onurdongel/iStock via Getty Images Introduction Energy Transfer LP ( ET ) has been one of my most bullish takes for a long time now, ever since I bought units back in 2021. Since my last analysis , units have appreciated by only a slim margin of 1.49%, and with the upcoming earnings report, I want to dive into what I’m looking forward to the most. Q1 earnings preview The street is expecting an EPU...
onurdongel/iStock via Getty Images Introduction Energy Transfer LP ( ET ) has been one of my most bullish takes for a long time now, ever since I bought units back in 2021. Since my last analysis , units have appreciated by only a slim margin of 1.49%, and with the upcoming earnings report, I want to dive into what I’m looking forward to the most. Q1 earnings preview The street is expecting an EPU of 37 cents, which would only be a slight improvement on a Y/Y basis, though for MLPs, it is more important to look at Adj. EBITDA and distributable cash flow are the essential metrics driving the unit valuation. In the latest quarter , ET posted an EBITDA of $4.2B, up around $300MM from the year and a then record. I expect adjusted EBITDA to actually rise this quarter to possibly up to $4.4B, as Q1 is generally seasonally stronger for the partnership, and this is based on my following take per segment. I expect interstate and intrastate transportation to be solid, as Q1 is still heating season, and despite the relatively mild winter, natural gas demand was supported by LNG feedgas flows that approached record levels, thanks to the current dynamics in the Middle East affecting Qatari supplies , as they averaged close to 18.9 Bcf/d during the month. ET’s major infrastructure in the space, which spans roughly 32,000 miles, should have seen healthy utilization, and we already know from the latest quarterly earnings that several pipeline systems were benefiting from higher contracted rates. NGL, on the other hand, might be a wildcard, as in the latest quarter, EBITDA came out flat Y/Y at $1.1B, but that was absorbing a $58MM hedge settlement timing loss and would be recovered in 2026. If the losses reverse in Q1, that alone would be a slight tailwind. However, margins have remained under pressure as domestic supply has grown faster than export capacity. Though the Nederland Flexport expansion , which is actually ramping in 2026, is precisely the kind of project that will addre...
mustafaU/iStock via Getty Images Coca-Cola Company ( KO ) traded higher in early action on Tuesday after topping estimates with its first-quarter earnings report. Revenue was up 12.6% year-over-year to $12.5B for the quarter that ended on March 31. The revenue performance was driven by an 8% increase in concentrate sales and 2% growth in price/mix. Concentrate sales were 5 points ahead of unit cas...
mustafaU/iStock via Getty Images Coca-Cola Company ( KO ) traded higher in early action on Tuesday after topping estimates with its first-quarter earnings report. Revenue was up 12.6% year-over-year to $12.5B for the quarter that ended on March 31. The revenue performance was driven by an 8% increase in concentrate sales and 2% growth in price/mix. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments. Organic revenue rose 10% vs. the +7.1% consensus estimate. The organic revenue growth was led by gains in the North America (+12%) and Europe, Middle East & Africa (+11%) segments. Global unit case volume grew 3% during the quarter, with all segments positive. Price/mix grew 2% for Coca-Cola ( KO ) in Q1, primarily driven by pricing actions in the marketplace, partially offset by an unfavorable mix. Comparable currency-neutral operating income (non-GAAP) grew 12%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments. Comparable EPS was up 18% year-over-year to $0.86 vs. $0.81 consensus and included the impact of a 3-point currency headwind. On the guidance front, Coca-Cola ( KO ) still sees full-year organic sales growth of about 4% to 5% (midpoint 4.5%) vs. 4.8% consensus. EPS growth of 7% to 8% is anticipated. Shares of Coca-Cola ( KO ) moved 2.7% higher in premarket action, while PepsiCo ( PEP ) and Keurig Dr Pepper ( KDP ) also showed modest rises. The iShares U.S. Consumer Staples ETF ( IYK ) has the highest weighting of Coca-Cola ( KO ). More on Coca-Cola Coca-Cola: Buy For The Dividend, Hold For The Upside (Downgrade) Coca-Cola: The Retirement Dream Coca-Cola: Time To Play Defensive Coca-Cola Non-GAAP EPS of $0.86 beats by $0.05, revenue of $12.5B beats by $270M Coca-Cola Q1 earnings on deck: What to expect
Smithfield Foods, Inc. (SFD) delivered earnings and revenue surprises of +10.35% and +1.55%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Smithfield Foods, Inc. (SFD) delivered earnings and revenue surprises of +10.35% and +1.55%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Allegion (ALLE) delivered earnings and revenue surprises of -4.13% and +1.61%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Allegion (ALLE) delivered earnings and revenue surprises of -4.13% and +1.61%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Hilton Worldwide (HLT) delivered earnings and revenue surprises of +2.52% and -1.40%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Hilton Worldwide (HLT) delivered earnings and revenue surprises of +2.52% and -1.40%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Apple earnings should be strong as the company continues to roll out personal devices that are popular among consumers despite an ongoing memory supply crunch, according to UBS. The investment bank raised its price target on shares to $287 from $280, implying 7.2% from Monday's close. The move comes just two days before Apple reports fiscal second-quarter earnings. "Supply chain strength and susta...
