In extended trading, several companies made headlines with their first-quarter earnings reports. CSX, a rail transport and real estate company, saw its stock tick up about 1% after beating Wall Street estimates on both the top and bottom lines. The company posted earnings of 46 cents per share on revenue of $3.68 billion, exceeding analysts’ expectations of 45 cents per share and revenue of $3.67 billion. CSX also reaffirmed its full-year guidance for revenue growth and volume in 2024.
Las Vegas Sands, a casino operator, saw its shares dip 2% after narrowly beating revenue expectations for the first quarter. The company reported adjusted earnings of 75 cents per share on revenue of $2.96 billion, slightly surpassing analysts’ projections of 62 cents per share on revenue of $2.94 billion. Despite the positive revenue performance, the stock saw a slight decline in extended trading.
Alcoa, an aluminum producer, saw its shares climb 2.7% after reporting first-quarter revenue that exceeded analysts’ forecasts. The company reported $2.6 billion in revenue, surpassing analysts’ expectations of $2.56 billion. However, Alcoa did post a wider-than-anticipated loss of 81 cents per share, compared to analysts’ estimates for a loss of 55 cents per share. Despite the loss, investors reacted positively to the revenue beat.
Equifax, a consumer credit reporting firm, saw its stock slip 7% after its second-quarter guidance fell short of Wall Street estimates. The company expects earnings per share of $1.65 to $1.75 in the second quarter, below analysts’ expectations of $1.87 per share. Equifax’s revenue guidance for the second quarter also came in below expectations. The disappointing guidance led to a decline in the company’s stock in extended trading.
Overall, the companies that made headlines in extended trading had mixed results in their first-quarter earnings reports. While CSX and Alcoa exceeded revenue expectations, Equifax fell short of guidance, leading to a decline in its stock. Las Vegas Sands narrowly beat revenue expectations but still saw a slight dip in its shares. Investors reacted differently to the reports, with some stocks ticking up and others slipping in extended trading. It will be interesting to see how these companies continue to perform in the coming quarters.
