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Spirit Airlines Cuts Revenue Forecast, J.B. Hunt Disappoints Analysts’ Estimates, and More Earnings Updates

Fernanda T
Latest News
July 17 2024 6:28AM

Spirit Airlines (NYSE:SAVE) – Spirit Airlines reduced its revenue forecast for the second quarter to $1.28 billion, down from the previous estimate of $1.32-1.34 billion, due to lower ancillary revenue. Revenue per passenger is estimated at $64, below expectations. The adjusted negative operating margin is projected between 13.5% and 12.5%. Shares fell 6.33% in pre-market trading.

ASML (NASDAQ:ASML) – ASML will report second-quarter results before the market opens on Wednesday. An increase in orders is expected as customers expand capacity to meet demand for AI chips. Attention will be on older equipment purchases by Chinese companies due to Western restrictions on advanced technology. Shares fell 6.55% in pre-market trading.

Johnson & Johnson (NYSE:JNJ) – J&J will report second-quarter results today before the market opens. Analysts expect the pharmaceutical company to report earnings of $2.71 per share, slightly below last year’s $2.80. Expected revenue is $22.33 billion, down from $25.53 billion previously. Shares rose 0.71% in pre-market trading.

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) – TSMC is expected to report a quarterly net profit of approximately $7.22 billion on Thursday, a 29% increase from the previous year. Estimated second-quarter revenue is NT$673.51 billion, driven by high demand for PC and smartphone chips, especially with the anticipated iPhone launch. Shares fell 3.31% in pre-market trading.

Interactive Brokers (NASDAQ:IBKR) – The online brokerage firm Interactive Brokers exceeded market expectations by posting adjusted earnings of $1.76 per share and revenue of $1.29 billion. These results surpassed analysts’ predictions of $1.74 per share and $1.27 billion in revenue, according to LSEG. The company also reported a significant 28% growth in customer accounts and a 32% increase in margin loans year-over-year.

J.B. Hunt (NASDAQ:JBHT) – The transportation and logistics company J.B. Hunt disappointed analysts’ estimates in the second quarter. Earnings were $1.32 per share, while analysts surveyed by LSEG anticipated $1.52 per share. Additionally, revenue reached $2.93 billion, falling short of the $3.04 billion expected by analysts. The company faced challenges from increased insurance expenses and a weakened freight market, affecting competitiveness in road transportation.

Omnicom (NYSE:OMC) – The marketing and communications company announced earnings that matched analysts’ expectations. Omnicom reported adjusted earnings of $1.95 per share, exactly as predicted by analysts consulted by FactSet. The company reported revenue of $3.85 billion, slightly surpassing the expectations of $3.83 billion.

Hancock Whitney (NASDAQ:HWC) – Hancock Whitney Bank reported increased second-quarter earnings despite a decline in deposits. Net income was $114.6 million, or $1.31 per share, above last year’s $108.6 million, or $1.24 per share, beating the forecast of $1.20 per share. Adjusted revenue before provisions rose to $156.4 million. However, loans decreased by 1%, and deposits fell by 2%.

Fulton Financial (NASDAQ:FULT) – Fulton Financial exceeded analysts’ expectations in its second-quarter earnings per share, reporting 47 cents against an estimate of 30 cents. Its revenue of $246.28 million also surpassed analysts’ estimate of $235.55 million, representing an increase of 4.55%.

Pinnacle Financial Partners (NASDAQ:PNFP) – Pinnacle Financial reported second-quarter earnings of $1.63 per share, above the consensus estimate of $1.60, but below last year’s $1.79, adjusted for non-recurring items. Revenue was $366.55 million, 14.04% below the estimate and lower compared to $489.23 million in the same quarter last year.

America Movil (NYSE:AMX) – The Mexican telecommunications company reported a loss of $60 million in the second quarter, influenced by the devaluation of the Mexican peso. The company’s revenue increased by 1.5%, reaching $11.24 billion, and EBITDA rose nearly 6%, totaling around $4.54 billion.