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These 3 Companies Are Shattering Quarterly Records
We continue to navigate through earnings season, seeing plenty of quarterly prints delivered daily. The period has been primarily positive so far, underpinned by a notably strong performance from several of the Mag 7 members and the technology sector overall.
So far, we’ve gotten plenty of positive results, with several companies, including Apple (AAPL - Free Report) , Decker’s Outdoor (DECK - Free Report) , and Alphabet (GOOGL - Free Report) posting quarterly records across different metrics. What was there to like in each respective release? Let’s take a closer look.
Deckers Outdoor
Deckers Outdoor, a current Zacks Rank #1 (Buy), is a leading designer, producer, and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities.
Concerning headline figures, DECK posted a 32% beat relative to the Zacks Consensus EPS estimate and reported sales 8.5% ahead of expectations, reflecting growth rates of 44% and 16%, respectively. Impressively, EPS of $15.11 and revenue of $1.6 million reflected quarterly records, driven by strength across its brands.
Below is a chart illustrating the company’s revenue on a quarterly basis.
Image Source: Zacks Investment Research
Notably, the company’s UGG and HOKA brands were standout performers, with sales of each growing 15% and 22% from the year-ago period, respectively. Deckers provided bright guidance following the release, now expecting net sales of $4.15 billion and a gross margin of 54.5%.
Analysts took their earnings expectations higher following the release, with the $26.59 Zacks Consensus EPS estimate for its current fiscal year suggesting 37% year-over-year growth.
Image Source: Zacks Investment Research
Apple
Apple posted quarterly revenue of $119.6 billion and record EPS of $2.18, reflecting growth rates of 2% and 16%, respectively. EPS wasn’t the only quarterly record, as Services revenue of $23.1 billion reached its highest mark yet and grew 11% year-over-year.
While Services results were primarily positive, it’s worth noting that the reported figure modestly fell short of the Zacks Consensus estimate.
Image Source: Zacks Investment Research
iPhone revenue positively surprised, reported at $69.7 billion and improving 6% from the year-ago period. Apple shares faced adverse price action following the release, particularly stemming from demand worries in China. Revenues in China totaled $20.8 billion, moving 13% lower year-over-year.
Apple shares have slightly underperformed relative to the S&P 500 over the last year, adding 22% in value vs. a 24.4% gain. While the performance hasn’t been as robust as that of other members of the Mag 7, shares have been a safe haven for investors seeking business stability in a somewhat cloudy economic environment, particularly thanks to Apple’s cash-generating abilities.
Image Source: Zacks Investment Research
Alphabet
Alphabet posted a 2.5% beat relative to the Zacks Consensus EPS estimate, reflecting the fourth consecutive period of exceeding bottom line expectations. Quarterly revenue totaled a mighty $86.3 billion, reflecting a quarterly record and growing 13% year-over-year.
Image Source: Zacks Investment Research
There were several notable highlights from the release, including YouTube ad revenue growing 15% year-over-year and Google Cloud operating income of $864 million well above the loss of -$186 million in the year-ago period.
GOOGL shares aren’t overly stretched regarding valuation, with the current 21.8X forward earnings multiple (F1) beneath the five-year median and comparing favorably to the Zacks Technology sector average of 27.4X.
The company’s earnings are forecasted to climb 16% in its current year (FY24) on 12% higher sales.
Image Source: Zacks Investment Research
Bottom Line
Earnings season continues chugging along, delivering us surprises daily. We’ve gotten through a fair amount of results so far, with over two-thirds of S&P 500 members already posting quarterly results.
Image: Bigstock
These 3 Companies Are Shattering Quarterly Records
We continue to navigate through earnings season, seeing plenty of quarterly prints delivered daily. The period has been primarily positive so far, underpinned by a notably strong performance from several of the Mag 7 members and the technology sector overall.
So far, we’ve gotten plenty of positive results, with several companies, including Apple (AAPL - Free Report) , Decker’s Outdoor (DECK - Free Report) , and Alphabet (GOOGL - Free Report) posting quarterly records across different metrics. What was there to like in each respective release? Let’s take a closer look.
Deckers Outdoor
Deckers Outdoor, a current Zacks Rank #1 (Buy), is a leading designer, producer, and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities.
Concerning headline figures, DECK posted a 32% beat relative to the Zacks Consensus EPS estimate and reported sales 8.5% ahead of expectations, reflecting growth rates of 44% and 16%, respectively. Impressively, EPS of $15.11 and revenue of $1.6 million reflected quarterly records, driven by strength across its brands.
Below is a chart illustrating the company’s revenue on a quarterly basis.
Image Source: Zacks Investment Research
Notably, the company’s UGG and HOKA brands were standout performers, with sales of each growing 15% and 22% from the year-ago period, respectively. Deckers provided bright guidance following the release, now expecting net sales of $4.15 billion and a gross margin of 54.5%.
Analysts took their earnings expectations higher following the release, with the $26.59 Zacks Consensus EPS estimate for its current fiscal year suggesting 37% year-over-year growth.
Image Source: Zacks Investment Research
Apple
Apple posted quarterly revenue of $119.6 billion and record EPS of $2.18, reflecting growth rates of 2% and 16%, respectively. EPS wasn’t the only quarterly record, as Services revenue of $23.1 billion reached its highest mark yet and grew 11% year-over-year.
While Services results were primarily positive, it’s worth noting that the reported figure modestly fell short of the Zacks Consensus estimate.
Image Source: Zacks Investment Research
iPhone revenue positively surprised, reported at $69.7 billion and improving 6% from the year-ago period. Apple shares faced adverse price action following the release, particularly stemming from demand worries in China. Revenues in China totaled $20.8 billion, moving 13% lower year-over-year.
Apple shares have slightly underperformed relative to the S&P 500 over the last year, adding 22% in value vs. a 24.4% gain. While the performance hasn’t been as robust as that of other members of the Mag 7, shares have been a safe haven for investors seeking business stability in a somewhat cloudy economic environment, particularly thanks to Apple’s cash-generating abilities.
Image Source: Zacks Investment Research
Alphabet
Alphabet posted a 2.5% beat relative to the Zacks Consensus EPS estimate, reflecting the fourth consecutive period of exceeding bottom line expectations. Quarterly revenue totaled a mighty $86.3 billion, reflecting a quarterly record and growing 13% year-over-year.
Image Source: Zacks Investment Research
There were several notable highlights from the release, including YouTube ad revenue growing 15% year-over-year and Google Cloud operating income of $864 million well above the loss of -$186 million in the year-ago period.
GOOGL shares aren’t overly stretched regarding valuation, with the current 21.8X forward earnings multiple (F1) beneath the five-year median and comparing favorably to the Zacks Technology sector average of 27.4X.
The company’s earnings are forecasted to climb 16% in its current year (FY24) on 12% higher sales.
Image Source: Zacks Investment Research
Bottom Line
Earnings season continues chugging along, delivering us surprises daily. We’ve gotten through a fair amount of results so far, with over two-thirds of S&P 500 members already posting quarterly results.
Concerning positivity, all three companies above – Apple (AAPL - Free Report) , Decker’s Outdoor (DECK - Free Report) , and Alphabet (GOOGL - Free Report) – broke quarterly records.