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.

General Motors’ Q1 Adjusted Earnings, Revenue Increase Read Post »

Fiserv Reports First Quarter 2024 Results

/ / Industrials /

Fiserv Reports First Quarter 2024 Results GAAP revenue growth of 7% and organic revenue growth of 20%; GAAP EPS increased 39% and adjusted EPS increased 19%; Company affirms 2024 organic revenue growth outlook of 15% to 17% and raises adjusted EPS outlook to $8.60 to $8.75 MILWAUKEEMILWAUKEE–(BUSINESS WIRE)–April 23, 2024– Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the first quarter of 2024. First Quarter 2024 GAAP Results GAAP revenue for the company increased 7% to $4.88 billion in the first quarter of 2024 compared to the prior year period, with 13% growth in the Merchant Solutions segment and 3% growth in the Financial Solutions segment. GAAP earnings per share was $1.24 in the first quarter of 2024, an increase of 39% compared to the prior year period. GAAP operating margin was 24.2% in the first quarter of

Fiserv Reports First Quarter 2024 Results Read Post »

CFRA Reiterates Buy Opinion On Shares Of Pepsico, Inc.

/ / Consumer Staples /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain a 12-month target of $200, based on a 2025 P/E of 22.2x, a discount to its 5-year mean forward P/E of 24.5x. We raise our adjusted EPS estimates by $0.10 to $8.25 for 2024 and by $0.10 to $9.00 for 2025. PEP posts Q1 adjusted EPS of $1.61 vs. $1.50 (+7%), nine cents ahead of consensus. The beat was driven by a stronger-than-expected top line, as net revenue rose 2.2% to $18.25B ($150M above consensus) driven by higher prices, as volume fell 0.5% for Convenient Foods and was flat for Beverages. Notably, volumes were higher across both product types across the Europe, Asia, and Africa markets, helping offset weakness in North America. Gross margin contracted 40 bps to 54.8% (60 bps below consensus). PEP maintained

CFRA Reiterates Buy Opinion On Shares Of Pepsico, Inc. Read Post »

Lockheed Martin Q1 2024 GAAP EPS $6.39 Beats $5.79 Estimate, Sales $17.200B Beat $15.992B Estimate

/ / Industrials /

Lockheed Martin (NYSE:LMT) reported quarterly earnings of $6.39 per share which beat the analyst consensus estimate of $5.79 by 10.36 percent. The company reported quarterly sales of $17.200 billion which beat the analyst consensus estimate of $15.992 billion by 7.56 percent. This is a 13.71 percent increase over sales of $15.126 billion the same period last year.

Lockheed Martin Q1 2024 GAAP EPS $6.39 Beats $5.79 Estimate, Sales $17.200B Beat $15.992B Estimate Read Post »

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

CFRA Maintains Hold Opinion On Shares Of General Motors Company Read Post »

PepsiCo(PEP) Q1 2024 Earnings Conference

/ / Consumer Staples /

The following is a summary of the PepsiCo, Inc. (PEP) Q1 2024 Earnings Call Transcript: Financial Performance: PepsiCo’s international business is currently valued at $36 billion, increasing at a high single-digit level, resulting in strong international profit results for the third consecutive quarter. Frito-Lay’s operating margins were slightly weak in Q1 due to growth investments, but are expected to improve over time as the company continues to invest in the business. Business Progress: PepsiCo continues to build scaled operations in Vietnam, China, India, Mexico, and Poland, signaling a substantial investment in international markets. The strategic decision to de-emphasize certain products in North America shows the company’s focus on increasing profitability. Partnership with CELSIUS shows PepsiCo’s diversification into the energy drink sector, reflecting an innovative approach to market expansion. PepsiCo remains committed to maintaining market positions across various global regions through local food understanding, value-driven strategy, and innovative commercial propositions. PepsiCo

PepsiCo(PEP) Q1 2024 Earnings Conference Read Post »

Pepsico 1Q Revenue Beats Analyssts’ Estmates

/ / Consumer Staples /

PepsiCo is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. PepsiCo earnings and sales jumped last quarter, as higher prices offset a drop in volumes. Sales were up 2.3% at $18.25 billion, clearing analysts’ projections. Volumes dropped 2% on an organic basis, largely driven by a slowdown in beverages, plus a subsidiary’s voluntary recall of certain granola bars and cereals. Revenue rose to $18.25 billion from $17.85 billion a year earlier, topping analysts’ forecasts for $18.08 billion, according to FactSet. Dow Jones & Co. owns Factiva.

Pepsico 1Q Revenue Beats Analyssts’ Estmates Read Post »

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

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

CFRA Cuts View On Shares Of Rtx Corporation To Hold From Buy

/ / Industrials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our downgrade is on valuation, with shares up 21% year-to-date, well above the 7% average gain for the group. Our 12-month target price of $104, up $5, reflects a 17x multiple of projected 2025 EPS, slightly above RTX’s historical forward average, but merited by a strong medium-term outlook for commercial aircraft. We keep our 2024 EPS estimate at $5.39, but lift 2025’s by $0.02 to $6.14. Q1 adj. EPS of $1.34 vs. $1.22 beat consensus by $0.11. Backlog at March 31 was $202B, up 12% Y/Y. RTX reaffirmed 2024 guidance (EPS of $5.25-$5.40), but some of the concerns from the Q4 update persist, notably on materials sourcing and supply chain. We think RTX is at peak in addressing the powdered metal issue on its GTF engines and

CFRA Cuts View On Shares Of Rtx Corporation To Hold From Buy Read Post »

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

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

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

Spotify Stock Jumps After Earnings Top Expectations — WSJ Read Post »

Spotify Technology(SPOT) Q1 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Spotify Technology S.A. (SPOT) Q1 2024 Earnings Call Transcript: Financial Performance: Spotify’s Q1 revenue increased by 21% year-on-year to EUR3.6 billion on a constant currency basis. Q1 saw a record gross margin of 27.6%, surpassing predictions by 121 basis points. Q1’s operating income reached a new record of EUR168 million, thanks to a strong gross profit and lower operational expenses. Spotify had positive free cash flow, reaching EUR207 million. Revenue for Q2 is anticipated to increase by over 22% year-on-year, potentially reaching the EUR3.8 billion mark. 20% of the revenue growth was contributed by the premium product service, due in part to price increases. Gross margin expanded significantly in this quarter, with music improvements being the significant driver alongside the growth of the marketplace business. Business Progress: Q1 experienced slower user growth due to workforce reduction impact, slower start of the year, and

Spotify Technology(SPOT) Q1 2024 Earnings Conference Read Post »

Scroll to Top