Movers: Fresenius, Lucid Group, PayPal, SeaWorld Entertainment, Semrush, Warby Parker

Scott Peters
09 May, 2023
New York City

PayPal Holdings Inc decreased 7.2% to $70.50 after the payment services provider said net revenue in the first quarter increased 9% to $7.04 billion from $6.5 billion and net income increased 56% to $795 million from $509 million and diluted earnings per share increased to 70 cents from 43 cents a year ago. 

Total payment volume soared 10% from a year ago to $354.5 billion from $322.9 billion and payment transactions rose 13% to 5.8 billion. 

Total active accounts on a trailing 12 months basis increased 1% to 433 million and payment transactions per active accounts increased 13% to 53.1 million. 

In the first quarter, the company repurchased approximately 19 million of its shares for $1.4 billion and repurchased approximately 48 million shares for $4.1 billion.  

Lucid Group plunged 9.7% to $6.98 after the luxury electric vehicle marker said revenue in the first quarter increased to $149.4 million from $57.7 million and net loss widened to $779.5 million from $604.7 million and diluted loss per share increased to 43 cents from 36 cents a year ago. 

The electric vehicle company produced 2,314 units and delivered 1,406 units. The company said liquidity at the end of the quarter was $4.1 billion.  

Fresenius Medical SE increased 0.9% to $23.40 after the German dialysis company reported adjusted earnings that were ahead of expectations. 

Revenue in the first quarter increased 3.4% to €4.7 billion and net income fell 45.1% to €86 million from €157 million and basic earnings per share declined to 29 cents from 54 cents a year ago. 

Adjusted earnings per share, which excludes the U.S. Provider Relief Funding and Ukraine war related items among other adjustments, declined to 53 cents from 67 cents a year ago. 

Fresenius forecasted 2023 annual revenue "to grow at a low to mid-single digit percentage rate" from €19.39 billion and operating income to remain "flat or decline by up to a high-single digit percentage rate" from €1.54 billion. 

Semrush Holdings, Inc decreased 11.9% to $8.68 after the cloud based services provider reported first quarter results. 

Revenue in the first quarter increased 24% to $70.9 million and average revenue run rate advanced 23% to $293 million and paying customers increased 15% to above 100,000. 

Free active customers increased 36% to 885,000 and the number of customers paying more than $10,000 increased 45%.  

Net loss in the quarter increased to $9.9 million from $2.9 million and diluted loss per share expanded to 7 cents from 2 cents a year ago. 

The company forecasted second quarter revenue to increase 19% at mid-point of the range between $73.6 million and $75 million and non-GAAP earnings between $1.5 million and $3.0 million.

For the full-year 2023, the company estimated revenue between $306.0 million and $309.0 million and non-GAAP net income between breakeven and $3.0 million. 

SeaWorld Entertainment Inc increased 5.3% to $59.43 after the company reported a record park attendance in the first quarter. 

Revenue in the first quarter increased 8.4% to $293.3 million and net loss expanded to $16.5 million from $9.0 million and diluted loss per share increased to 26 cents from 12 cents a year ago. 

The company reported record revenue for the eighth quarter in a row. 

Total revenue per person increased 9.2% to $86.84, driven by admission per person increased 9.4% to $48.51 and 8.9% increase in in-park spending to $38.33. 

After the end of the first quarter, the company repurchased 235,000 shares for $13.9 million, leaving approximately $42.4 million remaining in its stock repurchase program as of May 4. 

Warby Parker Inc declined 2.2% to $11.86 after the company reiterated its annual revenue outlook. 

Revenue in the first quarter increased 12.2% to $172 million and average revenue per customer increased 8.4% to $270 and active customers increased 2.5% to 2.29 million.

The company opened 6 new stores in the quarter and the total store count increased to 204. 

Net loss in the quarter shrank $10.8 million from $34.1 million and diluted loss per share fell to 9 cents from 30 cents a year ago. 

The company reiterated its full-year 2023 revenue outlook between $645 million and $660 million, an increase between 8% and 10% from the previous year.