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Strategies & Market Trends : Value Investing
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To: Sean Collett who wrote (74127)11/3/2023 7:39:19 AM
From: Sean Collett1 Recommendation

Recommended By
sixty2nds

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RE: QRTEA

Up 28% in pre-market going off their results. While revenue declined 3% at QVC, they took out $435M from their revolver balance and long-term debt went from $5,525 to $4,835 (-12.4%) compared to December 2022.

Their adjusted OIBDA grew 35%.

Cornerstone is the next thing they need to look at chopping as revenue there declined by 13% ($285 reported this quarter vs. $327 previous). This is a drag just like Zulily.

$1,099 in cash and cash equivalents and cash from operating activities was positive.

The debt reduction is a big win IMO. Will improve shareholder yield as they continue to drive this.

$1,029 in working capital and $660 in net working capital.

Still work to be done, but seems to be moving in the right direction.

-Sean
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