Chipotle (CMG)
The quick meals restaurant chain posted comparable gross sales for its newest quarter which grew 5.6% year-over-year, however missed analyst expectations of an increase of seven.04%. Chipotle reported fourth quarter adjusted earnings per share of $8.29 versus estimates of $8.91. Income of $2.18 billion barely missed expectations of $2.23 billion.
“We delivered sturdy progress in 2022, increasing common unit volumes and restaurant stage margin, whereas opening the very best variety of new eating places in six years, regardless of dealing with a difficult and fluid macro setting,” Brian Niccol, chairman and CEO of Chipotle stated within the firm’s earnings launch.
Chipotle’s board permitted a share buyback program of as much as $200 million.
Enphase Power (ENPH)
The power firm posted fourth quarter adjusted earnings per share of $1.51, beating analyst expectations of $1.24. Income of $724.65 million additionally got here in above Wall Road estimates of $706.51 million. Shares jumped 7% in after hours.
VF Corp (VFC)
The proprietor of NorthFace and Vans beat Wall Road expectations on the highest and backside strains. Earnings per share for the V.F. Corp’s newest quarter got here in at $1.12, beating expectations of 99 cents. The corporate posted third quarter gross sales of $3.53 billion versus estimates of $3.48 billion.
Benno Dorer, interim president and CEO stated within the firm’s earnings launch, “We’re shifting useful resource priorities throughout the Firm, together with by lowering the dividend, exploring the sale of non-core property, slicing prices and eliminating non-strategic spend, whereas enhancing the deal with the buyer via focused investments.”
Fortinet (FTNT)
The cybersecurity firm is up 13% in after hours on the heels of its newest quarterly outcomes. Fortinet’s income forecast vary for 2023 of $5.37 billion-$5.43 billion got here in above analyst estimates of $5.36 billion.
Ines is a senior enterprise reporter for Yahoo Finance. Observe her on Twitter at @ines_ferre
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