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Friday, October 23, 2020

-=American Express (AXP) reported earnings on Fri 23 Oct 20 (b/o)

 

American Express misses by $0.05, reports revs in-line 

  • Reports Q3 (Sep) earnings of $1.30 per share, $0.05 worse than the S&P Capital IQ Consensus of $1.35; revenues fell 20.4% year/year to $8.75 bln vs the $8.71 bln S&P Capital IQ Consensus.
  • Consolidated provisions for credit losses were $665 million, down 24 percent from $879 million a year ago. The decrease primarily reflected a modest reserve release2 and lower net write-offs. Total credit reserve levels at the end of the third quarter were generally consistent with second-quarter levels.
  • "Since the lows of mid-April, we have seen a steady recovery in our overall spending volumes. In fact, we had positive year-over-year growth in non-T&E spending, which has long accounted for the large majority of our overall volumes. While credit remains strong, with delinquencies and net write-offs at the lowest levels we have seen in a few years, we remain cautious about the direction of the pandemic and its impacts on the economy, which is reflected in our reserve levels."
  • Thursday, October 22, 2020

    -==Limelight Networks (LLNW) reported earnings on Thur 22 Oct 20 (a/h)

    • Missed consensus for Q3 EPS on in-line revs. Cash gross margin was 46.4%; efforts to add and expand capacities to meet elevated traffic, said co, have contributed to margin fluctuations. Co commented that it made material progress across its strategic imperatives in Q3, notably through the expansion of its edge capabilities. Co will continue to make investments to double down its focus on video, media, and gaming customers. Reaffirmed its FY20 revs guidance; now sees non-GAAP EPS of $(0.02)-0.08 vs previous guidance of $0.00-0.10. Price target lowered to $7 from $9 at B. Riley Securities, which believes that co's second margin surprise in three quarters suggests lower margin visibility going forward. Downgraded at Northland Capital. Drops to its lowest levels since March.

    Limelight Networks misses by $0.03, reports revs in-line; guides FY20 EPS in-line, reaffirms FY20 revs guidance

  • Reports Q3 (Sep) loss of $0.01 per share, $0.03 worse than the S&P Capital IQ Consensus of $0.02; revenues rose 15.4% year/year to $59.24 mln vs the $58.94 mln S&P Capital IQ Consensus.
  • Co narrows guidance for FY20, sees EPS of ($0.02) to $0.08 from $0.00 to $0.10 vs. $0.08 S&P Capital IQ Consensus; sees FY20 revs of $230 mln to $240 mln vs. $221.09 mln S&P Capital IQ Consensus.
  • -=Boston Beer (SAM) reported earnings on Thur 22 Oct 20 (a/h)

     

    Boston Beer Co beats by $1.79, misses on revs; raises FY20 EPS guidance above consensus

  • Reports Q3 (Sep) earnings of $6.51 per share, $1.79 better than the S&P Capital IQ Consensus of $4.72; revenues rose 30.0% year/year to $492.8 mln vs the $520.93 mln S&P Capital IQ Consensus.
  • Depletions increased 36% and 40% from the 13- and 39-week comparable periods in the prior year.
  • Shipments increased 30.5% and 34.1% from the13- and 39-week comparable periods in the prior year.
  • Co issues raises guidance for FY20, sees EPS of $14.00-$15.00 vs. prior outlook of $11.70-$12.70, above the $12.72 S&P Capital IQ Consensus.
    • Depletions and shipments increase of between 37% and 42% of which between 1% and 2% of this growth is due to the addition of the Dogfish Head brands.
    • National price increases of between 1% and 2%.
    • Gross margin of between 46% and 47%.
  • 2021 Outlook: The company is completing its 2021 planning process and will provide further detailed guidance when the Company presents its full-year 2020 results. The company is currently using the following preliminary assumptions and targets for its 2021 fiscal year:
    • Depletions and shipments percentage increase between 35% and 45%
    • National price increases of between 1% and 2%.
    • Gross margin of between 46% and 48%.
  • =Intel (INTC) reported earnings on Thur 22 Oct 20 (a/h)

     


    Intel reports EPS in-line, revs in-line; guides Q4 EPS in-line, revs in-line, DCG's Enterprise & Govt segment revs down 47%, co guides to sequential decline in non-GAAP op mgn

  • Reports Q3 (Sep) earnings of $1.11 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $1.11; revenues fell 4.5% year/year to $18.33 bln vs the $18.26 bln S&P Capital IQ Consensus.
    • Non-GAAP operating margin was 29.4% vs prior guidance of 30%.
    • Q3 revenue was ahead of prior expectations driven by continued strength in notebook sales, which helped offset COVID-driven headwinds affecting significant portions of its business.
  • In the Data Center Group (DCG), Cloud revenue grew 15% yr/yr on continued demand to support vital services in a work and learn-at-home environment.
    • At the same time, a weaker economy due to COVID-19 impacted DCG's Enterprise & Government market segment, which was down 47% following two quarters of more than 30%.
    • The pandemic also weighed on Q3 data-centric results in the Internet of Things Group and the memory business (NSG).
    • Mobileye revenue returned to growth in the third quarter as global vehicle production improved.
  • The PC-centric business (CCG) was up 1% yr/yr on continued notebook strength to support the work- and learn-at-home dynamics of COVID-19.
    • In Q3, co launched the world's best processor for thin and light laptops, 11th Gen Intel Core processors with Intel Iris Xe graphics (formerly known as "Tiger Lake").
    • More than 150 designs from major PC makers are in development, including 100 designs expected to be in market by the end of this year with more than 40 verified under the new Intel Evo platform brand.
  • Intel's third 10nm manufacturing facility, which is located in Arizona, is now fully operational and the company now expects to ship 30% higher 10nm product volumes in 2020 compared to January expectations.
  • Co issues in-line guidance for Q4, sees EPS of approx $1.10, excluding non-recurring items, vs. $1.08 S&P Capital IQ Consensus; sees Q4 revs of approx $17.40 bln vs. $17.39 bln S&P Capital IQ Consensus. Co guides to Q4 non-GAAP operating margin of 26.5%.
  • -=U.S. Xpress (USX) reported earnings on Thur 22 Oct 20 (a/h)

     

    U.S. Xpress reports Q3 results, misses Q3 estimates 

  • Operating revenue of $431.5 mln vs $445.4 mln consensus, compared to $428.5 million in the third quarter of 2019
  • Net income attributable to controlling interest of $10.7 million, or $0.20 per diluted share vs $0.23 consensus, compared to a loss of $1.4 million in the third quarter of 2019, or a loss of $0.03 per diluted share
  • Enterprise Operating revenue was $431.5 million, an increase of $3.0 million compared to the third quarter of 2019. The increase was primarily attributable to increased revenues in the Company's Brokerage division of $9.9 million, an increase of $7.1 million in Truckload revenue, and decreased fuel surcharge revenues of $14.0 million.
  • The Company expects its net capital expenditures to approximate $100 to $120 million for the full year of 2020, which includes an approximate $20 million transaction that carried over from the fourth quarter of 2019.