Eli Lilly and Co (NYSE:LLY) Q4 2023 Earnings Conference

/ / Health Care /

The following is a summary of the Eli Lilly and Co (LLY) Q4 2023 Earnings Conference Call Transcript: Financial Performance: Eli Lilly’s revenue grew 20% for the full year and 28% for Q4 in 2023; new products contributed over $2 billion growth. Distributed over $1 billion in dividends in Q4, announced a 15% dividend increase for the sixth consecutive year. Q4 revenue increased by 28% compared to Q4 2022 due to acceleration in revenue growth powered by Mounjaro, Verzenio, Jardiance, and Zepbound. Gross margin as a percentage of revenue grew to 82.3% on account of higher realized prices. Operating income rose by 29%, driven by higher revenue from new launches. Earnings per share for Q4 were $2.49, a 19% increase from Q4 2022. U.S. revenue was up by 39% in Q4 owing to the strong performance of Mounjaro, Verzenio, and Zepbound. Q4 revenue for Europe was up by 11%, 15% […]

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CVS Health Earnings Are Soon. The Focus Will Be on the Future of the Medicare Advantage Business. — Barrons.com

/ / Health Care /

By Josh Nathan-Kazis CVS Health’s quarterly earnings report Wednesday morning will shed light on whether the earthquake that has shaken the Medicare Advantage business this earnings season will rattle CVS, too. An unexpectedly high level of utilization of medical services by U.S. seniors in November and December of 2023 led to a spike in medical costs for Humana and UnitedHealth Group, those companies reported in January. Humana and UnitedHealth, along with CVS, are major players in the Medicare Advantage business, which offers privately-managed, government-funded health plans to U.S. seniors. The higher costs are raising worries about the Medicare Advantage business, which all three of the companies have dedicated extensive resources to serving. Humana shares have slid about 20% this year, while UnitedHealth shares are down 3.1%. Adding to the anxiety around Medicare Advantage’s future profitability was Humana’s report that the Centers for Medicare and Medicaid Services’ proposed payment rates for

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Chipotle Mexican Grill(NYSE: CMG) Assessing Further Price Increases

/ / Consumer Discretionary /

Chipotle Mexican Grill expects to increase prices again this year, but how much to compensate for higher wages in California remains the wild card. The burrito chain says on a 4Q call that it expects prices to be 2.5% to 3% higher in its current 1Q, but hasn’t decided on the rest of the year. Chipotle says around 15% of its restaurants are in California, where fast-food wages for chains will rise to at least $20 an hour in April.

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Chipotle Mexican Grill(NYSE: CMG) Q4 2023 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Chipotle Mexican Grill, Inc. (NYSE: CMG) Q4 2023 Earnings Call Transcript: Financial Performance: 2023 annual sales grew by 14% to $9.9 billion and fourth quarter sales grew 15% to $2.5 billion, both driven by strong comp growth. Digital sales represented 37% of all sales for the full year and 36% for Q4. Restaurant level margin improved, reaching 26.2% for the full year and 25.4% for Q4. Adjusted diluted EPS was $44.86 for the full year, a 37% growth over last year. The company ended the year with a robust balance sheet holding $1.9 billion in cash and investments, and no debt. Chipotle forecasts mid-single digit comp growth for fiscal 2024 and a lower cost of sales in Q1 2024. Business Progress: Successfully opened a record 271 new restaurants in 2023, including 238 featuring Chipotlane concept. Continues to focus on five key strategies: people

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Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings

/ / Consumer Discretionary /

Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/06/2024 13.67% Keybanc $70 → $79 Maintains Overweight 01/30/2024 5.04% B of A Securities $68 → $73 Maintains Buy 01/26/2024 -2.16% Truist Securities $58 → $68 Maintains Buy 01/24/2024 -5.04% Gordon Haskett → $66 Downgrades Buy → Hold 01/22/2024 2.16% Needham $63 → $71 Maintains Buy 01/17/2024 10.79% Mizuho $63 → $77 Maintains Buy 01/16/2024 -9.35% Needham → $63 Reiterates Buy → Buy 01/12/2024 12.23% Goldman Sachs $59 → $78 Maintains Buy 01/11/2024 12.23% Goldman Sachs $59 → $78 Maintains Buy 01/09/2024 -0.72% BMO Capital → $69 Initiates Coverage On → Outperform 12/29/2023 -10.79% Nomura $59 → $62 Downgrades Buy → Neutral 12/19/2023 0.72% Keybanc $61 → $70 Maintains Overweight 12/04/2023 7.91% Oppenheimer $65 → $75 Maintains Outperform 12/01/2023 -10.79% JMP Securities → $62 Reiterates Market Outperform → Market Outperform

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Estee Lauder (NYSE:EL) Stock Analyst Ratings

