Overview
- Instacart posted adjusted EPS of $0.51 and revenue of $939 million, topping estimates, with gross transaction value up 10% to $9.17 billion.
- The company guided Q4 GTV to $9.45–$9.6 billion and projected adjusted EBITDA of $285–$295 million after a strong October and enterprise growth.
- Orders rose 14% to 83.4 million as average order volume fell 4% due to more restaurant orders and waived delivery fees on smaller baskets for Instacart+ members.
- New CEO Chris Rogers highlighted a pivot to affordability, enterprise solutions, ads expansion, and AI tools, including a new shopping assistant for grocers.
- Capital returns accelerated with a $1.5 billion buyback increase and a $250 million accelerated repurchase, even as the company flagged SNAP-related disruptions and intensifying competition from Amazon and DoorDash.