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Massive Q4 Earnings Beats: Ford, Pinterest, Peloton & More
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It’s a massive afternoon for new earnings reports Thursday, as earnings season crosses into its latter regions going forward. Many of the marquee names, like FAANG and the big Wall Street banks, have already reported results for the quarter. There are so many hitting the tape in after-hours, we only have time to touch on a few of them here:
Zacks Rank #1 (Strong Buy)-rated Ford (F - Free Report) is up 2.5% in late trading following Q4 figures beyond expectations, especially on the earnings side: what was supposed to bring a loss of 7 cents per share instead turned out to be a gain of 34 cents for the quarter, nearly three times higher than the 12 cents posted in the year-ago quarter. Revenues of $33.2 billion took out the $32.9 billion expected in the Zacks consensus. It’s the third-straight earnings beat for the automaker giant.
There were some caveats beneath the positive headline numbers, however — the industry-wide chip shortage is expected to negatively affect Q1 production by 10-20%, and potentially hitting full-year 2021 revenues by between $1-2.5 billion. That said, Ford announced an ambitious acceleration into the electric vehicle (EV) market, whereby the company will be doubling its investment to $22 billion through 2025. Ford will also be spending $7 billion on the development of autonomous vehicles.
Pinterest (PINS - Free Report) shot up 10% initially on its Q4 earnings figures, with 43 cents per share topping expectations of 32 cents, while sales in the quarter of $706 million easily outpaced the $645.7 million anticipated. Monthly Active Users (MAU) rose higher than expected to 459 million, with a 50% increase in boards created globally. Shopping ad revenue grew faster than the overall business in the quarter. Shares have settled down a bit in late trading, now up 7.5% since the earnings release.
Peloton (PTON - Free Report) outperformed on its bottom line to 18 cents per share from 10 cents expected (and -20 cents reported in the year-ago quarter), on $1.06 billion in quarterly sales which beat the $103 billion in the Zacks consensus, up 128% year over year. Connected fitness subscriptions grew 134% in the quarter, with digital subscriptions up 472% year over year following a successful holiday quarter. However, $100 million in freight shipping costs to boost deliveries will weigh on earnings going forward. Shares are down 8% on this news, though up 120% in the past six months.
Gilead Sciences (GILD - Free Report) turned in a solid Q4 performance as well, with $2.19 per share reported beating estimates by four cents, and $7.42 billion in revenues for the quarter making easy work of the $7.11 billion expected. Remdesivir sales — the antiviral used to treat Covid-19 symptoms — brought in $1.9 billion during the quarter, which was higher than expected. Shares of the biotech major are up 2% in late trading, +9.5% year to date.
Finally, T-Mobile U.S. (TMUS - Free Report) took out expectations on top and bottom lines for its Q4 as well: 60 cents per share improved from the 51 cents expected (though still behind the 87 cents per share from the year-ago quarter), while $20.34 billion in sales for the quarter beat the $19.97 billion analysts were looking for, and +70% year over year. After absorbing Sprint into its fold over the past year, T-Mobile is now the #2 telecom carrier in the U.S. behind Verizon. Shares are down 2% in late trading, even though the company posted its best earnings year ever.
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.
These 7 were selected because of their superior potential for immediate breakout.
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Massive Q4 Earnings Beats: Ford, Pinterest, Peloton & More
It’s a massive afternoon for new earnings reports Thursday, as earnings season crosses into its latter regions going forward. Many of the marquee names, like FAANG and the big Wall Street banks, have already reported results for the quarter. There are so many hitting the tape in after-hours, we only have time to touch on a few of them here:
Zacks Rank #1 (Strong Buy)-rated Ford (F - Free Report) is up 2.5% in late trading following Q4 figures beyond expectations, especially on the earnings side: what was supposed to bring a loss of 7 cents per share instead turned out to be a gain of 34 cents for the quarter, nearly three times higher than the 12 cents posted in the year-ago quarter. Revenues of $33.2 billion took out the $32.9 billion expected in the Zacks consensus. It’s the third-straight earnings beat for the automaker giant.
There were some caveats beneath the positive headline numbers, however — the industry-wide chip shortage is expected to negatively affect Q1 production by 10-20%, and potentially hitting full-year 2021 revenues by between $1-2.5 billion. That said, Ford announced an ambitious acceleration into the electric vehicle (EV) market, whereby the company will be doubling its investment to $22 billion through 2025. Ford will also be spending $7 billion on the development of autonomous vehicles.
Pinterest (PINS - Free Report) shot up 10% initially on its Q4 earnings figures, with 43 cents per share topping expectations of 32 cents, while sales in the quarter of $706 million easily outpaced the $645.7 million anticipated. Monthly Active Users (MAU) rose higher than expected to 459 million, with a 50% increase in boards created globally. Shopping ad revenue grew faster than the overall business in the quarter. Shares have settled down a bit in late trading, now up 7.5% since the earnings release.
Peloton (PTON - Free Report) outperformed on its bottom line to 18 cents per share from 10 cents expected (and -20 cents reported in the year-ago quarter), on $1.06 billion in quarterly sales which beat the $103 billion in the Zacks consensus, up 128% year over year. Connected fitness subscriptions grew 134% in the quarter, with digital subscriptions up 472% year over year following a successful holiday quarter. However, $100 million in freight shipping costs to boost deliveries will weigh on earnings going forward. Shares are down 8% on this news, though up 120% in the past six months.
Gilead Sciences (GILD - Free Report) turned in a solid Q4 performance as well, with $2.19 per share reported beating estimates by four cents, and $7.42 billion in revenues for the quarter making easy work of the $7.11 billion expected. Remdesivir sales — the antiviral used to treat Covid-19 symptoms — brought in $1.9 billion during the quarter, which was higher than expected. Shares of the biotech major are up 2% in late trading, +9.5% year to date.
Finally, T-Mobile U.S. (TMUS - Free Report) took out expectations on top and bottom lines for its Q4 as well: 60 cents per share improved from the 51 cents expected (though still behind the 87 cents per share from the year-ago quarter), while $20.34 billion in sales for the quarter beat the $19.97 billion analysts were looking for, and +70% year over year. After absorbing Sprint into its fold over the past year, T-Mobile is now the #2 telecom carrier in the U.S. behind Verizon. Shares are down 2% in late trading, even though the company posted its best earnings year ever.
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