10 out of 14 S&P 500 consumer discretionary stocks post earnings beat – Earnings Scorecard

A total of 14 out of 52 S&P 500 consumer discretionary companies reported quarterly results this week. The Consumer Discretionary Select Sector SPDR Fund ETF (NYSEARCA:XLY) is 4.48% down QTD, while SPY is 3.58% lower.

Ten of the 14 reporting companies posted an earnings beat, while three reported a miss. Half of the reporting companies exceeded revenue consensus, while six trailed expectations. One company reported in-line EPS and revenue.

Among the latest quarterly reports from industry giants:
– Tesla (TSLA) reported lower revenue due to reduced vehicle average selling price but rallied by ~12% after pointing to its upcoming affordable models and autonomous upside.
– General Motors (GM) saw higher shares in premarket trading after Q1 results beat expectations and the company raised its FY24 profit guidance.
– Ford Motor (F) surpassed estimates as the strength of the company’s commercial division offset losses for electric vehicles, rising 3% higher in after-hours trade.
– Chipotle Mexican Grill (CMG) gained in after-hours trading after margin rates improved in Q1.
– Royal Caribbean Cruises (RCL) sailed higher in early trading after setting favorable guidance due to robust demand trends.

QTD, 18 out of the 52 consumer discretionary companies have reported earnings so far. Three Automobiles, three Distributors, four companies in the Hotels, Restaurants & Leisure subsector, four companies in the Household Durables subsector, one Leisure Equipment & Products company and three Specialty Retail companies have posted their quarterly results.

Roughly 72% of the S&P 500 consumer discretionary companies have exceeded consensus EPS estimates, while 50% have reported revenue beat.

For the upcoming week, five notable consumer discretionary tickers scheduled to report results are Amazon.com (AMZN), Starbucks (SBUX), McDonald’s (MCD), DraftKings (DKNG) and Etsy (ETSY), among others.