Visualization of growth in the COVID-19 impacted quarters

The first and second quarter of 2020 were unusual in many ways. More than a third of S&P500 companies temporarily or permanently withdrew guidance for the full year due to uncertainty surrounding impacts from COVID-19 according to FactSet. This article seeks to visualize the growth in each of the two quarters by sector and industry. […]

BorgWarner to Acquire Delphi Technologies in All-Stock Transaction to Strengthen Propulsion Systems Leadership

BorgWarner ($BWA) is to acquire Delphi Technologies ($DLPH) to strengthen its propulsion systems leadership. The all-stock transaction happens at a time, when both companies are trading at low multiples. $DLPH is up ~60%, whereas $BWA is down ~7%. Below is a summary of the segments of the two S&P500 companies and some of the powertrain […]

European earnings calendar

The earnings season in the US has kicked off with earnings from the banks JP Morgan ($JPM) and Wells Fargo ($WFC). Below are the earnings date for selected European and Nordic publicly listed companies. The companies are mostly constituents of the indices EURO STOXX 50®, STOXX® Europe 50 and OMX Nordic 40.

European earnings calendar

Three important indexes in Europe are the STOXX Europe 50 for Europe and the EURO STOXX 50 for the Eurozone and the S&P 350 Europe. The EURO STOXX 50 Index, Europe’s leading blue-chip index for the Eurozone, provides a blue-chip representation of supersector leaders in the region. The STOXX Europe 50 Index, Europe’s leading Blue-chip […]

Costco comparable store sales miss estimates

Costco [COST] issued a press release on their quarterly results after markets closed. Quarterly results Comparable store sales missed estimates and the growth is slowing down in all segments. The US segment represents three quarters of the overall revenue. Comparison with peers Costco has very low gross margins relative to its peers, and despite its […]

Constellation Brands takes a hit from Canopy Growth

Constellations Brands issued a press release on its quarterly results before markets opened. Canopy equity loss All segments performed well in terms of both shipment volume, revenue and profit. But due to continued Canopy equity losses Constellation Brands yet again reported negative earnings for the quarter. The announcement of a positively revised outlook in terms […]

PepsiCo will meet or exceed its full-year organic revenue growth target of four percent

PepsiCo issued a press release regarding its quarterly results before the market opened. CEO comments The financial results were accompanied by the following comments by CEO Ramon Laguarta. “We are pleased with our results for the third quarter. While adverse foreign exchange translation negatively impacted reported net revenue performance, organic revenue growth was 4.3% in […]

HP to lay off 7000-9000 of its 55,000 employees

HP Inc. [HPQ] has announced its 2020 outlook and restructuring plan in a press release with the following headlines. Estimates GAAP diluted net earnings per share (“EPS”) for fiscal 2020 of $1.98 to $2.10 Estimates non-GAAP diluted net EPS for fiscal 2020 of $2.22 to $2.32 Estimates fiscal 2020 free cash flow of at least […]

Profit margins stabilising at H&M

H&M released their nine month report prior to the market opening on October 3rd. Some of the headlines from that report are: With well-received summer collections, the H&M group’s net sales increased by 12 percent to SEK 62,572 m (55,821) in the third quarter. In local currencies, net sales increased by 8 percent compared with […]

McCormick shows strong growth in the third quarter

McCormick [MKC] has issued a press release on its third quarter earnings. The company increased its full year earnings per share outlook. Strong growth was shown in volume/mix and net sales despite currency headwinds and weaknesses in the flavor solutions segment and the EMEA consumer segments. The headlines of the quarter were as follows. McCormick […]