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The Daily Earnings Reports Podcast
The Daily Earnings Reports Podcast
100 episodes
9 months ago
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Investing
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Episodes (20/100)
The Daily Earnings Reports Podcast
Johnson & Johnson (JNJ) Q4 2024 Earnings Breakdown
Key Highlights: Overall Growth: Worldwide sales increased by 5.3% in 4Q24 and 4.3% for the full year. However, when excluding currency impacts, operational growth reached 6.7% for 4Q24 and 5.9% for the full year, showing the strength of underlying business performance. "Worldwide 22,520$ 21,395 5.3 % 6.7 (1.4) 88,821$ 85,159 4.3 % 5.9 (1.6)" U.S. Strength: The U.S. market demonstrated robust growth, with a 10.0% sales increase in both 4Q24 and the full year. "U.S. 13,204$ 12,009 10.0 % 10.0 - 50,302$ 46,444 8.3 % 8.3 -" International Headwinds: International sales were negatively impacted by currency fluctuations and saw lower operational growth. Sales declined slightly by 0.7% in 4Q24, but with currency impacts removed, operational growth was 2.5%. For the full year, international sales decreased by 0.5%, with 2.9% operational growth. "International 9,316 9,386 (0.7) 2.5 (3.2) 38,519 38,715 (0.5) 2.9 (3.4)" COVID-19 Vaccine Impact: Sales from the COVID-19 vaccine are now negligible and have a limited impact on the current reporting. The analysis focuses on performance excluding these sales to reflect core business strength. "Worldwide excluding COVID-19 Vaccine (1) 22,520$ 21,351 5.5 % 6.9 (1.4) 88,623$ 84,042 5.5 % 7.0 (1.5)"
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9 months ago
16 minutes 8 seconds

The Daily Earnings Reports Podcast
General Electric Company (GE) Q4 2024 Earnings Breakdown
Key Highlights: Orders: Total orders surged by 46% to $15.5 billion. Revenue: GAAP revenue was $10.8 billion, a 14% increase, while adjusted revenue grew by 16% to $9.9 billion. Profitability: GAAP profit was $2.3 billion, up 37%, and operating profit saw an impressive 49% jump to $2.0 billion. EPS: Continuing GAAP EPS increased by 62% to $1.75, and adjusted EPS more than doubled to $1.32, a 103% increase. Cash Flow: Cash from operating activities grew by 5% to $1.3 billion, and free cash flow was up by 21% to $1.5 billion. Quote: “GE Aerospace delivered a strong finish to 2024 given robust demand for our services and products with fourth quarter orders up 46%, EPS more than doubling, and free cash flow increasing over 20%.”
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9 months ago
24 minutes 45 seconds

The Daily Earnings Reports Podcast
Procter & Gamble (P&G) (PG) Q2 FY2025 Earnings Breakdown
Key Highlights Net Sales: $21.9 billion, a 2% increase compared to the prior year. Organic Sales: 3% increase year-over-year, driven by a 2% increase in volume and a 1% favorable geographic mix. Pricing had a neutral impact on sales growth. "Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased three percent versus the prior year." Diluted EPS: $1.88, a significant 34% increase year-over-year, primarily due to a non-cash impairment of the Gillette intangible asset in the base year. Core EPS: $1.88, a 2% increase compared to the prior year. "Core earnings per share were $1.88, an increase of two percent versus prior year." Operating Cash Flow: $4.8 billion for the quarter. Net Earnings: $4.7 billion for the quarter. Adjusted Free Cash Flow Productivity: 84%. Cash Return to Shareholders: Over $4.9 billion returned to shareholders through $2.4 billion in dividend payments and $2.5 billion in share repurchases.
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9 months ago
13 minutes 39 seconds

