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Microcap & Penny Stocks : Qurate Retail

QVCGA 11.39

-4.5%

Oct 31 9:30 AM EDT

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From: Sean Collett	5/8/2024 7:16:47 AM
	of 85

Q1 2024 Results: Qurate revenue declined 4% from Q1 2023 going from $1.6B to $1.5B with the biggest decline coming from Cornerstone at 11%. Declines in QVC look to be driven by declines in home and apparel. They confirmed the repayment of the $423MM 4.85% notes as I mentioned they would. Cash position still looks very good with $1.1B in cash but debt position looks unchanged so likely more of their revolver was used to move the 4.85% out vs. using cash (they have $1.9B left on the revolver). Their adjusted OIBDA over 40% as reported for the third consecutive quarter of growth. Still work to be done here. -Sean

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