What risks could impact UBER's future EPS?

Uber's future EPS could be impacted by several risks, including:

1. **Regulatory Changes and Legal Settlements**: Uber faces potential regulatory changes in key markets, such as New York City, which could affect its cost structure and operational flexibility. Additionally, the company has incurred losses due to legal settlements and equity investments, which could fluctuate and affect EPS.
2. **Autonomous Vehicle Competition**: The emergence of autonomous vehicle technology presents new regulatory considerations and could disrupt Uber's business model. Competitors like Tesla are pivoting to building robotaxis, which could impact Uber's market position and profitability.
3. **Market Competition and Slowdown in Revenue Growth**: Uber has faced increased competition, which could lead to a slowdown in revenue growth and a decline in adjusted EBITDA. This trend could continue if Uber is unable to maintain its market share and pricing power.
4. **Investment in New Growth Engines**: Uber is investing in new growth engines, such as advertising within its app, which could lead to increased revenue. However, these investments may temporarily impact EPS as they are ramped up.
5. **Credit Rating and Financial Discipline**: Uber's credit rating has been upgraded due to improvements in credit metrics and free operating cash flow. However, the company's gross leverage target of 2x could limit its ability to deploy capital for future growth or shareholder returns, potentially impacting EPS.

In conclusion, Uber's future EPS is subject to various risks, including regulatory and legal challenges, competition from autonomous vehicles, market dynamics, investment in new growth engines, and credit constraints. These factors could lead to fluctuations in EPS, making it important for investors to monitor these risk factors.