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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.
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.
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.
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Mixed Q4 Earnings Report
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.
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.
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.