Kinder Morgan reported Q1 2024 adjusted earnings per share of 34 cents, beating estimates, with increased contributions from its Natural Gas Pipelines, Products Pipelines, and Terminals business segments. The company also announced a 2% dividend hike. Despite missing revenue estimates, the company's strong quarterly performance was driven by reduced costs and expenses. Kinder Morgan projects a 15% increase in net income for 2024 and aims for 8% growth in distributable cash flow and adjusted EBITDA.
Dick's Sporting Goods (DKS) reported strong fourth-quarter earnings, with a 31% increase in EPS and an 8% rise in sales, leading to a 76% rally in its stock after announcing a 10% dividend hike. The company also provided 2024 guidance, expecting comparable-store sales growth of 1%-2% and earnings between $12.85-13.25 per share. The stock surged 14.2% in market action, continuing its upward trend in 2024, while other retail stocks like Abercrombie & Fitch and Costco experienced fluctuations in the market.
EBay's stock rose 3% in extended trading after reporting strong quarterly results and issuing positive guidance, including a dividend hike and a $2 billion stock repurchase program. The company's fourth-quarter net income rose to $728 million, with revenue climbing to $2.56 billion, surpassing analysts' estimates. Despite recent challenges, including layoffs and a "challenging" economy, analysts see eBay's performance as a sign of resilience in the e-commerce market amidst competition from Amazon and Walmart.
Renault's shares surged 7% after the carmaker announced plans to increase its dividend per share to 1.85 euros for the financial year. The company reported a full-year group operating margin of 7.9% and aims for double-digit margins by 2030. Despite slightly below-forecast net profit, Renault targets a group operating margin of at least 7.5% and free cash flow of 2.5 billion euros in 2024, focusing on upcoming vehicle launches, cost optimization, and accelerating its electric vehicle and software strategy. CEO Luca de Meo acknowledged the challenging market but expressed optimism due to upcoming product launches, including electric cars.
HP Inc. has announced a solid profit forecast and a dividend hike, leading to a rally in its stock. The company expects 2% to 4% long-term annual revenue growth and high single-digit percentage growth in earnings per share.
McDonald's Corporation has announced a 10% increase in its quarterly cash dividend, reaffirming its commitment to shareholders. The company's new annualized dividend amounts to $6.68 per share, reflecting its confidence in its growth strategy. McDonald's has consecutively raised its dividend for 47 years and remains focused on reinvesting in the business for sustainable growth. The company plans to open over 1,900 restaurants globally in 2023, contributing to systemwide sales growth. Despite inflation challenges, McDonald's continues to enhance shareholder returns and expand its global footprint.
FedEx has announced a 44 cents increase in its annual payout to shareholders, raising it to $5.04. The logistics giant's move has boosted investor confidence ahead of its upcoming investor event.
FedEx has announced a 44 cents increase in its annual payout to shareholders, raising it to $5.04. The logistics giant's move has boosted investor confidence ahead of its upcoming investor event.
