Lyft jumps on 15% growth outlook for bookings over three years

Lyft Inc. is expecting gross bookings to grow about 15% at a compound annual rate in the next three years, the company said Thursday ahead of its first investor day. Shares of the company were up about 10% at 8:57 a.m. in New York.

It also sees its adjusted Ebitda margin, as a percentage of gross bookings, to be about 4% in 2027. Analysts were expecting 3.4%, according to Bloomberg-compiled estimates. It anticipates full-year free cash flow conversion of more than 90% annually each year between 2025 and 2027.

The San Francisco-based company’s remarks are part of a broader three-year growth outlook that it provided early Thursday. Investor presentations will begin at 9 a.m. in New York. Chief Executive Officer David Risher, Chief Financial Officer Erin Brewer and other executives are expected to share more details on the business outlook.