Only a handful of S&P 500 names disclosed their earnings this week, most of them belonging to the retail sector. Here is a recap of all the companies that reported their quarterly results.
Six companies reported, five from the retail side and one from technology, out of which all of them beat on EPS except Dollar Tree, which had it in line. For revenue, only Dollar Tree and J. M. Smucker missed consensus.
Of the 482 companies that have reported quarter-to-date, about 78.8% of them beat on earnings per share, while about 54.3% of them topped revenue consensus.
HP Enterprise (HPE) on Tuesday after the bell reported second-quarter results and boosted its full-year guidance. Revenue from the server segment, its largest, jumped 18% year-over-year to $3.9B as AI revenue “doubled sequentially,” above the company’s prior guidance. Looking to Q3, it expects to earn between $0.43 and $0.48 per share, with revenue between $7.4B and $7.8B. Analysts were looking for earnings of $0.46 per share and $7.45B in sales. The company also updated its full-year guidance and now sees revenue growth between 1% and 3% on a constant currency basis, compared to a prior view of flat to 2% growth. Adjusted earnings are expected to be between $1.85 and $1.95 per share, with the midpoint above the $1.88 estimate.
Dollar Tree (DLTR) posted mixed Q1 results on Wednesday and notably also confirmed its review of strategic alternatives for the Family Dollar business, which could include, among others, a potential sale, spin-off, or other disposition of the business. The retailer reiterated its full-year fiscal 2024 consolidated net sales outlook range of $31.0 billion to $32.0 billion and expects to deliver comparable net sales growth in the low-to-mid-single digits for the enterprise, mid-single-digits in the Dollar Tree segment, and low-single-digits in the Family Dollar segment. Adjusted diluted EPS is expected to range from $6.50 to $7.00 vs. $6.89 consensus.
Campbell Soup (CPB) beat consensus estimates with its Q3 earnings report, driven by the benefit from the Sovos Brands acquisition, and set favorable guidance for the remainder of the year. The food giant sees FY net sales growth of +3% to +4% and FY adjusted EPS of $3.07 to $3.10, compared to the prior outlook for $3.09 to $3.15 and the consensus estimate of $3.06.
Lululemon (LULU) shares soared after hours on Wednesday after the yogawear company beat Q1 profit and revenue estimates, navigating shifting consumer tastes and retaining its top spot in the market, and raised its FY25 EPS forecast above Wall Street’s expectations. For the remainder of the year, the company expects EPS between $14.27 and $14.47 per share, versus $14.17 per share consensus. Revenue is reaffirmed at $10.7B to $10.8B, straddling the consensus estimate of $10.76B.