A slew of major companies are set to report earnings after the bell. Below are the key metrics to watch for each.
Meta
Meta (META) will report its first quarter earnings after the bell on Wednesday, with Wall Street looking for another sizable jump in revenue for the social media giant. Shares of Meta have been on a tear, climbing 116% over the last 12 months and more than 45% year to date.
For the first quarter, Wall Street is expecting Meta to report earnings per share of $4.30 on revenue of $36.1 billion, according to analysts’ estimates compiled by Bloomberg. That would mark another huge jump in EPS and revenue from the same quarter last year when the company reported earnings of $2.20 on revenue of $28.6 billion.
Read more from Yahoo Finance’s Dan Howley.
Chipotle
Limited-time offers like the return of the Carne Asada and Chicken al Pastor, which are priced at a premium, can help boost results against a difficult macro consumer backdrop. The chain, which saw its foot traffic hold up in 2023, is battling against higher labor costs and sticky inflation — though it implemented higher prices to offset those headwinds.
Here’s what Wall Street expects from Chipotle, according to Bloomberg estimates:
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Revenue: $2.67 billion, up 12.9% from Q1 2023 ($2.37 billion)
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Adjusted earnings per share: $11.66, up 11.1% from Q1 2023 ($10.50)
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Same-store sales growth: 5.13%
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Menu price increases: 2.87%
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Transactions growth: 3.03%
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Average check growth: 2.00%
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Digital sales growth: 3.39%
Read more from Yahoo Finance’s Brooke DiPalma.
Ford
Ford (F) will report first quarter results after the bell on Wednesday. Its changing product game plan will be front and center with its focus on gas and hybrid offerings to offset heavy spending on EVs.
For the quarter, Ford is expected to report revenue of $40.04 billion, per Bloomberg consensus, a result that would be 3.5% lower than a year ago. Ford is also expected to post adjusted earnings per share of $0.42 on adjusted EBIT (earnings before interest and taxes) of $2.54 billion. Ford’s results should be slightly better than those in Q4, when it was dealing with the lingering effects of the United Auto Workers (UAW) strike.
Read more from Yahoo Finance’s Pras Subramanian.