3M (MMM) reported earnings on Tue 26 Jan 21 (b/o)

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3M CEO CEO Mike Roman 

3M beats by $0.21, beats on revs; guides FY21 EPS in-line, revs in-line

Reports Q4 (Dec) earnings of $2.38 per share, $0.21 better than the S&P Capital IQ Consensus of $2.17; revenues rose 5.8% year/year to $8.58 bln vs the $8.39 bln S&P Capital IQ Consensus.

• Organic local-currency sales increased 5.5 percent while acquisitions, net of divestitures, decreased sales by 1.1 percent.

Co issues in-line guidance for FY21, sees EPS of $9.20-9.70 vs. $9.52 S&P Capital IQ Consensus; sees FY21 revs of +5-8% (implying $33.8-34.8 bln) vs. $33.95 bln S&P Capital IQ Consensus.

• Organic local-currency growth between 3 to 6 percent

3M (MMM) reported earnings on Tue 27 Oct 20 (b/o)

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3M beats by $0.16, reports revs in-line; no FY20 guidance

Reports Q3 (Sep) earnings of $2.43 per share, excluding non-recurring items, $0.16 better than the S&P Capital IQ Consensus of $2.27; revenues rose 4.5% year/year to $8.35 bln vs the $8.38 bln S&P Capital IQ Consensus.

Due to the continued evolving and uncertain impact of the COVID-19 pandemic, 3M is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy. Therefore, 3M continues to believe it is prudent to not provide guidance.

The company estimates total sales for October to be flat to up low-single digits year-on-year. This estimate includes the anticipated impact of one fewer business day in October 2020 versus October 2019.

Crocs (CROX) reported earnings on Tue 27 Oct 20 (b/o)

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Crocks CEO Andrew Rees (CNBC, 10/27/20)

Crocs beats by $0.24, beats on revs; provides guidance excluding impact of COVID-19

Reports Q3 (Sep) earnings of $0.94 per share, excluding non-recurring items, $0.24 better than the S&P Capital IQ Consensus of $0.70; revenues rose 15.6% year/year to $361.7 mln vs the $343.98 mln S&P Capital IQ Consensus.

Guidance: "In these unprecedented times, we will continue to provide forward visibility when appropriate. Excluding the potential impact of any future COVID-related shutdowns in major markets, we expect: Revenues: Fourth quarter revenue to grow between 20% and 30% compared to 2019. This translates into full year 2020 revenue growth of approximately 5% to 7%. Tax rate: A 2020 tax rate of approximately 11% as we project to utilize deferred tax assets that were previously subject to a valuation allowance. Capital expenditures: Approximately $50 million of capital expenditures for 2020, which reflects investment to support future growth."

Intel (INTC) reported earnings on Thur 22 Oct 20 (a/h)

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Intel CEO Bob Swan

Intel reports EPS in-line, revs in-line; guides Q4 EPS in-line, revs in-line, DCG's Enterprise & Govt segment revs down 47%, co guides to sequential decline in non-GAAP op mgn

Reports Q3 (Sep) earnings of $1.11 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $1.11; revenues fell 4.5% year/year to $18.33 bln vs the $18.26 bln S&P Capital IQ Consensus.

• Non-GAAP operating margin was 29.4% vs prior guidance of 30%.
• Q3 revenue was ahead of prior expectations driven by continued strength in notebook sales, which helped offset COVID-driven headwinds affecting significant portions of its business.

In the Data Center Group (DCG), Cloud revenue grew 15% yr/yr on continued demand to support vital services in a work and learn-at-home environment.

• At the same time, a weaker economy due to COVID-19 impacted DCG's Enterprise & Government market segment, which was down 47% following two quarters of more than 30%.
• The pandemic also weighed on Q3 data-centric results in the Internet of Things Group and the memory business (NSG).
• Mobileye revenue returned to growth in the third quarter as global vehicle production improved.

The PC-centric business (CCG) was up 1% yr/yr on continued notebook strength to support the work- and learn-at-home dynamics of COVID-19.

