Earnings Movers| Adidas Jumped 8% on Earnings Beat; LCID, DDD, SWKS Plunged 10%

US stock market closed slightly up on Monday. Among companies that released earnings, $adidas AG(ADDYY)$ rose 8% as invetories improve; $Lucid Group Inc(LCID)$, $3D(DDD)$ , $Skyworks Solutions(SWKS)$ fell around 10% after missed estimates.

1. ADDYY +8.26%: inventories improve and revenue remained flat despite adverse Yeezy impact

Adidas shares jumped on Friday after the German-based sportswear giant presented better-than-expected first-quarter results that showed strong revenue in Europe, Latin America and Asia Pacific.

Adidas AG reported a loss of €0.18 per share on €5.27B in revenue for Q1 2023, with currency-neutral revenues remaining flat year-over-year despite the adverse impact of the company's breakup with Kanye West's Yeezy brand.

EPS: -€0.09 vs. -€0.17

Revenue: €5.27B vs. €5.06 bln 

2. $Lucid Group Inc(LCID)$ -8.69% after reporting a wider losses than expected

 Luxury electric vehicle maker were down over 8% in after-hours trading after it reported a wider first-quarter loss, but said that it still has enough cash to continue operations into next year.

Lucid’s first-quarter net loss was $779.5 million, or 43 cents per share, much wider than the $81.3 million, or 5 cents per share, it reported in the first quarter of 2022, when it was still ramping up production of the Air.

Revenue, however, jumped year over year to $149.4 million from $57.7 million

EPS: -43 cents vs. -41 cents

Revenue: $149.4 mln vs. $209.9 mln expected

 

3. $3D(DDD)$ -11.44%: earnings and revenue both missed estimates

3D Systems came out with a quarterly loss of $0.09 per share versus the consensus estimate of a loss of $0.08.

This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.

Revenues were $121.24 million for the quarter ended March 2023, missing the consensus estimate by 7.02%. This compares to year-ago revenues of $133 million.

EPS: -$0.09 vs. -$0.08

Revenue: $121.24 mln, missing the consensus estimate by 7.02%

This quarterly report represents an earnings surprise of -12.50%. A quarter ago, it was expected that this maker of 3D printers would post a loss of $0.08 per share when it actually produced a loss of $0.06, delivering a surprise of 25%.

 

4. $Skyworks Solutions(SWKS)$ -8.16% sinks on outlook

 Skyworks Solutions Inc shares fell -8.16% after its sales met expectations and earnings missed estimates. The company also guided for the next quarter.

Skyworks reported adjusted EPS of $2.02, missing estimates of $2.03 per share. However, the company's sales for the quarter came in at $1.15 billion against analyst estimates of $1.15 billion.

Skyworks provided guidance for the third quarter, with revenue expected to be $1.05 billion to $1.09 billion, lower than the analyst estimates of $1.15 billion.

The company expects adjusted EPS to be $1.67 at the midpoint of the revenue range, much lower than the consensus of $2.08.

EPS: $2.02 vs. $2.03

Sales: $1.15 bln vs. $1.15 bln

Revenue guidance: $1.09 bln vs. $1.15 bln

 

# Focus on Q1 Earnings

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment10

  • Top
  • Latest
  • Orange Peel
    ·2023-05-11

    Great ariticle, would you like to share it?

    Reply
    Report
  • ppyys
    ·2023-05-10
    Great ariticle, would you like to share it?
    Reply
    Report
  • Chris1368
    ·2023-05-10

    Great ariticle, would you like to share it?

    Reply
    Report
  • Jam jam
    ·2023-05-10

    Great ariticle, would you like to share it?

    Reply
    Report
  • Seongwai1980
    ·2023-05-09
    [财迷] [财迷]
    Reply
    Report
  • icycrystal
    ·2023-05-10
    thanks for sharing
    Reply
    Report
  • wendytan
    ·2023-05-11
    l
    Reply
    Report
  • henghm
    ·2023-05-10
    like
    Reply
    Report
  • bossbaby
    ·2023-05-10
    Ok
    Reply
    Report
  • enforcer
    ·2023-05-09
    ok
    Reply
    Report