The Daily Earnings Reports Podcast
Capital One Financial Corporation (COF) Q4 2024 Earnings Breakdown
Key Highlights: Net Income Decline: Capital One's net income for Q4 2024 was $1.1 billion, or $2.67 per diluted common share, a decrease compared to the previous quarter's $1.8 billion, or $4.41 per diluted common share, and up from $706 million, or $1.67 per diluted common share in Q4 2023. "Capital One Reports Fourth Quarter 2024 Net Income of $1.1 billion, or $2.67 per share" . Adjusted EPS: When accounting for adjusting items such as Discover integration costs and legal reserves, adjusted net income was $3.09 per diluted share, demonstrating underlying earnings strength. "Net of adjusting items, Fourth Quarter 2024 Net Income of $3.09 per share"  Full Year 2024: Total net revenue increased 6 percent to $39.1 billion, with an increase in net interest margin of 25 basis points. Revenue Growth Coupled with Expense Increase: Net Revenue: Total net revenue saw a modest increase of 2% quarter-over-quarter, reaching $10.2 billion, driven primarily by net interest income growth. For full year 2024, total net revenue grew by 6%. "Total net revenue increased 2 percent to $10.2 billion."  Non-Interest Expense Surge: Total non-interest expense rose significantly by 15% to $6.1 billion. This jump was primarily due to a 24% increase in marketing costs and a 12% increase in operating expenses. "Total non-interest expense increased 15 percent to $6.1 billion...24 percent increase in marketing...12 percent increase in operating expenses." (Exhibit 99.1) For the full year of 2024 total non-interest expense increased by 6% driven by a 14% increase in marketing expense. Pre-Provision Earnings Decline: Pre-provision earnings decreased 13% to $4.1 billion, reflecting higher expenses impacting profitability. "Pre-provision earnings decreased 13 percent to $4.1 billion."
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9 months ago
24 minutes 41 seconds

The Daily Earnings Reports Podcast
Charles Schwab Corporation (SCHW) Q4 2024 Earnings Breakdown
Key Highlights: Revenue Growth: Schwab's net revenues for Q4 2024 reached $5.3 billion, a 20% increase compared to Q4 2023. Full-year revenue also increased to $19.6 billion, a 4% jump from 2023. This growth was attributed to strong client engagement, increased margin utilization, positive client cash trends, and record net inflows into Managed Investing Solutions. As CEO Rick Wurster stated, "Strong client engagement, increased margin utilization, encouraging client cash trends, and record net inflows into our Managed Investing Solutions helped lift 4Q24 revenue to $5.3 billion, – an increase of 20% year-over-year." Earnings Increase: GAAP earnings per share were $0.94, and adjusted earnings per share reached $1.01, representing a 49% increase compared to Q4 2023. GAAP net income hit $1.8 billion, while adjusted net income was $2.0 billion. Profitability: The adjusted pre-tax profit margin for Q4 2024 was a robust 46.6%, driven by strong revenue growth and disciplined expense management. According to CFO Mike Verdeschi, "The combination of 20% revenue growth and disciplined expense management resulted in a 4Q24 pre-tax profit margin of 43.3% – 46.6% adjusted – as well as quarterly GAAP and adjusted earnings per share growth of 84% and 49%, respectively.” Expense Management: GAAP expenses decreased by 7% compared to Q4 2023, and adjusted expenses remained flat year-over-year, excluding transaction-related and
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9 months ago
11 minutes 53 seconds

The Daily Earnings Reports Podcast
Netflix (NFLX) Q4 2024 Earnings Breakdown
Key Highlights: Netflix successfully executed its plan to re-accelerate growth in 2024. Full-year revenue grew by 16%, with operating margin expanding six percentage points to 27%. Operating income exceeded $10 billion for the first time. Netflix highlights the success of its content slate, including both original and licensed titles. Specific content successes mentioned include: Squid Game Season 2, on track to be one of their most-watched original series seasons. The film Carry-On joined their all-time Top 10 films list. The Jake Paul vs. Mike Tyson fight was the most-streamed sporting event ever. Two NFL games streamed on Christmas Day became the most streamed NFL games in history. Netflix also notes the critical acclaim of its content: “A slate that resonated with critcs and awards bodies alike, as we garnered the most Golden Globe nominatons and wins of any entertainment company…” The company emphasizes their goal to be the "first place members go for entertainment" and measures success through engagement metrics (view hours).
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9 months ago
17 minutes 35 seconds

