Consumer Discretionary

NIKE, INC (NYSE:NKE) Q3 2023 revenue, earnings results beats Analysts forecast

/ / Consumer Discretionary /

Mar. 21, 2023 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its third quarter ended February 28, 2023. Analyst Forecast NIKE, Inc. (NYSE:NKE)  reported fiscal Q3 earnings  of $0.79 per diluted share, down from $0.87 a year earlier. Analysts polled by Capital IQ forecast $0.54. Revenue for the quarter ended Feb. 28 was $12.39 billion, up from $10.87 billion a year earlier. Analysts polled by Capital IQ projected $11.48 billion. Financian Third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year. NIKE Direct sales were $5.3 billion, up 17 percent on a reported basis NIKE Brand Digital sales increased 20 percent on a reported basis, Gross margin decreased 330 basis points to 43.3 percent, primarily due to higher markdowns to liquidate inventory; Net income was $1.2 billion, down 11 percent compared to prior year, and Diluted earnings per share was $0.79, decreasing 9 percent. Inventories for NIKE, Inc. were $8.9

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Southwest Airlines (NYSE:LUV) Expecting Q1 2023 Net Loss, Narrows Revenue Outlook

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Southwest Airlines Co. (NYSE:LUV) said in a regulatory filing Tuesday it continues to expect a net loss, ‘excluding special items,’ in Q1, and has narrowed its operating revenue outlook to be up 21% to 23% from the previously expected outlook of an increase of 20% to 24%. Southwest Airlines said in its 8-K filing with the Securities and Exchange Commission ahead of it’s investor presentation that it is still expecting a Q1 negative revenue impact of $300 million to $350 million. The airline said, however, it continues to expect a profit for full year of 2023, also ‘excluding special items.’ And it said for Q2, bookings are expected to be in line with expectations.

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Oppenheimer Maintains Netflix (NASDAQ:NFLX) Outperform rating with a $415 price target

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Oppenheimer analyst Jason Helfstein noted that Netflix (NASDAQ:NFLX) shares are down 22 percent from their highs since the fourth quarter of last year, as the stock is now at an attractive level due to concerns about higher churn and slower ad placement due to password sharing. Netflix’s engagement trend in the first quarter was weaker than in the previous two quarters, but in line with the average of its first six quarters, the analyst said. The company believes that account sharing will generate “meaningful growth” in EBITDA and said competitors are more focused on profitability, indicating that it has passed the peak of competition. The analyst sees an opportunity for Netflix shares after a period of weakness and maintains an outperform rating on the stock with a $415 price target.

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