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DJIA Futures: -25 (-0.1%)

SPX Futures: +9 (+0.2%)

NASDAQ Futures: +45 (+0.3%)

Good morning friends!

Futures are mixed with the S&P 500 continuing its record-setting climb as traders digest new earnings. 

Let’s get right to it!

United Airlines Earnings Beat

United Airlines (UAL) shares are up 6.9% ahead of the open after beating Q4 expectations on the top and bottom line. 

Here’s how the airline’s results compared to analysts’ estimates: 

  • Adjusted EPS: $2.00 vs $1.69 expected
  • Revenue: $13.63 billion vs $13.54 billion expected

Revenue jumped nearly 10% year over year.

But United forecast a Q1 loss due to the FAA’s grounding of Boeing (BA) 737 Max 9 planes. 

The company expects an adjusted loss of $0.35 to $0.85 per share in the current quarter. 

United has 79 of the grounded aircraft in its fleet, the most of any airline.

The company expects the planes to remain grounded through January 26. 

For the full year, United forecast adjusted EPS between $9 and $11 which was in line with analysts’ estimates. 

Johnson & Johnson Flat After Earnings

Johnson & Johnson (JNJ) shares are up 0.1% in premarket trade after beating Q4 expectations. 

Here’s how the pharmaceutical giant’s results compared to analysts’ estimates: 

  • Adjusted EPS: $2.29 vs $2.28 expected
  • Revenue: $21.40 billion vs $21.01 billion expected

Revenue jumped 7.3% year over year. 

Medical device sales were up 13.3% from a year ago to $7.67 billion vs $7.50 billion expected. 

Pharmaceutical sales rose 4.2% to $13.72 billion with no sales of its Covid vaccine in the U.S. 

The company forecast full-year 2024 adjusted EPS of $10.55 to $10.75 on $87.8 billion to $88.6 billion in revenue. 

Procter & Gamble Price Hikes Boost Revenue

Procter & Gamble (PG) shares are up 2.6% ahead of the open after reporting mixed Q4 results.

Here’s how the consumer goods giant’s results compared to analysts’ estimates: 

  • Adjusted EPS: $1.84 vs $1.70 expected
  • Revenue: $21.44 billion vs $21.48 billion expected

Price hikes helped boost P&G’s revenue 3% year over year during the quarter.

That helped offset some of the impact of writing down the value of razor brand Gillette by $1.3 billion.

As consumers paid higher prices, sales volumes declined. 

Volume in the grooming division fell 1%, the beauty segment reported flat sales volumes, health care reported a 3% volume decline, and the feminine, baby and family care business saw sales volumes shrink 2%. 

For fiscal 2024, Procter & Gamble forecast core EPS growth of 8% to 9% vs 6% to 9% previously. 

But the company expected unadjusted EPS to be flat to down 1% vs previous expectations for 6% to 9% growth. 

P&G reiterated its sales forecast of 2% to 4% this year.

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