The Daily Earnings Reports Podcast
3M (MMM) Q4 2024 Earnings Breakdown
Key Highlights: Return to Growth: 3M showed a return to positive organic revenue growth in the full year, as highlighted by CEO William Brown: "Our fourth quarter capped a year of strong results as we returned to positive organic revenue growth in the full year." This indicates a positive trend after some previous headwinds. Full-year adjusted sales saw 1.3% growth and adjusted organic sales saw 1.2% growth YoY Q4 adjusted sales saw 2.2% growth and adjusted organic sales saw 2.1% growth YoY Strong Earnings Performance: 3M demonstrated strong earnings growth, particularly on an adjusted basis: Full-year adjusted EPS from continuing operations was $7.30, up 21% year-on-year. Q4 GAAP EPS from continuing operations of $1.33, up 17% YoY "I would like to thank the 3M team for their strong operational execution which helped us deliver double-digit earnings growth and robust free cash flow while returning $3.8 billion to shareholders," said William Brown Cash Flow & Shareholder Returns: 3M generated robust free cash flow and returned significant capital to shareholders: Full-year adjusted free cash flow was $4.9 billion $3.8 billion returned to shareholders via dividends and share repurchases in full-year 2024. $1.1 billion returned to shareholders via dividends and share repurchases in Q4 2024 Impact of Litigation and Special Items: 3M's financials continue to be impacted by significant litigation costs related to PFAS and combat earplugs: There are "net costs for significant litigation" included as a special item impacting GAAP earnings. This includes the costs related to the Public Water Systems and Combat Arms Earplugs. The full-year report notes a $3.8 billion net after tax payment for significant litigation. Portfolio Adjustments: 3M's portfolio adjustments also impacted sales figures, with a "headwind" from product portfolio initiatives and exiting certain small countries. The adjusted organic sales increases includes a 70 basis point headwind in Q4 and a 110 basis point headwind in full year. 2025 Guidance: 3M provided full-year 2025 guidance, projecting continued growth: Adjusted total sales growth in the range of 0.5 to 1.5 percent. Adjusted organic sales growth of 2 to 3 percent. Adjusted EPS in the range of $7.60 to $7.90. Adjusted operating cash flow of $5.2 to $5.3 billion, contributing to approximately 100 percent adjusted free cash flow conversion
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9 months ago
15 minutes 22 seconds

The Daily Earnings Reports Podcast
United Airlines (UAL) Q4 2024 Earnings Breakdown
Key Highlights: Record Profitability: United achieved a record fourth-quarter profit, significantly exceeding expectations. "United Airlines Achieves Record Fourth Quarter Profit Well Ahead Of Expectations." Full-Year Success: The company's full-year pre-tax earnings were $4.2 billion, with a 7.3% pre-tax margin. Adjusted pre-tax earnings reached $4.6 billion with an 8.1% margin. “The company had full-year pre-tax earnings of $4.2 billion, with a pre-tax margin of 7.3%; adjusted pre-tax earnings of $4.6 billion, with an adjusted pre-tax margin of 8.1%.” EPS Guidance Beat: Adjusted diluted earnings per share (EPS) for the year came in at $10.61, at the higher end of the $9.00 to $11.00 guidance. "…adjusted diluted earnings per share of $10.61, at the better end of the 2024 guidance provided at the start of the year of $9.00 to $11.00." Revenue Growth: Total operating revenue for Q4 was $14.7 billion, up 7.8% year-over-year. "Total operating revenue of $14.7 billion, up 7.8% compared to fourth-quarter 2023." Improved Margins: Q4 pre-tax margin was up 3.2 points year-over-year, or 3.5 points on an adjusted basis. "Q4 pre-tax margin up 3.2 points year-over-year, 3.5 points on an adjusted basis." Net Income: Full-year net income was $3.1 billion ($3.5 billion adjusted). Strong Liquidity: The company ended the year with $17.4 billion in available liquidity. "Ending available liquidity of $17.4 billion." Debt: Total debt, finance lease obligations and other financial liabilities totaled $28.7 billion at year end, with a net leverage of 2.4x. "Total debt, finance lease obligations and other financial liabilities of $28.7 billion at year end. Net leverage of 2.4x." Cash Flow: United generated $9.4 billion of operating cash flow and $3.4 billion of free cash flow. "Generated $9.4 billion of operating cash flow. Generated $3.4 billion of free cash flow."
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9 months ago
33 minutes 42 seconds

