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Grubhub Second Quarter FY 2019 Results

08/02/2019

In a July 30th press release Grubhub Inc. (GRUB) announced results for the second quarter ended June 30th 2019.  For the three-month period, net income attained $1.25 million on revenue of $325.1 million with an EPS of $0.10. Comparative values for the second quarter of 2018 were net income $30.1 million on revenue of $239.7 million with an EPS of $0.33. 

 

Total expenses increased disproportionately to sales reducing operating income from $34.3 million during the second quarter of 2018 to $650,000 for the second quarter of fiscal 2019.  Income in 2019 included a $600,000 income tax expense compared to a benefit of $4.2 million during the second quarter of fiscal 2018.  Total assets increased 13 percent from December 31st 2018 to $2.34 billion on June 30, 2019. It is noted that 70 percent of assets comprise intangibles and goodwill.

 Grubhub closed on July 29th at $80.19 but after release of the second quarter results sank to $69.83 by the close of trading on Tuesday July 30th.

 

Grubhub ranged in their 52-week share price from $60.20 to a high of $149.35. Market capitalization was $6.38 billion on July 31st. The company acheived a 12-month trailing operating margin of 6.7 percent and a profit margin of 5.0 percent.  Return on assets attained 2.5 percent and on equity 4.2 percent. GRUB is heavily shorted with 26 percent of the float short on July 14, 2019.