>>> Shopify beats by $0.14, beats on revs; guides Q2 revs above consensus; rai

Shopify beats by $0.14, beats on revs; guides Q2 revs above consensus; raises FY19 outlook (225.79)
  • Reports Q1 (Mar) earnings of $0.09 per share, excluding non-recurring items, $0.14 better than the S&P Capital IQ Consensus of ($0.05); revenues rose 49.6% year/year to $320.5 mln vs the $310.11 mln S&P Capital IQ Consensus.
  • Subscription Solutions revenue grew 40% to $140.5 million. This increase was driven primarily by growth in Monthly Recurring Revenue, largely due to an increase in the number of merchants joining the Shopify platform. Merchant Solutions revenue grew 58%, to $180.0 million, driven primarily by the growth of Gross Merchandise Volume, as well as by robust growth in Shopify Capital and Shopify Shipping. GMV for the first quarter was $11.9 billion, an increase of $3.9 billion, or 50%, over the first quarter of 2018. Gross Payments Volume grew to $4.9 billion, which accounted for 41% of GMV processed in the quarter, versus $3.0 billion, or 38%, for the first quarter of 2018.
  • Co issues upside guidance for Q2, sees Q2 revs of $345-350 mln vs. $342.73 mln S&P Capital IQ Consensus; adj. operating loss $6-8 mln, just below ests.
  • Co issues in-line guidance for FY19, sees FY19 revs of $1.48-1.50 bln vs. $1.49 bln S&P Capital IQ Consensus; raises adj. operating income to $20-30 mln from $10-20 mln

>>> ConocoPhillips beats by $0.10; Reiterates long term cash flow outlook from N

ConocoPhillips beats by $0.10; Reiterates long term cash flow outlook from November Analyst meeting; Lowers full year depreciation outlook (62.65)
  • Reports Q1 (Mar) earnings of $1.00 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $0.90.
  • "At our Analyst & Investor Meeting in November we intend to showcase a decade-long plan based on our current portfolio with capital averaging less than $7 billion per year. At a reference price of $50 per barrel WTI, we expect our plan will generate absolute and per-share organic growth and return at least 30 percent of cash from operations to shareholders annually. We believe that our flexibility uniquely positions us to extend our successful strategy for many years, deliver free cash flow at less than $40 per barrel WTI and achieve superior returns across a range of prices."
  • Second-quarter 2019 production is expected to be 1,240 to 1,280 MBOED, reflecting the impact from seasonal turnarounds planned in Alaska, Canada and Europe. The guidance excludes Libya and does not include impacts from the recently announced U.K. divestiture agreement.
  • Full-year guidance for depreciation, depletion and amortization has been decreased to $6.1 billion, reflecting the held-for-sale impact of the U.K. divestiture agreement. The company's other full-year guidance is unchanged and does not include impacts from the U.K. divestiture agreement

>>> Oshkosh beats by $0.16, reports revs in-line; raises FY19 EPS above consen

Oshkosh beats by $0.16, reports revs in-line; raises FY19 EPS above consensus, revs above consensus (80.54)
  • Reports Q2 (Mar) earnings of $1.82 per share, $0.16 better than the S&P Capital IQ Consensus of $1.66; revenues rose 5.5% year/year to $1.99 bln vs the $1.98 bln S&P Capital IQ Consensus.
  • Co issues upside guidance for FY19, sees EPS of $7.50-7.80, excluding non-recurring items, vs. $7.47 S&P Capital IQ Consensus and prior guidance of $7.00-7.50; sees FY19 revs of $8.2-8.3 bln vs. $8.19 bln S&P Capital IQ Consensus and prior guidance of $8.05-8.25 bln.
  • The Company's Board of Directors today declared a quarterly cash dividend of $0.27 per share of Common Stock. The dividend will be payable on May 30, 2019, to shareholders of record as of May 16, 2019

>>> Blue Apron beats by $0.04, misses on revs (1.04) Reports Q1 (Mar) loss of $

Blue Apron beats by $0.04, misses on revs (1.04)
  • Reports Q1 (Mar) loss of $0.03 per share, $0.04 better than the two analyst estimate of ($0.07); revenues fell 27.9% year/year to $141.89 mln vs the $149.79 mln S&P Capital IQ Consensus.
    • Average revenue per customer increased to $258 from $250
    • Average order value increased to $57.15 from $56.58
    • Customer count decreased to 550,000 from 786,000

>>> Phillips 66 beats by $0.05 (95.36) Reports Q1 (Mar) earnings of $0.40 per s

Phillips 66 beats by $0.05 (95.36)
  • Reports Q1 (Mar) earnings of $0.40 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $0.35.
  • "Our first-quarter results reflect the benefit of our diversified portfolio despite a weak market environment," said Greg Garland, chairman and CEO of Phillips 66. "In Chemicals, CPChem operated at 98% O&P utilization, and in Midstream, we had strong operating performance across our NGL value chain. We executed major turnaround activities at several refineries and were impacted by unplanned downtime. We returned $708 million to shareholders through dividends and share repurchases in the quarter. We continued to advance our major growth projects, including the Gray Oak Pipeline and the new Sweeny fractionators.

