Pepsico Inc Q4 Profit Decreases, but beats estimates
Pepsico Inc (PEP) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company’s bottom line totaled $1.32 billion, or $0.95 per share. This compares with $1.85 billion, or $1.33 per share, in last year’s fourth quarter.
Excluding items, Pepsico Inc reported adjusted earnings of $2.13 billion or $1.53 per share for the period.
Analysts on average had expected the company to earn $1.52 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 12.4% to $25.25 billion from $22.46 billion last year.
Pepsico Inc earnings at a glance (GAAP) :
-Earnings (Q4): $1.32 Bln. vs. $1.85 Bln. last year.
-EPS (Q4): $0.95 vs. $1.33 last year.
-Analyst Estimates: $1.52
-Revenue (Q4): $25.25 Bln vs. $22.46 Bln last year.
Mohawk Industries Inc Q4 Profit Decreases, but beats estimates
Mohawk Industries Inc (MHK) released a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company’s bottom line totaled $189.09 million, or $2.80 per share. This compares with $248.22 million, or $3.49 per share, in last year’s fourth quarter.
Excluding items, Mohawk Industries Inc reported adjusted earnings of $198.97 million or $2.95 per share for the period.
Analysts on average had expected the company to earn $2.87 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 4.5% to $2.76 billion from $2.64 billion last year.
Mohawk Industries Inc earnings at a glance (GAAP) :
-Earnings (Q4): $189.09 Mln. vs. $248.22 Mln. last year.
-EPS (Q4): $2.80 vs. $3.49 last year.
-Analyst Estimates: $2.87
-Revenue (Q4): $2.76 Bln vs. $2.64 Bln last year.
Mettler-Toledo Lifts FY22 Outlook
While reporting its fourth-quarter results on Thursday, Mettler-Toledo International Inc. (MTD) lifted its outlook for the full year 2022.
The company now anticipates local currency sales growth in 2022 to be approximately 7% and adjusted earnings of $38.15 to $38.50 per share. This compares to previous local currency sales guidance of approximately 6% and adjusted earnings guidance of $37.25 to $37.65 per share.
Analysts polled by Thomson Reuters currently estimate earnings of $37.36 per share and revenue growth of 5.70%.
For the first quarter, the company expects currency sales growth of approximately 10%, and adjusted earnings to be $7.25 to $7.35 per share. Analysts currently estimate earnings of $7.28 per share and revenue growth of $11.90%.
Flowers Foods Q4 Profit Down
Flowers Foods, Inc. (FLO), Thursday reported fourth-quarter net income of $39.3 million or $0.18 per share, down from $55.8 million or $0.26 per share last year.
Adjusted earnings for the quarter was $0.20 per share, compared to $0.28 per share last year.
Sales for the fourth quarter was $983.5 million, down 3.9% from $1.02 billion last year.
Analysts polled by Thomson Reuters expected earnings of $0.21 per share on revenues of $991.1 million for the quarter.
Looking forward to the fiscal year 2022, the company expects sales of about $4.660 billion to $4.695 billion and adjusted earnings of about $1.25 to $1.35 per share. Analysts currently estimate earnings of $1.27 per share on revenues of $4.42 billion.
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Gold Holds Tight Range Ahead Of Inflation Data
Gold traded in a tight range on Thursday, as investors await a key report on U.S. inflation for more indications about the pace of tightening of monetary policy by the Federal Reserve.
Spot gold was virtually unchanged at $1,833.18 per ounce, while U.S. gold futures were down 0.2 percent at $1,833.85.
European government bond yields edged higher and the dollar index dipped slightly amid reports that more European Central Bank policymakers were losing confidence in the central bank’s current forecasting and emboldened a shift towards interest rate hikes later in 2022.
As inflation worries mount, market participants await U.S. consumer price data for January due later in the day for further direction.
The CPI is expected to rise by 7.3 percent on an annual basis in January, marking the highest reading seen since 1982.
A strong reading could put pressure on the Fed to raise rates more aggressively and at a faster pace than projected.
Speaking on CNBC’s “Squawk Box,” Atlanta Federal Reserve President Raphael Bostic said that he expects inflation to ease soon and that a three or four rate hike hikes may be appropriate for this year.
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