Lyft (LYFT)


May 8, 2024

LYFT: Builds on Recently Improved Execution

By Steven Fox

We adjust our 2024/2025E adjusted EBITDA for Lyft (LYFT; $16.60; E/W) from $338mm/$465mm to $345mm/$465mm after it produced a solid Q1 top and bottom line beat that was accompanied by a healthy guidance update for…

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May 7, 2024

LYFT: First Look at Q1 Results and Outlook

By Steven Fox

Lyft (LYFT; $16.60; E/W) posted Q1 gross bookings of $3.69B, beating our consensus matching $3.58B, which in turn drove adjusted EBITDA of $59mm (1.6% of gross bookings) that also was ahead of our consensus-matching $55mm…

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May 3, 2024

LYFT: Looking for a Credible Quarter

By Steven Fox

We assume Lyft’s (LYFT; $17.65; E/W) Q1 results and outlook, scheduled for Tuesday (5/7 after market), at least live up to Street expectations given indications of a still healthy U.S. travel environment, even with ongoing…

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March 21, 2024

LYFT: Furthers Its Media Capabilities

By Steven Fox

Earlier today, Lyft (LYFT; $20.55; E/W) disclosed in a blog post that its Media division, which is its dedicated media and advertising business, expanded its advertising offerings through the launch of in-app video ads across…

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March 18, 2024

LYFT: Exiting Minneapolis

By Steven Fox

Last Thursday, the Minneapolis City Council passed an ordinance that requires rideshare drivers to earn $0.51 per minute and $1.40 per mile for each ride provided, with a minimum of $5 for each fare, excluding…

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February 14, 2024

LYFT: Demonstrates Benefits of New Tactics

By Steven Fox

We adjust full year 2024E EBITDA for Lyft (LYFT; $12.13; E/W) from $350mm (2.3% of gross bookings) to $338mm (2.1% of gross bookings) after somewhat of a Q4 beat and Q1E guidance that was a…

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February 6, 2024

LYFT: Takes Some Driver Friendly Product Steps

By Steven Fox

Earlier today, Lyft (LYFT; $13.32; E/W) announced in a blog post an early-2024 driver product release, which includes a range of driver friendly initiatives that are aimed at improving driver earnings while also adding steps…

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February 5, 2024

LYFT: More About the Journey or the Destination?

By Steven Fox

Lyft’s (LYFT; $12.70; E/W) Q4 print on 2/13 (after market) came with extra importance given management’s long-standing promise, since Erin Brewer joined as CFO on 5/16/23 (“And Now a New CFO”; 5/17/23), to offer up…

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November 9, 2023

LYFT: Making Progress

By Steven Fox

We bump up 2023E and 2024E EBITDA for Lyft (LYFT; $10.72; E/W) from $190mm and $325mm to $210mm (1.5% of gross bookings, 4.5% of sales) and $350mm (2.3% of gross bookings, 7.0% of sales) after…

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November 8, 2023

LYFT: First Look at Q3 Results and Outlook

By Steven Fox

Lyft (LYFT; $10.72; E/W) reported Q3 sales of $1,158mm (+13% QoQ and +10% YoY), which was somewhat ahead of our $1,150mm and the Street’s $1,143mm. Adjusted EBITDA was $92mm (7.9% of sales), which was ahead…

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October 30, 2023

LYFT: Needs to Show Further Attention to Details

By Steven Fox

We assume Lyft’s (LYFT; $9.26; E/W) Q3 results and outlook, scheduled for Wednesday, November 8th (after market), are at least around near-term targets given recent travel indicators and executive leadership changes, which have emphasized rational…

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August 10, 2023

LYFT: More on the Ad Front

By Steven Fox

This morning, Lyft (LYFT; $10.85; E/W) disclosed in a blog post that its Media division (dedicated media and advertising business) is rolling out personalized ads across the Lyft ridershare app through a partnership with Rokt….

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August 9, 2023

LYFT: Producing Some Post-Restructuring Progress

By Steven Fox

We adjust our 2023E EBITDA forecasts for Lyft (LYFT; $11.56; E/W) from $233mm (5.6% of sales) to $190mm (4.4% of sales) after the company produced somewhat of a Q2 beat, albeit accompanied by some relatively…

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August 9, 2023

LYFT: Producing Some Post-Restructuring Progress

By Steven Fox

We adjust our 2023E EBITDA forecasts for Lyft (LYFT; $11.56; E/W) from $233mm (5.6% of sales) to $190mm (4.4% of sales) after the company produced somewhat of a Q2 beat, albeit accompanied by some relatively…

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August 8, 2023

LYFT: First Look at Q2 Results and Outlook

By Steven Fox

Lyft (LYFT; $11.56; E/W) reported Q2 sales of $1,021mm (+2% QoQ and +3% YoY), which compared to our $1,000mm and the Street’s $1,022mm. Adjusted EBITDA was a profit of $41mm (4.0% of sales), which was…

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