Blue Apron Shares Drop On Q3 Consensus Miss, Withdrawal Of Guidance

Blue Apron Holdings, Inc APRN reported a flattish third-quarter FY22 sales growth year-on-year to $109.7 million, missing the consensus of $118.9 million.
Orders fell 12% Y/Y, while the average order value rose 13.7% to $70.83.
The average revenue per customer grew 8.6% Y/Y to $340. The number of customers fell by 7.7%.
EPS loss of $(0.74) missed the consensus loss of $(0.50).
Adjusted EBITDA loss widened to $(17.5) million from $(11.7) million last year.
The company held $31 million in cash and equivalents, and free cash flow was negative $22.7 million.
Outlook: Due to the uncertainty of the anticipated funds from Joseph N. Sanberg's affiliates, Blue Apron withdrew its previously announced revenue growth target of 7% - 13% for 2022.
Price Action: APRN shares traded lower by 17.87% at $1.70 in the premarket on the last check Monday.
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