Before handing the call over to the company, we will review the Safe Harbor statements. On this morning's call, we have Linda Findley, President and Chief Executive Officer of Blue Apron and Mitch Cohen, Interim Chief Financial Officer. A slide presentation has been created to accompany today's remarks and can be accessed on the Blue Apron Investor Relations website.
As a reminder, this call is being recorded today, Thursday, March 16, 2023, for replay purposes.
At this time, all participants are in a listen-only mode. Operator: Good morning, and welcome to the Blue Apron Holdings Fourth Quarter and Full Year 2022 Earnings Conference Call and Webcast. (NYSE: APRN) Q4 2022 Earnings Call Transcript March 16, 2023 Unless Blue Apron is acquired, I don't see its stock heading higher - or even remaining listed on the NYSE - over the next five years.Blue Apron Holdings, Inc. It isn't offering any meaningful ways to counter its larger rivals, the COVID-19 tailwinds are likely temporary, and its main strategy is to stabilize a shrinking business while cutting costs.
So where will Blue Apron be in five years?īlue Apron isn't doomed yet, but its weaknesses are still overwhelming its strengths. That low price tag could make it a tempting takeover target for its rivals or other grocers. They'll note that revenue rose sequentially last quarter, and the company expects its second-quarter revenue to rise another 28% sequentially as the COVID-19 crisis boosts its meal kit orders again.īlue Apron also has an enterprise value under $200 million, and its market cap is just one-third of annual revenue as of this writing. The bulls believe Blue Apron will eventually stop losing customers, and its average spending per customer will continue to rise. Kroger and Albertsons can aggressively promote their own meal kits through their websites and brick-and-mortar stores. Blue Apron will struggle to counter those threats and control its spending at the same time.
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