Visa 2Q Revenue Climbs as Payments Volume Grows

/ / Industrials /

Visa said revenue climbed in the second quarter amid an increase in payments volume and stable consumer spending levels. The credit-card company on Tuesday posted a net profit of $4.66 billion, or $2.29 a share, in the three months ended March 31, with $4.26 billion, or $2.03 a share, for the same period a year earlier. Stripping out one-time items, earnings per share came in at $2.51. Analysts surveyed by FactSet had forecast adjusted earnings per share of $2.44. Revenue increased 9.9% to $8.78 billion, beating analysts’ expectations of $8.62 billion according to FactSet. Visa said payments volume rose 8% and its processed transactions climbed 11% in the period.

Visa 2Q Revenue Climbs as Payments Volume Grows Read Post »

MSCI Inc(MSCI) Q1 2024 Earnings Conference

/ / Financials /

The following is a summary of the MSCI Inc. (MSCI) Q1 2024 Earnings Call Transcript: Financial Performance: MSCI reported Q1 2024 revenue growth of 10%, adjusted EPS growth of 12%, and free cash flow growth of 14%. Asset-Based Fee (ABF) revenue saw a 13% increase due to record AUM balances in both ETFs and non-listed products linked to MSCI indices. Non-recurring sales were up by 16%, although changes in market volatility and interest rate expectations had a lingering impact on Q1 results. Revenue decline was partly due to fewer price increases within new subscription sales, offset slightly by increased cross-selling/upselling to existing clients. Business Progress: There was significant growth in analytics with high Q1 sales, particularly among hedge funds and asset owners. APAC and EMEA regions principally drove a 39% climate run-rate growth across product lines but ESG run-rate growth stabilized at 12% amid complications in the Americas. The acquisitions

MSCI Inc(MSCI) Q1 2024 Earnings Conference Read Post »

Visa Fiscal Q2 Non-GAAP EPS, Net Revenue Increase; Declares Dividend

/ / Industrials /

Visa (V) reported fiscal Q2 non-GAAP earnings late Tuesday of $2.51 per diluted share, up from $2.09 a year earlier. Analysts polled by Capital IQ expected $2.43. Net revenue for the quarter ended March 31 was $8.78 billion, up from $7.99 billion a year earlier. Analysts surveyed by Capital IQ expected $8.62 billion. The company’s board declared a quarterly dividend of $0.52, payable on June 3 to holders of record on May 17. Visa shares rose nearly 3% in after-hours trading.

Visa Fiscal Q2 Non-GAAP EPS, Net Revenue Increase; Declares Dividend Read Post »

Tesla Q1 Non-GAAP Earnings, Revenue Decline

/ / Consumer Discretionary /

Tesla (TSLA) reported Q1 non-GAAP earnings late Tuesday of $0.45 per diluted share, down from $0.85 a year earlier. Analysts surveyed by Capital IQ expected $0.50. Revenue for the quarter was $21.3 billion, down from $23.33 billion a year earlier. Analysts surveyed by Capital IQ expected $22.26 billion. Shares were up 5.3% in after-hours tradng.

Tesla Q1 Non-GAAP Earnings, Revenue Decline Read Post »

Boeing Earnings Are Coming. Brace for Turbulence. — Barrons.com

/ / Industrials /

Boeing earnings are coming Wednesday morning, before the market open. Investors have to pay attention to, well, everything. There is the obvious topic of production quality: Boeing stock has lost more than 30% since an emergency door plug blew off a 737 MAX 9 jet operated by Alaska Air on Jan. 5. The incident resulted in slower production, millions paid in compensation to airline customers, and more oversight by the Federal Aviation Administration. There is also the issue of management succession. In March, current CEO Dave Calhoun announced he would step down at the end of the year, without naming a successor. Jefferies analyst Sheila Kahyaoglu recently wrote about what she would do as a new Boeing CEO. One thing, she says, is to walk away from Boeing’s $10 billion annual free cash flow target by 2026. It creates unnecessary expectations, she wrote in an April 21 note: “External pressures

Boeing Earnings Are Coming. Brace for Turbulence. — Barrons.com Read Post »

Lockheed Martin(LMT) Q1 2024 Earnings Conference

/ / Industrials /

The following is a summary of the Lockheed Martin Corporation (LMT) Q1 2024 Earnings Call Transcript: Financial Performance: Lockheed Martin reported Q1 sales of $17.2 billion, a 14% Year over Year (YoY) increase. Operating profit stood at $1.7 billion while GAAP earnings per share were $6.39, each falling by 3% compared to the previous year. The company reported a hefty backlog of $159 billion. Lockheed generated $1.3 billion in free cash flow. Despite strong revenue growth in Q1, the company is cautious of potential losses exceeding $1 billion on a classified program, though this risk is accounted for in their guidance. Business Progress: Lockheed Martin’s ongoing projects and deliveries include the F-16 Block 70 jets, Air-launched Rapid Response Weapon (ARRW), and a novel homeland missile defense system (called the next-generation interceptor or NGI). The company has announced a partnership with Intel to support the simulated transition for Advanced Microelectronics Packaging.