• In Q3, co launched the world's best processor for thin and light laptops, 11th Gen Intel Core processors with Intel Iris Xe graphics (formerly known as "Tiger Lake").
• More than 150 designs from major PC makers are in development, including 100 designs expected to be in market by the end of this year with more than 40 verified under the new Intel Evo platform brand.

Intel's third 10nm manufacturing facility, which is located in Arizona, is now fully operational and the company now expects to ship 30% higher 10nm product volumes in 2020 compared to January expectations.

Co issues in-line guidance for Q4, sees EPS of approx $1.10, excluding non-recurring items, vs. $1.08 S&P Capital IQ Consensus; sees Q4 revs of approx $17.40 bln vs. $17.39 bln S&P Capital IQ Consensus. Co guides to Q4 non-GAAP operating margin of 26.5%.

Kimberly-Clark (KMB) reported earnings on Thur 22 Oct 2020 (b/o)

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Kimberly-Clark CEO Michael Hsu

Kimberly-Clark products

Kimberly-Clark misses by $0.01, beats on revs; raises FY20 EPS and revenue guidance

Reports Q3 (Sep) earnings of $1.72 per share, excluding non-recurring items, $0.01 worse than the S&P Capital IQ Consensus of $1.73; revenues rose 0.9% year/year to $4.68 bln vs the $4.59 bln S&P Capital IQ Consensus.

Co issues guidance for FY20, sees EPS of $7.50-7.65, excluding non-recurring items, vs. $7.70 S&P Capital IQ Consensus and vs prior guidance of $7.40-7.60; raises FY20 revenue growth rate to +2-3% from +1-2%; we compute the new guidance as $18.82-19.00 bln vs. $18.84 bln S&P Capital IQ Consensus.

-==Coca-Cola (KO) reported earnings on Thur 22 Oct 2020 (b/o)

 

CEO James Quincy (22 Oct 2020)

Coca-Cola beats by $0.09, beats on revs; refrains from providing FY20 guidance

Reports Q3 (Sep) earnings of $0.55 per share, $0.09 better than the S&P Capital IQ Consensus of $0.46; revenues fell 9.0% to $8.65 bln vs the $8.37 bln S&P Capital IQ Consensus; Organic revenues (non-GAAP) declined 6%.

• Price/mix declined 3% for the quarter driven by negative channel and package mix due to the impact of the coronavirus pandemic.
• Unit case volume declined 4%, as continued strength in at-home channels was more than offset by coronavirus related pressure in away-from-home channels.

Since the company's last earnings update in July, global unit case volume trends have continued to improve. The pace in the third quarter was more gradual than the second quarter, and the percentage decline in global unit case volume for October month-to-date was low single digits. The company is seeing an elevated level of sales in at-home channels being more than offset by ongoing pressure in away-from-home channels, which are affected by the level of lockdown in a particular market.

The company lost value share in total nonalcoholic ready-to-drink (NARTD) beverages as an underlying share gain was more than offset by negative channel mix due to continued pressure in away-from-home channels, where the company has a strong share position.

As the coronavirus pandemic continues to evolve, there is uncertainty around its ultimate impact; therefore, the company's full year financial and operating results cannot be reasonably estimated at this time.

-==Chipotle Mexican Grill (CMG) reported earnings on Wed 21 Oct 2020 (a/h)

 

Chipotle Mexican Grill beats by $0.32, reports revs in-line, comps +8.3%

Reports Q3 (Sep) earnings of $3.76 per share, excluding non-recurring items, $0.32 better than the S&P Capital IQ Consensus of $3.44; revenues rose 14.1% year/year to $1.60 bln vs the $1.59 bln S&P Capital IQ Consensus.

• Comparable restaurant sales increased +8.3%.
• Digital sales grew 202.5% yr/yr to $776.4 mln and represented 48.8% of sales. About half of the digital sales were via delivery, benefiting from expanded partnerships, with the remainder coming from order ahead transactions as guests better understand the value offered by this channel, as well as the convenience of more Chipotlanes.

