Coca-Cola(KO.US) Q1 2024 Earnings Conference

/ / Consumer Staples /

The following is a summary of the The Coca-Cola Company (KO) Q1 2024 Earnings Call Transcript: Financial Performance: Coca-Cola posted Q1 organic revenue growth of 11% and a unit case growth of 1%. Pricing actions and inflationary pricing contributed to a 13% price mix growth. This led to a Q1 comparable EPS of $0.72, showing a 7% YoY increase. Despite facing 9% currency headwinds, the company delivered a 7% comparable earnings growth. The free cash flow for Q1 amounted to $160 million. 2024 guidance predicts an organic revenue growth of 8-9% and a comparable EPS growth of 11-13% currency-neutral. Business Progress: Coca-Cola reported growth across various regions like China, Japan, South Korea, and the Philippines and expects to see continued strong performance in India. The Coca-Cola brand had a broad-based success, and they have updated the formulas of their other popular drinks like Fanta and Sprite. The company is putting […]

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Goldman Scrutinizes Hits, Misses, And Growth Trajectory Concerns For Eli Lilly And Its Its Obesity and Diabetes Drugs

/ / Health Care /

Tuesday, Eli Lilly And Co (NYSE:LLY) reported first-quarter revenue of $8.77 billion, up 26% year over year, marginally missing the consensus of $8.92 billion, driven by increases of 16% in volume and 10% due to higher realized prices. Eli Lilly posted an adjusted EPS of $2.58, beating the consensus of $2.46, higher than $1.62 a year ago. Goldman Sachs writes that Eli Lilly reported somewhat of a mixed quarter. Topline underperformance was driven primarily by lower-than-expected Mounjaro sales ($1.8 billion vs. GS/Consensus of $2.4 billion/$2.1 billion). Additionally, there was a miss by several in-line products (Trulicity -12%/-12% vs. GS/Consensus, Verzenio -2%/-3% vs. GS/Consensus, Taltz -2%/-7% vs. GS/Consensus). Goldman Sachs writes that Zepbound sales exceeded consensus expectations ($517 million vs. GS/Consensus of $500 million/$390 million, respectively). Goldman highlighted that progress on bolstering supply for incretin products and expected growth trajectory for 2024 should be a focus for the investor call. Also, any insight into

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Eli Lilly and Co(LLY.US) Q1 2024 Earnings Conference

/ / Health Care /

The following is a summary of the Eli Lilly and Company (LLY) Q1 2024 Earnings Call Transcript: Financial Performance: Eli Lilly reported Q1 revenue growth of 26% with new products contributing nearly $1.8 billion. Gross margin as a percent of revenue increased to 82.5% in Q1 2024, up from 78.4% in Q1 2023. The company delivered an EPS of $2.58 in Q1 2024, a 59% increase compared to Q1 2023. Full-year revenue outlook has been raised to between $42.4 – $43.6 billion. Business Progress: Eli Lilly continues to invest in the launch and development of new medicines, with positive results for Phase 3 trials for tirzepatide. Expansion of the company’s manufacturing capabilities is underway, including acquiring an injectable medicine facility and establishing a new manufacturing site in Germany. Discussions with the FDA are ongoing regarding the potential benefits of tirzepatide treatment for Non-Alcoholic Steatohepatitis (NASH), obesity, and other metabolic-related diseases.

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AMD Q1 Non-GAAP Earnings, Revenue Increase; Q2 Revenue Outlook; Shares Drop After Hours

/ / Technology /

AMD (AMD) reported Q1 non-GAAP earnings Tuesday of $0.62 per diluted share, up from $0.60 a year earlier. Analysts surveyed by Capital IQ expected $0.61. Revenue in the quarter ended March 30 rose to $5.47 billion from $5.35 billion a year earlier. Analysts surveyed by Capital IQ expected $5.45 billion. The company expects Q2 revenue of $5.7 billion, plus or minus $300 million. Analysts surveyed by Capital IQ project $5.69 billion. AMD shares fell 2.9% in recent after-hours activity.

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CFRA Maintains Hold Opinion On Shares Of Mcdonald’s Corporation

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target to $287 from $310, 23.4x our 2024 EPS, below MCD’s five-year average forward P/E of 25.6x, reflecting weaker customer traffic trends. We cut our 2024 EPS to $12.26 from $12.30 and 2025’s to $13.41 from $13.53. MCD posted Q1 adj-EPS of $2.70, $0.03 below consensus. Revenue of $6,169M (+ 4.6% Y/Y) was in line with consensus. Adj. operating income rose 2.1% Y/Y to $2,771M vs. $2,825 consensus, with margin contracting 110 bps to 44.9%. Same-store sales rose by 1.9% vs. 2.4% consensus, driven by growth in the U.S. (+2.5%) and Int’l Operated Markets (+2.7%), partly offset by Int’l Developmental Licensed Markets (-0.2%), largely due to the war in the Middle East. Despite a tough macro backdrop, where most consumers seek superior value,

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CFRA Reiterates Buy Opinion On Shares Of Amazon.com, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $233, up $12, is calculated using an EV/EBITDA multiple of 17x from our 2024 adj-EBITDA estimate of $150.0 billion (up from $141.8 billion) vs. 12x-30x historical average. We lift our 2024 adj-EPS (excludes Rivian valuation and stock-based comp) to $7.47 from $6.85 and 2025’s to $8.75 from $8.53. Q1 revenue of $143.3 billion (+12.5% Y/Y) beat by $764 million, with operating income of $15.3 billion (+221% Y/Y), $4.3 billion or 39% above consensus. AWS grew a staggering 17% Y/Y and is now a $100 billion run-rate business, of which AI represents just a few billion dollars today. Advertising grew a solid 24% Y/Y. We wouldn’t look too much into the cautious Q2 guidance, as AMZN is notorious for conservative guidance. We’re also not

