McDonald’s Earnings Are Coming. Inflation May Not Be a Big Issue. — Barrons.com

/ / Consumer Discretionary /

McDonald’s is set to report first-quarter earnings on Tuesday before the market opens. Despite the struggles of the fast-food industry, the Big Mac maker is likely to hold up better. Analysts polled by FactSet expect McDonald’s to post $2.72 per share earnings and $6.16 billion in sales for the first three months of 2024, marking a 3.4% and 4.4% growth from the same quarter a year ago, respectively. Inflation has taken a toll on consumer spending. Lower-income households, the primary customers of fast-food chains, are squeezed particularly hard, especially after food-stamp assistance was cut and student loan payments resumed last year. McDonald’s raised prices by 10% last year. Management noted that lower-income consumers have visited its stores less frequently and are spending less when they do. Meanwhile, price gains at grocery stores have slowed down this year. “Some of those consumers are just choosing to eat at home more often,” […]

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Coca-Cola’s Earnings Growth Is Slowing. Its Results Are Due Tuesday. — Barrons.com

/ / Consumer Staples /

By Evie Liu Challenges are mounting for Coca- Cola, so Wall Street analysts have penciled in slower profit growth as they await its quarterly earnings, due before the market opens on Tuesday. The consensus call among analysts tracked by FactSet is that the soft–drink company will report earnings of 70 cents a share from $11 billion in sales for the first three months of 2024. That would amount to growth of 3% from a year earlier for profit and a gain of 0.4% for sales, compared with respective increases of 9% and 7% in the previous quarter. As inflation has lifted Coca-Cola’s expenses over the past two years, the company has managed to pass most of those costs on to consumers without losing much business. In 2023, sales volume increased 2% from 2022, even as the company increased prices by 10%. As inflation cools down, however, higher pricing will become

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CFRA Keeps Hold Opinion On Shares Of Franklin Resources, Inc.

/ / Financials /

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 $5 to $25, valuing BEN shares at 8.7x our FY 26 (Sep.) adjusted EPS estimate of $2.87 and 9.4x our FY 25 EPS estimate of $2.65, versus the three-year average forward multiple of 9.8x and a peer average of 12.1x. We cut our FY 24 EPS estimate by $0.10 to $2.40. Mar-Q EPS of $0.56 versus $0.65, was comparable to our $0.60 EPS estimate and the $0.57 consensus view, on 12% higher revenues (aided by the Putnam acquisition), offset by a 370-basis point operating margin contraction (to 25.2%) on a 21% rise in operating expenses. Assets under management rose 16% year-over-year to $1.64T, and fund flows improved (to $2.1B of inflows versus outflows of $8B a year ago), though core equities

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Tesla’s FSD Nod Win Seen As Move To ‘Smooth Over Chinese EV’s Entry Into The US Market’ Says Redditor

/ / Consumer Discretionary /

Tesla Inc.’s (NASDAQ:TSLA) recent achievement in passing a significant milestone for its full self-driving (FSD) technology in China sparked discussions among investors and enthusiasts. The news, which caused Tesla’s share price to spike more than 15% on Monday, comes as the electric car maker continues to navigate the competitive Chinese market. Strategic Win For Tesla The breakthrough in China raises expectations that Tesla’s FSD technology will soon be available in the country. China is Tesla’s largest market for electric vehicles. Investors see this move as a strategic win for Tesla. Especially since it comes at a time when it is facing stiff competition from local rivals such as BYD Co Ltd (OTCPK:BYDDF) (OTCPK:BYDDY), Nio Inc – ADR (NYSE:NIO), and Xpeng Inc – ADR (NYSE:XPEV). However, some investors remain cautious about the impact of this development on Tesla’s stock. May Not Be The Catalyst To Drive Further Gains, Says Redditor The Redditor known as Puginator posted on r/stocks, sharing his

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CFRA Maintains Hold Opinion On Shares Of Intel Corporation

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target to $35 from $45, on P/E of 16x our ’25 EPS view, below peers to reflect lackluster AI prospects. We cut our ’24 EPS to $1.07 from $1.45 and ’25 to $2.20 from $2.40. INTC posts Q1 2024 EPS of $0.18 vs. -$0.04, beating the $0.14 consensus. Revenue rose 9%, slightly below consensus, as 31% growth in Client Computing and 5% boost in Data Center and AI was partly offset by declines across all other segments (Foundry -10%). Q2 guide was a disappointment in terms of both revenue ($13B vs. $13.6B consensus) and gross margin (43.5% vs. 45.4% view), but cites a stronger ramp in the 2H. We find INTC’s inability to gain momentum disturbing despite strong cloud customer spend, while its

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Exxon Mobil Announces First-Quarter 2024 Results

/ / Energy /

ExxonMobil Announces First-Quarter 2024 Results — Generated strong first-quarter earnings of $8.2 billion and $14.7 billion of cash flow from operating activities — Achieved quarterly gross production of more than 600,000 oil-equivalent barrels per day in Guyana and reached a final investment decision on the sixth major development — Grew performance chemical sales volumes and delivered record first-quarter refining throughput1 while maintaining excellent turnaround performance — Reduced operated methane emissions intensity by more than 60% since 20162 — Investing in technology to extend our reach to new high-value, high-growth markets including advanced recycling, ProxximaTM, carbon materials and direct air capture of carbon dioxide SPRING, Texas–(BUSINESS WIRE)–April 26, 2024– Exxon Mobil Corporation (NYSE:XOM): Results Summary Change Change Dollars in millions (except vs vs per share data) 1Q24 4Q23 4Q23 1Q23 1Q23 Earnings (U.S. GAAP) 8,220 7,630 +590 11,430 -3,210 Earnings Excluding Identified Items (non-GAAP) 8,220 9,963 -1,743 11,618 -3,398 Earnings Per

