Consumer Discretionary

Lowe’s Companies (NYSE:LOW) Q4 2023 Earnings Conference

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The following is a summary of the Lowe’s Companies, Inc. (LOW) Q4 2023 Earnings Call Transcript: Financial Performance: Lowe’s reported Q4 sales of $18.6 billion with diluted earnings per share of $1.77. Gross margin was 32.4% of sales in Q4, up by 7 basis points from the previous year. The company’s effective tax rate was 23.8%, in line with the prior year’s adjusted rate. The operating margin rate for Q4 was 9.1%, showing a decline of 48 basis points from last year. Lowe’s paid $632 million in dividends in 2023 and repurchased 1.9 million shares, returning over $1 billion to shareholders. The company’s capital expenditure was $620 million in Q4, to invest in strategic initiatives for growth and profitability. Sales expectations for 2024 range from $84 billion to $85 billion with comparable sales decline expected in the range of 2% to 3%. The company forecasts an operating margin of between […]

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Netflix Price Increase, Ad-Supported Tier to Drive ’24 Revenue Growth, UBS Says

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Netflix’s price per hour of consumption is at the low end of its peer group, which is expected to lead to price increases this year, UBS analyst John Hodulik says in a research note. “While we expect net adds to slow, we believe Netflix still has significant runway as it continues to convert users to paid subs and attracts new cohorts,” Hodulik says. These conversions, along with price increases and a ramp-up in revenue from its ad-supported subscriptions is expected to drive 15% revenue growth in 2024, the analyst says. Hodulik raises the price target to $685 from $570. Netflix is up 2.4% to $601.85.

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Domino’s Pizza, Inc. (NYSE:DPZ) Announces Fourth Quarter and Fiscal 2023 Financial Results

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Domino’s Pizza(R) Announces Fourth Quarter and Fiscal 2023 Financial Results ANN ARBOR, Mich., Feb. 26, 2024 Global retail sales growth (excluding foreign currency impact) of 4.9% for the fourth quarter; 5.4% growth for fiscal 2023 U.S. same store sales growth of 2.8% for the fourth quarter; 1.6% growth for fiscal 2023 International same store sales growth (excluding foreign currency impact) of 0.1% for the fourth quarter; 1.7% growth for fiscal 2023 Global net store growth of 394 for the fourth quarter; 711 for fiscal 2023 (excluding closure of the Russia market, global net stores grew by 870 for fiscal 2023) Income from operations up 3.4% for the fourth quarter; up 6.7% for fiscal 2023 (excluding $21.2 million pre-tax refranchising gain recorded in fourth quarter of 2022, income from operations up 13.0% for the fourth quarter; up 9.7% for fiscal 2023) Board of Directors approves 25% increase in quarterly dividend to

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Domino’s Pizza’s (NYSE:DPZ) Fiscal Q4 Earnings, Revenue Advance

/ / Consumer Discretionary /

Domino’s Pizza (DPZ) reported fiscal Q4 earnings Monday of $4.48 per diluted share, up from $4.43 a year earlier. Analysts polled by Capital IQ expected $4.40. Total revenue for the quarter ended Dec. 31 was $1.40 billion, up from $1.39 billion a year earlier. Analysts surveyed by Capital IQ expected $1.42 billion. The company’s board declared in February a 25% increase in its quarterly dividend to $1.51 per share payable March 29 to shareholders of record March 15. Domino’s Pizza shares were up more than 6% in recent Monday premarket activity.

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CFRA Maintains Hold Opinion On Shares Of Domino’s Pizza, Inc. (NYSE:DPZ)

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $483 from $370, 30.6x our 2024 EPS estimate, above DPZ’s five-year average forward P/E of 28.8x, reflecting better revenue growth prospects. We raise our 2024 EPS to $15.76 from $15.69 and set 2025’s at $17.58. DPZ posted Q4 EPS of $4.48 (+1.1% Y/Y), $0.08 above consensus. Revenue of $1,403M (+0.8% Y/Y) was $18M below consensus. Operating income increased 3.4% Y/Y to $257M vs. the $253M consensus, with margin widening 46 bps Y/Y to 18.3%. Same-store sales rose in the U.S. by 2.8%, but only increased 0.1% (ex-FX) internationally vs. the 3.3% consensus. In the U.S., DPZ saw growth in both carry-out and delivery transactions, while international closures, mainly in Russia and Brazil, weighed on revenue. DPZ also raised its dividend by

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Warner Bros. Discovery (NASDAQ:WBD) Still Faces Challenges, Recover Possible, Timing Uncertain, BofA Says

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Warner Bros. Discovery (WBD) continues to face challenges on multiple fronts as reflected by the recently concluded Q4, BofA Securities wrote in a note on Monday. Warner Bros Discovery late last week reported a $0.16 per share net loss for the three months ended Dec. 31, improving from a loss of $0.86 a year-ago, but still lagging the analyst consensus by $0.10. Revenue declined to $10.28 billion, also trailing the $10.42 billion estimate. The most recent quarter was riddled with challenges from a decline in the linear broadcast TV to advertisements and various strikes. BofA analysts said a variety of factors may help the company improve, including a recovering ad market and if cord-cutting hits a plateau. Internal components like increased licensing of its content and an improved film slate, among others, could also act as tailwinds. However, the company is not certain when this recovery will occur, the investment

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Target Conservative Guidance Could Provide Opportunity

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Target is expected to report 4Q results next week, and Oppenheimer analysts say they see more conservative guidance in 2024, which could potentially trigger selling in the stock. They recommend taking advantage of any weakness following Target’s more than 40% rally off the October lows. They say Target remains a top Oppenheimer pick and reiterate their outperform rating while raising the price target to $170 from $160. The stock sinks 1% to $150.33.

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Domino’s Pizza’s (NYSE:DPZ) Q4 2023 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Domino’s Pizza, Inc. (DPZ) Q4 2023 Earnings Call Transcript: Financial Performance: Domino’s reported positive U.S. same-store sales and transaction growth in both delivery and carryout in Q4. The company added 168 net new stores in 2023, surpassing expectations and increasing estimated average franchisee profitability per store to $162,000. Q4 global retail sales grew 4.9%, driven by positive U.S. comps and global store growth. Domino’s saw a decline of 1.6 percentage points in the U.S. company-owned store gross margin in Q4 Q4 income from operations increased by $8.4 million or 3.4%, and was up approximately 10% for the full year. The Company increased its dividend by 25% and share repurchase authorization by $1 billion. Business Progress: Domino’s grew their rewards program by 3 million active members in 2023, reaching approximately 33 million active members by the end of the year. The company executed its

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Home Depot Shares’ Upside Potential Seen Limited, RBC Says

/ / Consumer Discretionary /

Home Depot (HD.US) shares offer limited upside potential as investors have already factored in the prospect of lower interest rates and a recovery in the housing market, RBC Capital Markets said in a note. Noting that it will be looking for a “more attractive entry point,” the firm said the company’s current share price embeds comparable sales growth of flat to low single digits for 2024 and low- to- mid-single digits in 2025 against Home Depot’s own 2024 guidance of a 1% decline. RBC is also now estimating a 1% decline in comparable sales, widening from a 0.3% decline previously, but raised its earnings per share estimate to $15.33 from $15.32 to account for an increase in gross margin. RBC Capital maintained its sector perform rating on the stock while raising its price target to $377 from $299.

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