{"id":60953,"date":"2022-04-21T09:03:09","date_gmt":"2022-04-21T13:03:09","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=60953"},"modified":"2022-04-21T09:03:09","modified_gmt":"2022-04-21T13:03:09","slug":"coffee-with-greta-tesla-crushes-q1-expectations","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/04\/21\/coffee-with-greta-tesla-crushes-q1-expectations\/","title":{"rendered":"Coffee With Greta: Tesla Crushes Q1 Expectations"},"content":{"rendered":"

Editor's Note:<\/strong> Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here<\/span><\/a><\/strong>.<\/p>\n

********<\/p>\n

DJIA Futures: <\/b>+237 (+0.7%)<\/span><\/p>\n

SPX Futures: <\/b>+38 (+0.9%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+168 (+1.2%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are higher as traders digest the latest round of Q1 earnings.\u00a0<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Tesla Crushes Q1 Expectations<\/strong><\/h2>\n

Tesla <\/b>(TSLA) shares are rallying 8.7% ahead of the open after the electric automaker crushed Q1 expectations.\u00a0<\/span><\/p>\n

The company reported earnings of $3.22 per share on $18.76 billion in revenue.\u00a0<\/span><\/p>\n

That beat analysts\u2019 expectations for EPS of $2.26 on $17.80 billion in revenue.\u00a0<\/span><\/p>\n

Revenue surged 81% year-over-year as Tesla delivered a record-high 310,000 vehicles last quarter.<\/span><\/p>\n

The company's automotive margins jumped to a record 32.9% in Q1.<\/p>\n

Tesla did not give detailed 2022 guidance but said it expects annual growth of 50% on a multi-year basis.<\/p>\n

The company did warn supply constraints are expected to continue through the end of this year.<\/p>\n

United Airlines Forecasts Profit in 2022<\/strong><\/h2>\n

United Airlines <\/b>(UAL) shares are up 8.3% in premarket trade after the airline forecast a return to profitability this year. <\/span>
\n<\/span>
\n<\/span>United\u2019s Q1 performance was weaker than expected.<\/span><\/p>\n

The company reported an adjusted loss of $4.24 per share vs analysts\u2019 expectations for $4.22.\u00a0<\/span><\/p>\n

$7.57 billion in revenue was shy of analysts\u2019 estimates for $7.68 billion.<\/span><\/p>\n

Fuel costs jumped to $2.88 per gallon in the first quarter, up from $1.74 in 2021 and $2.05 in 2019.\u00a0<\/span><\/p>\n

United forecast its costs excluding fuel will rise 16% in Q2 compared to 2019.<\/span><\/p>\n

The airline expects to fly 87% of its 2019 schedule this quarter.<\/span><\/p>\n

American Airlines Expects Q2 Profit<\/strong><\/h2>\n

American Airlines <\/b>(AAL) shares are surging 10% ahead of the open after beating Q1 expectations and forecasting a return to profit soon.<\/span><\/p>\n

The airline reported an adjusted loss of $2.32 per share on $8.9 billion in revenue.\u00a0<\/span><\/p>\n

That was better than analysts\u2019 estimates for a loss of $2.40 on $8.826 billion in revenue.<\/span><\/p>\n

American said its revenue March surpassed 2019 levels for the first time since the pandemic began.\u00a0<\/span><\/p>\n

The company forecast Q2 revenue up to 8% higher than three years ago and said it expects to fly 94% of its 2019 schedule this quarter.\u00a0<\/span><\/p>\n

Carvana Drops on Steep Q1 Loss<\/strong><\/h2>\n

Carvana <\/b>(CVNA) shares are tumbling 4.1% in premarket trade after reporting a steeper-than-expected Q1 loss.\u00a0<\/span><\/p>\n

The used-car retailer reported a loss of $2.89 per share and $2.25 billion in revenue.\u00a0<\/span><\/p>\n

Analysts were expecting a per-share loss of $1.44 and $3.4 billion in revenue.\u00a0<\/span><\/p>\n

In its letter to shareholders, Carvana said that loss was caused by higher volume than was needed last quarter.\u00a0<\/span><\/p>\n

The company also cited the spread of the omicron variant and used-car prices as factors that hurt its performance and said it had issues with \u201creconditioning and logistics network disruptions\u201d.<\/span><\/p>\n

Carvana declined to provide Q2 or full-year guidance.<\/span><\/p>\n

Labor Market Remains Tight<\/strong><\/h2>\n

The latest weekly jobless claims report shows the labor market remaining tight.\u00a0<\/span><\/p>\n

