Some companies experienced roller coaster ride after the earnings release. You can find the stocks that rose or fell most in "Movers & Shakers" on Tiger Trade app.
In this article, we gonna brief four companies: $PacWest(PACW)$, $Chipotle Mexican Grill(CMG)$, $Enphase Energy(ENPH)$, and $United Parcel Service Inc(UPS)$.
1. $PacWest(PACW)$ up 20.37% as it reports deposit inflows
It’s a consensus that after the bank run, the most important indicator for a bank is the deposit.
Regional bank $PacWest(PACW)$ jumped 20% after PacWest said it has seen deposit inflows over the past month. PacWest said deposits fell more than 16% during the first quarter to roughly $28.2 billion.
However, the bank said it has added about $1.8 billion in deposits since March 20, which was its prior update to investors. That sum includes $700 million in deposits in April. PacWest also reported a net loss of $1.21 billion for the quarter, due largely to a goodwill impairment charge.
2. $Chipotle Mexican Grill(CMG)$ jumped 7.7%: EPS, revenue and same-store sales all beat
The burrito chain Chipotle Mexican Grill jumped 7.7% after hours following the company’s latest financial results. Its earnings and revenue both topped analysts’ expectations, fueled by better than expected same-store sales growth. Same-store sales rose 10.9%, topping StreetAccount estimates of 8.6%.
EPS: $10.50 vs. $8.92
Revenue: $2.37 bln vs. $2.34 bln
Same-store sales growth: 10.9% vs. 8.6%
The company reiterated its plans to open between 255 to 285 new restaurants during 2023.
3. $Enphase Energy(ENPH)$ down 15.8% after revenue missed estimates
The solar inverter company plunged about 16% after hours after reporting a mixed quarter that included disappointing revenue results.
Adjusted EPS: $1.37 vs. $1.23 expected
Revenue: $726.02 mln vs. 723.50 mln expected
Enphase’s revenue was $726 million, missing the expectations of $732.5 million, according to Refinitiv. Its competitor SolarEdge slid more than 6%.
4. $United Parcel Service Inc(UPS)$ down 10.01%: EPS & Revenue both missed
United Parcel Service reported lower-than-expected earnings and revenue for the first quarter, leading to concerns about a wider economic slowdown. UPS CEO Carol Tomé cited a deceleration in U.S. retail sales and ongoing demand weakness in Asia as reasons for the weaker performance.
UPS stock dives as earnings beat, but U.S. domestic revenue, outlook come up short - MarketWatch
Adjusted EPS: $ 2.20 vs. $2.21
Revenue: $22.93 bln vs. $23.01 bln
Comments