>>> Martin Marietta beats by $0.41, beats on revs; reaffirms FY19 revs guidance

Martin Marietta beats by $0.41, beats on revs; reaffirms FY19 revs guidance (214.53)
  • Reports Q1 (Mar) earnings of $0.68 per share, $0.41 better than the S&P Capital IQ Consensus of $0.27; revenues rose 17.1% year/year to $938.96 mln vs the $881.82 mln S&P Capital IQ Consensus.
  • Co reaffirms guidance for FY19, sees FY19 revs of $4.48-4.68 bln vs. $4.56 bln S&P Capital IQ Consensus.
  • "Consistent with our expectations, construction activity in our key regions, supported by strengthening public- and private-sector spending, is outpacing the nation as a whole. Infrastructure construction has begun in earnest on several transportation projects in North Carolina, Georgia and Florida following the recent acceleration in public lettings and contract awards in these key states. Additionally, notable employment gains and population growth continue to support private-sector strength in our leading markets. These favorable dynamics bode well for a busy construction season throughout the remainder of the year.

>>> A.O. Smith misses by $0.04, misses on revs; guides FY19 EPS in-line (55.81)

A.O. Smith misses by $0.04, misses on revs; guides FY19 EPS in-line (55.81)
  • Reports Q1 (Mar) earnings of $0.53 per share, $0.04 worse than the S&P Capital IQ Consensus of $0.57; revenues fell 5.1% year/year to $748.2 mln vs the $764.16 mln S&P Capital IQ Consensus.
  • Sales of the North America segment were $521.8 mln, a 4% increase over the same period in 2018. Sales increased due primarily to higher volumes of boilers and water treatment products and mid-2018 water heater pricing actions related to steel and freight cost increases, which were partially offset by lower residential water heater volumes.
  • First quarter sales of $232.1 mln for the Rest of World segment declined approximately 21% compared with the same quarter in 2018. In China, sales were down 18% in local currency compared with the same period in the prior year, in line with the company's previously-stated expectations.
  • Co issues in-line guidance for FY19, sees EPS of $2.69-$2.75 vs. $2.71 S&P Capital IQ Consensus. Co expects both operating segments to improve significantly in the second half of the year compared with the first half of 2019.
    • Co projects significantly improved second half yr/yr performance, primarily in our North America segment as a result of weakness experienced in 3Q18

>>> Simon Properties beats by $0.02, beats on revs; reaffirms FY19 FFO guidance

Simon Properties beats by $0.02, beats on revs; reaffirms FY19 FFO guidance (175.75)
  • Reports Q1 (Mar) funds from operations of $3.04 per share, $0.02 better than the S&P Capital IQ Consensus of $3.02; revenues rose 4.2% year/year to $1.45 bln vs the $1.43 bln S&P Capital IQ Consensus.
  • Reported retailer sales per square foot was $660, an increase of 3.1%, for the trailing 12-months ended March 31, 2019. Occupancy was 95.1% at March 31, 2019, compared to 94.6% at March 31, 2018.
  • Co reaffirms guidance for FY19, sees FFO of $12.30-12.40 vs. $12.48 S&P Capital IQ Consensus

>>> Merck beats by $0.17, beats on revs; raises FY19 EPS and rev outlook (76.78

Merck beats by $0.17, beats on revs; raises FY19 EPS and rev outlook (76.78)
  • Reports Q1 (Mar) earnings of $1.22 per share, excluding non-recurring items, $0.17 better than the S&P Capital IQ Consensus of $1.05; revenues rose 7.8% year/year to $10.82 bln vs the $10.45 bln S&P Capital IQ Consensus, excluding the negative impact from foreign exchange, worldwide sales grew 11%. International sales represented 58% of total sales in the quarter. Performance in international markets was led by China, which had sales growth of 58% compared with the first quarter of 2018, driven by vaccines and oncology. Excluding the unfavorable effect of foreign exchange, sales in China grew by 67%.
  • First-quarter pharmaceutical sales were $9.7 billion, an increase of 8% compared with the first quarter of 2018; excluding the unfavorable effect of foreign exchange, sales grew 12% in the first quarter. The increase was driven primarily by growth in oncology and vaccines, partially offset by the ongoing impacts of the loss of market exclusivity for several products.
  • Growth in oncology was driven by a significant increase in sales of KEYTRUDA, reflecting the strong momentum for the treatment of patients with NSCLC and the company's continued launches with new indications globally.
  • Keytruda sales +55% to $2.27 bln; Januvia/Janumet -5% to 1.35 bln.
  • Co issues guidance for FY19, sees EPS of $4.67-4.79 from $4.57-4.72, excluding non-recurring items, vs. $4.68 S&P Capital IQ Consensus; sees FY19 revs of $43.9-45.1 bln from $43.2-44.7 bln vs. $44.5 bln S&P Capital IQ Consensus

>>> Pfizer beats by $0.10, reports revs in-line; raises FY19 EPS in-line, reaf

Pfizer beats by $0.10, reports revs in-line; raises FY19 EPS in-line, reaffirms FY19 revs guidance (39.59)
  • Reports Q1 (Mar) earnings of $0.85 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $0.75; revenues rose 1.6% year/year to $13.12 bln vs the $13.01 bln S&P Capital IQ Consensus.
  • Co issues guidance for FY19, raises EPS to $2.83-2.93 from $2.82-2.92, excluding non-recurring items, vs. $2.89 S&P Capital IQ Consensus; reaffirms FY19 revs of $52.0-54.0 bln vs. $53.43 bln S&P Capital IQ Consensus