Streetbeat News

Earnings

TSLA

Tesla, Inc.'s (NASDAQ:TSLA) Q1 earnings call led to a 13% surge in after-hours trading, despite a slight earnings miss. Analysts are divided, with some praising the acceleration of a next-gen vehicle's production and a potential entry into the ride-hailing market, competing with Uber and Lyft. Others, however, view the earnings as a disaster, citing a record cash burn and a drop in operating margin. Tesla shares rose 10.11% pre-market.

Portfolio Pulse from Shanthi Rexaline

April 24, 2024 | 10:12 am

OTIS

Otis reported a mixed Q1 performance with a 10% decline in new equipment orders and a 2% decrease in backlog, while net sales rose by 2.7% and organic sales by 3.8%, driven by a 5.8% increase in Service net sales. GAAP EPS grew by 8.9%, and adjusted EPS by 10%, with operating profit margins expanding. The company also saw a 13% increase in Mod orders and a 14% increase in backlog. Otis updated its full-year outlook, raising its adjusted EPS forecast to $3.83-$3.90 and its share repurchase target to $1 billion.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:08 am

HLT

Hilton forecasts its Q2 adjusted EPS to be between $1.80-$1.86, slightly below the estimated $1.88. The company expects a 2.0-4.0% increase in system-wide comparable RevPAR on a currency neutral basis compared to Q2 2023. Adjusted EBITDA is projected to range from $890 million to $910 million.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:08 am

PPBI

Pacific Premier Bancorp (PPBI) reported Q1 2024 adjusted EPS of $0.49, surpassing the $0.47 estimate, with sales of $170.901M exceeding the $149.350M forecast. This represents a 9.96% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:08 am

OTIS

Otis Worldwide (OTIS) reported Q1 2024 adjusted EPS of $0.88, surpassing the $0.87 estimate, marking a 10% increase from the previous year. However, sales of $3.437B fell short of the $3.455B estimate, though they were up 2.72% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:07 am

OC

Owens Corning anticipates its Q2 net sales to remain stable year-over-year, with an expected EBIT margin of approximately 20% for its existing businesses.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:07 am

HLT

Hilton has raised its FY24 adjusted EPS outlook from $6.80-$6.94 to $6.89-$7.03, though this is still below the estimated $7.12. The company expects system-wide comparable RevPAR to increase by 2.0% to 4.0% on a currency neutral basis compared to 2023. Net unit growth, excluding the Graduate Hotels brand acquisition, is projected at 6.0% to 6.5%.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:06 am

SYF

Synchrony Financial shares are trading lower following the release of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:06 am

TEL

TE Connectivity forecasts Q3 FY24 net sales of $4B, below the $4.11B estimate, and adjusted EPS of $1.85, under the $1.92 estimate. The guidance reflects a 2% year-over-year increase in GAAP EPS to $1.71 and a 5% increase in adjusted EPS, including a $0.15 headwind from tax and currency exchange rates.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:05 am

OC

Owens-Corning (NYSE:OC) reported Q1 adjusted EPS of $3.59, surpassing the $3.08 estimate, and sales of $2.30B, exceeding the $2.28B estimate. This represents a 29.6% increase in EPS and a 1.33% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:05 am