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Apr 26, 2023
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Chipotle Mexican Grill, Inc rose 7.6% to $1,915.0 after the fast food chain operator reported higher earnings driven by new stores and price increases.
Total revenue in the first quarter increased 17.2% to $2.4 billion and comparable restaurant sales advanced 10.9%.
Net income increased to $291.6 million from $158.3 million and diluted earnings per share rose to $10.50 from $5.59 a year ago.
The restaurant operator forecasted second quarter and full-year comparable store sales to increase in mid to high-single digit range and estimated between 255 and 285 new restaurants openings, including 10 to 15 relocations. -
Coca-Cola Company increased 0.5% to $64.35 after the beverage maker reported better-than-expected results in its latest quarter.
Revenue in the first quarter increased 5% to $11.0 billion and net income attributable to shareholders rose 12% to $3.1 billion from $2.8 billion and diluted earnings per share advanced 72 cents from 64 cents a year ago.
Revenue growth was driven by 11% increase in price and volume mix and 1% growth in concentrate sales.
Unit case volume was flat in North America but declined 3% in Europe, Middle East and Africa after prices rose 22% in local currencies. unit case volume surged 10% in Asia Pacific on the price increase of 5%.
Strong growth in unit case volume in Western Europe, Pakistan and South Africa was more than offset by the suspension of business in Russia and the impact of the earthquake in Türkiye in February.
The company reiterated its full-year 2023 revenue growth outlook between 7% and 8% and estimated commodities price inflation in mid single-digit on comparable cost of goods sold. -
First Republic Bank said revenue in the first quarter declined 13.4% from a year ago to $1.2 billion and net interest margin fell 19.4% to $923 million.
Net income in the quarter declined 32.9% to $269 million from $401 million and diluted earnings per share fell to $1.23 from $2.0 a year ago.
On the balance sheet front, loans increased 22.6% from a year ago to $173.3 million, total deposits 35.5% to $104.5 billion and borrowings soared by $101.2 billion to $106.7 billion.
At the end of March, excluding the $30 billion of deposits made by the large U.S. banks, the bank's estimated uninsured deposits totaled $19.8 billion, or 27% of total deposits.
Insured deposits fell moderately during the quarter and have "remained stable" from March 31 through April 21. -
PPG Industries increased 0.8% to $142.55 after the company lifted its full-year outlook.
Revenue increased 2% to $4.3 billion and net income soared to $264 million from $18 million and diluted earnings jumped to $1.11 from 8 cents a year ago.
The company guided flat sales in the second quarter and earnings per share between $1.92 and $2.02 and adjusted earnings per share in the full-year 20223 between $6.95 and $7.25, excluding amortization charges and non-cash pension settlement charges. -
CSX Corporation increased 2.8% to $31.69 after the railroad operator reported first quarter results.
Revenue increased 9% to $3.7 billion and net earnings rose 15% to $987 million from $859 million and diluted earnings per share rose to 48 cents from 39 cents a year ago. -
HCA Healthcare Inc increased 5.1% to $284.67 after the hospital operator reported quarterly results that exceeded expectations.
Revenue in the first quarter increased 3% to $15.6 billion from $14.95 billion and net income edged up to $1.54 billion from $1.46 billion and diluted earnings per share advanced to $4.85 from $4.14 a year ago.
The company lifted its full-year revenue range between $62.5 billion and $64.5 billion from the previous outlook to between $61.5 billion and $63.5 billion.
Net income range was revised higher to between $4.76 billion and $5.16 billion from $4.525 billion and $4.895 billion.
Earnings per share range was revised higher to between $17.25 and $18.55 from the previous outlook between $16.40 and $17.60. -
Procter & Gamble rose 3.7% to $156.50 after the consumer products maker reported better-than-expected quarterly results.
P&G said revenue in the fiscal third quarter ending in March increased 4% to $20.1 billion, driven by 10% increase in prices and 3% decline in volume.
Net income attributable to common stockholders increased 1% to $3.39 billion from $3.35 billion and diluted earnings per share rose to $1.37 from $1.33 a year ago.
The company revised its full-year sales guidance to increase 1% from the previous estimated range between decline of 1% and in-line. -
Schlumberger NV decreased 5.2% to $49.33 after the offshore oil field contractor said revenue increased 30% to $7.7 billion.
Net income in the quarter soared 83% to $934 million from $510 million and diluted earnings per share rose to 65 cents from 36 cents a year ago.
The oilfield services provider guided full-year 2023 capital expenditure between $2.5 billion and $2.6 billion, higher than $2.3 billion in 2022.
During the quarter the company repurchased 4.4 million of its shares at an average price of $52.65 a share totaling $230 million.
The company's board approved a quarterly cash dividend of $0.25 per share of outstanding common stock, payable on July 13 to stockholders of record on June 7. -
Taiwan Semiconductor Manufacturing Company Ltd said first quarter revenue increased 3.6% to NT$508.6 billion and net income advanced 2.1% to NT$206.99 billion and diluted earnings per share edged up to NT$7.98 from NT$7.82 a year ago.
In the U.S. dollars, revenue in the first quarter declined 4.8% from a year ago to $16.72 billion, a decline of 16.1% from a year ago.
In the Taiwanese dollar, compared to the fourth quarter, revenue decreased 18.7% and net income dropped 30%.
In the first quarter, shipments of 5-nanometer accounted for 31% of total revenue and 7-nanometer 20%.
The advanced semiconductor company guided second quarter revenue between $15.2 billion and $16.0 billion and gross margin between 52% and 54%. -
Pool Corporation said net sales in the first quarter declined 15% to $1.2 billion from $1.4 billion in the first quarter of 2022 following a 33% rise in the period in 2022 and 57% jump in the quarter in 2021.
Because of unusually cold and wet weather in Western U.S., including Arizona and California where base business plunged 21%.
Net income declined 43% to $101.7 million from $179.3 million and diluted earnings per share fell to $2.58 from $4.41 a year ago.
The company updated the annual earnings guidance range to $14.62 to $16.12 per diluted share from the previous estimated range between $16.03 and $17.03.
On February 24, Pool Corp hiked its quarterly dividend to $1.0 a share from 80 cents a year ago payable on March 29 to stockholders of record on March 15.
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