/ / Consumer Discretionary /

Estee Lauder (NYSE:EL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/06/2024 3.33% Telsey Advisory Group $115 → $155 Maintains Market Perform 01/18/2024 -0.01% JP Morgan $118 → $150 Maintains Overweight 01/16/2024 -19.34% Barclays $101 → $121 Maintains Equal-Weight 11/29/2023 8.66% DA Davidson $146 → $163 Maintains Buy 11/28/2023 19.99% HSBC → $180 Initiates Coverage On → Buy 11/08/2023 -20.01% TD Cowen → $120 Downgrades Outperform → Market Perform 11/03/2023 -21.34% Berenberg $224 → $118 Downgrades Buy → Hold 11/02/2023 -2.67% DA Davidson $185 → $146 Maintains Buy 11/02/2023 -21.34% JP Morgan $173 → $118 Maintains Overweight 11/02/2023 -10.67% Morgan Stanley $200 → $134 Maintains Overweight 11/02/2023 -6.01% Goldman Sachs $185 → $141 Maintains Buy 11/02/2023 -23.34% Telsey Advisory Group $210 → $115 Downgrades Outperform → Market Perform 11/02/2023 -23.34% RBC Capital $195 → $115 Downgrades Outperform → Sector Perform 10/26/2023 39.99%

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Costco Wholesale Corporation (NASDAQ:COST) Stock Analyst Ratings

/ / Consumer Discretionary /

Costco Wholesale Corporation (NASDAQ:COST) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/06/2024 5.04% Telsey Advisory Group $700 → $750 Maintains Outperform 02/02/2024 6.44% Oppenheimer $695 → $760 Maintains Outperform 01/05/2024 -2.66% Oppenheimer $675 → $695 Maintains Outperform 12/29/2023 4.34% Tigress Financial $635 → $745 Maintains Buy 12/21/2023 3.78% Truist Securities $693 → $741 Maintains Buy 12/20/2023 -13.17% Northcoast Research → $620 Downgrades Buy → Neutral 12/15/2023 -1.96% BMO Capital $612 → $700 Maintains Outperform 12/15/2023 -15.97% DA Davidson $570 → $600 Maintains Neutral 12/15/2023 -5.46% Stifel $615 → $675 Maintains Buy 12/15/2023 -11.76% Citigroup $585 → $630 Maintains Neutral 12/15/2023 1.54% UBS $640 → $725 Maintains Buy 12/15/2023 -5.46% Oppenheimer → $675 Reiterates Outperform → Outperform 12/15/2023 -6.16% Raymond James $580 → $670 Maintains Outperform 12/15/2023 -2.94% Truist Securities $619 → $693 Maintains Buy 12/15/2023 -1.96% Telsey Advisory Group $625 →

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Gartner (NYSE:IT) Reports Fourth Quarter 2023 Financial Results

/ / Technology /

Gartner Reports Fourth Quarter 2023 Financial Results Contract Value $4.8 billion, +8% YoY FX Neutral FOURTH QUARTER 2023 HIGHLIGHTS — Revenues: $1.6 billion, +5% as reported, +4% FX neutral. — Net income: $209 million, -19%; adjusted EBITDA: $386 million, -8% as reported, -9% FX neutral. — Diluted EPS: $2.64, -18%; adjusted EPS: $3.04, -18%. — Operating cash flow: $224 million, +10%; free cash flow: $196 million, +19%. FULL YEAR 2023 HIGHLIGHTS — Revenues: $5.9 billion, +8% as reported and FX neutral. — Net income: $882 million, +9%; adjusted EBITDA: $1.5 billion, +1% as reported, +2% FX neutral. — Diluted EPS: $11.08, +11%; adjusted EPS: $11.33, +1%. — Operating cash flow: $1.2 billion, +5%; free cash flow: $1.1 billion, +6%. — Repurchased 1.8 million common shares for $0.6 billion; 1% reduction in outstanding share count YoY. STAMFORD, Conn.–(BUSINESS WIRE)–February 06, 2024– Gartner, Inc. (NYSE: IT), today reported results for the fourth

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Gartner (NYSE:IT) Posts Lower 4Q Earnings, Hurt by Costs And Consulting Demand

/ / Technology /

By Will Feuer Gartner posted lower fourth-quarter earnings, hit by rising costs and a slowdown in the company’s consulting business. The research company, which also hosts information technology-focused conferences, posted a fourth-quarter profit of $209 million, or $2.64 a share, down from $257 million, or $3.21 a share, in the same period a year earlier. Stripping out one-time items, adjusted earnings were $3.04 a share. Analysts surveyed by FactSet expected $2.83 a share. Revenue rose 5% to $1.59 billion, matching analysts’ estimates, according to FactSet. Costs rose almost 10% to $1.28 billion. Research revenue rose about 6%, while revenue from conferences climbed 14%. Gartner’s consulting unit posted revenue of $128 million, down about 7%. Write to Will Feuer at Will.Feuer@wsj.com

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