Consumer Discretionary

SOUTHWEST AIRLINES REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS

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SOUTHWEST AIRLINES REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS PR Newswire DALLAS, Jan. 25, 2024 DALLAS, Jan. 25, 2024 /PRNewswire/ — Southwest Airlines Co. (NYSE: LUV) (the “Company”) today reported its fourth quarter and full year 2023 financial results: — Fourth quarter net loss of $219 million, or $0.37 loss per diluted share — Fourth quarter net income, excluding special items1, of $233 million, or $0.37 per diluted share — Full year net income of $498 million, or $0.81 per diluted share — Full year net income, excluding special items1, of $986 million, or $1.57 per diluted share — Record fourth quarter and full year operating revenues of $6.8 billion and $26.1 billion, respectively — Liquidity2 of $12.5 billion, well in excess of debt outstanding of $8.0 billion Bob Jordan, President and Chief Executive Officer, stated, “2023 was a year of significant progress. We finished the year a much […]

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Southwest Airlines Keeps MAX Plans Steady

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Southwest Airlines ‘s Boeing 737 fleet plan is one of the most fluid and reliable guides to MAX output, so notable the 79 it expects this year is only six shy of the contracted level, and its flying in 2024 excludes the uncertified MAX 7. Southwest and United are the two biggest expected recipients of the MAX this year. Boeing has told analysts that the FAA has cleared its monthly production plan of 38, and together with ones in inventory, that should be enough to move it close to the 550 deliveries this year forecast by analysts.

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Tesla Bull Rues ‘Train Wreck’ Earnings Call, Slashes Price Target By 10%: ‘Dead Wrong Expecting Musk And Team To Step Up Like Adults In The Room’

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Tesla, Inc. (NASDAQ:TSLA) uber-bulls appear to be throwing in the towel, with two of them tempering their expectations for the electric-vehicle giant in the wake of a double miss in the fourth quarter. A Shaky 2024 Ahead: Wedbush analyst Daniel Ives expressed disappointment with the earnings call. “We were dead wrong expecting [Elon] Musk and team to step up like adults in the room on the call and give a strategic and financial overview of the ongoing price cuts, margin structure, and fluctuating demand,” he said. “Instead, we got a high-level Tesla long-term view with another train wreck conference call.” Musk was much more cautious and chose to steer the discussion around production, next-gen vehicle timelines, and FSD/investments, the analyst said. The much larger Tesla story gleaned from the call was the 2024 unit growth likely coming in notably lower, and a lack of guidance on margins/expense structure. Ives, however, is optimistic about the

Tesla Bull Rues ‘Train Wreck’ Earnings Call, Slashes Price Target By 10%: ‘Dead Wrong Expecting Musk And Team To Step Up Like Adults In The Room’ Read Post »

Netflix Eyes EMEA for Revenue Growth as Shares Soar Following Upbeat Fourth Quarter

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Netflix (NFLX) sees the Europe, Middle East, and Africa region as a lynchpin for ongoing revenue expansion, with the streaming service expressing that view as its shares soared on a robust fourth-quarter revenue performance. Efforts to boost paid-sharing accounts bolstered sign-ups, Chief Financial Officer Spencer Neumann said on the company’s conference call, according to a Capital IQ transcript. Netflix added 5.05 million paid subscribers in EMEA during the fourth quarter, higher than in other regions. Revenue in the region jumped almost 19% to $2.78 billion in the quarter and was up 13% on a currency-neutral basis, Neumann said. “It starts with great slate performance,” Neumann said. He cited shows like the UK royal family drama ‘The Crown,’ French thriller ‘Lupin’ and Polish comedy ‘1670’. “I’ll say, very importantly, it’s not just net adds,” he added. “Our primary focus is on revenue growth. We had very strong revenue growth as a

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Netflix Q4 Results Outperform Bullish Expectations, Morgan Stanley Says; Price Target Raised

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Netflix’s (NFLX) Q4 results and projections for 2024 indicate the entertainment and streaming company is “outperforming our more bullish expectations,” Morgan Stanley said Wednesday in a report. The company added 13.1 million new subscribers in Q4, showcasing a healthy growth runway Morgan Stanley said. Morgan Stanley expects Netflix to increase its free cash flow by 60% from 2024 to 2026. The company will continue to benefit from net additions from paid sharing in the next few quarters, and in the long term, paid sharing will expand Netflix’s total addressable market by 20%, the report said. Advertising and gaming revenue probably won’t contribute much to growth in 2024, Morgan Stanley said. Morgan Stanley raised Netflix’s share price target to $600 from $550 and reiterated the stock’s overweight rating. Netflix shares jumped 12% in recent Wednesday trading.