Apple earnings should be strong as the company continues to roll out personal devices that are popular among consumers despite an ongoing memory supply crunch, according to UBS. The investment bank raised its price target on shares to $287 from $280, implying 7.2% from Monday's close. The move comes just two days before Apple reports fiscal second-quarter earnings. "Supply chain strength and sustained demand/share gains for the iPhone 17 series should lift iPhone rev up ~20% YoY," analyst David Vogt said Monday in a note to clients. AAPL 1M mountain AAPL 1-mo Vogt also raised its fiscal third-quarter revenue forecast for Apple by roughly 4% to $102 billion, suggesting 8.5% year-over-year growth. The analyst also expects "solid demand in the US and China leading to ~6% revenue growth or $47.4B vs our prior $43.5B [estimate]" for the June quarter. He added that the bank has also increased its forecast for iPhone units to 50.3 million from 46.5 million due to the smartphone manufacturer's memory driven share gains. Apple uses a type of electrical component for storage called random-access memory (RAM) to power its devices, including its recently launched iPhone 17 and MacBook Neo. Those high-power memory components have become harder to obtain as the proliferation of artificial intelligence drives up demand for the hardware. But, Apple is showing signs of working through the ongoing supply chain crunch, according to UBS. "Apple's ability to secure silicon and memory to meet iPhone demand has resulted in share gains," Vogt wrote. To be sure, Vogt kept his neutral rating on shares, suggesting he doesn't see much upside long term. "Risks to our Apple thesis include (1) product delays or less innovative offerings, particularly a decline in iPhone unit shipments; (2) macro weakness dampening product demand, especially in China," he wrote. Shares have risen nearly 8% over the past month.
Google has signed a classified deal that allows the US Department of Defense to use its AI models for "any lawful government purpose," The Information reports . The agreement was reported less than a day after Google employees demanded CEO Sundar Pichai block the Pentagon from using its AI amid concerns that it would be used in "inhumane or extremely harmful ways." If the agreement is confirmed, i...
Google has signed a classified deal that allows the US Department of Defense to use its AI models for "any lawful government purpose," The Information reports . The agreement was reported less than a day after Google employees demanded CEO Sundar Pichai block the Pentagon from using its AI amid concerns that it would be used in "inhumane or extremely harmful ways." If the agreement is confirmed, it would place Google alongside OpenAI and xAI, which have also made classified AI deals with the US government. Anthropic was also among that list until it was blacklisted by the Pentagon for refusing the Department of Defense's demands to remove we … Read the full story at The Verge.
Sherwin Williams press release ( SHW ): Q1 Non-GAAP EPS of $2.35 beats by $0.08 . Revenue of $5.67B (+6.8% Y/Y) beats by $110M . Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in the quarter increased 8.8% to $998.2 million, or 17.6% of Net sales. Reaffirming full year 2026 diluted net income per share guidance in the range of $10.70 to $11.10 per share, including Valspar ...
Sherwin Williams press release ( SHW ): Q1 Non-GAAP EPS of $2.35 beats by $0.08 . Revenue of $5.67B (+6.8% Y/Y) beats by $110M . Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in the quarter increased 8.8% to $998.2 million, or 17.6% of Net sales. Reaffirming full year 2026 diluted net income per share guidance in the range of $10.70 to $11.10 per share, including Valspar acquisition-related amortization expense of $0.80 per share Reaffirming full year 2026 adjusted diluted net income per share guidance in the range of $11.50 to $11.90 per share vs. $11.72 consensus (prior $11.50 and $11.90) More on Sherwin Williams Sherwin-Williams: Resilient Results In Soft Environment (Rating Upgrade) The Sherwin-Williams Company (SHW) Q4 2025 Earnings Call Transcript The Sherwin-Williams Company 2025 Q4 - Results - Earnings Call Presentation Sherwin Williams Q1 2026 Earnings Preview Sherwin-Williams, Axalta Coating cut at Wells Fargo as Iran war raises raw materials costs
Stock markets have been largely buoyant since the end of March after bouncing back from a sell-off sparked by the outbreak of the U.S.-Iran war, but one of the world's biggest investors is glad not to be buying individual names. Speaking to CNBC's Ben Boulos on the sidelines of the sovereign wealth fund's annual Investment Conference in Norway, Norges Bank Investment Management CEO Nicolai Tangen ...
Stock markets have been largely buoyant since the end of March after bouncing back from a sell-off sparked by the outbreak of the U.S.-Iran war, but one of the world's biggest investors is glad not to be buying individual names. Speaking to CNBC's Ben Boulos on the sidelines of the sovereign wealth fund's annual Investment Conference in Norway, Norges Bank Investment Management CEO Nicolai Tangen said global markets are "in a period where it's very good to be an index fund." NBIM manages Norway's $2 trillion sovereign wealth fund, the largest of its kind in the world. "What's happening with AI and technology and so on is deflationary and it's positive for the markets, but it's difficult to know exactly how you're going to navigate the market," Tangen said. "So in a way, I'd rather be invested in the whole market at this stage, rather than trying to pick individual stocks." Global stocks were volatile in the immediate aftermath of the U.S. and Israel's first strikes on Iran in late February, but have since shown resilience with many major indexes recouping losses incurred earlier on in the war. The Norwegian sovereign wealth fund's performance since the Iran war began is not publicly available information, but any returns would build on the near $250 billion profit NBIM made in 2025. Formally known as the Government Pension Fund Global, the wealth fund is given guidelines from the Norwegian government on where it can invest. It invests only in overseas assets, to stop the Norwegian economy from overheating and is measured against a benchmark index set by the Ministry of Finance. Given the geopolitical and macroeconomic backdrop, Tangen said the "clear mandate from the ministry is a very good thing to have" right now. But, he conceded, the fund will take a hit in the event of a market correction. "We are an index-near fund, and that means that you participate in the in the upturns and you participate in the downturns, and that's the way you have to be positioned as a ...