2023-05-09 06:01:59 ET
- WeWork press release ( NYSE: WE ): Q1 GAAP EPS of -$0.34 in-line.
- Revenue of $849M (+11.0% Y/Y) in-line.
- The Company’s Free Cash Flow during the first quarter 2023 of $(343) million was $18 million better than its projection of $(361) million made in connection with its Debt Restructuring Transaction.
- Consolidated physical occupancy was 73% at the end of the first quarter 2023, an increase from 67% at the end of the first quarter 2022.
- The Company expects its second quarter 2023 revenue to be $840 million to $865 million and Adjusted EBITDA to be $(10 million) to $15 million. The Company expects its available cash and cash equivalents at the end of the second quarter to be consistent with or slightly better than projections provided with its Debt Restructuring Transaction.
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WeWork GAAP EPS of -$0.34 in-line, revenue of $849M in-line