Be a Smart Investor: April 2023

Friday, April 28, 2023

ExxonMobil Q1 Results Top Estimates

Oil major Exxon Mobil Corp. (XOM) reported Friday a profit for the first quarter that soared from last year, reflecting sharply higher upstream and chemical product earnings amid structural earnings improvements through growth of advantaged assets, mix improvements, and cost and execution efficiencies. Adjusted earnings per share and quarterly revenues topped analysts' expectations.

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Imperial Oil Q1 Profit Rises, Tops Estimates; Boosts Dividend 14%

Imperial Oil Ltd. (IMO, IMO.TO) reported on Friday a first-quarter net income of C$1.25 billion or C$2.13 per share, the highest first quarter in over 30 years, up from C$1.17 billion or C$1.75 per share in the prior-year quarter.

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W.P. Carey Maintains FY23 AFFO Outlook - Update

While reporting its financial results for the first quarter on Friday, net lease real estate investment trust W.P. Carey Inc. (WPC) continues to project adjusted funds from operations or AFFO guidance for the full-year 2023 in a range of $5.30 to $5.40 per share.

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Colgate-Palmolive Maintains FY22 Earnings Growth Outlook - Update

While reporting financial results for the first quarter on Friday, Colgate-Palmolive Co. (CL) maintains its earnings and adjusted earnings growth guidance for the full-year 2023, while boosting net sales and organic sales growth outlook.

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Electrolux Posts Q1 Loss, Sales Rise, Backs View; Stock Up

Swedish home appliance major Electrolux AB reported Friday a loss in its first quarter with weak volumes hurt by lower demand. Net sales, however, was higher than last year, and the company maintained its fiscal 2023 forecast. In Stockholm, Electrolux shares were gaining around 9 percent.

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TDK Corp. FY23 Profit Declines; Net Sales Up 14.7%

TDK Corp. (TTDKF.PK, TTDKY.PK) reported fiscal 2023 profit to owners of parent of 114.2 billion yen, down 13% from last year. Earnings per share was 300.64 yen compared to 345.65 yen. Net sales were 2.18 trillion yen, an increase of 14.7%.

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OSI Systems Q3 Results Miss Estimates; Reiterates FY23 Outlook

OSI Systems, Inc. (OSIS) reported on Thursday that net income for the third quarter doubled to $42.74 million or $2.41 per share from $21.81 million or $1.27 per share in the prior-year quarter. Excluding items, adjusted earnings were $1.43 per share, compared to $1.49 per share in the year-ago quarter.

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Altria Group Reaffirms 2023 Earnings Guidance

Altria Group, Inc. (MO) reaffirmed guidance to deliver 2023 full-year adjusted EPS in a range of $4.98 to $5.13. This range represents an adjusted EPS growth rate of 3% to 6% from a $4.84 base in 2022.

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Lilly Q1 Profit Down, Misses View; Lifts FY23 Forecast; Stock Up In Pre Market

Drug maker Eli Lilly And Co. (LLY), despite reporting weak profit and revenues in its first quarter, on Thursday lifted forecast for fiscal 2023 earnings and revenues.

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Applied Industrial Boosts FY23 Outlook As Q3 Results Top Estimates

While reporting financial results for the third quarter on Thursday, Applied Industrial Technologies Inc. (AIT) raised its earnings and sales growth guidance for the full-year 2023, based on the third-quarter performance.

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Deutsche Bank Q1 Results Rise; Stock Up

Deutsche Bank AG shares were gaining around 2 percent in the morning trading in Germany as well as in pre-market activity on the NYSE after the German banking major on Thursday reported higher profit and revenues in its first quarter. The company recorded highest quarterly profit before tax since 2013, and highest quarterly net revenues since 2016.

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AstraZeneca Q1 Core Profit Rises, Revenue Ex COVID-19 Up 15% At CER; Reiterates FY23 Guidance

AstraZeneca PLC (AZN.L, AZN) reported that its first quarter profit before tax increased to $2.26 billion from $553 million, last year. Earnings per share was $1.16 compared to $0.25. Core operating profit was $3.95 billion, an increase of 4% at CER. Core operating margin was 36%, up one percentage point. Core EPS increased 6% to $1.92.