The Daily Earnings Reports Podcast
Constellation Brands, Inc. (STZ) Q3 FY 2025 Earnings Breakdown
Key Highlights Net Sales:Nine Months 2025: $8,044.5 million, compared to $7,822.6 million in Nine Months 2024. Third Quarter 2025: $2,463.8 million, compared to $2,470.9 million in Third Quarter 2024. The Beer segment saw growth, while the Wine and Spirits segment experienced a decline in net sales. Gross Profit:Nine Months 2025: $4,199.9 million, compared to $3,978.3 million in Nine Months 2024. Third Quarter 2025: $1,284.3 million, compared to $1,270.6 million in Third Quarter 2024. Operating Income (Loss):Nine Months 2025: $505.2 million, a significant decrease from $2,540.3 million in Nine Months 2024. This was significantly impacted by a $2.25 billion goodwill impairment. Third Quarter 2025: $793.0 million, compared to $796.9 million in Third Quarter 2024. Net Income (Loss) Attributable to CBI:Nine Months 2025: $293.9 million, down from $1,335.0 million in Nine Months 2024. Third Quarter 2025: $615.9 million, compared to $509.1 million in Third Quarter 2024. Cash Flow:Net cash provided by (used in) investing activities (1,098.2) million for the nine months ended November 30, 2024, compared to (929.9) million in 2023. The company continues to use cash for stock repurchases. Goodwill Impairment: A significant $2.25 billion goodwill impairment was recognized during the nine months ended November 30, 2024, impacting the consolidated financials.
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10 months ago
21 minutes 19 seconds

The Daily Earnings Reports Podcast
Walgreens (WBA) Q1 FY2025 Earnings Breakdown
Key Highlights: Sales Growth: Overall sales increased by 7.5% year-over-year to $39.5 billion, or 6.9% on a constant currency basis. This growth is across all business segments (US Retail Pharmacy, International, and US Healthcare). Net Loss: WBA reported a net loss of $265 million, a significant increase compared to the $67 million loss in the same quarter last year. This is primarily attributed to higher operating losses. Quote: "Net loss in the first quarter was $265 million compared to a net loss of $67 million in the year-ago quarter, primarily driven by higher operating loss." Adjusted EPS Decline: Adjusted earnings per share (EPS) decreased to $0.51, down from $0.66 in the previous year, a decrease of 23.4% on a constant currency basis. Operating Loss: The company reported an operating loss of $245 million, compared to $39 million in the same quarter last year. The loss reflects higher costs related to the Footprint Optimization Program and lower US retail sales.
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10 months ago
15 minutes 33 seconds

The Daily Earnings Reports Podcast
Delta Airlines (DAL) Q4 FY 2024 Earnings Breakdown
Key Highlights: Revenue: Delta achieved record full-year revenue for 2024 and record revenue for the December quarter. Full-year adjusted operating revenue was $57.0 billion, a 4.3% increase over 2023. December quarter revenue was $14.4 billion. Profitability: Delta delivered record December quarter operating profit and generated $5 billion of pre-tax income for the full year. Cash Flow: The airline generated $8 billion in operating cash flow and $3.4 billion in free cash flow for 2024. EPS: Full year earnings per share was $6.16 adjusted. Profit Sharing: Delta is sharing its success with employees, paying out $1.4 billion in profit sharing next month. As CEO Ed Bastian stated, “Sharing Delta’s success is core to our culture, and I’m excited to recognize our people's outstanding efforts with $1.4 billion in profit sharing payments next month.”
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10 months ago
15 minutes 46 seconds

The Daily Earnings Reports Podcast
Tilray Brands (TLRY) Q4 FY 2024 Earnings Breakdown
Key Highlights: Growth in Beverage Segment: Tilray experienced significant growth in its beverage segment, driven by recent acquisitions. However, this was partially offset by a strategic SKU rationalization initiative. Challenges in Cannabis Segment: The cannabis segment experienced a revenue decrease in Canadian adult-use sales. However, international cannabis revenue increased due to growth in Germany and Poland. Strategic Acquisitions & Investments: The company is actively pursuing strategic acquisitions, particularly in the beverage sector, and is using its ATM program to fund these. Financial Volatility: Tilray's financial results are impacted by various factors, including foreign exchange rate fluctuations and changes in fair value of financial instruments like warrants and convertible debentures. Operational Focus: The company is focused on portfolio optimization, SKU rationalization, and brand development within its various segments. Legal and Regulatory Environment: Tilray navigates complex legal and regulatory environments, particularly in the cannabis sector, across various jurisdictions.
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10 months ago
25 minutes 45 seconds

