Coffee With Greta: Earnings Continue

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Good morning friends!

Futures are higher as Q4 earnings continue to roll-in.

Let’s get right to it!

Snap Plunges On Disappointing Earnings

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: 

  • Adjusted EPS: $0.08 vs $0.06 expected
  • Revenue: $1.36 billion vs $1.38 billion expected
  • Global daily active users: 414 million vs 412 million expected
  • Average revenue per user: $3.29 vs $3.33 expected

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 Jumps On Strong Earnings, Outlook

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: 

  • Adjusted EPS: $0.29 vs $0.14 expected
  • Automotive revenue: $43.2 billion vs $40.12 billion expected

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 Crushes Earnings Expectations

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: 

  • Adjusted EPS: $10.36 vs $9.75 expected
  • Revenue: $2.52 billion vs $2.49 billion expected

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 Slips Despite Earnings Beat

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:

  • EPS: $0.66 vs $0.17 expected
  • Revenue: $9.94 billion vs $9.76 billion expected

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 Beats Expectations, Cuts Outlook

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: 

  • Adjusted EPS: $2.12 vs $1.99 expected
  • Revenue: $93.81 billion vs $90.41 billion expected

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.

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