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Blue Apron Posts “Less Bad” Results for Q4 and FY 2020

 02/18/2021

For the 4th Quarter and FY 2020 Blue Apron Holdings (APRN) reduced losses for the period ending December 31st 2020.

 

For the most recently completed quarter the Company lost $11.9 million on revenue of $115.5 million with a negative EPS of $0.67. Comparison values for Q4 of FY 2019 were a loss of $21.9 million on revenue of $94.3 million with a negative EPS of $1.66.

 

For FY 2020 the Company lost $46.2 million on revenue of $460.9 million with a negative EPS of $3.06. In comparison for FY 2019 Blue Apron lost $61.1 million on revenue of $454.9 million with a negative EPS of $4.67.

 

During the 4th Quarter of 2020 the Company received 1.88 million orders with a customer base of 353,000.

 

Blue Apron posted total assets of $215.3 million with long-term debt of $76.3 million. Market capitalization is $163.4 million with 12 percent of outstanding shares short.

 

Over the past 52 weeks APRN has traded over a range of $2.01 to $28.44 with a 50-day moving average of $8.53. APRN closed at $10.50 on February 17th but fell post-release, trading at $9.24 at 14H30 on February 18th.

 

The Company yielded a 12-month trailing -9.7 percent return on assets and -69.7 percent on equity.   Operating and profit margins were -9.8 and -12.8 percent respectively.

 

Blue Apron can be regarded as a bellwether for the packaged meal segment of the food industry. If these companies cannot generate profits during COVID restrictions how and when will they?