Movers: Carvana, Mercado Libre, Mister Car Wash, Morningstar, Planet Fitness, Sweetgreen, Wayfair

Scott Peters
24 Feb, 2023
New York City

Carvana Company dropped 16.5% to $8.40 after the used car dealer reported a sharp fall in revenue and a surge in loss in its latest quarter. 

Carvana said operating revenue in the fourth quarter plunged to $2.8 billion from $3.7 billion in the previous year.

Net loss in the period surged to $809 million from $89 million or diluted loss per share rose to $7.61 from $1.02 a year ago.  

In 2022, operating revenue increased to $13.6 billion from $12.8 billion and net loss surged to $1.6  billion from $135 million or diluted loss per share increased to $15.74 from $1.63 in the  previous year. 

MercadoLibre Inc fell 0.7% to $1,128.45 after the online marketplace operator swung to profit in its latest quarter. 

MercadoLibre Inc said revenue in the fourth quarter increased to $3.0 billion from $2.1 billion a year ago. 

The company swung to a profit of $165 million from a loss of $46 million and diluted earnings per share was $3.25 compared to a loss of 92 cents in the previous year. 

Mister Car Wash Inc fell 0.8% to $9.17 after the company said net income declined in its latest quarter on higher operating expenses. 

In the quarter, the car wash services provider added 24,000 net new members and increased its total membership to 1.88 million, 13.8% higher than a year ago. 

Unlimited Wash Club sales represented approximately 71% of total wash sales in the fourth quarter of 2022 compared to approximately 67% in the corresponding period a year ago. 

Mister Car Wash said revenue in the fourth quarter increased 12% to $214.3 million and comparable sales increase slowed to 4.0% from 14.6% a year ago. 

Net income plunged to $17.7 million from $37.2 million and diluted earnings per share dropped to 5 cents from 11 cents a year ago. 

In 2022, revenue increased 15.6% to $876.5 million and the company swung to a net income of $112.9 million from a loss of $22 million and diluted EPS was 34 cents from a loss of 8 cents in the previous year.  

Morningstar, Inc declined 14.2% to $202.27 after the financial data and information provider reported a sharp fall in earnings in its latest quarter.  

Morningstar said revenue in the fourth quarter increased 2.8% to $475 million and net income plunged 94% to $3.3 million from $56.5 million and diluted earnings per share dropped to 8 cents from $1.30 a year ago. 

In 2022, revenue increased 10.1% to $1.87 billion and net income dropped 63.5% to $70.5 million from $193.3 million and diluted earnings per share declined to $1.64 from $4.45 in the previous year. 

Planet Fitness Inc decreased 4.0% to $80.06 despite the company reporting higher revenue and earnings. 

Planet Fitness said revenue in the fourth quarter increased 53.2% to $281.3 million and net income increased to $33.6 million from $5.7 million and diluted earnings per share rose to 40 cents from 7 cents a year ago. 

In 2022, total revenue increased to $936.7million from $587 million and net income rose to $110.4 million from $46.1 million and diluted earnings per share increased to $1.18 from 51 cents a year ago. 

Sweetgreen, Inc declined 1.4% to $9.18 after the salad chain operator reported a sharp slowdown in same store sales growth. 

Sweetgreen said revenue in the fourth quarter increased 23% to $118.6 million and same store sales slowed to 4% from 36% in the previous year. 

Net loss shrank to $49.3 million from $66.2 million and diluted loss per share fell to 44 cents from $1.14 a year ago. 

Wayfair Inc fell 1.7% to $37.69 after the company reported a decline in sales and larger loss in its latest quarter. 

Wayfair said revenue in the fourth quarter decreased 4.6% to $3.1 billion and net loss expanded to $351 million from $202 million and diluted loss per share rose to $3.26 from $1.92 a year ago. 

In 2022, total revenue decreased to $12..2 billion from $13.7 billion and net loss increased to $1.3 billion from $131 million or diluted loss per share expanded to $12.54 from $1.26 in the previous year. 

Active customers in 2022 declined to 22 million from 27 million in 2021 and average order size increased to $305 from $265 respectively.