The Daily Earnings Reports Podcast
Nano Nuclear Energy Inc. (NNE) Q4 FY 2024 Earnings Breakdown
Key Highlights: Microreactor Development: Developing ZEUS (solid-core) and ODIN (salt-cooled) microreactors, targeting commercial launch by 2030-31. Secured design audits, provisional patent for ZEUS, and NRC certification efforts underway. Vertical Integration: Pursuing control of nuclear supply chain, including fuel processing and transportation. HALEU Fuel & Transport: Developing HALEU supply chain; partnering with LIS Technologies for enriched uranium. Exclusive license for HALEU transportation system; operations planned by 2026. Consulting Services: Offering nuclear industry consulting, targeting revenue by 2025, with internal expansion plans. Intellectual Property: Patents for ZEUS, ODIN, and ALIP tech, plus acquisition of USNC reactor assets and patents.
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10 months ago
39 minutes 7 seconds

The Daily Earnings Reports Podcast
FedEx Corporation (FDX) Q4 FY 2024 Earnings Breakdown
Key Highlights: Revenue: Overall revenue decreased 1% in the second quarter of 2025 and for the first half of 2025, driven primarily by lower volume and fuel surcharges. Base yield improvements partially offset these declines. "Revenue decreased 1% in the second quarter and first half of 2025 primarily due to lower volume and fuel surcharges, partially offset by base yield improvement, at both of our transportation segments." Federal Express segment revenue was flat, while FedEx Freight segment revenue decreased significantly. "Federal Express segment revenue was flat in the second quarter and first half of 2025 primarily due to increased deferred package volume and improved base yields, partially offset by lower priority package volume...FedEx Freight revenue decreased 11% in the second quarter and 7% in the first half of 2025..." Operating Income: Consolidated operating income declined by 18% for the second quarter and 23% for the first half of fiscal year 2025 compared to the prior year due to decreased demand, higher operational costs, and business optimization costs, with some offsetting factors like increased international demand and cost savings from DRIVE initiatives. "Operating income declined 18% for the second quarter and 23% for the first half of 2025 primarily due to lower demand for U.S. domestic package and freight LTL services driven by macroeconomic factors, increased purchased transportation and wage rates, and higher business optimization costs." Net Income: Consolidated net income decreased by 18% for the three-month period and 22% for the six-month period compared to the previous year, mirroring the trend in operating income. "Consolidated net income $ 741 $ 900 (18 ) $ 1,535 $ 1,978 (22 )" Earnings Per Share (EPS): Diluted EPS decreased by 15% in the second quarter and 20% in the first half of fiscal 2025. "Diluted earnings per share $ 3.03 $ 3.55 (15 ) $ 6.24 $ 7.79 (20 )" Cash Flow: Cash flow from operating activities decreased significantly, attributed to changes in assets and liabilities. "Cash provided by operating activities 2,505 4,004" Cash and cash equivalents totaled $5.0 billion at November 30, 2024, down from $6.5 billion at May 31, 2024. Capital Expenditures: Capital expenditures have decreased year-over-year, particularly in aircraft and related equipment. "Aircraft and related equipment $ 82 $ 601 $ 263 $ 1,155 (86 ) (77 )" Stock Repurchase: FedEx repurchased $1.0 billion of common stock in Q2 and a total of $2.0 billion in the first half of 2025. An additional $500 million in repurchases is expected by the end of the fiscal year. "We repurchased an aggregate of $1.0 billion of our common stock through accelerated share repurchase (“ASR”) transactions with two banks and open market transactions during the second quarter of 2025. During the six-month period ended November 30, 2024, we repurchased 7.1 million shares of FedEx common stock through ASR and open market transactions at an average price of $283.13 per share for a total of $2.0 billion."
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10 months ago
18 minutes 28 seconds

The Daily Earnings Reports Podcast
Nike (NKE) Q2 FY2025 Earnings Breakdown
Key Highlights:   Revenue Decline: Total revenue down 8% (reported) and 9% (currency-neutral) to $12.4B. Nike Brand revenue dropped 7% (reported) and 8% (currency-neutral); Converse down 17% (reported) and 18% (currency-neutral). NIKE Direct (-13%) and Wholesale (-3%) channels declined; NIKE Brand Digital fell 21%. Gross Margin Compression: Gross margin decreased by 100 basis points to 43.6%, due to higher discounts and channel mix changes. Profitability Impact: Net income fell 26% to $1.2B; diluted EPS down 24% to $0.78. Operating income dropped 27%, from $1,900M to $1,392M. Re-energizing the Brand: New CEO Elliott Hill emphasizes a return to sport and reigniting brand momentum. Management is repositioning the business to drive long-term shareholder value. Expense Management: Selling and administrative expenses down 3%; demand creation expenses up 1%, reflecting a shift in marketing focus. Balance Sheet Stability: Inventories flat at $8B; cash and equivalents at $9.8B. Increased debt, with $1B in current long-term debt (from $0). Shareholder Returns: $1.1B in share repurchases and a 7% dividend increase in Q2. 23 consecutive years of dividend growth. Geographical Performance: Revenue declines in all regions: North America (-8%), EMEA (-7%), Greater China (-8%), and APAC/Latin America (-3%). Significant EBIT drops in Greater China (-27%) and Converse (-54%).
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10 months ago
22 minutes 58 seconds

