10 out of 14 S&P 500 consumer discretionary stocks post earnings beat – Earnings Scorecard
A total of 14 out of 52 S&P 500 consumer discretionary companies reported quarterly results this week. The Consumer Discretionary Select Sector SPDR Fund ETF (NYSEARCA:XLY) is 4.48% down QTD. Meanwhile, SPY is 3.58% lower.
Ten of the 14 reporting companies posted an earnings beat, while three reported a miss. Half of the reporting companies exceeded revenue consensus, while six trailed expectations. One of the companies reported in-line EPS and revenue.
Below are the latest quarterly reports from five industry giants.
Tesla (TSLA) reported lower revenue due to reduced vehicle average selling price, but rallied by ~12% after pointing to its upcoming affordable models and autonomous upside.
Shares of General Motors (GM) were higher in Tuesday’s premarket trading after the automaker’s Q1 results easily beat expectations and the company raised its FY24 profit guidance above Street forecasts.
Ford Motor (F) surpassed estimates as the strength of the company’s commercial division offset losses for electric vehicles, rising 3% higher in after-hours trade on Wednesday.
Chipotle Mexican Grill (CMG) gained in after-hours trading on Tuesday after margin rates improved in Q1.
Royal Caribbean Cruises (RCL) sailed higher in early trading on Thursday after setting favorable guidance due to robust demand trends.
QTD, 18 out of the 52 consumer discretionary companies have reported earnings so far. At the industry level, three Automobiles; three Distributors; four companies in the Hotels, Restaurants & Leisure subsector; four companies in the Household Durables subsector; one Leisure Equipment & Products company and three Specialty Retail companies have posted their quarterly results.
Roughly 72% of the S&P 500 consumer discretionary companies have exceeded consensus EPS estimates, while 50% have reported revenue beat.
For the upcoming week, five notable consumer discretionary tickers scheduled to report results are Amazon.com (AMZN), Starbucks (SBUX), McDonald’s (MCD), DraftKings (DKNG) and Etsy (ETSY), among others.