Thursday, July 1, 2021

2Q21 Earnings

Note: this is, hands down, one of the most boring things I to do each quarter. I doubt anyone really looks at it but the day I quit doing this will be the day I miss posting something important. The word "important" is used loosely. Very loosely.

This is so boring that I actually didn't record a thing for 1Q20, one year ago. LOL.

This is linked at the top of the sidebar at the right during earnings season. After earnings -- pretty much after PXD and Apple posts their earnings -- this post will move back into obscurity.

Disclaimer: this is not an investment site.

Earnings -- 2Q21
April - June, 2021

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A lot of anticipation and excitement over this quarter's earnings reports. We're starting to come out of the global pandemic; the lockdowns began in March, 2020, about a year ago. The stock market has had an incredible run since the presidential election about nine months ago. 

Most interesting: the oil companies. 

  • HES  7-28
  • CLR 8-2
  • MRO  8-4
  • EOG  8-4
  • OAS 8-2 to  8-6  not set in stone yet.
  • WLL  8-4 to 8-9
  • MNRL  8-10 to 8-16

Released July 27, 2021:

  • AAPL: huge beat:
    • at the close: $146.77; down $2.22; down 1.49%
    • eps: $1.30 vs $1.01
    • rev: $81 billion  estimates: $73 billion
    • comments:
      • iPhones $39.57 billion vs $34 Billion
      • after announcement; stock hardly moves; can you imagine how far this stock would have fallen had this earnings report missed expectations? wow?
      • wow; super-cycle playing out even stronger than expected; in six to nine months, a $3 trillion company
      • one analyst: share price up another 15% before the end of the year; $150 x 1.15 = $175
      • on-going chip shortage; affected Mac ad iPad
      • iPad beat estimatges but not by much;
      • gross margins; 43.3% vs 41.9% 
      • cash on hand: $190.64
  • MSFT: beats
    • at the close: $286.54; down $2.51; down 0.987%
    • eps: $2.17 vs $.192
    • rev:
    • comments: MSFT drops on earnings;
    • after announcement: down 3%; down $8.60;
  • VISA:
    • at the close: $250.19; down 6 cents; down 0.02%
    • eps:
    • rev:
    • comments:
    • after announcement:
  • GOOG: huge beat: actually, quite incredible;
    • at the close: $2,735.93, down $56.96; down 2.04%
    • eps: $27.26 vs $19.34
    • rev: $61.88 billion vs $56.16 billion
    • comments: well above estimates: the revenue number well above what analysts expected; analysts stunned; stock will jump tomorrow;
    • after announcement: up $69; up 2.4%; trading at $2,796
  • SBUX: beats across the board; strong report 
    • at the close: $126.03; down 3 cents; down 0.02%
    • eps: $1.01 vs 78 cents;
    • rev: $7.50 billion vs $7.29 billion
    • comments:
    • after announcement: down 2%; down $2.53;
  • Mattel: beat

TTE: proxy for international integrated operators pivoting to renewable energy. Link here.

Tesla / Toyota: 2Q21 supply chain management winners. Delivered cars in line with estimates / historical deliveries. Managed the semiconductor chip shortage. Tesla delivered 200,000+ cars for the first time ever in one quarter; in line with analysts' estimates. 

COP: August 3, 2021, conference call. From Motley Fool, July 1, 2021:

Oil giant ConocoPhillips recently unveiled its 10-year plan. The key takeaway is that the company expects to produce a massive amount of cash over the coming decade, even if oil prices decline, while returning a significant portion of that money to shareholders. ConocoPhillips has worked hard over the years to reduce costs. 
At $50 oil, ConocoPhillips could generate $70 billion of free cash flow over the next 10 years after investing enough money to maintain its production rate and enhance its returns. To put that into perspective, ConocoPhillips' current market capitalization is less than $82 billion.

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