The Labor Department reported 184,000 Americans filed initial claims for unemployment benefits last week.\u00a0<\/span><\/p>\n

That was down 1,000 from the previous week and above economists\u2019 expectations for 180,000.<\/span><\/p>\n

Continuing claims fell by 58,000 to 1.417 million vs expectations for 1.459 million.\u00a0<\/span><\/p>\n

The U.S. labor market is nearing full employment levels as businesses struggle to find qualified workers.<\/span><\/p>\n

Oil Prices Up<\/strong><\/h2>\n

Oil prices are higher today as supply concerns remain.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are up more than 1% to over $103 bbl while Brent crude futures are up 1.3% to over $108 bbl.<\/span><\/p>\n

The International Energy Agency reported U.S. crude inventory tumbled by 8 million barrels in the week ending April 15.\u00a0<\/span><\/p>\n

That sharply missed expectations for an increase of 2.5 million barrels.\u00a0<\/span><\/p>\n

U.S. oil exports hit the highest level since March 2020 and imports fell to the lowest level since April 2021.<\/span><\/p>\n

Libya is losing more than 550,000 barrels per day due to production shutdowns at some of its major oil facilities.<\/span><\/p>\n

Analysts expect the oil market to remain volatile as the EU is still considering a ban on Russian oil.\u00a0<\/span><\/p>\n

Fed Beige Book<\/strong><\/h2>\n

The Federal Reserve\u2019s April Beige Book shows the U.S. economy expanded at a \u201cmoderate\u201d pace between March and early April.<\/span><\/p>\n

That report was released Wednesday.<\/span><\/p>\n

Although that growth was an upgrade from the \u201cmodest to moderate\u201d pace in the February Beige Book, the Fed cited uncertainty about the future due to high inflation and the war in Ukraine.\u00a0<\/span><\/p>\n

The bank said, \u201cOutlooks for future growth were clouded by the uncertainty created by recent geopolitical developments and rising prices\u201d.<\/span><\/p>\n

The Beige Book also said the shortage of workers in the labor market remains the biggest obstacle to hiring.<\/span><\/p>\n

Fed Chair Jerome Powell is set to address the International Monetary Fund in a speech about the global economy at 1:00 p.m. ET today.<\/span><\/p>\n

Netflix\u2019s Worst Day In 17 Years<\/strong><\/h2>\n

Netflix <\/b>(NFLX) shares cratered 35.1% on Wednesday, marking the streaming giant\u2019s largest one-day decline since October 15, 2004.<\/span><\/p>\n

That plunge wiped more than $50 billion off the company\u2019s market cap.\u00a0<\/span><\/p>\n

Netflix reported a surprise net loss of 200,000 subscribers in Q1 and forecast a loss of 2 million subscribers in Q2.\u00a0<\/span><\/p>\n

The company blamed its \u201crevenue growth headwinds\u201d on password sharing and increased competition.<\/span>
\n<\/span>
\n<\/span>Netflix estimates more than 100 million global households are sharing passwords.<\/span><\/p>\n

