Post 10/26 Q3 FY21’ Earnings Analysis

Oct 27, 2021

MMM, AMP, GOOGL, GE, AMD, COF, HAS, V, TWTR, UPS, RTX, NVS

MMM - 3M - reported EPS of $2,45/share - beat estimates of 2.21/share - revenue of 8.94B +7.09% YoY

Organic local-currency sales up 6.3% YoY
Operating CF of 1.9B
Adjusted FCF of 1.5B (20%) YoY
Returned 1.4B to shareholders in dividends
Industrial FCF tops estimates

Narrows FY21 EPS outlook - trims full-year earnings view on supply chain challenges

Down (0.09%) after hours


GOOGL - Google Alphabet Class A - reported EPS of 27.26/share - beat estimates of 19.89/share

Revenue of 53.62B
Top Line growth of 44%
Ad Revenue of 53.13B up 44%
Revenue from Cloud Division of 4.99B up 45%
Reported a 188M gain on investments up 623.1% YoY

Down (0.22%) after hours


GE - General Electric - reported EPS of 0.57/share - beat estimates of 0.24/share - revenue of 18.43B down (0.5%) YoY

Improvements in FCF performance & growth in earnings - despite weakness in revenues
Bottom Line up 50% YoY
Sales suffered from weakness in Healthcare & Renewable Energy segments - partially offset by gains in Aviation
Organic & Industrial Revenues down (1%) YoY - Aviation Revenues up 10% YoY

Up +0.01% after hours


AMD - Advanced Micro Devices - reported EPS of 0.73/share - beat estimates of 0.67/share - revenue of 4.31B up 54% YoY

Adjusted Gross Margin of 48% - in line with estimates - up 44% YoY
Capital Expenditures of 85M
Computer/Graphics segment revenue of 2.4B up 44% YoY

Q4 revenue estimates raised to 4.6B

Down (0.41%) after hours


COF - Capital One - Reported EPS of 4686/share - beat estimates of 4.99/share - revenue of 7.83B +6.1% YoY

Earnings Surprise of 31.42%
Beat consensus EPS estimates past 4 quarters
Revenue rise reflects loan growth
Net credit card charge-offs improved in Sept

Down (4.01%) after hours


HAS - Hasbro - reported EPS of 1.96/share - beat estimates of 1.70/share - revenue of 1.97B +10.88% YoY

Operating Profit of 367.9M up 9% YoY
Adjusted Operating Profit of 389.6M up 6% YoY
Net Earnings of 253.2M up 15% YoY
Adjusted Net Earnings of 271.2M up 5% YoY

Supply chain challenges weigh on top line
Further reduced debt & maintained a strong cash position - repaid 400M of debt & funded quarterly dividend

Up +1.46% after hours


V - Visa - reported EPS of 1.62/share - beat estimates of 1.53/share - revenue of 6.56B up 27.45% YoY

Earnings Surprise of 5.88%
Surpassed consensus EPS estimates past 4 quarters
Announce boost in quarterly dividend

Down (2.60%) after hours


TWTR - Twitter - reported EPS of ($0.54) - missing estimates of 0.02/share - revenue of 1.28B up 37% YoY

Reported a net loss of (537M) vs. 229M in FY20' due to a legal settlement - does not expect to recoup the full revenue loss
Ad Revenue rose more than 41% YoY to 4.14B up 6% YoY
Number of Monetized users grew by 5M - user base up 13% YoY
Apple's privacy changes to iOS 14 has less of an impact than expected

UPS - United Parcel Service - reported EPS of 2.71/share - beat estimates of 2.55/share - revenue of 23.18B

US Domestic Package Revenues of 14.2B up 7.4% YoY
Bottom Line up 18.9% YoY with strong performance across all segments
Top Line up 9.2% YoY drive by up beat demand for e-commerce related package deliveries
Operating Profit of 2.97B up 23.4% YoY

Up +0.52% after hours


RTX - Raytheon Technologies - reported EPS of 1.26/share - beating estimates of 1.08/share - revenue of 16.2B up 7.7% YoY

Sales of 16.2B - missing estimates of 16.9B - up 9.9% YoY
Operating Profit of 1.3B - up 209.5% YoY
Bottom Line up 125% YoY - attributable to higher YoY revenues & operating profit
Newly disclosed quarterly dividend paid 0.51/share on 10/19/21 - represents a $2.04 dividend on an annualized basis

Down (0.46%) after hours


NVS - Novartis - reported EPS of 1.71/share - beat estimates of 1.64/share - revenue of 13.03B up 6.2% YoY

Net Income of 2.76B up 43% YoY
Net Sales $13,03B up 6% YoY - volume contributed 9 percentage points to sales growth

Down (1.38%) after hours