Delta Air Lines Inc Q1 Earnings Summary

Below are the earnings highlights for Delta Air Lines Inc (DAL):

Earnings: -$363 million in Q1 vs. -$940 million in the same period last year.
EPS: -$0.57 in Q1 vs. -$1.48 in the same period last year.
Excluding items, Delta Air Lines Inc reported adjusted earnings of $163 million or $0.25 per share for the period.

Analysts projected $0.30 per share
Revenue: $12.76 billion in Q1 vs. $9.35 billion in the same period last year.

-Guidance:
Next quarter EPS guidance: $2.00 – $2.25
Full year EPS guidance: $5.00 – $6.00

Fastenal Co. Profit Climbs In Q1, Beats estimates

Fastenal Co. (FAST) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings came in at $295.1 million, or $0.52 per share. This compares with $269.6 million, or $0.47 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $0.50 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.4% to $1.86 billion from $1.70 billion last year.

Fastenal Co. earnings at a glance (GAAP) :

-Earnings (Q1): $295.1 Mln. vs. $269.6 Mln. last year.
-EPS (Q1): $0.52 vs. $0.47 last year.
-Analyst Estimate: $0.50
-Revenue (Q1): $1.86 Bln vs. $1.70 Bln last year.

Gold Edges Higher On US Recession Worries

Gold prices edged higher on Thursday after overnight data showed U.S. inflation rate eased to 5 percent in March, the lowest rise in almost 2 years – bolstering expectations the Federal Reserve may pause rate hikes or nearing a peak.

Spot gold rose 0.6 percent to $2,026.51 per ounce while U.S. gold futures were up 0.8 percent at $2,040.75.

The dollar and emerging market currencies strengthened amid rising bets that the Fed may hold rates steady in May, something it has not done for more than a year and could cut interest rates later this year in order to prop up the economy.

Warnings of a rising risk of U.S. recession also boosted safe-haven demand for bullion.

Recession risks have increased as turmoil snarls the financial sector, according to an IMF report Tuesday.

According to minutes of the Fed’s March meeting released on Wednesday, Federal Reserve economists predict that turmoil after the collapse of several banks will cause a “mild recession” later this year.

Oil Subdued After Recent Gains

Oil prices were flat to slightly lower on Thursday after data showed a small build in U.S. crude oil stocks.

Worries about a U.S. recession and much uncertainty about the Federal Reserve’s tightening campaign also weighed on prices, while strong exports data from China helped cap the overall downside.

Benchmark Brent crude futures slipped 0.2 percent to $87.17 a barrel, while WTI crude futures were down 0.1 percent at $83.16.

A report from the Energy Information Administration showed that crude oil inventories crept up by 0.6 million barrels last week compared to expectations for a decrease of 0.6 million barrels.

U.S. inflation rate eased to 5 percent in March, the lowest rise in almost 2 years, but many economists said they still expect the Fed to raise rates by another quarter point early next month.

Elsewhere, China exports posted a surprise growth in March, while imports continued to fall, albeit slowly, as foreign trade gained strength following the relaxation of the zero COVID policy.

Exports expanded 14.8 percent on a yearly basis in March, the General Administration of Customs reported earlier today. This was the first growth in six months.

Moreover, the annual growth was more than double the 6.8 percent increase logged in the first two months of the year.

On the other hand, imports logged an annual fall of 1.4 percent – slower than economists’ forecast of 5.0 percent decrease as well as the 10.2 percent contraction seen in the January to February period.

Novo Nordisk Q1 Sales Up 25% At CER; Raises FY Outlook

Novo Nordisk (NVO), a Danish pharmaceutical firm, reported that its first quarter sales increased by 25% and operating profit increased by 28%, both at constant exchange rates or CER. Wholesaler inventory movements in the US positively impacted sales growth.

The company raised full-year sales and operating profit outlook at CER, reflecting Wegovy prescription trends in the first quarter and higher full-year expectations for sales of Wegovy in the US. The updated sales outlook also reflects higher full-year expectations for Ozempic sales, mainly in the US, following accelerated volume growth of the GLP-1 class.

The company now expects annual operating profit growth to be 28%-34% compared to the prior estimation of 13%-19%.

The company now projects annual sales growth to be 24%-30% compared to the previous outlook of 13%-19%.

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Infosys Ltd Q4 Profit misses estimates

Infosys Ltd (INFY) revealed earnings for fourth quarter that missed the Street estimates.

The company’s earnings totaled $744 million, or $0.18 per share. This compares with $752 million, or $0.18 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 6.4% to $4.554 billion from $4.280 billion last year.

Infosys Ltd earnings at a glance (GAAP) :

-Earnings (Q4): $744 Mln. vs. $752 Mln. last year.
-EPS (Q4): $0.18 vs. $0.18 last year.
-Analyst Estimates: $0.19
-Revenue (Q4): $4.554 Bln vs. $4.280 Bln last year.