Q2 2024 Luckin Coffee Inc Earnings Call Transcript
Key Points
- Luckin Coffee Inc (LKNCY) achieved a strong year-over-year revenue growth of 35.5%, reaching RMB8.4 billion.
- The company opened 1,371 new stores in the second quarter, bringing the total number of stores to 19,924 in China.
- Net profit for the quarter was RMB871 million, with a net profit margin of 10.4%.
- The number of monthly average transacting customers reached a new record high of 69.69 million.
- Luckin Coffee Inc (LKNCY) launched 30 new SKUs in the second quarter, including popular items like the Light Coffee Lemonade, which sold 5.08 million cups in the first week.
- Operating margin decreased to 12.5% from 18.9% in the same period last year.
- Self-operated store profit margin dropped to 21.5% from 29.1% in the same period last year.
- Operating expenses increased by 46.2% year-over-year, driven by business expansion efforts.
- Sales and marketing expenses as a percentage of revenue increased from 4.9% to 5.1%, reflecting higher costs for brand recognition and market positioning.
- The company reported a loss and expenses related to previously reported fabricated transactions and related restructuring amounting to RMB1.2 million.
Ladies and gentlemen, and welcome to Luckin Coffee second quarter 2024 earnings conference call. (Operator Instructions) Today's conference is being recorded. At this time, I would like to turn the call over to Ms. Alicia Guo, the Head of Investor Relations of Luckin Coffee for prepared remarks and introductions. Please go ahead, Alicia.
Hello, everyone, and thank you for joining us on today's call. Luckin Coffee announced its second quarter 2024 financial results earlier today. Today, you will hear from Dr. Jinyi Guo, Chairman and CEO of Luckin Coffee, and Ms. Jing An, CFO of Luckin Coffee. After the company's prepared remarks, the management team will conduct a question-and-answer session based on questions submitted via the company's webcast. We will be referring to a slide presentation on today's call, which can be found via a conference call webcast link as well as on the company's IR website. The IR website link is investor.luckincoffee.com.
During today's call, the company will be making
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