The Daily Earnings Reports Podcast
Micron Technology, Inc. (MU) Q1 FY2025 Earnings Breakdown
Key Highlights: Revenue: $8.709 billion, a substantial increase from $4.726 billion in the same quarter of the previous year, and up from $7.750 in the prior quarter. Gross Margin: A significant improvement to $3.348 billion (38% margin) compared to a negative gross margin of -$35 million in the prior year’s quarter. Operating Income: $2.174 billion, a strong turnaround from an operating loss of $1.128 billion year-over-year. Net Income: $1.870 billion, a dramatic improvement from a net loss of $1.234 billion year-over-year. Earnings Per Share: $1.68 basic and $1.67 diluted, compared to a loss per share of $1.12 year-over-year. Key Drivers: Increased pricing and demand for DRAM products, especially for data centers and AI applications, were major contributors to these results. Revenue Breakdown:DRAM revenue: $6.400 billion, up from $3.427 billion year-over-year. NAND revenue: $2.241 billion, up from $1.230 billion year-over-year. Data center and networking revenue: 55% of total revenue, compared to 20% in the same quarter last year. One customer accounted for 13% of total revenue in this quarter.
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10 months ago
15 minutes 48 seconds

The Daily Earnings Reports Podcast
General Mills, Inc. (GIS) Q2 FY2025 Earnings Breakdown
Key Highlights Net Sales: Q2 2025 Net sales increased 2% to $5,240.1 million, compared to $5,139.4 million in Q2 2024. Organic net sales increased 1%. For the first six months, net sales essentially matched the same period last year, totaling $10,088.2 million. Volume growth contributed positively, but this was partially offset by unfavorable net price realization and mix. Operating Profit: Q2 2025 operating profit increased 33% to $1,077.9 million, compared to $811.8 million in Q2 2024. This was primarily due to a goodwill impairment charge in fiscal 2024, lower restructuring charges, lower input costs, and a favorable change in the mark-to-market valuation of certain commodity positions and grain inventories. For the six-month period, operating profit increased 10% to $1,909.4 million. Earnings Per Share (EPS): Diluted EPS increased 39% to $1.42 in Q2 2025 from $1.02 in Q2 2024. For the first six months, diluted EPS increased 13% to $2.45. Adjusted Performance (Non-GAAP): Adjusted operating profit for Q2 2025 was $1,064 million, a 7% increase on a constant currency basis. Adjusted diluted EPS was $1.40, a 12% increase on a constant-currency basis. Adjusted operating profit for the first six months was $1,929 million, a 2% increase on a constant currency basis. Adjusted diluted EPS was $2.47, a 6% increase on a constant-currency basis. *These adjustments factor out items like restructuring, acquisition integration costs, and mark-to-market effects, and aim to provide a clearer picture of underlying business performance. Cash Flow: Net cash provided by operating activities was $1,774.7 million for the six-month period. The company noted an increase in cash and cash equivalents of $1,874.8 million over the six-month period, ending at $2,292.8 million.
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10 months ago
16 minutes 14 seconds

