Earnings

February 23, 2024

Carvana Careens To New Highs

The return of “left for dead” stocks continues as investors look for opportunities in the market beyond the “magnificent seven.” 🔍

Carvana is an excellent example of this turnaround story in action, with the stock posting its first-ever annual profit and catching several analyst upgrades. 💊

The online car retailer’s $450 million in net income during 2023 compared to a $1.59 billion loss in 2022. Management’s focus on cost-cutting is paying dividends, and it is currently working on step two of a three-step restructuring plan.

While management admitted the macroeconomic car-selling environment remains uncertain, it now expects to grow retail units sold in 2024. And with its total gross profit per unit more than doubling to $5,283 last quarter, improved unit economics should help it approach breakeven on an adjusted EBITDA basis. 🔚

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Dave Rides The Speculation Wave

March 5, 2024

Long story long, the stock was priced for bankruptcy, but the company actually turned things around. It’s still got a long road ahead of it, but “not dead” is a big improvement from imminent bankruptcy… And that is certainly reflected in $CVNA shares, which made a new cycle high and are now up 2,100% from their lows. 📈

We’ll see if it can continue, but the wild ride for Carvana bears certainly continued this week. ðŸĪŠ

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Snow Rest For The Wicked

Earnings season is a tough time for investors in several retail favorites, including Snowflake and AMC Entertainment. Let’s quickly see how they fared during their most recent quarters. 👇

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BJ’s Beats Costco For The Day

Today’s action shows that BJ’s may have a branding problem in the retail investing community. Despite the company’s results topping expectations today, sentiment readings from are community are still weaker than you’d expect. ðŸĪ” 

BJ’s Wholesale Club revenues grew 8.70% YoY to $5.357 billion, with adjusted earnings of $1.11 per share. While earnings topped expectations, revenue was slightly below, with executives citing an uncertain macroeconomic environment as the primary driver.

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Headline Vs. Reality (Media Edition)

One of the perplexing things about markets is that sometimes headlines don’t necessarily match the reaction in markets. And that was certainly the case today in struggling media giant Warner Bros. Discovery. 📰

The Hollywood Reporter wrote an article boasting that Warner Bros became the first Hollywood conglomerate to turn a full-year streaming profit ($103 million).  

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Earnings

February 15, 2024

Another Day, Another Chip Rally

It’s another day, which means investors and traders were buying anything in the semiconductor space that isn’t tied down. Let’s see what you missed. 👇

First up, chip-equipment company Applied Materials soared to new all-time highs after citing “artificial intelligence” momentum during its earnings call. Adjusted earnings per share and revenues both topped expectations, while its current-quarter expectations also beat estimates. 🏭

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Earnings

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Sellers Unleash On Unity

Video game software developer Unity probably wishes it could reload its last saved checkpoint after reporting another quarter of lackluster earnings. ðŸ‘ū

Although revenues of $609 million topped expectations of $451 million, management noted revenue would have been $510 million if its deferred revenues were not released. Meanwhile, the company’s net loss of $0.66 was narrower than last year’s $0.82 but still much higher than analysts’ $0.46 per share expectation. 🔚

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Earnings

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The Internet Of Things Grows Wings

While sentiment surges around crypto and artificial intelligence, it’s no surprise to see that hype around the “Internet of Things” company Samsara is also popping off. ðŸĪĐ

The stock jumped to fresh all-time highs in the after-hours session following better-than-expected results. Its fourth-quarter revenues of $276.3 million topped estimates of $258.3 million, with its adjusted loss also narrower than anticipated. 💊

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The Battle Of The Clothing Boxes

The online personal styling business might’ve been a solid bet during the ZIRP era, but it has really taken a beating in the post-pandemic world. Today, we heard from Stitch Fix and ThredUp, battling for survival in the public markets. ðŸ“Ķ

First up, Stitch Fix reported a $0.29 per share loss on $330.40 million in revenues. Both numbers missed estimates of a $0.22 loss and $330.88 million. Looking ahead, the company’s third-quarter revenue guidance of $300 to $310 million also missed expectations. ðŸ”ŧ

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