Consumer Discretionary

CFRA Maintains Buy View On Shares Of Chipotle Mexican Grill, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $3,700 from $2,930, 66.0x our 2024 EPS, a premium to CMG’s five-year average forward P/E, reflecting CMG’s outsized growth relative to peers. We raise our 2024 EPS to $56.04 from $54.12 and 2025’s to $66.35 from $65.10. CMG posted Q1 adj-EPS of $13.37, $1.69 above consensus. Revenue of $2,702M (+14.1% Y/Y) was $31M above consensus. Operating income rose 20.0% Y/Y to $441M vs. the $412M consensus, with the margin widening 80 bps Y/Y to 16.3%. Comp sales rose 7.0% vs. the 5.3% consensus, driven by transactions growth (~5.5%) and higher menu pricing (~2.8%), partially offset by negative mix and check. CMG raised its 2024 comp sales guidance to the mid- to high-single-digit range as staffing, scheduling, and execution of its “four […]

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CFRA Reiterates Hold Opinion On Shares Of Southwest Airlines Co.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target by $2 to $28, 24.3x our 2025 EPS view of $1.15 (from $1.51; 2024’s to $0.79 from $1.05), below LUV’s historical average. We think a discount is merited due to ongoing issues with Boeing (BA 164 **), causing further delays in new aircraft deliveries (LUV expects 20 aircraft deliveries in 2024 vs. prior guide of 46), which could cause unit costs to rise, in our view. Q1 LPS of -$0.36 vs. LPS of -$0.27 missed consensus by $0.02. Revenues grew 11% Y/Y on 11% capacity growth. LUV revised its 2024 guide, with capacity now expected to grow by 4% (vs. prior 6%) due to delays in aircraft deliveries. LUV noted today that it plans to end operations at four airports (Hancock Int’l,

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Hilton Reports First Quarter Results

/ / Consumer Discretionary /

Hilton Reports First Quarter Results MCLEAN, Va.–(BUSINESS WIRE)–April 24, 2024– Hilton Worldwide Holdings Inc. (“Hilton,” “the Company,” “we,” “us” or “our”) (NYSE: HLT) today reported its first quarter 2024 results. Highlights include: This press release features multimedia. View the full release here: — Diluted EPS was $1.04 for the first quarter, and diluted EPS, adjusted for special items, was $1.53 — Net income was $268 million for the first quarter — Adjusted EBITDA was $750 million for the first quarter — System-wide comparable RevPAR increased 2.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2023 — Approved 29,800 new rooms for development during the first quarter, bringing Hilton’s development pipeline to a record 472,300 rooms as of March 31, 2024, representing growth of 10 percent from March 31, 2023 — Added 16,800 rooms to Hilton’s system in the first quarter, resulting in

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Tesla(TSLA) Q1 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Tesla, Inc. (TSLA) Q1 2024 Earnings Call Transcript: Financial Performance: Tesla experienced a seasonal decline in auto revenues with auto margins dipping from 18.9% to 18.5%. Negative free cash flow of $2.5 billion in Q1 2024 was seen due to an increased inventory and CapEx for AI compute. The Energy business set a new record with margins reaching 24.6% with forecasts of energy storage deployments growing at least 75% higher from 2023. Business Progress: Despite global pressures on the EV market, Tesla is investing in energy storage deployments and expects record profitability in the coming years. The production of new vehicle models has been expedited with production starting in 2025. Tesla’s AI-driven Full Self Driving (FSD) Version 12 is now on 1.8 million vehicles, with its subscription price reduced to $99 a month. The company’s core AI infrastructure is set to expand from

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Hilton Logs Higher 1Q Results, Lifts Adjusted Earnings Outlook

/ / Consumer Discretionary /

Hilton Worldwide recorded a higher profit and sales in the first quarter of the year and raised its adjusted earnings guidance for the rest of the year. The hotel operator posted a profit of $265 million, or $1.04 a share, compared with $206 million, or 77 cents a share, in the same quarter a year ago. Stripping out one-time items, adjusted earnings were $1.53 a share. Analysts polled by FactSet had been expecting $1.41 a share. Quarterly revenue rose to $2.57 billion from $2.29 billion last year, clearing analyst projections for $2.51 billion, according to FactSet. The strong results came despite renovations, inclement weather and unfavorable holiday shifts weighing on the company’s performance more heavily than anticipated, Chief Executive Christopher Nassetta said. Hilton shifted its earnings outlook for the year, saying it now expects a smaller profit but higher adjusted earnings per share. For 2024, the company is forecasting a

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General Motors Co. (NYSE: GM) Releases 2024 First-Quarter Results and Raises Full-Year Guidance