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Activision Blizzard Q1 Profit Surges; Says CMA's Decision Disproportionate

Activision Blizzard, Inc. (ATVI) Wednesday announced a surge in first-quarter net profit, supported by an increase in revenue, compared to the prior year. The net bookings grew 25 percent, while mobile net bookings increased double-digit year-over-year.

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Amphenol Q1 Profit In Line With Market, Projects Slight Decline In Q2 Results

Amphenol Corp. (APH) Wednesday announced an increase in the first quarter earnings, supported by a growth in sales, compared to the prior year. Earnings per share were in line with estimates, while revenues surpassed analysts' views. In the pre-market, shares are down 3.75 percent.

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Hilton Worldwide Holdings Q1 Results Beat Estimates

Hilton Worldwide Holdings Inc. (HLT) Wednesday announced a slight decline in first-quarter earnings attributable to the stockholders, while earnings per share beat estimates. Revenues for the quarter recorded growth compared to the previous year and came in above estimates.

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Roche Q1 Group Sales Down 3% At CER; Confirms 2023 Outlook

Roche (RHHBY) said the significantly lower demand for COVID-19 tests led to a decrease in first quarter Group sales of 3% at constant exchange rates and a decline of 7% in Swiss francs. Excluding this effect, Group sales grow 8%. Pharmaceuticals Division sales were up 9%. Diagnostics Division base business rose 4%. The company noted that it saw strong growth in both divisions' base business. Looking forward, Roche confirmed its outlook for 2023.

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Sherwin-Williams Issues Q2 Revenue View, Backs FY23 Forecast; Stock Up In Pre-market

Sherwin-Williams Co. (SHW), while reporting higher first-quarter earnings above market estimates, with increased revenues, on Tuesday issued second-quarter revenue growth view, and backs fiscal 2023 forecast.

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GM Q1 Profit Down, Adj. EPS And Topline Beat Estimates; Updates FY23 View; Stock Up In Pre-market

Automaker General Motors Co. (GM) reported Tuesday that its first-quarter net income attributable to stockholders fell 18.5 percent to $2.40 billion from last year's $2.94 billion.

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3M Announces Restructuring Actions, To Impact Approx. 6,000 Positions

3M (MMM) said the company is taking restructuring actions that are expected to affect all functions, businesses, and geographies and will impact approximately 6,000 positions globally. 3M anticipates annual pre-tax savings of $700 million to $900 million upon completion of these actions.

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UBS Stock Dips On Weak Q1 Results; Sees Higher Net Interest Income

Shares of UBS Group AG were losing around 4 percent in the morning trading in Switzerland as well as in pre-market activity on the NYSE after the banking major reported Tuesday sharply lower profit in its first quarter due to increased U.S. litigation provision and weak revenues. The Swiss bank, which is in deal to buy domestic peer Credit Suisse Group AG, also warned about ongoing uncertainties

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UBS Stock Dips On Weak Q1 Results; Sees Higher Net Interest Income

Coca-Cola Q1 Profit Up 12%, Results Top Estimates

Beverages giant Coca-Cola Co. (KO) reported Monday that profit for the first quarter increased 12 percent from last year, driven by 5 percent revenue growth. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also maintained its adjusted earnings and organic revenue growth outlook for the full-year 2023.

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Philips Q1 Loss Widens, Adj. EBITA Rise; Says Confident Of FY23; Stock Climbs

Shares of Philips Electronics NV were gaining around 12 percent in the morning trading in Amsterdam after the Dutch consumer electronics giant reported Monday higher adjusted EBITA and sales in its first quarter, and said it is confident for fiscal 2023. Net loss, meanwhile, was wider than last year as it set aside a significant litigation provision related to the anticipated resolution...

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P&G Q2 Results Top Estimates; Backs FY23 Earnings View, Lifts Sales Forecast

Consumer goods giant Procter & Gamble Co. reported Friday higher earnings and net sales in its third quarter, both above the Street estimates, benefited by higher pricing in all segments, despite weak volumes. Further, the company maintained fiscal 2023 earnings growth view, and raised sales forecast. In pre-market activity on the NYSE, P&G shares were gaining around 2.1 percent.

