Hey reader! 📰
If you’re new here, welcome and if not, welcome back! If you haven’t joined the 710 subscribed members yet and want an earnings summary each Saturday during each earnings season, you can sign up below for FREE (thank you to my paid subscribers!). And consider subscribing to the YouTube channel.
A friendly reminder that the stock price reaction after earnings might have nothing to do with how well/bad the company performed during the quarter.
Try Seeking Alpha’s Premium Membership HERE
With a 14-day Free Trial!
SoFi
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q2 GAAP EPS of -$0.06 in-line.
Adj Revenue of $488.82M (+37.3% Y/Y) beats by $15.45M.
New Member Adds of Over 584,000; Quarter-End Total Members Up 44% Year-over-Year to Over 6.2 Million
New Product Adds of Nearly 847,000; Quarter-End Total Products Up 43%
Management expects to generate $1.025 to $1.085 billion of adjusted net revenue in the second half of 2023, up 19% to 26% year-over-year, and $180 to $190 million of adjusted EBITDA.
For the full year 2023, management expects adjusted net revenue of $1.974 to $2.034 billion, up from its prior guidance of $1.955 to $2.02 billion, and full-year adjusted EBITDA of $333 to $343 million, up from its prior guidance of $268 to $288 million, representing a 40-44% incremental adjusted EBITDA margin.
Uber
For the transcript and press release click HERE
Q2 GAAP EPS of $0.18 beats by $0.19.
Revenue of $9.2B (+14.0% Y/Y) misses by $140M.
Gross Bookings grew 16% year-over-year and 18% year-over-year on a constant currency basis.
Adjusted EBITDA of $916 million, up $552 million YoY. Adjusted EBITDA margin as a percentage of Gross Bookings was 2.7%, up from 1.3% in Q2 2022.
Operating cash flow of $1.2 billion; Record quarterly free cash flow of $1.1 billion.
Monthly Active Platform Consumers reached 137 million: MAPCs grew 12% YoY and 5% Q/Q to 137 million, driven by continued improvement in consumer activity for our Mobility offerings.
Trips of 2.3 billion: Trips on our platform grew 22% YoY and 7% Q/Q, driven by both Mobility and Delivery growth. Both Mobility and Delivery trips were up Q/Q. Monthly trips per MAPC grew 9% Y/Y to 5.6.
For Q3 2023, we anticipate: Gross Bookings of $34.0 billion to $35.0 billion; Adjusted EBITDA of $975 million to $1.025 billion.
Altria
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $1.31 beats by $0.01.
Revenue of $5.44B (+1.3% Y/Y) in-line.
“We look forward to executing our commercial plan for NJOY in the second half of the year, and we reaffirm our guidance to deliver 2023 full-year adjusted diluted EPS in a range of $4.89 to $5.03. This range represents an adjusted diluted EPS growth rate of 1% to 4% from a $4.84 base in 2022.”
AMD
For the transcript and press release click HERE
I’ve also covered it on my channel in detail.
Q2 Non-GAAP EPS of $0.58 beats by $0.01.
Revenue of $5.36B (-18.2% Y/Y) beats by $40M.
For the third quarter of 2023, AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million ($5.85B consensus), and expects non-GAAP gross margin to be approximately 51%.
Interview With Koyfin CEO
For the transcript and press release click HERE
I’ve also covered it on my channel in detail.
Q2 GAAP EPS of -$0.05 beats by $0.05.
Revenue of $708.2M (+6.4% Y/Y) beats by $12.53M.
Global Monthly Active Users (MAUs) increased 8% year over year to 465 million.
We currently expect Q3 revenue to grow in the high single digits range year over year. We expect our Q3 Non-GAAP operating expenses to grow in the low single digits range year over year.
Caterpillar
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $5.55 beats by $0.97.
Revenue of $17.3B (+21.8% Y/Y) beats by $770M.
Adjusted operating profit margin was 21.3% for the second quarter of 2023, compared with 13.8% for the second quarter of 2022.
Returned $2.0 billion to shareholders through share repurchases and dividends in the quarter
Starbucks
For the transcript and press release click HERE
Q3 Non-GAAP EPS of $1.00 beats by $0.05.
Revenue of $9.2B (+12.9% Y/Y) misses by $80M.
Comparable sales in North America increased 7% vs. +8.1% consensus, driven by a 6% increase in average ticket and 1% rise in comparable transactions.
Operating income was up 10% year-over-year. Operating margin fell to 21.7% of sales in the region from 22.0% a year ago.
Active membership in Starbucks Rewards in the U.S. rose 15% to 31.4M during the quarter.
International comparable sales rose 24% during the quarter vs. +24.2% consensus. China comparable store sales increased 46% vs. the consensus estimate for a 42% increase.
CVS Health
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $2.21 beats by $0.09.
Revenue of $88.92B (+10.3% Y/Y) beats by $2.39B.
2023 Full-year guidance: Revised GAAP diluted EPS guidance range to $6.53 to $6.75 from $6.90 to $7.12
Confirmed Adjusted EPS guidance range of $8.50 to $8.70 vs. consensus of $8.57
Confirmed cash flow from operations guidance range of $12.5 billion to $13.5 billion.
Norwegian Cruise Line
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $0.30 beats by $0.04.
Revenue of $2.21B (+85.7% Y/Y) beats by $40M.
Total revenue per Passenger Cruise Day increased by approximately 15%
Full year 2023 Adjusted EPS guidance improved $0.05 to approximately $0.80 reflecting second quarter outperformance and continued strong results expected for the remainder of 2023.
Adjusted EBITDA guidance improved to the range of $1.85 to $1.95 billion.
Updated guidance reflects approximately $30 million of headwinds from higher interest and fuel expense for the back half of the year.