Results for: Q1 Earnings

Pfizer reported first-quarter revenue and earnings that beat expectations on Wednesday, driven by strong sales of its non-Covid products and its cost-cutting program. The company raised its full-year profit outlook, forecasting adjusted earnings of $2.15 to $2.35 per share, up from its prior guidance of $2.05 to $2.25 per share. Pfizer remains confident in its business and its ability to reduce costs, aiming to achieve $4 billion in savings by the end of the year. The results reflect Pfizer’s efforts to offset the decline in its Covid-related revenue, which has plunged due to decreased demand and the transition to the commercial market. The company is focusing on treating cancer, including its $43 billion acquisition of Seagen, to drive growth and improve its bottom line.

Amazon reported a solid first quarter, beating expectations on revenue and earnings, driven by its cloud business and disciplined cost management. However, a lower-than-expected outlook tempered the positive sentiment, as investors digested concerns about potential margin pressure in the face of increased investments and a more challenging operating environment.

As the first-quarter earnings season progresses, several companies are expected to report results that could trigger significant stock price movements. Over 77% of S&P 500 companies have exceeded analyst expectations in Q1, with earnings growth reaching 5.6% year-over-year. This week, over one-third of S&P 500 companies and 20% of Dow Jones Industrial Average constituents will release their earnings. Notable names on the reporting schedule include Super Micro Computer, Amazon, and Moderna. Peloton, Super Micro Computer, Advanced Micro Devices, Pinterest, and Amazon are among the stocks predicted to experience substantial price fluctuations based on options market expectations.

AbbVie is set to release its first-quarter earnings results on Friday, April 26th, before the market opens. Analysts anticipate a profit of $2.26 per share, an 8.1% decrease year-over-year, on revenue of $11.94 billion, a 2.4% decline from the same period last year. Investors will be particularly interested in the company’s comments regarding its strategy for addressing Humira’s biosimilar challenges and its post-Humira growth prospects, as well as any updates on pricing trends for the upcoming quarters.

Old Republic International (NYSE: ORI) shares declined by 1.6% in premarket trading on Thursday after the insurer reported weaker-than-expected first-quarter results. The company’s net premiums and fees earned fell, while its combined ratio continued to rise. Non-GAAP earnings per share (EPS) came in at $0.67, beating the consensus estimate of $0.65. However, total operating revenue fell short of expectations at $1.85 billion, compared to the $1.94 billion consensus estimate. The combined ratio increased to 94.3% from 93.3% in the previous quarter.

BNP Paribas experienced a 2.2% drop in group net income for the first quarter of the year, reaching 3.10 billion euros. However, this surpassed analyst estimates of 2.4 billion euros. Revenues remained relatively stable at 12.5 billion euros, exceeding the average analyst forecast of 12.2 billion euros. The corporate banking segment performed well, driving overall results, while other divisions faced challenges. The bank remains optimistic, reiterating its target of earning over 11.2 billion euros in 2024 and anticipating revenue growth of more than 2% compared to 2023 distributable sales.

IBM has released its financial results for the first quarter of 2024, exceeding analysts’ expectations. The company reported earnings per share (EPS) of $1.68, surpassing the estimated $1.60 EPS. However, revenue came in slightly below estimates, with reported revenue of $14.46 billion compared to the anticipated $14.55 billion.

Chipotle Mexican Grill (NYSE:CMG) reported impressive financial results for the first quarter of 2024. The company exceeded analyst estimates for both earnings per share (EPS) and revenue.

Ford Motor Company reported better-than-expected profits in the first quarter, buoyed by its commercial business. The automaker also raised its full-year guidance, sending shares up by 2.5% in after-hours trading. Key highlights include a 36% increase in hybrid sales, an exceptional performance by the Ford Pro unit, and ongoing efforts to improve quality control. Despite a miss in adjusted free cash flow and lower EV sales, analysts remain optimistic about Ford’s potential due to its capital discipline and focus on profitable vehicles.

JAKKS Pacific, a leading toy company, has reported a significant loss in its first quarter due to the absence of major kids movies like “The Super Mario Bros Movie” and “The Little Mermaid”. This decline in movie-related sales impacted the company’s overall performance, resulting in lower gross profit margins and adjusted EBITDA loss. CEO Stephen Berman attributed the weaker results to the lack of a strong film slate in 2024 and anticipated lower levels of shipping and retail activity.