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P&G Q2 Results Top Estimates; Backs FY23 Earnings View, Lifts Sales Forecast

SAP Q1 Profit Weak, While Revenues Rise; Adjusts FY23 View

German software major SAP AG reported Friday lower profit in its first quarter amid higher expenses, even as revenues were higher with improved performance in cloud and software revenue. Further, the company lifted its dividend, and updated its fiscal 2023 outlook to reflect the expected Qualtrics divestiture. Meanwhile, outlook for continuing operations including anticipated acceleration...

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AT&T Q1 Profit Down, Beats View; Topline Miss Estimates; Stock Down In Pre-market

Telecom giant AT&T, Inc. reported Thursday that its first-quarter profit declined from last year, yet topped market estimates. Revenues were higher, but missed the Street forecast. The company further said it is on track to achieve $6 billion-plus run-rate cost savings target before the end of the year. In pre-market activity on the NYSE, the shares were losing around 4.7 percent.

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Nokia Q1 Profit Rises, Comparable Results Down, Confirms View; Stock Dips

Finnish critical networks and communications company Nokia Corp. reported Thursday higher profit and net revenues in its first quarter with improved performance in most of its segments. Comparable earnings and margin, meanwhile, declined from last year. Further, the firm maintained its fiscal 2023 and long term targets. Nokia shares were losing around 5 percent in the morning trading in Finland.

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Morgan Stanley Q1 Results Down, Yet Beats View

Financial services firm Morgan Stanley reported Wednesday weak profit, revenues and assets under management in its first quarter, noting that the businesses navigated a volatile market environment. Earnings per share and topline, however, beat market estimates. In pre-market activity on the NYSE, Morgan Stanley shares were losing around 4.2 percent.

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U.S. Bancorp Q1 Profit Rises; Issues Updated Guidance

U.S. Bancorp (USB) said its first-quarter net income increased year-over-year driven by higher total net revenue, partially offset by higher provision expense, and noninterest expense, including the merger and integration-related charges. Pretax income excluding merger and integration related charges in the quarter increased 23.0 percent compared with a year ago. Net interest income increased 45.9 percent on a year-over-year taxable-equivalent basis due to the impact of rising interest rates on earning assets and the impacts of the MUB acquisition. The net interest margin increased to 3.10 percent from 2.44 percent. Noninterest income increased 4.6 percent from previous year.

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ASML Q1 Results Surge, Bookings Down; Backs FY23 View; Stock Dips

Dutch semiconductor equipment maker ASML Holding N.V. reported Wednesday significantly higher profit in its first quarter mainly driven by strong net sales with increased sales of lithography systems. Further, the company lifted dividend, and said it sees sequentially higher net sales in the second quarter. ASML also maintained its fiscal 2023 sales growth view. In the early morning trading...

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Goldman Sachs Q1 Profit Down, Yet Beats; Topline Misses View

Goldman Sachs Group Inc. reported Tuesday lower profit in its first quarter as revenues were hurt mainly by weak performance in Global Banking & Markets. Earnings per share, however, beat market estimates, while topline missed view. In pre-market activity on the NYSE, the banking major's shares were losing around 3.5 percent. Citing the weak results amid the banking industry turmoil, David Solomon

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Goldman Sachs Q1 Profit Down, Yet Beats; Topline Misses View

Johnson & Johnson Q1 Profit Tops Estimates; Raises 2023 Guidance Midpoints

Johnson & Johnson (JNJ) reported an increase of 0.4% in first-quarter adjusted profit per share, that also topped Wall Street estimates. Operational growth in sales was 9.0% and adjusted operational growth was 7.6%, for the quarter. Consumer Health worldwide adjusted operational sales increased 11.3% largely driven by over-the-counter products. Pharmaceutical worldwide adjusted operational sales grew 7.2%, for the quarter.

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Ericsson Q1 Profit Down, Sees Lower End Of FY24 EBITA View; Stock Dips

Shares of LM Ericsson were losing around 6 percent in the morning trading in Sweden as well as around 4 percent in pre-market activity on Nasdaq after the telecom major reported Tuesday weak profit in its first quarter amid flat organic sales, while total sales increased in double-digit rates. Ericsson added that it is on track to reach the lower end of the long term EBITA target range...

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Ericsson Q1 Net Income Declines; Organic Sales Flat

Ericsson (ERIC) reported that its first-quarter net income declined to 1.6 billion Swedish kronor from 2.9 billion kronor, prior year. EPS decreased to 0.45 kronor from 0.88 kronor. EBITA excluding restructuring charges amounted to 4.8 billion kronor compared to 5.0 billion kronor. EBITA margin excluding restructuring charges was 7.7% compared to 9.1%.

