Results for: Earnings

Novartis AG (NVS) reported strong first-quarter results, leading the company to raise its full-year guidance. Adjusted EPS increased 17% year over year to $1.80, surpassing the consensus estimate of $1.67. Sales reached $11.83 billion, exceeding the consensus of $11.43 billion. Key growth drivers included the heart failure drug Entresto, the psoriasis drug Cosentyx, and the cancer drug Pluvicto. Novartis also announced that Giovanni Caforio will be proposed as the next chair of the board of directors. The company now expects net sales growth in the high-single to low-double-digit percentage range and core operating income growth in the low double-digit to mid-teens percentage range for 2024.

PNC Financial reported mixed first-quarter earnings, beating EPS estimates but missing revenue expectations due to declining net interest income. Despite headwinds from lower loan levels and higher deposit costs, the bank remains profitable and offers a well-supported dividend. However, commercial real estate portfolio risks and the possibility of accelerated federal fund rate cuts pose potential challenges. The bank’s valuation is slightly below its historical average, making it a potential hold for long-term investors.

NextEra Energy Partners, LP (NYSE: NEP) reported strong adjusted earnings per share (EPS) for the first quarter of 2024, exceeding analyst expectations. The company’s adjusted EPS of $0.75 was $0.50 higher than the analyst estimate of $0.25. However, revenue fell short of expectations, coming in at $257 million compared to the consensus estimate of $340.98 million.

Automotive parts company LKQ (NASDAQ:LKQ) reported financial results for the first quarter of calendar year 2024 (Q1 CY2024), missing analysts’ expectations. Despite a 10.6% year-over-year increase in revenue to $3.70 billion, the company’s non-GAAP earnings per share (EPS) of $0.82 fell short of the estimated $0.95, marking a 13.8% miss. LKQ’s full-year guidance for adjusted EPS and free cash flow was maintained, while organic sales guidance was lowered.

Food and beverage giant PepsiCo (NASDAQ: PEP) reported mixed financial results for the first quarter of its 2024 fiscal year. While revenue and earnings per share (EPS) exceeded analysts’ expectations, the company missed on its operating and gross margins.

Total revenue increased by 2.3% year-on-year to $18.25 billion, slightly above the consensus estimate of $18.11 billion. Non-GAAP EPS came in at $1.61, surpassing the expected $1.52, marking a 6% beat.

Despite the revenue growth, PepsiCo’s sales volumes declined by 2% year-on-year, indicating a challenge in driving product demand. However, the company was able to offset this decline through price increases, resulting in organic revenue growth of 2.7%.

The company maintained its full-year guidance from the previous quarter, with full-year non-GAAP EPS guidance remaining in line with consensus estimates. PepsiCo’s stock price remained flat after the earnings announcement, currently trading at $175.11 per share.

Philip Morris International (PM) reported better-than-expected earnings and revenue for the first quarter of fiscal 2024. Adjusted earnings per share (EPS) came in at $1.50, exceeding the analysts’ estimate of $1.41, while revenue reached $8.79 billion, surpassing the consensus projection of $8.46 billion. The company’s updated guidance for the full year reflects optimism, with an adjusted EPS range of $6.55 to $6.67, acima do consenso de $6,37.

Life sciences toolmaker Danaher (DHR) reported better-than-expected financial results for the first quarter of 2024. Despite an 18% decline in its Biotechnology division, the company’s Life Sciences and Diagnostics divisions recorded growth, resulting in a 3% overall revenue decline compared to the same period last year. The company also reported strong operating cash flow. Danaher’s competitors, such as Repligen, Bio-Rad, and Thermo Fisher Scientific, are expected to be closely watched in light of these positive results.

The chief executive of Norway’s sovereign wealth fund, the world’s largest, has expressed concerns about ‘froth’ in the tech sector, suggesting that this week’s earnings reports from tech giants may provide insights into the extent of any excesses. The comments come as major tech companies like Tesla, Meta, Microsoft, and Alphabet prepare to release their quarterly results, following a recent decline in the tech-heavy Nasdaq Composite index.

PepsiCo reported strong earnings and revenue in the first quarter of 2024, exceeding analysts’ forecasts. Excluding a recall of Quaker Foods products, the company’s adjusted earnings per share reached $1.61, compared to the projected $1.52. Net sales rose 2.3% to $18.25 billion, and organic revenue grew by 2.7%. However, PepsiCo faced volume pressure with a 0.5% decline in its food division and flat volume in its beverage segment. The Quaker Foods recall resulted in a 22% drop in volume for the North American division. Despite these challenges, PepsiCo’s international operations showed positive growth, with snacks and beverages in the Asia Pacific region experiencing a 12% and 7% volume increase, respectively. The company remains optimistic about its 2024 outlook, anticipating at least 4% organic revenue growth and 8% EPS growth in constant currency.

GE Aerospace (GE) reported strong financial results for the first quarter of fiscal 2024. The company’s earnings per share (EPS) came in at $0.82, exceeding the consensus estimate of $0.66. Revenue also surpassed expectations, hitting $16.1 billion compared to the estimated $15.24 billion. GE Aerospace has also updated its financial guidance for the full year 2024, with expectations for adjusted EPS in the range of $3.80 to $4.05, and an operating profit between $6.2 billion and $6.6 billion.