Bank of America analyst Shaun Kelley expects DraftKings to deliver positive surprises in its third-quarter earnings report, highlighting growth opportunities in revenue expansion, hold improvement, and reduced promotional spending. However, the analyst also acknowledges concerns about app download slowdown and unfavorable NFL outcomes.
HCA Healthcare, a leading hospital chain, reported third-quarter revenues slightly below analysts’ expectations, despite a year-over-year increase. The company’s adjusted earnings per share also missed estimates, attributed in part to the impact of two major hurricanes. HCA Healthcare has revised its full-year guidance, expecting lower revenue and earnings due to the hurricanes’ impact. Despite the challenges, the company remains optimistic about its long-term growth prospects.
SiriusXM Holdings Inc. (SIRI) announced its new phase as an independent public company with a streamlined capital structure and a focus on ongoing success. The company reiterated its full-year 2024 revenue and adjusted EBITDA guidance and launched a $1.66 billion stock repurchase authorization.
German automaker BMW has revised its financial guidance for 2024, citing a decline in global sales. This adjustment is attributed to technical issues with its Integrated Braking System, impacting over 1.5 million vehicles and leading to additional warranty costs. The company also faces subdued demand in China, despite government stimulus measures. As a result, BMW now anticipates a slight decrease in deliveries and a lower EBIT margin for 2024.
Veralto, a global leader in water and product quality solutions, announced positive first quarter results and updated its financial guidance for 2024. The Company reported year-over-year core sales growth led by strength in industrial markets and aggregate price increases. Operating margin expanded, and earnings growth reached high single digits. Veralto anticipates continued low-single-digit non-GAAP core sales growth and adjusted operating profit margin expansion of 50 to 75 basis points for the full year 2024. The Company raised its target for adjusted diluted earnings per share to a range of $1.13 to $1.17.
In an interview on ‘Money Movers’, Novartis CEO Vas Narasimhan discussed the factors driving the company’s strong financial guidance and addressed potential challenges related to pricing in the U.S. market.
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.
Cardinal Health’s pharmaceutical distribution contracts with OptumRx, a subsidiary of UnitedHealth Group, will not be renewed beyond June 2024. Despite this, Cardinal Health reaffirmed its fiscal 2024 adjusted EPS guidance and remains committed to its long-term growth targets. The company expects to partially offset the impact of OptumRx through new customer acquisitions and specialty growth.