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Chipotle Mexican Grill, Inc. (NYSE: CMG) Stock Analyst Ratings

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Chipotle Mexican Grill, Inc. (NYSE: CMG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 15.8% Citigroup $2292 → $2699 Maintains Buy 01/22/2024 13.7% Baird → $2650 Reiterates Outperform → Outperform 01/16/2024 -4.49% Piper Sandler $1930 → $2226 Maintains Neutral 01/05/2024 8.34% Oppenheimer $2225 → $2525 Maintains Outperform 01/04/2024 5.12% Stifel $2100 → $2450 Maintains Buy 01/03/2024 -3.64% Barclays $1885 → $2246 Maintains Equal-Weight 01/02/2024 20.13% Stephens & Co. $2330 → $2800 Maintains Overweight 12/21/2023 2.97% Wedbush → $2400 Downgrades Outperform → Neutral 12/07/2023 5.12% Raymond James $2100 → $2450 Maintains Outperform 12/01/2023 4.04% RBC Capital $2185 → $2425 Maintains Outperform 10/27/2023 -5.61% TD Cowen → $2200 Reiterates Outperform → Outperform 10/27/2023 -11.19% Morgan Stanley $2010 → $2070 Maintains Equal-Weight 10/27/2023 -0.03% Stephens & Co. → $2330 Reiterates Overweight → Overweight 10/27/2023 -3.46% Keybanc $2200 → $2250 Maintains Overweight 10/24/2023 -2.18% Truist

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General Motors (NYSE:GM) Stock Analyst Ratings

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General Motors (NYSE:GM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 26.58% Barclays $37 → $44 Maintains Overweight 01/24/2024 15.07% Redburn Atlantic → $40 Initiates Coverage On → Neutral 01/04/2024 — Wolfe Research Upgrades Peer Perform → Outperform 12/04/2023 173.3% Citigroup $90 → $95 Maintains Buy 12/04/2023 18.81% HSBC → $41.3 Initiates Coverage On → Buy 12/04/2023 20.83% Mizuho $38 → $42 Upgrades Neutral → Buy 12/01/2023 55.35% RBC Capital $48 → $54 Maintains Outperform 11/30/2023 15.07% Wedbush $46 → $40 Maintains Outperform 11/30/2023 -22.32% Wells Fargo $25 → $27 Maintains Underweight 11/01/2023 6.44% Barclays → $37 Upgrades Equal-Weight → Overweight 10/27/2023 15.07% Morgan Stanley $41 → $40 Maintains Overweight 10/25/2023 9.32% Mizuho $40 → $38 Maintains Neutral 10/25/2023 38.09% RBC Capital $47 → $48 Maintains Outperform 10/25/2023 6.44% Barclays $42 → $37 Maintains Equal-Weight 10/25/2023 72.61% Benchmark → $60 Reiterates

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Tesla Q4 2023 Adj EPS $0.71 Misses $0.74 Estimate, Sales $25.17B Miss $25.62B Estimate

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Tesla (NASDAQ:TSLA) reported quarterly earnings of $0.71 per share which missed the analyst consensus estimate of $0.74 by 4.05 percent. The company reported quarterly sales of $25.17 billion which missed the analyst consensus estimate of $25.62 billion by 1.75 percent. This is a 3.49 percent increase over sales of $24.32 billion the same period last year.

Tesla Q4 2023 Adj EPS $0.71 Misses $0.74 Estimate, Sales $25.17B Miss $25.62B Estimate Read Post »

Tesla Expects Volume Growth To Stall Amid ‘Next Generation’ Pivot

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Tesla is expecting its vehicle sales to take a hit as it focuses on scaling up its next-generation platform. The EV giant says with 4Q results that it expects “notably lower” car-sales volume growth in 2024. The company is looking to bring its next generation platform to market as soon as possible. The company is looking to start production with the platform at its Gigafactory Texas and expects the platform to “revolutionize how vehicles are manufactured.”

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Tesla’s Price Cuts Hit Margins Again, Despite Lower Costs

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Tesla’s margins are deflating after the company slashed prices. The company says its operating income fell in the fourth quarter, partly due to lower average selling price for its vehicles. That offsets a benefit from lower cost per vehicle. Still, the price-cuts, meant to boost demand, had some impact, with the Tesla Model Y sales surging in 2023.

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