Toy company Hasbro has reported better-than-expected earnings for the first quarter of 2023. Earnings per share (EPS) came in at $0.61, exceeding analyst estimates of $0.28. Revenue also surpassed expectations, reaching $757.3 million compared to consensus estimates of $749.48 million. Hasbro’s stock price responded positively, closing at $58.14 and showing gains of 13.75% over the past three months and 13.91% over the past year.
Tesla reported a significant 55% decline in its net income for the first quarter of 2024. This decline in earnings was coupled with a 9% drop in revenue, marking Tesla’s most significant drop since 2012. The company attributed this decline to increased competition from Chinese automakers and a tepid demand for electric vehicles. Tesla’s CEO, Elon Musk, acknowledged the challenges and announced plans to accelerate production of new, more affordable electric vehicles. The company expects to begin production of these new models by the end of the year or early 2025. Tesla also unveiled its plans for a self-driving robotaxi, which is set to be unveiled on August 8th.
Tesla has announced the accelerated launch of new models, originally slated for the second half of 2025, driving its shares up by nearly 7% in after-hours trading. While the company remains tight-lipped about pricing, it cites a need for prudent growth in vehicle volumes amidst uncertain economic conditions. Despite the positive news, Tesla has reportedly scrapped its long-promised inexpensive model and continues to focus on robotaxi development on a small-vehicle platform.
Chubb’s (NYSE: CB) first-quarter financial results exceeded analysts’ expectations, with EPS of $5.41, surpassing the estimate of $5.31, and revenue reaching $12.22 billion against the consensus estimate of $11.75 billion. The company’s stock price closed at $249.60. Over the past year, Chubb’s stock has experienced a 24.45% gain, and in the last three months, it has increased by 3.47%. Notably, Chubb has received 10 positive EPS revisions and 5 negative revisions within the last 90 days. InvestingPro assesses Chubb’s financial health as demonstrating ‘great performance.’
Visa (NYSE: V) reported strong financial results for its fiscal Q2 2024, surpassing Wall Street’s expectations for earnings and revenue. The company’s earnings per share (EPS) of $2.51 exceeded the projected $2.44, while revenue reached $8.78 billion, outpacing the estimated $8.62 billion.
Visa A (NYSE: V) exceeded earnings and revenue estimates for the second quarter of 2023. The company reported earnings per share (EPS) of $2.51, surpassing the analyst consensus of $2.44. Revenue came in at $8.78 billion, higher than the estimated $8.62 billion.
In the past three months, Visa A’s stock has increased by 2.31%, while it has experienced a 17.77% rise over the past year. The company’s financial health has been assessed as “great performance” by InvestingPro.
Tesla’s first-quarter earnings fell short of analyst expectations, with earnings per share (EPS) of $0.45 compared to the estimated $0.49. Revenue also missed the consensus estimate, coming in at $21.3B against the expected $22.27B. Tesla’s stock price has declined by over 21% in the past three months and by 11% over the past year. Despite one positive EPS revision in the last 90 days, there have also been 14 negative revisions.
Sherwin-Williams Company (SHW) reported lower-than-expected first-quarter earnings per share and revenue, impacted by delayed capex projects and sluggish sales. Consolidated net sales declined by 1.4% in the quarter. Net sales from stores in the Paint Stores Group open more than twelve calendar months remained flat. Gross margin expanded to 47.2%, driven by cost-cutting initiatives. The company expects full-year revenue to grow moderately, but lowered its adjusted EPS guidance. SHW shares declined by 3.2% in pre-market trading.
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.
