- Ashtead Q1 24 – 05/09 – has been one of the better performers on the FTSE100 this year, Ashtead's exposure to the US market ensuring that it has benefitted from the resilience of the US economy, through its US subsidiary Sunbelt. When the company reported its Q4 and full year numbers back in June the shares slipped back. Increased rental revenue has helped boost revenues and profits, with Q4 revenue rising from $1.87bn a year ago to $2.13bn. Full year revenues rose by 24% to $9.67bn, helping to boost pre-tax profits by 30% $2.15bn. For Q1 revenues are expected to rise to $2.65bn, with Sunbelt US expected to contribute $2.27bn of that, with operating margins expected to remain steady at 30%. Net profit is expected to increase to $476m.
- GameStop Q2 24 – 06/09 – the last two earnings reports have seen decent gains in the GameStop share price, however on both occasions these spikes proved to be the top of the moves higher with the share price now close to its lowest levels this year. It would appear that the higher rate environment is blunting risk appetite to these so-called meme stocks and its not hard to see why. While the company posted a surprise profit in Q4, it slipped back to a loss in Q1 of -$0.14c a share and is expected to see a similar loss in Q2 as well. Q1 revenues came in at $1.24bn, with hardware and accessories making up over half of that total at $726m. For Q2 revenues are expected to come in at $1.14bn, although inventories should reduce to $600m. Same store sales are expected to decline by 0.1%.
- DocuSign Q2 24 – 07/09 – DocuSign shares have had a disappointing time of it year to date, its shares slightly lower year to date, despite generally seeing their recent quarterly numbers coming in better than expected. They haven't really recovered from the weak guidance it issued at the end of last year when it gave weak guidance for Q1. When DocuSign reported in June, revenues came in comfortably ahead of expectations at $661.4m, while profits came in at $0.72c a share, sending the shares sharply higher initially, but the gains didn't last, even as guidance was upgraded for Q2 revenue of $675m to $679m, while full year revenue forecast was raised to between $2.71bn to $2.73bn.
