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Four takeaways from the latest US earnings season: Part 2

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[ADVISOR VIEW] Companies that are more directly tied to the consumer so that we can get a sense of what consumers spend their money on: Abrie Grobler - PSGPretoriaOos. Moneyweb USEarnings

This article continues to delve into insights from the latest US earnings season. In this article, we look at the companies that are more directly tied to the consumer so that we can get a sense of what consumers are spending their money on.Delta Airlines delivered record March quarter revenue increasing 16% year-over-year. Delta’s president, Glen Hauenstein, attributed the soaring revenue growth to “the strength seen in the underlying demand.

Travel spend is not limited to airlines and accommodation. First-quarter sales data from luxury goods companies also came out strong. LVMH, the parent company of luxury leather handbag brand Louis Vuitton, reported a 17% increase in organic revenue. The company reported double-digit organic revenue growth in every segment except for wines and spirits.

Still, the US consumer is on the hunt for bargains. When asked about the state of the consumer, Walmart CFO, John David Rainey, mentioned that they are seeing that consumers are buying less discretionary items and waiting for promotions when purchasing big ticket items such as TVs.

 

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Four takeaways from the latest US earnings season: Part 1[ADVISOR VIEW] The US earnings season kicked off in April, with over 3 500 companies reporting earnings for the first quarter of 2023. abrie_grobler of PSGPretoriaOos shares some of the main takeaways from the earnings season. Finance Investing
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