The company warned a crackdown on that practice is in the works.<\/span><\/p>\n

NFLX shares are down 3.2% ahead of the open.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • The National Association of Realtors reported existing home sales fell 2.7% in March to a SAAR of 5.77 million units. The median price of an existing home sold last month hit a new record-high at $375,300. There were 950,000 homes for sale at the end of March, representing a 2-month supply.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Editor’s Note: Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here. ******** DJIA Futures: +237 (+0.7%) SPX Futures: +38 (+0.9%) NASDAQ Futures: +168 (+1.2%) Good morning friends! Futures are higher as traders digest the latest round of Q1 earnings.\u00a0 Let\u2019s get right to it! Tesla Crushes Q1 Expectations Tesla (TSLA) shares are rallying 8.7% ahead of the open after the electric automaker crushed Q1 expectations.\u00a0 The company reported earnings of $3.22 per share on $18.76 billion in revenue.\u00a0 That beat analysts\u2019 expectations for EPS of $2.26 on $17.80 billion in revenue.\u00a0 Revenue surged 81% year-over-year as Tesla delivered a record-high 310,000 vehicles last quarter. The company’s automotive margins jumped to a record 32.9% in Q1. Tesla did not give detailed 2022 guidance but said it expects annual growth of 50% on a multi-year basis. The company did warn supply constraints are expected to continue through the end of this year. United Airlines Forecasts Profit in 2022 United Airlines (UAL) shares are up 8.3% in premarket trade after the airline forecast a return to profitability this year. United\u2019s Q1 performance was weaker than expected. The company reported an adjusted loss of $4.24 per share vs analysts\u2019 expectations for $4.22.\u00a0 $7.57 billion in revenue was shy of analysts\u2019 estimates for $7.68 billion. Fuel costs jumped to $2.88 per gallon in the first quarter, up from $1.74 in 2021 and $2.05 in 2019.\u00a0 United forecast its costs excluding fuel will rise 16% in Q2 compared to 2019. The airline expects to fly 87% of its 2019 schedule this quarter. American Airlines Expects Q2 Profit American Airlines (AAL) shares are surging 10% ahead of the open after beating Q1 expectations and forecasting a return to profit soon. The airline reported an adjusted loss of $2.32 per share on $8.9 billion in revenue.\u00a0 That was better than analysts\u2019 estimates for a loss of $2.40 on $8.826 billion in revenue. American said its revenue March surpassed 2019 levels for the first time since the pandemic began.\u00a0 The company forecast Q2 revenue up to 8% higher than three years ago and said it expects to fly 94% of its 2019 schedule this quarter.\u00a0 Carvana Drops on Steep Q1 Loss Carvana (CVNA) shares are tumbling 4.1% in premarket trade after reporting a steeper-than-expected Q1 loss.\u00a0 The used-car retailer reported a loss of $2.89 per share and $2.25 billion in revenue.\u00a0 Analysts were expecting a per-share loss of $1.44 and $3.4 billion in revenue.\u00a0 In its letter to shareholders, Carvana said that loss was caused by higher volume than was needed last quarter.\u00a0 The company also cited the spread of the omicron variant and used-car prices as factors that hurt its performance and said it had issues with \u201creconditioning and logistics network disruptions\u201d. Carvana declined to provide Q2 or full-year guidance. Labor Market Remains Tight The latest weekly jobless claims report shows the labor market remaining tight.\u00a0 The Labor Department reported 184,000 Americans filed initial claims for unemployment benefits last week.\u00a0 That was down 1,000 from the previous week and above economists\u2019 expectations for 180,000. Continuing claims fell by 58,000 to 1.417 million vs expectations for 1.459 million.\u00a0 The U.S. labor market is nearing full employment levels as businesses struggle to find qualified workers. Oil Prices Up Oil prices are higher today as supply concerns remain.\u00a0 West Texas Intermediate crude futures are up more than 1% to over $103 bbl while Brent crude futures are up 1.3% to over $108 bbl. The International Energy Agency reported U.S. crude inventory tumbled by 8 million barrels in the week ending April 15.\u00a0 That sharply missed expectations for an increase of 2.5 million barrels.\u00a0 U.S. oil exports hit the highest level since March 2020 and imports fell to the lowest level since April 2021. Libya is losing more than 550,000 barrels per day due to production shutdowns at some of its major oil facilities. Analysts expect the oil market to remain volatile as the EU is still considering a ban on Russian oil.\u00a0 Fed Beige Book The Federal Reserve\u2019s April Beige Book shows the U.S. economy expanded at a \u201cmoderate\u201d pace between March and early April. That report was released Wednesday. Although that growth was an upgrade from the \u201cmodest to moderate\u201d pace in the February Beige Book, the Fed cited uncertainty about the future due to high inflation and the war in Ukraine.\u00a0 The bank said, \u201cOutlooks for future growth were clouded by the uncertainty created by recent geopolitical developments and rising prices\u201d. The Beige Book also said the shortage of workers in the labor market remains the biggest obstacle to hiring. Fed Chair Jerome Powell is set to address the International Monetary Fund in a speech about the global economy at 1:00 p.m. ET today. Netflix\u2019s Worst Day In 17 Years Netflix (NFLX) shares cratered 35.1% on Wednesday, marking the streaming giant\u2019s largest one-day decline since October 15, 2004. That plunge wiped more than $50 billion off the company\u2019s market cap.\u00a0 Netflix reported a surprise net loss of 200,000 subscribers in Q1 and forecast a loss of 2 million subscribers in Q2.\u00a0 The company blamed its \u201crevenue growth headwinds\u201d on password sharing and increased competition. Netflix estimates more than 100 million global households are sharing passwords. The company warned a crackdown on that practice is in the works. NFLX shares are down 3.2% ahead of the open. In Case You Missed It The National Association of Realtors reported existing home sales fell 2.7% in March to a SAAR of 5.77 million units. The median price of an existing home sold last month hit a new record-high at $375,300. There were 950,000 homes for sale at the end of March, representing a 2-month supply.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":60955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-60953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=60953"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60953\/revisions"}],"predecessor-version":[{"id":60961,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60953\/revisions\/60961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/60955"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=60953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=60953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=60953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}