MercadoLibre, Inc. (NASDAQ:MELI) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET Company Participants Richard Cathcart - Investor Relations Officer Marcos Galperín - CEO Martin de los Santos - CFO Osvaldo Gimenez - Fintech President Ariel Szarfsztejn - Commerce President Conference Call Participants Irma Sgarz - Goldman Sachs Andrew Ruben - Morgan Stanley Maria Clara Infantozzi - Itaú Geoffrey Elliott - Autonomous Jamie Friedman - Susquehanna Craig Maurer - FT Partners Deepak Mathivanan - Canto ...

MercadoLibre (MELI) came out with quarterly earnings of $7.83 per share, missing the Zacks Consensus Estimate of $11.27 per share. This compares to earnings of $7.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -30.52%. A quarter ago, it was expected that this operator of an online marketplace and payments system in Latin America would post earnings of $8.72 per share when it actually produced earnings of $10.48, delivering ...

Montevideo, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Mercado Libre delivers solid Q3 results posting revenue of $5.3B driven by user and engagement surge across markets and businesses Investments in customer experience, technology and logistics increase sales and engagement across Latin America; In Commerce, unique buyers climbed 21% year-on-year, to nearly 61 million, while GMV reached $12.9 billion, rising 14% in dollars; Mercado Pago saw its credit portfolio soar by 77% year-on-year, reaching an impressive ...

Revenue and Financial Performance - Net revenues & financial income reached $5.3 billion, up 35% YoY and 103% FX-neutral[3] - Net income rose 11% YoY to $397 million, with a Net Income margin of 7.5%[26] - Consolidated net revenues in Brazil grew by 60% year-over-year in Q3'24[34] - Net revenues and financial income rose to $14,718 million for the nine months ended September 30, 2024, compared to $10,698 million in the same period of 2023[53] - Net income for the nine months ended September 30, 2024 was $1,272 million, compared to $822 million in the same period of 2023[53] - Net revenues and financial income for Q3 2024 totaled $5,312 million, with Brazil contributing $2,913 million, Mexico $1,145 million, Argentina $1,033 million, and other countries $221 million[57] - Net revenues and financial income increased by 35.3% to $5,312 million in Q3 2024 compared to $3,927 million in Q3 2023[68] - Net income for the nine months ended September 30, 2024, increased to $1,272 million from $822 million in 2023[56] Payment Volume and Transactions - Total Payment Volume (TPV) grew to $50.7 billion, up 34% YoY and 73% FX-neutral[3] - Total payment volume surged to $137.746 billion in the nine months ended September 30, 2024, from $102.278 billion in 2023[31] - Acquiring total payment volume rose to $100.367 billion in the nine months ended September 30, 2024, up from $81.221 billion in 2023[31] - Total payment transactions increased to 8.030 billion in the nine months ended September 30, 2024, from 5.275 billion in 2023[31] - Total payment volume in Mexico rose by 44% year-over-year in Q3'24[32] Gross Merchandise Volume (GMV) - Gross Merchandise Volume (GMV) increased to $12.9 billion, up 14% YoY and 71% FX-neutral[3] - Gross merchandise volume reached $36.919 billion for the nine months ended September 30, 2024, compared to $31.299 billion in 2023[31] - Gross merchandise volume in Argentina increased by 218% year-over-year in Q3'24[34] User Growth and Engagement - Unique buyers across the region reached 61 million, rising 21% YoY[4] - Fintech monthly active users (MAU) rose 35% YoY to 56 million[10] - Fintech monthly active users increased to 56 million in Q3'24 from 42 million in Q3'23[31] - Unique active buyers grew to 87 million in the nine months ended September 30, 2024, up from 74 million in the same period in 2023[31] Credit Portfolio and Assets - The credit card portfolio grew to $2.3 billion, up 172% YoY and 28% QoQ[11] - Total credit portfolio grew 77% YoY to $6.0 billion, with consumer book up 37% YoY[12] - Assets under management (AUM) grew 93% YoY to $8.0 billion[15] - Loans receivable, net of allowances, increased to $4,248 million in Q3 2024 from $2,629 million in December 2023[52] - Total assets increased to $22,623 million in Q3 2024 from $17,646 million in December 2023[52] Advertising Revenue - Advertising revenue grew 37% YoY, reaching a penetration of 2.0% of GMV, up 30 bps YoY[9] Expenses and Investments - Product and technology development expenses increased to $504 million in Q3 2024 from $396 million in Q3 2023[53] - Sales and marketing expenses grew to $566 million in Q3 2024 from $441 million in Q3 2023[53] - Investments in property and equipment and intangible assets totaled $555 million in Q3 2024, compared to $329 million in Q3 2023[71] - Changes in loans receivable, net, amounted to $3,316 million in Q3 2024, up from $1,465 million in Q3 2023[71] - Proceeds from loans payable and other financial liabilities related to Fintech solutions were $989 million in Q3 2024, compared to $94 million in Q3 2023[71] Cash Flow and Liquidity - Cash and cash equivalents decreased to $2,162 million in Q3 2024 from $2,556 million in December 2023[52] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $4,994 million, up from $3,212 million in 2023[56] - Adjusted free cash flow for Q3 2024 was $635 million, down from $1,067 million in the same period last year[71] - Net increase in available cash and investments for Q3 2024 was $589 million, compared to $499 million in Q3 2023[71] - Net cash provided by operating activities in Q3 2024 was $4,994 million, up from $3,212 million in Q3 2023[71] - Available cash and investments at the end of Q3 2024 stood at $4,417 million, up from $3,774 million at the end of Q3 2023[71] Debt and Financial Liabilities - Net debt as of September 30, 2024, was $1,907 million, up from $1,505 million as of December 31, 2023[65] - Total debt as of September 30, 2024, increased to $6,324 million from $5,333 million as of December 31, 2023[65] - Total current liabilities rose to $14,313 million in Q3 2024 from $11,297 million in December 2023[52] Profitability and Margins - Gross profit for Q3 2024 reached $2,439 million, up from $2,095 million in Q3 2023[53] - Basic net income per share for Q3 2024 was $7.83, up from $7.18 in Q3 2023[54] - Gross profit rose by 16.4% to $2,439 million in Q3 2024 from $2,095 million in Q3 2023[68] - Income from operations decreased by 29.0% to $557 million in Q3 2024 from $785 million in Q3 2023[68] - Net interest margin after losses (NIMAL) decreased to 28.3% in the nine months ended September 30, 2024, from 35.1% in 2023[31] Investments and Financial Assets - Short-term investments as of September 30, 2024, were $1,109 million, down from $1,191 million as of December 31, 2023[65] - Long-term investments as of September 30, 2024, increased to $1,146 million from $81 million as of December 31, 2023[65] Direct Contribution and EBITDA - Direct contribution for Q3 2024 was $1,184 million, with Brazil contributing $505 million, Mexico $192 million, Argentina $457 million, and other countries $30 million[57] - Adjusted EBITDA for Q3 2024 was $714 million, compared to $920 million in Q3 2023[63]

