Lyft Inc. (LYFT – Free Report) reported fourth-quarter 2024 earnings of 30 cents per share, which beat the Zacks Consensus Estimate of 23 cents and improved year over year.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Revenues of $1.55 billion marginally missed the Zacks Consensus Estimate by 0.1%. The top line, however, improved 26.6% year over year, reflecting growth in the rideshare market. Active riders increased 10% year over year to 24.7 million.
Gross bookings for the reported quarter were $4.27 billion, marking a year-over-year increase of 15%.
Lyft, Inc. Price, Consensus and EPS Surprise
Lyft, Inc. price-consensus-eps-surprise-chart | Lyft, Inc. Quote
Lyft’s chief financial officer, Erin Brewer, stated, “We achieved record Gross Bookings, significant margin expansion, our first full year of GAAP profitability, and record cash flow generation. We surpassed every target we provided at investor day and the best part is that 2024 was only the beginning of our multi-year plan.”
Lyft’s adjusted EBITDA in the fourth quarter was $112.8 million, up 69.7% from the year-ago reported figure. The adjusted EBITDA margin (calculated as the percentage of gross bookings) was 2.6% compared with 1.8% in the prior-year quarter.
Lyft exited the fourth quarter with cash and cash equivalents of $759.32 million compared with $770.29 million at the end of the prior quarter. Long-term debt, net of the current portion at the end of the reported quarter, was $565.96 million compared with $574.47 million at the prior-quarter end.
Lyft’s board of directors has authorized the repurchase of up to $500 million of the company’s Class A common stock.
LYFT’s Q1 2025 Guidance
For first-quarter 2025, Lyft anticipates rides year-over-year growth in the mid-teens on the back of industry-leading service levels and strong rider and driver growth and engagement.
Gross bookings are anticipated to be in the range of $4.05-$4.20 billion, implying growth of almost 10-14% year over year, amid the recent pricing environment in the U.S. market.
Adjusted EBITDA is expected to be between $90 million and $95 million, and adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is expected to be in the range of 2.2%-2.3%.
LYFT’s Zacks Rank
Lyft currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q4 Performances of Other Computer and Technology Companies
Uber Technologies(UBER – Free Report) reported solid fourth-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Quarterly earnings per share (EPS) of $3.21 outpaced the Zacks Consensus Estimate of 50 cents and improved more than 100% on a year-over-year basis.
Total revenues of $11.9 billion beat the Zacks Consensus Estimate of $11.7 billion. The top line jumped 20.4% year over year on a reported basis and 21% on a constant currency basis.
DoorDash (DASH – Free Report) reported fourth-quarter 2024 earnings of 33 cents per share, which missed the Zacks Consensus Estimate by a penny. The company’s bottom line improved more than 100% year over year.
Revenues of $2.87 billion beat the Zacks Consensus Estimate of $2.83 billion and improved 24.7% year over year.
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