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Pre-market futures are mixed at this hour, coming off two strong trading days as Q4 earnings season begins to hit its stride. The Dow is -0.55% currently, while the S&P 500 and Nasdaq are +0.21% and +0.36%, respectively. We don’t see any major economic reports out this Tuesday, but we do see plenty of household-name corporations having reported earnings ahead of today’s opening bell.
Johnson & Johnson (JNJ - Free Report) outpaced estimates on both top and bottom lines for Q4, with earnings of $2.29 per share beating the Zacks consensus by 2 cents, and revenues of $21.40 billion slightly above the $21.11 billion expected. J&J’s Pharma unit brought in $13.72 billion while Medical Device rose +13.3% year over year to $7.67 billion. Next-quarter earnings are anticipated between $10.55-10.75 per share, above the consensus $9.90. Shares are up slightly on the news, and +4% over the past month.
Procter & Gamble (PG - Free Report) posted mixed results for Q4 this morning, easily surpassing on earnings to $1.84 per share from $1.70 expected (and $1.59 per share reported in the prior-year quarter), for an earnings surprise north of +8%. Revenues were slightly below expectations to $21.44 billion, and the company has narrowed guidance for earnings next quarter. Shares are up +3% in today’s pre-market; the stock has been range-bound for the past 10 months or so. For more on PG’s earnings, click here.
General Electric (GE - Free Report) reported what might be the most impressive positive surprises of the morning: earnings of $1.03 per share on quarterly revenues of $19.42 outshone estimates of 90 cents per share and $17.77 billion in expected sales. Next-quarter guidance cooled to 60-65 cents per share, from 69 cents in the Zacks consensus. Shares are trading down -2% at this hour; GE shares are up +37% from the last quarter in 2022.
3M (MMM - Free Report) shares are down more than -7% in today’s pre-market, even as the company beat on top and bottom lines in its Q4 report this morning: earnings of $2.42 per share topped the $2.31 expected (and $2.28 per share reported a year ago), and quarterly sales were up +4.25% from consensus estimates to $8.01 billion. Again, lower guidance looks to be the culprit, although unlike GE, 3M shares are trading less than half where they were five years ago. For more on MMM’s earnings, click here.
Top American homebuilder D.R. Horton (DHI - Free Report) posted a mixed fiscal Q1 this morning, missing bottom-line estimates by 6 cents to $2.82 per share (though higher than the $2.76 per share reported in the year-ago quarter) while revenues of $7.73 billion amounted to a +1.35% positive surprise over the $7.62 billion expected. Unit orders grew +35%, though prices came in lower on average. Shares are down close to -5% in early trading. For more on DHI’s earnings, click here.
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Q4 Earnings for J&J, Procter, GE & More
Pre-market futures are mixed at this hour, coming off two strong trading days as Q4 earnings season begins to hit its stride. The Dow is -0.55% currently, while the S&P 500 and Nasdaq are +0.21% and +0.36%, respectively. We don’t see any major economic reports out this Tuesday, but we do see plenty of household-name corporations having reported earnings ahead of today’s opening bell.
Johnson & Johnson (JNJ - Free Report) outpaced estimates on both top and bottom lines for Q4, with earnings of $2.29 per share beating the Zacks consensus by 2 cents, and revenues of $21.40 billion slightly above the $21.11 billion expected. J&J’s Pharma unit brought in $13.72 billion while Medical Device rose +13.3% year over year to $7.67 billion. Next-quarter earnings are anticipated between $10.55-10.75 per share, above the consensus $9.90. Shares are up slightly on the news, and +4% over the past month.
Procter & Gamble (PG - Free Report) posted mixed results for Q4 this morning, easily surpassing on earnings to $1.84 per share from $1.70 expected (and $1.59 per share reported in the prior-year quarter), for an earnings surprise north of +8%. Revenues were slightly below expectations to $21.44 billion, and the company has narrowed guidance for earnings next quarter. Shares are up +3% in today’s pre-market; the stock has been range-bound for the past 10 months or so. For more on PG’s earnings, click here.
General Electric (GE - Free Report) reported what might be the most impressive positive surprises of the morning: earnings of $1.03 per share on quarterly revenues of $19.42 outshone estimates of 90 cents per share and $17.77 billion in expected sales. Next-quarter guidance cooled to 60-65 cents per share, from 69 cents in the Zacks consensus. Shares are trading down -2% at this hour; GE shares are up +37% from the last quarter in 2022.
3M (MMM - Free Report) shares are down more than -7% in today’s pre-market, even as the company beat on top and bottom lines in its Q4 report this morning: earnings of $2.42 per share topped the $2.31 expected (and $2.28 per share reported a year ago), and quarterly sales were up +4.25% from consensus estimates to $8.01 billion. Again, lower guidance looks to be the culprit, although unlike GE, 3M shares are trading less than half where they were five years ago. For more on MMM’s earnings, click here.
Top American homebuilder D.R. Horton (DHI - Free Report) posted a mixed fiscal Q1 this morning, missing bottom-line estimates by 6 cents to $2.82 per share (though higher than the $2.76 per share reported in the year-ago quarter) while revenues of $7.73 billion amounted to a +1.35% positive surprise over the $7.62 billion expected. Unit orders grew +35%, though prices came in lower on average. Shares are down close to -5% in early trading. For more on DHI’s earnings, click here.
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