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Phillips 66 Reports 1Q 2024 Financial Results, Highlights Strategic Priorities Progress

/ / Energy /

Phillips 66 Reports 1Q 2024 Financial Results, Highlights Strategic Priorities Progress First-Quarter Results — First-quarter earnings of $748 million or $1.73 per share; adjusted earnings of $822 million or $1.90 per share — $1.6 billion returned to shareholders through dividends and share repurchases — Refining operated at 92% crude utilization — Recently announced 10% increase to the quarterly dividend to $1.15 per common share — Earned industry recognition for 2023 exemplary safety performance in Midstream, Refining and Chemicals Strategic Priorities Highlights — Returned $9.9 billion to shareholders through dividends and share repurchases since July 2022 — On track to achieve $1.4 billion of business transformation cost and sustaining capital savings by year-end 2024 — Launched process to divest retail marketing assets in Germany and Austria — Commenced operations at Rodeo Renewable Energy Complex HOUSTON–(BUSINESS WIRE)–April 26, 2024– Phillips 66 (NYSE: PSX), a leading diversified and integrated downstream energy company, announced

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Exxon Mobil Q1 Non-GAAP Earnings, Revenue Decline — Shares Ease Pre-Bell

/ / Energy /

Exxon Mobil (XOM) reported Q1 non-GAAP earnings Friday of $2.06 per common share, down from $2.83 a year earlier. Analysts polled by Capital IQ expected $2.18. Revenue for the quarter ended March 31 was $83.08 billion, down from $86.56 billion a year earlier. Analysts surveyed by Capital IQ expected $81.51 billion. Shares of the oil and energy giant fell 0.8% in recent Friday premarket activity.

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Alphabet Showed Perfection, and That Could Drive the Stock’s Best Day in 9 Years

/ / Technology /

By Emily Bary Google parent puts ‘doomsday AI search share-loss fears’ to bed with latest earnings report Alphabet Inc.’s stock could see its second-best single-day performance in history on Friday, following an earnings report that drew effusive praise from analysts. Simply put, the company was “perfect,” in the view of Bernstein analyst Mark Shmulik. The Google parent company faced an interesting setup headed into the report. On one hand, its shares were near all-time highs. But at the same time, Alphabet (GOOG) (GOOGL) has spent the past year and a half drawing investor doubts over factors like its artificial-intelligence positioning and the future of its core search business in a world where AI queries come to dominate, wrote Shmulik, who has a market-perform rating on the stock. See also: Alphabet’s stock surges on first-ever cash dividend, $70 billion stock buyback, strong results He noted that the company’s results were buoyed

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Intel (INTC.US) Q1 2024 Earnings Conference

/ / Technology /

The following is a summary of the Intel Corporation (INTC) Q1 2024 Earnings Call Transcript: Financial Performance: Intel reported a Q1 revenue of $12.7 billion, with a YoY growth of 9%. The quarter witnessed a gross margin of 45.1%, surpassing the guidance by 60 basis points. The company’s EPS stood at $0.18 for the quarter, exceeding the guidance by $0.05. Operating cash flow was recorded as negative $1.2 billion. The company anticipates stronger sequential revenue growth throughout the year and into 2025. Intel predicts peaking of costs in 2024, with revenue improvements in Q3 and Q4 that will help lift gross margins in the second half. The company projects better gross margin rates in 2025 than in 2024, targeting mid-50s margins midway between now and 2030, with an ultimate aim of 60%. Business Progress: Intel announced Microsoft as its fifth Intel 18A customer, with another meaningful customer signed on. Intel

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Southwest Airlines(LUV.US) Q1 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Southwest Airlines Co. (LUV) Q1 2024 Earnings Call Transcript: Financial Performance: Southwest Airlines achieved record first quarter operating revenues and passengers, continuing their trend of eight consecutive quarters of growth. Despite setbacks from Boeing’s delivery delays, managed business revenues increased by 25% YoY. To manage potential cost increases, the company trimmed its 2024 capital spending forecast from $3.5 billion – $4 billion to $2.5 billion. For Q2 2024, Southwest projects a record revenue performance, marking it the ninth consecutive quarter of top line growth. Ancillary revenue rose by 18% YoY in Q1, outpacing the company’s passenger growth. Business Progress: Southwest opened 18 new cities during the pandemic and restored its network quickly after the 2022 demand surge. However, adjustments are being made to enhance profits, including network optimizations, underperforming market adjustments, revenue performance improvements through marketing and revenue management, and efficiency initiatives. Additional

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Microsoft (MSFT) Q3 2024 Earnings Call Transcript

/ / Technology /

The following is a summary of the Microsoft Corporation (MSFT) Q3 2024 Earnings Call Transcript: Financial Performance: Microsoft reported $61.9 billion in revenue for Q3, a 17% increase from previous year’s period. They posted strong earnings per share of $2.94, a 20% increase year-over-year. Revenue gains were largely driven by Azure commitments, resulting in commercial bookings increasing 29% and 31% in constant currency. Microsoft’s cloud business recorded a revenue of $35.1 billion, growing at 23%, with gross margin percentage decreasing slightly to 72%. Operating expenses grew by 10%, with operating income increasing by 23%, and operating margins rising approximately 2 points year-over-year to 45%. Business Progress: Over 65% of Fortune 500 companies are now using Azure’s OpenAI service, indicating a growing business user base. Microsoft’s Copilot system is gaining traction, with plans to create Copilot-like scenarios in every business system to enhance enterprise-wide efficiency. Diablo IV’s integration into Game Pass

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