Montevideo, Nov. 06, 2024 (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq: MELI) (http://www.mercadolibre.com) today reported financial results for the quarter ended September 30, 2024, in a Letter to Shareholders, which is now posted to the company’s Investor Relations website https://investor.mercadolibre.com. The Company will host its earnings video conference, as well as a conference call and audio webcast for any questions that investors may have, on November 6, at 5:00 p.m. Eastern Time. In order to ...

For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. MercadoLibre (MELI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.MercadoLibre is a member of the Retail-Wholesale sector. This group includes 210 individual stocks and currently holds a Zacks Secto ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth S ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about MercadoLibre (MELI) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.MercadoLibre currently has an average ...

Outside of Nvidia (NVDA) , all of the Magnificant-7-themed big tech stocks have already released their results for the Q3 period but this week’s earnings lineup features several intriguing large-cap stocks from a variety of sectors.As leaders in their respective industries, here are three of these top large-cap stocks to buy with their quarterly results approaching on Wednesday, November 6. MercadoLibre - MELIStarting in the retail sector, South American e-commerce leader MercadoLibre (MELI)  is expected to ...

MercadoLibre (MELI) is scheduled to release its third-quarter 2024 results on Nov. 6. For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $5.25 billion, suggesting a rise of 39.73% from the prior-year quarter’s reported figure.The Zacks Consensus Estimate for third-quarter earnings is pegged at $11.27 per share, suggesting a jump of 57.4% from the year-ago reported figure. The estimate has been unchanged over the past 30 days.Image Source: Zacks Investment ResearchFind the latest E ...