Whirlpool (WHR) reported earnings on Wed 21 Oct 2020 (a/h)

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Whirlpool CEO Marc Bitzer

Whirlpool beats by $2.71, beats on revs; guides FY20 EPS above consensus, revs above consensus

Reports Q3 (Sep) earnings of $6.91 per share, excluding non-recurring items, $2.71 better than the S&P Capital IQ Consensus of $4.20; revenues rose 3.9% year/year to $5.29 bln vs the $4.76 bln S&P Capital IQ Consensus.

• Organic net sales +7%, driven by solid industry demand across the globe

Co issues upside guidance for FY20, sees EPS of $17.50-18.00, excluding non-recurring items, vs. $13.71 S&P Capital IQ Consensus; sees FY20 revs of -5-7% (implying $19-19.4 bln) vs. $18.24 bln S&P Capital IQ Consensus.

• Expects FY 20 organic net sales of 0% to a decline of 1%

Datadog (DDOG) reported earnings on Thur 6 Aug 20 (a/h)

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CEO Olivier Pomel on CNBC on Jan 6,2021

Datadog beats by $0.04, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY20 EPS above consensus, revs above consensus

Reports Q2 (Jun) earnings of $0.05 per share, $0.04 better than the S&P Capital IQ Consensus of $0.01; revenues rose 68.2% year/year to $140.01 mln vs the $135.41 mln S&P Capital IQ Consensus.

Co issues upside guidance for Q3, sees EPS of $0.00 to $0.01 vs. ($0.01) S&P Capital IQ Consensus; sees Q3 revs of $143 mln to $145 mln vs. $140.22 mln S&P Capital IQ Consensus.

Co issues upside guidance for FY20, sees EPS of $0.11 to $0.13 vs. $0.05 S&P Capital IQ Consensus; sees FY20 revs of $566 mln to $572 mln vs. $563.63 mln S&P Capital IQ Consensus.

=Roku (ROKU) reported earnings on Wed 6 Nov 19 (a/h)

ROKU CEO Anthony Wood, 6 Jan 2021

Roku beats by $0.03, beats on revs; guides Q4 revs in-line; raises FY19 revenue, gross profit, lowers EBITDA outlook due to dataxu acquisition

Reports Q3 (Sep) loss of $0.22 per share, $0.03 better than the S&P Capital IQ Consensus of ($0.25); revenues rose 50.5% year/year to $260.9 mln vs the $257.64 mln S&P Capital IQ Consensus. Platform revenue of $179.3 million, up 79% YoY; Active Accounts of 32.3 million, a net addition of 1.7 million over last quarter; Streaming Hours increased 0.9 billion hours over last quarter, to 10.3 billion; Average Revenue Per User (ARPU) of $22.58 (Trailing Twelve Months), up 30% YoY; Gross Profit of $118.5 million, up 50% YoY; and Roku monetized video ad impressions again more than doubled YoY.

Co issues in-line guidance for Q4, sees Q4 revs of $380-396 mln vs. $386.76 mln S&P Capital IQ Consensus. EBITDA $7-12 mln vs. $25 mln ests.

 "We are increasing our revenue and gross profit outlook for 2019 reflecting our strong Q3 performance and the inclusion of dataxu for part of Q4. Our raised revenue outlook midpoint of $1.106 billion represents roughly 49% year-over-year growth, up from 46% year over-year in our prior outlook. We expect Platform revenue to represent roughly two-thirds of total revenue including ~$13 million in revenue from dataxu. We are raising our total gross profit outlook for 2019 to roughly $492 million at the midpoint, up from roughly $485 million previously. We have updated our 2019 adjusted EBITDA outlook midpoint to $30 million from $35 million previously reflecting continued investment in the business as well as an ~$5 million headwind to adjusted EBITDA in Q4 related to dataxu operations and dataxu acquisition related expenses.

"We continue to execute well against our long-term strategic plan as the TV market shifts to streaming. In Q3, we beat our outlook for revenue, gross profit, and adjusted EBITDA. Our business momentum and competitive differentiation make Roku an essential partner for content publishers and advertisers. This is evident in the launch of major new streaming services on our platform and by the growth in the number of advertisers who work with Roku. We believe the dataxu acquisition will accelerate our platform's advertising technology roadmap, strengthen our already industry-leading TV streaming platform and give us the opportunity to create an even more appealing offering for advertisers."