Categories Earnings, U.S. Markets News

A recap of major earnings reports for the week ended Oct 5

During the first week of October, a few important companies have reported their earnings. Be it Pepsico (PEP) or Costco Wholesale (COST), the companies tend to showcase their results in a nice way, but investors tend to react to the results based on their performance and outlook and the stock movement shows the clear picture. Here is the list of some major companies that reported earnings this week.

Food and beverages giant Pepsico (PEP) reported a 16% jump in earnings for the third quarter helped by tax benefits. Revenue rose by 1.5% driven by strong international divisions operating performance. For the full year, the company lifted its organic revenue growth outlook as existing operations are on the upward drive. However, core EPS guidance was lowered as expenses are drinking away the protein. The stock remained grounded after the earnings announcement.

For the first quarter of fiscal 2019, Paychex’s (PAYX) top line increased 9%, benefitting from the solid growth in human capital management products. The bottom line jumped by 16%. The payroll services company guided management solutions revenue to increase marginally in single-digit and a double-digit growth is predicted from PEO and insurance services revenues. Shares dropped after results. Click to view the graphical view of the results.

Strong homebuilding operations and contributions from CalAtlantic business drove the top line of Lennar Corp. (LEN) higher by 74%, while earnings jumped 82%. The real estate firm has seen an increase in the sales of residential units and new orders. The stock remained mostly positive after the results. A graphical representation of the company’s results can be found here.

Warehouse club operator Costco Wholesale (COST) posted a 13.5% increase in earnings for the fourth quarter on higher sales from stores and online as well as an increase in membership revenue. The bottom line advanced due to the tax benefit related to the change in stock-based compensation rule. The stock hit the bottom and traded lower as the company detected a material weakness in its internal control over financial reporting.

The strength in Specialty Memory business lifted Smart Global Holdings’ (SGH) top line in the fourth quarter upward by 68%. Brazil performance was cited as the main contributor. The specialty memory services maker guided first-quarter profit above consensus. Shares skyrocketed more than 25% to $34.15 on Friday. Click to view the earnings analysis.

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top