GrubHub beats by $0.04, beats on revs; guides Q4 revs in-line :
- Reports Q3 (Sep) adj. earnings of $0.23 per share, $0.04 better than the Capital IQ Consensus of $0.19; revenues rose 44.1% year/year to $123.5 mln vs the $118.57 mln Capital IQ Consensus. Adj. EBITDA +65% to $35.5 mln VS. $30-32 mln guidance.
- Active Diners were 7.69 million, a 19% year-over-year increase from 6.43 million Active Diners in the third quarter of 2015. Daily Average Grubs were 267,500, a 26% year-over-year increase vs. +21% in Q2. Gross Food Sales were $735 million, a 33% year-over-year increase from $554 million in the third quarter of 2015.
- Co issues in-line guidance for Q4, sees Q4 revs of $136-138 mln vs. $136.16 mln Capital IQ Consensus; EBITDA $38-40 mln.
- "We are pleased with Grubhub's third quarter growth, as we continue building the most comprehensive marketplace for restaurants and takeout diners. Our product improvements and investment in delivery continue to generate high levels of sustainable growth," said Matt Maloney, Grubhub CEO. "Grubhub is now delivering for restaurant partners in over 60 markets nationwide, and our growth rate is generally highest in markets where a substantial percentage of orders are being delivered by our drivers."
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