Earnings Weeks Aug. 14 - Sept. 1
Nvidia, Sea Limited, Home Depot, Nu Bank, Zoom Salesforce & more.
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Home Depot
For the transcript and press release click HERE
Q2 GAAP EPS of $4.65 beats by $0.20.
Revenue of $42.92B (-2.0% Y/Y) beats by $690M.
Comparable sales decreased 2.0%, and comparable sales in the U.S. decreased 2.0%.
The board of directors also authorized a new $15B share repurchase program effective August 15, 2023
Home Depot declares $2.09 dividend
Sea Limited
For the transcript and press release click HERE
I’ve also covered it on my channel in detail.
Q2 GAAP EPS of $0.54 beats by $0.08.
Revenue of $3.1B (+5.2% Y/Y) misses by $150M.
dLocal
For the transcript and press release click HERE
I’ve also covered it on my channel in detail.
Q2 GAAP EPS of $0.15 beats by $0.02.
Revenue of $161.14M (+59.3% Y/Y) beats by $11.75M.
US$4.4 billion Total Payment Volume, up 80% year-over-year and 22% quarter-over-quarter
148% Net Revenue Retention Rate
Gross Profit of US$71 million, up 43% year-over-year and 14% quarter-over-quarter
Adjusted EBITDA of US$52 million, up 36% year-over-year and 14% quarter-over-quarter.
Nu Bank
For the transcript and press release click HERE
2 Revenue of $1.9B beats by $120M.
Adjusted Net Income, reached $262.7 million with an adjusted ROE of 19%, compared to an Adjusted Net Income of $17.0 million in Q2’22.
Net Income of $224.9 million, compared to a $29.9 million Loss in Q2’22.
Gross Profit: Nu’s Q2’23 gross profit expanded to $782 million, with a 113% increase YoY FX neutral. Gross profit margin expanded to 42% from 31% in Q2’22.
4 Stocks to Buy in September
Walmart
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $1.84 beats by $0.13.
Revenue of $161.63B (+5.9% Y/Y) beats by $2.35B.
Global advertising business grew approximately 35%.
Walmart U.S. comp sales up 6.4%; eCommerce up 24%, led by pickup & delivery.
The company expects Q3 sales to increase 3% Y/Y and adjusted EPS in the range of $1.45 and $1.50 vs. consensus of $1.49.
FY2023 sales to increase by 4% to 4.5% and adjusted EPS to be in the range of $6.36 and $6.46 vs. consensus of $6.27.
JD
For the transcript and press release click HERE
Q2 Non-GAAP EPADS of $0.74 beats by $0.06.
Revenue of $39.7B (+7.6% Y/Y) beats by $1.21B.
Farfetch
For the transcript and press release click HERE
Q2 Non-GAAP EPS of -$0.21 beats by $0.02.
Revenue of $572.09M (-1.3% Y/Y) misses by $78.62M.
Digital Platform GMV and Digital Platform Services Revenue growth accelerate to 7% and 10% year-over-year
Strong supply growth of over 40% year-over-year on the Farfetch Marketplace
Record Active Consumers of 4.1 million, up 7% year-over-year
Operating cost base reduced year-over-year, delivering operating cost leverage
FY Outlook: Group GMV of approximately $4.4 billion, up from $4.1 billion in 2022
Digital Platform GMV of approximately $3.85 billion, up from $3.5 billion in 2022
Brand Platform GMV of approximately $0.45 billion, broadly flat compared to 2022
Revenue of approximately $2.5 billion, up from $2.3 billion in 2022
Digital Platform Order Contribution Margin of 33% to 35%, up from 32% in 2022
Positive Adjusted EBITDA Margin up to 1%, improving from (5)% in 2022
Positive Free Cash Flow, improving from negative in 2022.
Deere
For the transcript and press release click HERE
Q3 GAAP EPS of $10.20 beats by $2.02.
Revenue of $15.8B (+12.1% Y/Y) beats by $1.74B.
Full-year net income forecast increased to $9.75 billion to $10.00 billion.
Deere raises quarterly dividend by 8% to $1.35
Zoom
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $1.34 beats by $0.28.
