarter ago, it was expected that this operator of the Instacart online grocery would post earnings of $0.13 per share when it actually produced earnings of $0.20, delivering a surprise of 53.85%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Maplebear, which belongs to the Zacks Internet - Commerce industry, posted revenues of $852 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.81%. This compares to year-ago revenues of $764 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Maplebear shares have added about 103.4% since the beginning of the year versus the S&P 500's gain of 25.8%.

What's Next for Maplebear?

While Maplebear has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Maplebear: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.33 on $893.8 million in revenues for the coming quarter and $1.17 on $3.38 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Commerce is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Retail-Wholesale sector, American Eagle Outfitters (AEO), has yet to report results for the quarter ended October 2024.

This teen clothing retailer is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of -4.1%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level.

American Eagle Outfitters' revenues are expected to be $1.31 billion, up 0.5% from the year-ago quarter.

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