Qurate Retail 8% Preferred: A Lot Of Drama And A Lot Of Liquidity [Seeking Alpha]
Qurate Retail, Inc. - Series A (QRTEA)
Last qurate retail, inc. - series a earnings: 2/25 04:30 pm
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Source: Seeking Alpha
Ben GabbeThe Quarter:Qurate Retail (QRTEAreported earningsdownadjusted OIBDA down 40% (38% in constant currency). Margins were impacted by a slew of challenges, mainly tied to negative operating leverage and inflation.Margin Impacts on Qurate Q2.(Qurate Retail Q2 Company Presentation)Free cash flow was weak at negative $137 million. The only positives were the company finished the quarter with still relatively low leverage of 2.3x, $561 million of cash and equivalents and $2.5 billion of liquidity at quarter-end, generated more liquidity provided by sale leasebacks after quarter-end, and remained well below all bank covenants and comfortably within all restricted payments capacity necessary to service parent level debt and preferreds.Mea CulpaWell, I definitely whiffed on these Qurate 8% Preferreds (NASDAQ:QRTEPManagement has made several moves to address liquidity with the foremost being sale-leaseback transactions that raised $685 million, the bulk of which came after the quarter. T
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QRTEA
News
- Qurate Retail Group Launches 'The Big Dish' on The Roku Channel [Yahoo! Finance]Yahoo! Finance
- Qurate Retail Group Launches 'The Big Dish' on The Roku ChannelPR Newswire
- QVC DEFINES A NEW AGE OF POSSIBILITY CHAMPIONING WOMEN 50 AND OVER TO LIVE THEIR BEST LIVES [Yahoo! Finance]Yahoo! Finance
- QVC DEFINES A NEW AGE OF POSSIBILITY CHAMPIONING WOMEN 50 AND OVER TO LIVE THEIR BEST LIVESPR Newswire
- Qurate Retail Group Promotes Bill Wafford to Chief Administrative Officer [Yahoo! Finance]Yahoo! Finance
QRTEA
Earnings
- 2/28/24 - Beat
QRTEA
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEF
- 4/11/24 - Form 8-K
- QRTEA's page on the SEC website