Revenue of $1.14B (+3.6% Y/Y) beats by $30M.
up 3.6% year over year as reported and 4.5% in constant currency
Second quarter Enterprise revenue of $659.5 million, up 10.2% year over year
Second quarter GAAP operating margin of 15.6% and non-GAAP operating margin of 40.5%
Second quarter operating cash flow of $336.0 million, up 30.6% year over year
Number of customers contributing more than $100,000 in trailing 12 months revenue up 17.8% year over year.
Q3 Outlook: Total revenue is expected to be between $1.115 billion and $1.120 billion
2024 Outlook: Total revenue is expected to be between $4.485 billion and $4.495 billion and revenue
Nvidia
For the transcript and press release click HERE
I’ve also covered it on my channel in detail.
Q2 Non-GAAP EPS of $2.70 beats by $0.61.
Revenue of $13.51B (+101.6% Y/Y) beats by $2.43B.
Record Data Center revenue of $10.32 billion, up 141% from Q1, up 171% from year ago.
NVIDIA will pay its next quarterly cash dividend of $0.04 per share on September 28, 2023, to all shareholders of record on September 7, 2023.
Data center: Second-quarter revenue was a record $10.32 billion, up 141% from the previous quarter and up 171% from a year ago.
Gaming: Second-quarter revenue was $2.49 billion, up 11% from the previous quarter and up 22% from a year ago.
Q3 Outlook: Revenue is expected to be $16.00 billion vs. consensus of $12.42B, plus or minus 2%.
Peloton
For the transcript and press release click HERE
Q4 GAAP EPS of -$0.68 misses by $0.28.
Revenue of $642.1M (-5.4% Y/Y) in-line.
Q1 revenue estimated to be between $580M to $600M vs. consensus of $654.19M.
Snowflake
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $0.22 beats by $0.12.
Revenue of $674.02M (+35.5% Y/Y) beats by $11.74M.
Product revenue of $640.2 million in the second quarter, representing 37% year-over-year growth
402 customers with trailing 12-month product revenue greater than $1 million
Net revenue retention rate of 142%
639 Forbes Global 2000 customers
Remaining performance obligations of $3.5 billion, representing 30% year-over-year growth.
Q3 Outlook: Product revenue $670 - $675M growth of 28 - 29%; Operating income margin 4%.
2024 Outlook: Product revenue $2,600M growth of 34%; Product gross profit margin 76%; Operating income margin 5%; Adjusted free cash flow margin 26%.
Lowe
For the transcript and press release click HERE
Q2 GAAP EPS of $4.56 beats by $0.08.
Revenue of $24.96B (-9.2% Y/Y) in-line.
Comparable sales decreased 1.6%, with strong spring recovery and Pro and online sales growth, partially offsetting lumber deflation and lower DIY discretionary demand.
The company is affirming its outlook for the operating results of full year 2023.
Total sales of approximately $87B – $89B vs. consensus of $88.05B
Salesforce
For the transcript and press release click HERE
Q2 Non-GAAP EPS of $2.12 beats by $0.24.
Revenue of $8.6B (+11.4% Y/Y) beats by $70M.
Second Quarter GAAP Operating Margin of 17.2% and Non-GAAP Operating Margin of 31.6%
Current Remaining Performance Obligation of $24.1 Billion, up 12% Y/Y, 11% CC.
Returned $1.9 Billion to Stockholders in the Second Quarter in the Form of Share Repurchases
Initiates Third Quarter FY24 Revenue Guidance of $8.70 Billion to $8.72 Billion vs. consensus of $8.66B, up ~11% Y/Y
Raises Full Year FY24 Revenue Guidance to $34.7 Billion to $34.8 Billion vs. consensus of $34.65B, up ~11% Y/Y
Raises Full Year FY24 GAAP Operating Margin Guidance to ~13.3% and Non-GAAP Operating Margin Guidance to ~30.0%
Raises Full Year FY24 Operating Cash Flow Growth Guidance to 22% to 23% Y/Y.
Great summary!! Thanks for sharing