Lockheed Martin(LMT) Q1 2024 Earnings Conference Read Post »

CFRA Maintains Buy Opinion On Shares Of Tesla 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 lower our 12-month target by $10 to $210, based on a 2025 P/E of 54.5x, justified by long-term growth expectations. We cut our adjusted EPS views by $0.20 to $2.55 for 2024 and by $0.15 to $3.85 for 2025. TSLA posted Q1 adjusted EPS of $0.45 vs. $0.85 (-47%), shy of the $0.50 consensus. Revenue fell 9% to $21.30B ($960M below consensus) and gross margin contracted 200 bps to 17.4% (90 bps above consensus). TSLA said Cybertruck production lifted to over 1K units/week in April and its earnings slides featured a preview of technologies in development, including a ride-hailing app, humanoid robot, AI computing, and full self-driving. TSLA also said it would accelerate the launch of new vehicle models ahead of its previously-communicated start of production.

CFRA Maintains Buy Opinion On Shares Of Tesla Inc. Read Post »

CFRA Keeps Hold Opinion On Shares Of Lockheed Martin Corporation

/ / 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 12-month target price of $457, up $17, reflects 16.5x our 2025 EPS estimate, in line with LMT’s historical forward average. We lift our 2024 EPS estimate by $0.21 to $26.29 and 2025’s by $0.57 to $27.72. Q1 EPS of $6.33 vs. $6.43 beat consensus by $0.47. We think supplemental spending, which has passed the House but has yet to pass the Senate, could be additive to overall Department of Defense spending, although probably not by much more than inflation. Q1 sales of $17.2B rose 5% year-over-year on a normalized basis. LMT reaffirmed 2024 revenue guidance in a range of $68.5B to $70.0B and EPS in a range of $25.65 to $26.35. The midpoints imply low-single-digit revenue growth accompanied by some margin compression because EPS is expected

CFRA Keeps Hold Opinion On Shares Of Lockheed Martin Corporation Read Post »

Tesla Accelerates Rollout of More-Affordable EVs as Profit Drops Sharply — WSJ

/ / Consumer Discretionary /

By Rebecca Elliott Tesla Chief Executive Elon Musk sought to assuage Wall Street’s concerns about the company’s strategic direction by underscoring the automaker’s commitment to making less-expensive electric cars. On the company’s Tuesday earnings call, Musk said Tesla was accelerating the launch of new models, including vehicles that sell at more-affordable prices. His comments cap a dismal start to the year for the world’s most-valuable automaker, which saw its first-quarter profit plunge to its lowest level since 2021. Tesla’s operating margin narrowed significantly, dropping to 5.5% in the first three months, from 11.4% a year earlier. Musk also emphasized the importance of Tesla’s achieving its longstanding — and thus far elusive — goal of developing an autonomous car. He shared new details about the company’s plans for a dedicated robotaxi model and ride-hailing network, saying Tesla would operate its own fleet and allow customers to deploy their vehicles for the

Tesla Accelerates Rollout of More-Affordable EVs as Profit Drops Sharply — WSJ Read Post »

Don’t Overweight the Megacap Tech Giants Like Nvidia and Apple, Says UBS

/ / Technology / ,

UBS downgrades what it calls the Big Six to neutral UBS cut its rating on what it calls the Big Six – that’s the Magnificent Seven minus struggling Tesla – to neutral from overweight. Strategists led by Jonathan Golub noted the grouping of Alphabet (GOOGL), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT) and Nvidia (NVDA) has already dropped 8% from its April peak, having soared 117% from its Jan. 2023 lows. Nvidia on Friday skidded 10% as AI stocks retreated. What’s of note is that the UBS call is not about animal spirits or AI. It’s just that earnings per share growth for this group is expected to slow to 16% from 42% The COVID-19 pandemic set off what it calls an asynchronous earnings cycle. Other tech stocks didn’t benefit from the COVID-driven boom to the same extent. “Deceleration in large cap tech and acceleration in mid cap

Don’t Overweight the Megacap Tech Giants Like Nvidia and Apple, Says UBS Read Post »

Verizon Begins 2024 With Strong Wireless Service Revenue Growth, Solid Cash Flow and Continued Momentum in Broadband

/ / Telecommunications /

Verizon begins 2024 with strong wireless service revenue growth, solid cash flow and continued momentum in broadband First quarter performance positions Verizon for growth and profitability throughout 2024 1Q 2024 Highlights Consolidated: — Earnings per share of $1.09, compared with earnings per share of $1.17 in first-quarter 2023; adjusted EPS1, excluding special items, of $1.15, compared with $1.20 in first-quarter 2023. — Total operating revenue of $33.0 billion, up 0.2 percent from first-quarter 2023. — Consolidated net income for the first quarter of $4.7 billion, compared to consolidated net income of $5.0 billion in first-quarter 2023, and consolidated adjusted EBITDA1 of $12.1 billion, up from $11.9 billion in first-quarter 2023. Total Wireless: — Total wireless service revenue2 of $19.5 billion, a 3.3 percent increase year over year. — Retail postpaid phone net losses of 68,000, and retail postpaid net additions of 253,000. — Retail postpaid phone churn of 0.89 percent,

Verizon Begins 2024 With Strong Wireless Service Revenue Growth, Solid Cash Flow and Continued Momentum in Broadband Read Post »

Scroll to Top