/ / Consumer Discretionary /

GM Releases 2024 First-Quarter Results and Raises Full-Year Guidance PR Newswire DETROIT, April 23, 2024 DETROIT, April 23, 2024 /PRNewswire/ — General Motors Co. (NYSE: GM) today reported first-quarter 2024 revenue of $43.0 billion, net income attributable to stockholders of $3.0 billion and EBIT-adjusted of $3.9 billion. GM is also updating its 2024 full-year earnings guidance: Updated 2024 Guidance Previous 2024 Guidance ————————- ————————- Net income attributable $10.1 billion – $11.5 $9.8 billion – $11.2 to stockholders billion billion EBIT-adjusted $12.5 billion – $14.5 $12.0 billion – $14.0 billion billion Automotive operating $18.3 billion – $21.3 $18.0 billion – $21.0 cash flow billion billion Adjusted automotive free $8.5 billion – $10.5 $8.0 billion – $10.0 cash flow billion billion EPS-diluted $8.94 – $9.94 $8.50 – $9.50 EPS-diluted-adjusted $9.00 – $10.00 $8.50 – $9.50 GM’s 2024 financial guidance includes anticipated capital spending of $10.5 billion – $11.5 billion, inclusive of investments

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General Motors’ Q1 Adjusted Earnings, Revenue Increase

/ / Consumer Discretionary /

General Motors (GM) reported Q1 adjusted earnings Tuesday of $2.62 per diluted share, up from $2.21 a year earlier. Analysts polled by Capital IQ expected $2.12. Revenue for the quarter ended March 31 was $43.01 billion compared with $39.99 billion a year earlier. Analysts polled by Capital IQ expected $41.82 billion. The company raised its full-year adjusted EPS outlook to between $9 and $10, from the previous range of $8.50 to $9.50. Analysts polled by Capital IQ expect $9.02.

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CFRA Maintains Hold Opinion On Shares Of General Motors Company

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $1 to $45, based on a ’25 P/E of 5.0x, a justified discount to historical averages. We increase our adjusted EPS estimates to $9.70 from $8.80 for ’24 and to $9.00 from $8.50 for ’25. GM posts Q1 adjusted EPS of $2.62 vs. $2.21 (+19%), well ahead of the $2.11 consensus. The beat was driven by a stronger-than-expected top line, as revenue rose 7.6% to $43.0B ($1.2B above consensus) on higher prices, partially offset by a 2.5% sales volume decline. GM increased 2024 adjusted EPS guidance to $9.00-$10.00 from $8.50-$9.50 (current consensus = $9.02). While the beat and raised guidance were positives, we remain at a Hold on GM, as we think the company could lose additional market share in the

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CFRA Keeps Hold Opinion On Shares Of Spotify Technology S.a.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target by $83 to $325 using a forward P/E of 67.0x our ’24 earnings estimate, below the five-year historic average of 78.0x. We increase our 2024 EPS estimate to €4.85 from €2.40 and 2025’s to €6.30 from €3.95. SPOT posted Q1 2024 EPS of €0.97, a €0.32 earnings beat, driven by 20% Y/Y revenue growth (revenue in line with consensus) and significantly wider gross margins (27.6% vs. 25.2%). In Q1, total subscribers were 615M (+19% Y/Y), with premium subs at 239M (+14%) and lower priced ad-supported subs at 388M (+22%). By geography, Europe was 38% of total subscribers, North America (27%), Latin America (22%), and rest of world (13%), with strong growth in family and duo plans. On a sequential basis, SPOT’s Q2 guidance

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Nike Needs a Win, and It’s Giving Caitlin Clark Over $20 Million to Deliver One

/ / Consumer Discretionary /

By Weston Blasi Some Nike athletes’ careers are ‘winding down,’ one expert said, and the company is looking to make a big splash with Clark’s meteoric rise Caitlin Clark is reportedly adding to the $76,535 starting salary she’ll make in the WNBA in a big way: with an eight-figure endorsement deal with Nike Inc. Clark’s endorsement deal with Nike (NKE) will be for eight years and be worth “up to $28 million,” according to the Wall Street Journal. It comes after an iconic run for Clark through the women’s March Madness that saw her star rise to a point where the women’s tournament final had more viewers than the men’s final for the first time. As part of the Nike deal, Clark would be getting a signature shoe, something almost unheard of for a basketball player who has yet to play in a professional game. In the basketball space, Nike

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Spotify Stock Jumps After Earnings Top Expectations — WSJ

/ / Consumer Discretionary /

By Anne Steele Spotify stock surged after the audio-streaming company swung to a first-quarter profit. Shares jumped over 14% to trade at around $312.90, putting the stock on track for its highest close since March 2021. Spotify is turning 18 this quarter and topping it off with showing we’re a consistently profitable company, Chief Executive Daniel Ek said in an interview. After years of rapid subscriber growth and efforts to expand beyond music streaming into broader audio offerings including podcasts and audiobooks, the company has been focused on controlling costs and prioritizing profitability. Spotify reported a quarterly profit of 197 million euros, or 97 euro cents a share, versus a prior-year loss of 225 million. Analysts had expected 62 euro cents a share, according to FactSet. Monthly active users grew 19% to 615 million, 3 million shy of Spotifys guidance, amid moderated marketing activity. Some other key highlights from Spotifys

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