QRTEP - Qurate Retail Will Keep On Dipping
2024-06-10 05:36:52 ET
Summary
- Qurate Retail has seen a 17% dip in its stock since the start of 2024 due to consistently declining quarterly revenues.
- The company's total debt balance is driving it toward negative shareholders' equity with a balance sheet heavy on liabilities and light on assets.
- Qurate's free cash flow for the first quarter was negative, primarily due to its debt burden and higher interest expenses.
Qurate Retail ( QRTEA ) has dipped 17% since the start of 2024 to reflect its quarterly revenues that have consistently recorded a decline over their year-ago comps since 2020. The company generated fiscal 2024 first-quarter revenue of $2.34 billion , down 11.4% over its year-ago comp and missing consensus by $60 million. Qurate owns six leading retail brands with the bulk of its customers reached via 15 television networks in cable and free over-the-air TV but also by streaming services, websites, and social media. The ticker is down markedly since I last covered it....
Qurate Retail Will Keep On Dipping