Stock News Buzz: Grubhub Inc. (NYSE: GRUB)

On 08 Nov 2019, Grubhub Inc. (NYSE: GRUB) settled surge of 4.57% in recent trading period with closing price of $36.19. The company’s last traded volume of 5036231 shares vs to an average volume of 3654.18K shares.

Grubhub Inc. (GRUB), the nation’s leading online and mobile food-ordering and delivery marketplace, recently reported financial results for the third quarter ended September 30, 2019 and also posted a letter to shareholders on its investor relations website. The Company stated revenues of $322M, which is a 30% year-over-year increase from $247M in the third quarter of 2018. Gross Food Sales grew 15% year-over-year to $1.4B, up from $1.2B in the same period last year.

Third Quarter 2019 Highlights
The following results reflect the financial performance and key operating metrics of our business for the three months ended September 30, 2019, as contrast to the same period in 2018.

Third Quarter Financial Highlights

  • Revenues: $322.1M, a 30% year-over-year increase from $247.2M in the third quarter of 2018.
  • Net Income: $1.0M, or $0.01 per diluted share, a decrease from $22.7M, or $0.24 per diluted share, in the third quarter of 2018.
  • Non-GAAP Adjusted EBITDA: $53.8M, a 10% year-over-year decrease from $60.1M in the third quarter of 2018.
  • Non-GAAP Net Income: $24.7M, or $0.27 per diluted share, a decrease from $42.2M, or $0.45 per diluted share, in the third quarter of 2018.

Third Quarter Key Business Metrics Highlights1

  • Active Diners: 21.2M, a 29% year-over-year increase from 16.4M Active Diners in the third quarter of 2018.
  • Daily Average Grubs (DAGs): 457,300, a 10% year-over-year increase from 416,000 DAGs in the third quarter of 2018.
  • Gross Food Sales: $1.4B, a 15% year-over-year increase from $1.2B in the third quarter of 2018.

“Last year, in the fourth quarter, we made opportunistic investments to expand delivery market coverage, increase new diner advertising and accelerate our enterprise brand sales efforts. Through the third quarter of 2019, we believe all three of these initiatives had a positive impact on our business and long-term shareholder value,” stated Adam DeWitt, Grubhub President and CFO. “Importantly, we demonstrated the ability to generate operating leverage consistently throughout 2019 with EBITDA per order increasing 31% from $0.98 in the fourth quarter of 2018 to $1.28 in the third quarter of 2019.  We are excited to embark on the initiatives detailed in the shareholder letter to further differentiate our marketplace for both restaurants and diners and position us for maintaining, and eventually improving, profitability.”

GRUB added at 7.33% in past week and declined with -32.48% in one month. During the past three-month period the stock dropped of -44.91% and decreased at -41.54% in past six month while year to date performance of -52.88%.

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