Q: Seems like a good earnings report today. They seem to be firing on all cylinders right now. Your comments please and thank you.
5i Research Answer:
EPS of 73c beat estimates of 53c. Revenue of $1.54B missed estimates of $2.09B. But EBITDA of $1.044B was 4.5% better than estimates. The dividend was raised 3.4%. EBITDA rose 10% year over year. The revenue miss reflected a 49% decline in marketing and new ventures revenue. 2024 EBITDA guidance was raised to $4.05B+ from $3.725B+. It was a solid quarter and of course investors will like the dividend bump. With a 23% one-year gain, it is now 16X earnings but things are looking solid here for sure.