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Good morning friends!
Futures are higher as Q4 earnings continue to roll-in.
Let’s get right to it!
Snap (SNAP) shares are plummeting 30.5% ahead of the open after missing Q4 revenue expectations and issuing soft guidance.
Here’s how the social media company’s results compared to analysts’ estimates:
Revenue rose 5% year over year, marking the sixth straight quarter of single-digit growth.
Snap forecast Q1 revenue between $1.095 billion and $1.135 billion putting the midpoint at $1.115 billion vs $1.117 billion expected.
Ford Motor (F) shares are rising 5.6% in premarket trade after beating Q4 expectations and issuing strong guidance.
Here’s how the automaker’s results compared to analysts’ estimates:
Total revenue rose 4% year over year to $46 billion.
The automaker announced a special $0.18 dividend per share for the first quarter in addition to the regular dividend of $0.15 per share.
The dividends are payable on March 1 to shareholders of record at the market close on February 16.
Ford forecast adjusted earnings before interest and taxes of between $10 billion and $12 billion in 2024 vs $9 billion to $11 billion expected.
The company also expects full-year adjusted free-cash flow of $6 billion to $7 billion and capital spending of $8 billion to $9.5 billion.
Chipotle Mexican Grill (CMG) shares are up 2.8% ahead of the open after beating Q4 expectations on the top and bottom line.
Here’s how the burrito chain’s results compared to analysts’ estimates:
Revenue rose 15.4% year over year while same-store sales jumped 8.4% vs 7.1% expected.
Chipotle said foot traffic in its stores rose 7.4% during the quarter, bucking the trend of lower foot traffic at similar businesses.
Sales were also boosted by a 3% menu price increase that was implemented in October.
Chipotle forecast 2024 full-year same-store sales growth in the mid-single-digit range.
Uber (UBER) shares are down 1.8% in premarket trade despite beating Q4 expectations on the top and bottom line.
Here’s how the ride-hailing service’s results compared to analysts’ estimates:
Revenue jumped 15% year over year.
Uber’s gross booking totaled $27.6 billion in the quarter, up 22% from a year ago.
Mobility gross bookings rose 29% to $19.3 billion while delivery gross bookings jumped 19% to $17 billion.
Uber forecast gross bookings in the first quarter between $37 billion and $38.5 billion vs $37.43 billion expected.
The company expects adjusted EBITDA of $1.26 billion to $1.34 billion vs $1.26 billion expected.
CVS (CVS) shares are up 1.1% ahead of the open after beating Q4 expectations on the top and bottom line.
Here’s how the drugstore chain’s results compared to analysts’ estimates:
Revenue rose nearly 12% year over year but profits did shrink compared to a year ago.
The company’s health services segment contributed the most to that revenue growth, generating $49.15 billion in revenue vs $46.35 billion expected.
Same-store sales grew 11.3% year over year, up 15.5% in the pharmacy division, but down by 3.1% in the front of the store.
CVS lowered its full-year adjusted EPS forecast to at least $8.30 vs $8.50 previously and $8.49 expected.