All articles tagged with #sales miss
Merck's stock declined after its key products, Keytruda and Winrevair, fell short of sales estimates, despite overall revenue beating expectations. The company is preparing for biosimilar competition for Keytruda starting in 2028 and has made significant acquisitions to offset potential revenue declines. Merck has also updated its full-year outlook, expecting slight increases in sales and earnings for 2025.
Philip Morris International's stock dropped over 7% after missing quarterly sales estimates, despite a 7.1% revenue increase and an upward revision of its full-year earnings outlook, as cigarette shipment volumes declined and demand for traditional cigarettes continued to fall, though sales of smoke-free products grew significantly.
Tesla's first-quarter vehicle deliveries fell short of expectations, with just 386,810 vehicles delivered, marking the biggest miss in seven years. The company cited various challenges including production disruptions, shipping delays, and a suspected arson attack at its plant in Germany. Despite these setbacks, Tesla managed to reclaim its position as the world's top seller of electric vehicles, surpassing China's BYD Co. However, concerns about softening demand and high interest rates impacting sales linger, leading to a 4.9% drop in Tesla's shares and a 33% decline in 2024.
Lucid's stock dropped over 8% after the luxury electric vehicle maker reported Q3 results that missed expectations and cut its production forecast due to slowing demand. The company now expects to produce 8,000 to 8,500 vehicles, down from its previous guidance of over 10,000. Lucid's Q3 revenue was $137.8 million, lower than the expected $177 million, but its adjusted loss per share and adjusted EBITDA loss were better than consensus estimates. The company has been implementing price cuts to boost demand, and it announced the upcoming debut of its Gravity SUV at the LA Auto Show. However, an analyst warned of "major issues" due to weak demand and falling price realizations.
Taiwan Semiconductor Manufacturing's sales miss in March, falling short of its guidance range and Wall Street consensus, is not only a red flag for the company but also spells trouble for the entire chip industry. The revenue miss is a cause for concern for chip stocks.