The Daily Earnings Reports Podcast
Costco (COST) Q1 FY 2025 Earnings Breakdown
Key Highlights: Financial Performance: Net sales increased 7.5% to $60.99 billion, compared to $56.72 billion in the same period last year. Net income for the quarter was $1.798 billion, or $4.04 per diluted share, compared to $1.589 billion, or $3.58 per diluted share, in the prior year. This includes a $100 million tax benefit related to stock-based compensation. Excluding the tax benefit, net income and diluted EPS growth were 9.9% and 9.8%, respectively. Gross margin improved by 24 basis points, driven by strong sales performance. Sales and Comparable Sales: Comparable sales for the first quarter increased by 5.2%, with adjusted comparable sales (excluding gasoline prices and foreign exchange impacts) rising by 7.1%. U.S. comparable sales were particularly strong at 7.2% (adjusted). E-commerce comparable sales surged by 13.0% (13.2% adjusted). Membership: Membership fee revenue increased by 7.8%. The worldwide membership renewal rate remained high at 90.4%, with a 92.8% renewal rate in the U.S. and Canada. Total paid memberships grew by 7.6% to 77.4 million, while total cardholders increased by 7.2% to 138.8 million. Warehouse Expansion: Costco opened two new warehouses during the quarter, one in Zaragoza, Spain and the other in Napa, California. The company has plans to open six additional warehouses in the remainder of FY 2025. Digital Metrics: E-commerce site traffic increased by 16%. Average order value for online purchases grew by 4%. Costco Logistics deliveries saw a 13% increase, with items delivered rising by 19%.
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11 months ago
38 minutes 46 seconds

The Daily Earnings Reports Podcast
Broadcom Inc. (AVGO) Q4 FY 2024 Earnings Breakdown
Key Highlights: Record Revenue Growth: Broadcom achieved record revenue of $51.6 billion for FY 2024, marking a 44% year-over-year increase. This growth was driven by both the semiconductor solutions and infrastructure software segments. “Broadcom’s fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware." - Hock Tan, President and CEO of Broadcom Inc. Strong AI Performance: AI revenue soared to $12.2 billion in FY 2024, representing a remarkable 220% year-over-year growth. This success was attributed to Broadcom's leading AI XPUs and Ethernet networking portfolio. "Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion. AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio.” - Hock Tan, President and CEO of Broadcom Inc. Increased Dividend: Based on strong cash flow performance, the Board of Directors declared a quarterly dividend of $0.59 per share, marking an 11% increase from the previous quarter. This represents the fourteenth consecutive annual dividend increase since 2011. "Based on increased cash flows in fiscal year 2024, we are increasing our quarterly common stock dividend by 11% to $0.59 per share for fiscal year 2025. The target fiscal year 2025 annual common stock dividend of $2.36 per share is a record, and the fourteenth consecutive increase in annual dividends since we initiated dividends in fiscal 2011.” - Kirsten Spears, CFO of Broadcom Inc. VMware Integration Success: The successful integration of VMware contributed significantly to the growth of infrastructure software revenue, reaching $21.5 billion in FY 2024. Strong Q4 2024 Performance: Q4 2024 revenue reached $14.054 billion, a 51% increase from the prior year period. Adjusted EBITDA for Q4 2024 was $9.089 billion, representing 65% of revenue.
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11 months ago
21 minutes 33 seconds

The Daily Earnings Reports Podcast
Planet Labs (PL) Q3 2024 Earnings Breakdown
Key Highlights: Revenue Growth: Revenue increased by 11% year-over-year, reaching $61.3 million for Q3 2024. This growth was driven primarily by new customer acquisition in the Civil Government and Defense & Intelligence verticals. "Revenue increased $5.9 million, or 11%, to $61.3 million for the three months ended October 31, 2024 from $55.4 million for the three months ended October 31, 2023." Customer Base Expansion: Planet Labs reported an End of Period (EoP) Customer Count of 1,015, representing a 4% increase compared to the same period last year. This demonstrates continued market adoption of their platform. Strong Recurring Revenue: 97% of their ACV Book of Business consists of recurring revenue from annual or multi-year contracts. This indicates a stable and predictable revenue stream. Focus on Agile Space Systems: Planet Labs utilizes a strategy of deploying numerous low-cost satellites rather than investing in a few expensive ones. This approach has resulted in lower capital expenditures compared to competitors. Investing in New Verticals: The company is actively expanding its offerings to cater to emerging markets like energy, finance, insurance, and consumer packaged goods. They are also leveraging AI to make their data more accessible and actionable. Related Party Transactions with Google: Google, holding over 10% of Planet Labs' Class A common stock, is both a customer and a service provider. Planet Labs licenses content to Google and utilizes Google Cloud Platform for hosting and other services. Legal Proceedings: A stockholder class action lawsuit has been filed against former officers and directors of dMY IV (Planet Labs' SPAC predecessor) and the company itself, alleging breaches of fiduciary duties.
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11 months ago
44 minutes 58 seconds

The Daily Earnings Reports Podcast