Wednesday, January 23, 2019
We again start another (pre-)trading day without any notable economic metrics to mull over; however, at least today the reason is that none were scheduled. The partial U.S. government shutdown — now in Day 33, with only modest rumblings in Congress currently about bringing it to an end — has piled up plenty of data industry analysts find useful. For now, researchers are getting their data from private sources or relying on past trends to chart a way forward.
The good news is that Q4 earnings season continues to shift to a higher gear, and this morning we’ve got plenty more Q4 reports to tuck into. And we can see by pre-market trading solidly in the green that some of the marquee names reporting ahead of today’s opening bell that most of these results came in favorably.
Q4 Earnings Roundup
Zacks Rank #2 (Buy)-rated Procter & Gamble (PG - Free Report) outperformed expectations on both top and bottom lines for its Q4 report: $1.25 per share beat the Zacks consensus by 4 cents, and was up from $1.19 per share reported a year ago; revenues in the quarter topped estimates by 1.43% to $17.44 billion — modestly up year over year. The last time this company missed earnings estimates was way back in Q3 2014 — almost 4 1/2 years ago. Shares are trading up 4% in today’s early session. For more on PG’s earnings, click here.
Comcast (CMCSA - Free Report) , a Zacks Rank #3 (Hold)-rated company, also topped expectations for the quarter, with 64 cents per share 2 cents ahead of estimates on revenues up 8% from the Zacks consensus to $27.85 billion, and well up from the $21.92 billion reported a year ago. Its last miss was also a while back: Q4 of 2015. Currently, shares are up 3% in pre-market trading. For more on CMCSA’s earnings.
Paper goods giant Kimberly-Clark (KMB - Free Report) , however, posted an earnings miss for the quarter: $1.60 per share versus the $1.68 anticipated. Revenues, on the other hand, rose 2.4% from expectations to $4.57 billion in the quarter. But this has not been enough so far to boost stocks in the pre-market; shares are currently down 3.7%. For more on KMB’s earnings, click here.
Perhaps the most impressive quarterly beat this morning comes from defense and industrial conglomerate United Technologies Corp. (UTX - Free Report) , which blew the doors off both top and bottom-line expectations: $1.95 per share as compared to $1.51 in the Zacks consensus. Revenues of $18.04 billion zoomed past the $16.79 billion our analysts had been looking for, up 15% year over year. Impressive growth in its Pratt & Whitney unit and Collins Aerospace led the way, up 24% and 29%, respectively. Shares are up 5.5% at this early hour. For more on UTX’s earnings, click here.
Questions or comments about this article and/or its author? Click here>>
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>