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CFRA Keeps Hold Opinion On Shares Of Skyworks Solutions Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We hold our 12-month target at $110 on P/E of 13.3x our CY 25 EPS estimate of $8.27, below peers/historical given anemic demand but we do see Jun-Q as the cyclical trough. We reduce our FY 24 (Sep.) EPS view to $6.22 from $7.03 and FY 25 to $8.01 from $8.90. SWKS posts Mar-Q EPS of $1.55 vs. $2.02, beating the $1.53 consensus. Sales fell 13% from Dec-Q and are seen falling another 14% in Jun-Q, below expectations, as mobile customers digest excess inventories. We note that weakness in mobility partly stems from Apple inventory unwind (38% of Mar-Q sales), with segment revenue seen declining 20%-25% seq. in Jun-Q after -19% in Mar-Q, well below historical seasonal trends. We are growing more concerned about SWKS’s business prospects,

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Skyworks Solutions(SWKS.US) Q2 2024 Earnings Conference

/ / Technology /

The following is a summary of the Skyworks Solutions, Inc. (SWKS) Q2 2024 Earnings Call Transcript: Financial Performance: Skyworks reported a Q2 2024 revenue of $1.046 billion, with earnings per share at $1.55. The company generated $300 million of operating cash flow, and the gross profit was $471 million, resulting in a gross margin of 45%. Operating expenses were $192 million, with an operating margin of 26.7%. The company anticipates Q3 revenue to be $900 million, projecting a gross margin in the range of 45% to 47%. Business Progress: Despite observing below-normal seasonal trends and lower end market demand in mobile business in Q2, a modest sequential growth was seen in broad markets. Skyworks showed optimism about growing EV penetration, fueling demand for their power isolation products, despite near-term headwinds. A multiyear upgrade cycle is expected with a strong design win pipeline for Wi-Fi 6E and Wi-Fi 7 in edge

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Amazon(AMZN.US) Q1 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Amazon.com, Inc. (AMZN) Q1 2024 Earnings Call Transcript: Financial Performance: Amazon reported Q1 2024 revenue of $143.3 billion, a 13% increase year-over-year, excluding impacts from foreign exchange rates. Operating income was $15.3 billion, a 221% increase from the prior year. The company reported a trailing 12-month free cash flow, adjusted for equipment finance leases, of $48.8 billion, which is an increase of $53.2 billion year-over-year. Advertising sales saw a year-over-year increase of 24%. The AWS segment recorded a revenue growth of 17.2% YoY, reaching an annualized run rate of $100 billion. Business Progress: Amazon is expanding their product selection and has launched an AI tool for making product listing easier for sellers. Nearly 60% of Prime orders were delivered on the same or following day in Q1, and the company is working to improve delivery speed further. Fulfillment efficiency is being optimized by

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Starbucks(SBUX.US) Q2 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Starbucks Corporation (SBUX) Q2 2024 Earnings Call Transcript: Financial Performance: Starbucks reported Q2 total company revenue of $8.6 billion, a decrease of 1% year-over-year. Global comparable store sales declined 4% year-over-year due to a 3% negative growth in North America and an 11% negative growth in China. The company’s operating margins contracted by 140 basis points to 12.8%, and earnings per share decreased by 7% to $0.68. The consolidated operating margin contracted 140 basis points from the prior year to 12.8%. Q2 Earnings Per Share (EPS) was $0.68, indicating a decrease of 7% from the previous year. The channel development segment’s revenue was $418 million in Q2, marking a 13% decline from the previous year. Business Progress: The Mobile Order & Pay system represented 31% of all transactions in the quarter, setting a new record. Starbucks Rewards members in the U.S grew by

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Domino’s Pizza Group’s Store-Opening Plans, Initiatives Look Positive

/ / Consumer Discretionary /

Domino’s Pizza Group delivered a negative first-quarter performance, but store rollout is seen as an indicator for its medium-term health, Numis analysts Richard Stuber and Tim Barrett write in a research note. The pizza chain–the holder of the master franchise agreement to own, operate and franchise Domino’s stores in the U.K. and Ireland–still expects to open more than 70 stores this year, with 38 stores under construction or with planning permission, the analysts say. The company’s initiatives including its GBP4 lunch offer, loyalty trial and Uber Eats rollout support management’s reiteration of its full-year earnings guidance, they add. Shares are down 0.9% at 322.80 pence.

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Advanced Micro Devices(AMD.US) Q1 2024 Earnings Conference

/ / Technology /

The following is a summary of the Advanced Micro Devices, Inc. (AMD) Q1 2024 Earnings Call Transcript: Financial Performance: AMD reported a Q1 2024 revenue of $5.5bn, an increase from the previous year, with growth driven by data center and client segment sales. The company expanded their gross margin by over 2 percentage points. Data center segment revenue grew by 80% YoY to a record $2.3bn, primarily driven by AMD Instinct MI300X GPU shipments and a double-digit percentage increase in server CPU sales. Client segment revenue increased by 85% YoY on strong demand for their Ryzen processors. Despite YoY revenue declines in Gaming and Embedded segments (48% and 46% respectively), AMD still reported a net YoY revenue increase. Business Progress: AMD is ramping up their data center business and enabling AI capabilities across their product portfolio. The launch of their second-generation Versal adaptive SoCs and Spartan Ultrascale+ FPGA family marks

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