Twitter

Link your Twitter Account to Market Wire News


When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.


Be alerted of any news about your stocks and see what other stocks are trending.



home / articles / more ebitda losses at uber freight but ron touts bro mwn benzinga


UBER - More EBITDA Losses at Uber Freight but Ron Touts Brokerage-TMS Integration | Benzinga

The EBITDA losses keep piling up quarter after quarter at Uber Freight, but President Lior Ron offered nothing but optimism in an earnings preview interview, saying the integration between the legacy digital brokerage with Transplace is mostly complete and its future is looking up.

Uber (NYSE: UBER) Freight's earnings before interest, taxes, depreciation and amortization for the first quarter, released Wednesday as part of the parent company's earnings report, showed a loss of $21 million. That is $2 million better than the first quarter of 2023 but worse than every other quarter of 2023 as well as the fourth quarter of 2022. In 2022's third quarter, Uber Freight posted positive EBITDA of $1 million, the only quarter it has ended up in the black on an EBITDA basis.

Among other highlights in the quarterly earnings report, Uber Freight's revenue declined 8% to $1.28 billion, down from $1.4 billion. That revenue was flat sequentially.

Uber Freight announced its acquisition of Transplace in 2022, bringing together a leading provider of transportation management system technology with the digital brokerage. Despite the continued EBITDA losses, Ron said in the interview that the progress envisioned when the acquisition was made is on track.

"We are the largest transportation management and TMS provider in the industry" Ron said, measuring that by what he said was $18 billion of freight under management.

And even though the losses are growing rather than retreating, Ron said he likes where Uber Freight is now. "More than half the business has a very stable and growing revenue stream" he said. "It is more a SaaS (software-as-a-service)-like business that is completely separate from the ebbs and flows of marketplace pricing that brokerages are exposed to."

Highlighting the differences with Convoy

Prior to the collapse of digital brokerage Convoy last year, it was hard not to think of that company without immediately thinking of Uber ...

Full story available on Benzinga.com

Stock Information

Company Name: Uber Technologies Inc.
Stock Symbol: UBER
Market: NYSE
Website: ub3r.host

Menu

UBER UBER Quote UBER Short UBER News UBER Articles UBER Message Board
Get UBER Alerts

News, Short Squeeze, Breakout and More Instantly...