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Charles Schwab Q1 Profit Tops Estimates; Revenue Growth At 10%

Investment services firm Charles Schwab Corp. (SCHW), on Monday, reported an increase in profit for the first quarter that also topped Wall Street estimates. Total revenue was up 10% year-over-year and exceeded $5 billion for the fourth consecutive quarter. The company said the combination of top-line growth, coupled with disciplined expense management, yielded a pre-tax margin of 41.2%, or 45.8% adjusted, for the quarter.

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JPMorgan Chase Q1 Results Top Estimates; Stock Up In Pre-market

Banking major JPMorgan Chase & Co. reported Friday higher earnings and revenues for its first quarter, both above Street estimates. The company said its lines of business recorded continued momentum in the quarter. In pre-market activity on the NYSE, JPMorgan shares were gaining around 6.03 percent.

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JPMorgan Chase Q1 Results Top Estimates; Stock Up In Pre-market

Delta Q1 Loss Narrows; Sees Q2 Earnings Above Market, Backs FY23 View

Delta Air Lines, Inc. reported Thursday narrower net loss in its first quarter with strong growth in revenues. Adjusted earnings missed market estimates. Further, the company issued second-quarter outlook, expecting earnings above market with strong revenues, and also reiterated fiscal 2023 view. In pre-market activity on Nasdaq, the shares were gaining around 4 percent.

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Tesco PLC FY Adjusted Operating Profit Declines; Sales Up 5.3% At Constant Rates

Tesco PLC (TSCO.L, TSCDY.PK) reported that its fiscal year Group adjusted operating profit decreased by 7.1% at constant rates, primarily reflecting the impact of lower year-on-year volumes, the ongoing investment in customer offer and significant operating cost inflation, partially offset by a very strong Booker catering recovery and the acceleration of Save to Invest programme. Total retail adjusted operating profit was down 6.3% at constant rates. Group sales increased by 5.3% at constant rates, driven by strong sales performance in all segments as volumes held up relatively well despite cost-of-living pressures and some further post-pandemic normalisation. Statutory revenue rose 7.2% including fuel sales up 23.3%.

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Lamb Weston Raises FY23 Financial Targets

Lamb Weston Holdings, Inc. (LW) updated its financial targets for fiscal 2023, which now include the consolidation of LW EMEA. Net sales is projected in a range of $5.25 billion to $5.35 billion, including $300 million to $325 million of sales attributable to the consolidation of LW EMEA's results in the fourth quarter. The company previously expected to deliver net sales of $4.8 billion to $4.9 billion, which did not include the expected contribution from LW EMEA. Net income is projected in a range of $639 million to $664 million and EPS of $4.42 to $4.57. The company previously expected to deliver net income of $580 million to $620 million and EPS range of $4.03 to $4.28.

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Schnitzer Steel Industries Q2 Profit Meets Estimates

Schnitzer Steel Industries, Inc. (SCHN) reported Wednesday that net income attributable to shareholders for the second quarter plunged to $4.35 million or $0.15 per share from $37.62 million or $1.27 per share in the prior-year quarter.

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Conagra Brands Boosts FY23 Adj. EPS Outlook - Update

While reporting financial results for the third quarter on Wednesday, branded food company Conagra Brands, Inc. (CAG) raised its adjusted earnings guidance for the full-year 2023, while trimming annual organic net sales growth outlook.

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Acuity Brands Q2 Profit Tops Estimates; Net Sales Up 4%

Acuity Brands, Inc. (AYI) reported that its second quarter adjusted EPS increased 19 percent year-over-year. The company grew sales in both its lighting and spaces businesses, for the quarter.

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AMC Theatres Settles Shareholder Lawsuit Over Reverse Stock Split

AMC Entertainment Holdings Inc. has reached a settlement in a shareholder lawsuit to proceed with converting its preferred stock into common shares. Following the settlement, which will provide investors additional shares as part of recapitalization, the movie theater chain's shares fell 22 percent in the extended trade on Monday, while its preferred shares grew 22 percent.

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Friday, April 28, 2023

Thursday, April 27, 2023

Wednesday, April 26, 2023

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