The Coca-Cola Company reported first quarter 2022 revenues increased 16% on unit case volume growth, improved business mix and price increase. Sparkling soft drinks grew 7% driven by increases in all geographies and hydration, sports, coffee and tea reported 10% increase in the quarter.
KO
KO
The S&P 500 and Nasdaq Composite indexes extended losses to the fourth week and April month sell-off as coronavirus cases spike in China. The new tough measures in China are likely to prolong supply chain disruptions as Shanghai enters the fourth week of lockdown. Bond yields and crude oil prices ease.
Danaher Corp said first quarter 2022 revenues rose 12% driven by a 4% increase in Covid-19 related testing revenues. Net income was flat. Diagnostic segment revenues in the quarter rose 21.5% followed by 9.5% growth in the Life Sciences segment.
DHR
DHR
Pool Corp said first quarter 2022 revenues surged 33% and net income soared 82% from a year ago. The pool supplies wholesale distributor said early inventory build up, prices hikes between 10% and 12%, and recent acquisitions funded with debt helped the latest quarterly results.
POOL
POOL
Newmont Corporation said first quarter revenues increased 5% on the back of higher average realized gold prices and higher copper sales volumes, which were partially offset by lower gold sales volumes. However, higher operating costs and weaker yield depressed quarterly earnings 20%.
NEM
NEM
The craft brewer reported a surprise decline in depletion and shipment rates and blamed the fall on the supply chain disruptions. The demand deceleration in hard seltzer products overwhelmed the comparable sales in its flagship Samuel Adams beer brand. The brewer said it plans to increase prices between 3% and 5% but GAAP based annual profits are not likely.
SAM
SAM
HCA Healthcare said first quarter revenues increased on more patients and higher revenues per patient but rising labor costs overshadowed quarterly results. The hospital operator also tightened and lowered the annual revenues and earnings per share estimate.
HCA
HCA
Benchmark indexes extended losses for the third week in a row as investors prepare for faster rate increase and adjust economic outlook. The ongoing war in Europe and China lockdown are intensifying market uncertainties, sustaining energy price inflation, and lengthening supply chain disruptions.
NUE FCX MSFT AAPL DDS
NUE FCX MSFT AAPL DDS
American Express first quarter 2022 revenues increased 29% largely on the increase in spending from card members. The financial services company said travel and entertainment spending by its members more than doubled and reached pre-pandemic level in March. The company reaffirmed its full-year revenue growth and earnings per share outlook.
AXP
AXP
The consumer products maker said first quarter 2022 sales increased 7% but net income declined 10%. The company also lifted its annual sales and organic sales outlook but left its annual earnings estimate unchanged.
KMB
KMB
Schlumberger quarterly net income soared 70% on 14% increase in revenues. The oil field services provider indicated that the company is poised to benefit from the new investment committed to increase drilling activities and diversify energy supply base and the duration and scale of upcycle may last longer than 2023.
SLB
SLB
The S&P 500 and Nasdaq indexes trade lower as bond yields continue to rally and global markets adjusts to Fed's willingness to lift rates faster. European markets are down 1.5%, Nikkei fell 1.6% and the Japanese yen dropped to a 20-year low. Sensex in India drooped 1.2% as bond yields advanced.
Quarterly revenues increased 38% to $1 billion and daily active users increased 18% from a year ago. The company also highlighted its moves in the Augmented Reality technology and the rapid adoption by its user base.
UAL
UAL
The company reported record quarterly total sales, margin expansion, and double-digit earnings growth.
GPC
GPC