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財報前瞻 | Lyft還能在年內實現盈利嗎?
uSMART盈立智投 08-03 22:43

網約車服務公司Lyft(LYFT.US)將於8月4日清晨公佈其第二季度財報。

市場預期Lyft二季度營收爲7億美元,同比增長106%;預期經調整後EBITDA爲負4025萬美元,去年同期爲負2.8億美元。

營收尚未恢復

Lyft在二季度的業績將超過去年受疫情嚴重影響的指標,市場預計Lyft的營收將比去年同期增長一倍以上。然而,與2019年同期相比,Lyft的營收仍將下降19%以上。

許多分析師表示,去年,隨着網約車服務和其他旅遊業務面臨壓力,Lyft大幅削減成本,在目前需求恢復的情況下,這些舉措幫助公司走上了更強勁的盈利道路。

Wedbush分析師Dan Ives和Ygal Arounian認爲,“我們預計需求將繼續反彈,同時,Lyft在疫情最嚴重時期所做的基礎工作將使公司在競爭中處於更有利的位置,從而實現更強的盈利能力。”

客單價穩步增長

在疫情期間,隨着需求的增加和低價拼車選擇的消失,Lyft每名活躍乘客的收入將進一步上升,分析師普遍預計,第二季度這一數字將達到45.31美元,而去年同期爲39.06美元。即使活躍乘客數量進一步增長,這種情況也將繼續。

Lyft的目標是在2021年第三季度實現正數的經調整後EBITDA,如果目標實現這將是該公司自2019年初上市以來首次盈利。今年早些時候,Lyft削減了員工和其他成本,並將自動駕駛汽車開發部門出售給了豐田的一家子公司。今年5月,Lyft首席財務官Brian Roberts表示,即使今年的拼車量比2019年底的疫情前水平低33%,該公司仍可以實現經調整後的EBITDA盈利。

勞動力短缺

與規模更大的競爭對手Uber相比,作爲一家純粹的網約車服務公司,Lyft迄今爲止是今年美國重新開放主題和轉向週期性投資的最大受益者。然而,這種商業模式也讓Lyft容易受到近期出現的與疫情反覆的影響,包括擔心Delta變種病毒的傳播可能會再次抑制消費者的外出趨勢。和許多公司一樣,Uber和Lyft都面臨着美國經濟中普遍存在的勞動力短缺問題,大量的司機激勵措施可能會降低這兩家公司的利潤率。

MKM Partners董事總經理Rohit Kulkarni週一在一份報告中寫道:“我們相信,隨着司機供應和消費者需求的改善,拼車趨勢將繼續改善。”

他補充說:“從戰術上講,Lyft第二季度和第三季度的盈利前景可能會向投資者提供一個清晰的前景,並朝着盈利的方向發展,而Uber最近的收購、潛在的股權稀釋和不明確的全球疫情復甦可能會增加其盈利的風險。”“近期市場對Lyft的爭論包括利率趨勢、Delta變種病毒對第三季度前景的影響,以及司機供應限制。”

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