Earnings, U.S. inflation in focus

Written by on February 13, 2024


16 Mins Ago

Tui smashes earnings estimates on robust travel demand

A Boeing 787 ‘Dreamliner’ plane with the logo of tourism giant TUI at Hanover airport in Langenhagen, central Germany.

JULIAN STRATENSCHULTE | AFP | Getty Images

German travel giant TUI on Tuesday posted a quarterly operating profit of 6 million euros ($6.46 million) on the back of upbeat travel demand.

The swing to profit vastly outstripped an analyst consensus forecast for a 102 million euro loss, according to LSEG data. For the same quarter last year, Europe’s largest travel operator posted a 153 million euro net loss.

The group’s fiscal first-quarter revenue came in at a record 4.3 billion euros, up by 15% from the previous year, driven by higher demand at increased prices and rates.

“We are on track, we are gaining customers and we are growing. We are accelerating our transformation quarter by quarter. We have goals that we are consistently implementing,” TUI CEO Sebastian Ebel said in a statement.

“In a persistently challenging environment, people’s high willingness to travel ensures strong economic development in all areas of the Group.”

Tui expects to record growth in operating profit of at least 25% across the 2024 financial year and is targeting a compound annual growth rate of 7-10% over the medium term.

– Elliot Smith

44 Mins Ago

Here are the opening calls

Britain’s FTSE 100 is set to add around 8 points to 7,582, Germany’s DAX is expected to drop by around 41 points to 16,996 and France’s CAC 40 is seen around 10 points lower at 7,680, according to IG data.

8 Hours Ago

CNBC Pro: As the Year of the Dragon begins, the pros name sectors – and stocks – to play the Chinese market

A slump in foreign direct investments, plummeting inflation levels and a shake up in the stock market, has put pressure on the Chinese economy, causing several investors to turn cautious on the Asian powerhouse as it marks the start of the Year of the Dragon.

“I’m still positive and optimistic on China right now. However, I think that the cyclical upturn has been much slower than I expected. I don’t want to be binary and say China is collapsing – because it is not. I believe the strength of the economy has been a little weaker, but it is still recovering and still growing,” he told CNBC Pro.

Elsewhere, Morningstar’s analysts see that “China equities are relatively still cheap,” naming sectors – and stocks – they like right now.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

8 Hours Ago

CNBC Pro: Goldman names 3 ‘attractive’ value stocks that offer more than 50% upside

Goldman Sachs has identified three “attractive” value stocks that could see significant share price appreciation over the next 12 months.

The Wall Street bank said all three under-the-radar companies stand out amongst their peers for their cheap valuations compared to earnings growth prospects.

CNBC Pro subscribers can read more here.

— Ganesh Rao



Source link


Reader's opinions

Leave a Reply

Your email address will not be published. Required fields are marked *



Current track

Title

Artist