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A Few Notes on Today’s Market
Posted by Eddy Elfenbein on February 26th, 2020 at 5:06 pmToday was an unusual day for the market. At one point, the Dow was up 461 points. At its low, the Dow was down 190 points. It closed down 123 points.
Middleby (MIDD) closed up 7.95%. At one point, it was up more than 20%.
Ansys (ANSS) crushed earnings but had lousy guidance. The stock gained 1.4% today but is down 3.8% in the after-hours session.
Disney (DIS) lost 3.77% which is nearly $9 billion in market cap. That suggests that Robert Iger is worth a lot to the business.
Trex (TREX) fell 5% today even though it was up yesterday. Some analysts pared back their Q1 forecasts.
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Ansys Beats Earnings
Posted by Eddy Elfenbein on February 26th, 2020 at 4:21 pmAfter the closing bell, Ansys (ANSS) reported Q4 earnings of $2.24 per share. Wall Street had been expecting $1.98 per share. For the year, Ansys made $6.58 per share.
Ajei Gopal, Ansys President & CEO, said, “Q4 was an outstanding quarter concluding a stellar 2019. We grew double digits across revenue and ACV for the quarter and the year, and I am confident we are tracking towards our 2022 objective of $2 billion in ACV.”
For Q1, Ansys sees revenues ranging between $300 million and $320 million and earnings between 75 and 88 cents per share.
That’s well below consensus. Wall Street had been expecting $360 million and earnings of $1.36 per share.
For the year, Ansys sees revenues between $1.64 billion and $1.70 billion, and EPS between $6.19 and $6.71.
For the year, Wall Street had been expecting $1.68 billion and earnings of $6.76 per share.
The stock was up 1.4% today. The stock is currently down about 6% in the after-hours market.
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Middleby Earns $2 per Share
Posted by Eddy Elfenbein on February 26th, 2020 at 11:46 amThe stock market is looking much better this morning after the unpleasantness of the last two days. President Trump will be speaking at 6 p.m. ET on the virus outbreak.
We got a very good earnings report this morning from Middleby (MIDD). At one point this morning, the shares gapped up over 20%.
For Q4, the company made $2.00 per share. That crushed estimates of $1.71 per share. Quarterly sales rose 4.1% to $787.6 million. For the year, Middleby made $7.02 per share. This was a great quarter for them.
CEO Timothy FitzGerald said, “Over the past year we made significant investments in new product innovations addressing these categories and are pleased to see growing interest as we enter 2020. We are well-positioned with a much improved backlog as we closed out 2019 and are confident it will translate into sales and profitability growth for the upcoming year.”
Ansys (ANSS) will be reporting after today’s close. Also, shares of Disney (DIS) are lower today after CEO Robert Iger said he’ll be retiring.
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Q4 2019 Earnings Calendar
Posted by Eddy Elfenbein on February 26th, 2020 at 8:45 amTwenty-one of our 25 Buy List stocks are reporting their Q4 earnings during this earnings season. Here’s a list of reporting dates, Wall Street’s consensus estimates and actual reported results.
Eddy Elfenbein is a Washington, DC-based speaker, portfolio manager and editor of the blog Crossing Wall Street. His