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The Zacks Consensus Estimate for LYFT’s third-quarter 2022 earnings has been revised upward by 33.3% in the past 90 days to 8 cents per share. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 201.67%.
Let’s see how things are shaping up for Lyft this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Lyft’s third-quarter 2022 revenues is pegged at $1.05 billion, indicating 21.96% growth year over year. The top line is likely to have benefited from an increase in Active Riders. The Zacks Consensus Estimate for the number of Active Riders in the third quarter is pegged at 20.94 million, indicating a 10.5% increase from the year-ago reported figure. The Zacks Consensus Estimate for Revenue per Active Rider is pegged at $50, indicating a 9.6% increase from the year-ago reported figure.
However, higher costs to boost driver supply might have posed a threat to Lyft’s bottom line. Meanwhile, higher oil prices are likely to have increased costs.
What Our Model Says
Our proven model predicts an earnings beat for Lyft this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as you can see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Lyft has an Earnings ESP of +21.95% and a Zacks Rank #3.
Highlights of Q2
Lyft’s second-quarter 2022 adjusted earnings of 12 cents per share compared favorably to 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 a 15.9% increase in Active Riders, which totaled 19.860 million in the reported quarter. The company’s Revenue per Active Rider increased 11.8% year over year to $49.89.
Other Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
Air Transport Services (ATSG - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3. ATSG will release results on Nov 3.
The ATSG stock has witnessed an upward revision of 3.8% over the past 90 days. Increased demand for midsize freighters is supporting growth at ATSG.
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Lyft (LYFT) to Report Q3 Earnings: Is a Beat in the Cards?
Lyft, Inc.(LYFT - Free Report) is scheduled to report third-quarter 2022 results on Nov 7, after market close.
The Zacks Consensus Estimate for LYFT’s third-quarter 2022 earnings has been revised upward by 33.3% in the past 90 days to 8 cents per share. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 201.67%.
Lyft, Inc. Price and EPS Surprise
Lyft, Inc. price-eps-surprise | Lyft, Inc. Quote
Let’s see how things are shaping up for Lyft this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Lyft’s third-quarter 2022 revenues is pegged at $1.05 billion, indicating 21.96% growth year over year. The top line is likely to have benefited from an increase in Active Riders. The Zacks Consensus Estimate for the number of Active Riders in the third quarter is pegged at 20.94 million, indicating a 10.5% increase from the year-ago reported figure. The Zacks Consensus Estimate for Revenue per Active Rider is pegged at $50, indicating a 9.6% increase from the year-ago reported figure.
However, higher costs to boost driver supply might have posed a threat to Lyft’s bottom line. Meanwhile, higher oil prices are likely to have increased costs.
What Our Model Says
Our proven model predicts an earnings beat for Lyft this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as you can see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Lyft has an Earnings ESP of +21.95% and a Zacks Rank #3.
Highlights of Q2
Lyft’s second-quarter 2022 adjusted earnings of 12 cents per share compared favorably to 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 a 15.9% increase in Active Riders, which totaled 19.860 million in the reported quarter. The company’s Revenue per Active Rider increased 11.8% year over year to $49.89.
Other Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Copa Holdings (CPA - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank #2. CPA will release results on Nov 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
Air Transport Services (ATSG - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3. ATSG will release results on Nov 3.
The ATSG stock has witnessed an upward revision of 3.8% over the past 90 days. Increased demand for midsize freighters is supporting growth at ATSG.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.