Procter & Gamble (PG) is set to release its first-quarter earnings on Friday, October 18th. Analysts are expecting strong results, with a projected earnings per share of $1.90 and revenue of $21.91 billion. This article examines the company’s recent performance, analyst expectations, and the potential impact on the stock price.
Embracer Group, the Swedish gaming conglomerate, saw a decline in net sales for the first quarter of its 2024 fiscal year, largely due to a decrease in PC and console gaming revenue. However, the company reported improved profitability in tabletop and mobile gaming segments. Embracer also revealed plans to split into three publicly listed entities, with the first spinoff expected by the end of the year.
AirAsia X Berhad experienced a robust start to 2024, showcasing significant growth in its financial performance for the First Quarter of 2024 (1Q24) ending on 31 March 2024. The Company achieved a revenue of RM908.9 million in 1Q24, marking a 66% year-on-year (YoY) increase, driven by a 90% YoY rise in passengers carried, totaling 959,623, while maintaining a capacity of 1,155,788 seats. This growth was fueled by high demand during key festive periods and school holidays, resulting in a robust Passenger Load Factor (PLF) of 83%, up three percentage points YoY. Notably, routes in China, India, and Japan performed exceptionally well with PLFs exceeding 90%. During 1Q24, AirAsia X achieved a net profit of RM80.1 million, with a margin of over 8% against its revenue. Its Cost per Available Seat Kilometre (CASK) was notably lean at 13.93 sen/US¢2.95, the lowest among comparable airlines in the industry, marking an 11% reduction from the previous quarter’s CASK of 15.71 sen/US¢3.35. This reduction was attributed to lower operating expenses due to decreased jet fuel prices and the increased ASK capacity. Revenue per Available Seat Kilometre (RASK) stood at 18 sen, reflecting an average fare of RM650 and a 5% improvement from the preceding quarter. In 1Q24, ancillary revenue per passenger grew by 3% YoY to RM251, driven by tailored product offerings and enhancements in personalization, platform efficiency, and booking flow.
Aer Lingus has reported an operating loss of €82 million for the first quarter of 2024, mirroring the performance in the same period in 2023. Despite an increase in revenue and a 4% growth in overall capacity, the operating loss remained unchanged due to higher expenses. The airline is committed to enhancing customer experience and has launched initiatives such as allowing AerClub flight redemptions on aerlingus.com and expanding in-flight entertainment options.
S Hotels and Resorts PCL (SHR) reported an 8% year-on-year increase in service revenue for the first quarter of 2024, totaling 2,742.8 million baht. This growth was driven by newly renovated room offerings, leading to a 24% surge in the Average Daily Rate (ADR). Despite operational achievements in Thailand and the CROSSROADS project, net profit declined by 11% to 111.6 million baht due to factors such as increased interest rates and the operational performance of SO/ Maldives during its ramp-up phase.
Thai Airways International Public Company Limited (THAI) and its subsidiaries recorded a net profit of 2,423 million baht in the first quarter of 2024, reflecting a 15.0% decrease from the previous year’s Q1. The company’s total revenue grew by 10.7% to 45,955 million baht, primarily driven by increased passenger revenue. However, total expenses rose by 22.5% to 34,880 million baht, due to higher production, traffic, and ground service costs, among other factors. Despite the decrease in operating profit, THAI’s EBITDA remained stable at 14,000 million baht. The company has taken steps to optimize its flight slot management, improve route connectivity, and enhance customer experiences through cabin upgrades and a new mobile app.
Amadeus reported strong financial performance in the first quarter of 2024, with significant growth in revenue, EBITDA, operating income, and adjusted profit. Air distribution revenue increased by 12.6%, Air IT solutions revenue grew by 17.0%, and hospitality and other solutions revenue increased by 13.2%. Overall, group revenue increased by 14.1%, EBITDA by 14.2%, operating income by 19.1%, and adjusted profit by 18.8%. Amadeus’ Free Cash Flow also increased by 23.1% to €336.1 million. The company’s Net Financial Debt at March 31, 2024, stood at €2,460.0 million. Amadeus’ CEO, Luis Maroto, highlighted the company’s strong start to the year and its ongoing strategic efforts, including a partnership with Expedia Group for NDC technology integration.
European tourism is experiencing a strong recovery in the first quarter of 2024. Foreign arrivals and overnights have surpassed 2019 figures, driven by intra-regional travel and demand from the US. Southern Europe and Nordic countries are leading the recovery, while the Baltic region continues to lag due to the war in Ukraine. Despite challenges such as inflation and geopolitical uncertainty, consumer demand remains robust, and travel spending is expected to increase by 14.3% in 2024. Major sporting events like the Olympics and Euros are expected to further boost tourism in France and Germany.
Norwegian Cruise Line Holdings Ltd. has reported strong financial performance for the first quarter of 2024, ending March 31. The company has delivered positive guidance for the second quarter and the full year. Key highlights include sustained margin improvement initiatives, strong revenue growth, and a solid liquidity position.
Cargojet has announced its financial results for the first quarter of 2024, reporting a slight decline in total revenue but an increase in several key financial metrics. Total revenue for the quarter amounted to $231.2 million, just below the $231.9 million recorded in the same period last year. Revenue from domestic operations, ACMI, and All-in Charter collectively grew to $181.0 million compared to $169.9 million in Q1 2023. Adjusted EBITDA for the quarter improved from $75.0 million in 2023 to $78.4 million this year. Net earnings excluding warrant valuation and contract asset amortization reached $20.8 million, a substantial increase from $9.8 million in 2023. Cash flow has also improved significantly, with Free Cash Flow surging to $168.7 million in the three-month period ended March 31, 2024, compared to $15.2 million in the same period last year. Co-Chief Executive Officers Jamie Porteous and Pauline Dhillon highlighted the company’s focus on efficiency, cost reduction, and customer satisfaction as key drivers of these positive financial outcomes. They expressed cautious optimism about the future, acknowledging geopolitical uncertainties and potential supply chain disruptions.
