Netflix Inc  (NASDAQ: NFLX) Q3 2020 earnings call dated Oct. 20, 2020

October 20, 2020

Video streaming giant Netfllix Inc. (NASDAQ: NFLX) reported a 23% growth in third-quarter revenues as it continued to expand the subscriber base. Earnings increased but missed Wall Street’s prediction and the company’s stock dropped on Tuesday evening following the announcement.

Spencer Wang — Vice President of Finance, Corporate Development and Investor Relations

Spencer Neumann — Chief Financial Officer

Reed Hastings — Founder and Co-Chief Executive Officer

Greg Peters — Chief Operating Officer and Chief Product Officer

Ted Sarandos — Co-Chief Executive Officer and Chief Content Officer

Kannan Venkateshwar — Barclays Bank PLC — Analyst

Lockheed Martin Corp. (NYSE: LMT) Q3 2020 earnings call dated Oct. 20, 2020

Transcript: Click here

Infographic: Click here

Aerospace company Lockheed Martin (NYSE: LMT) Tuesday said its sales increased 9% in the third quarter, driving up net profit. The top-line also came in above the market’s prediction. The stock made modest gains soon after the announcement. In a sign that the virus-related disruption did not affect orders materially, net sales rose 8.6% from last year to $16.5 billion in the September-quarter. It is above the consensus estimate. In the most recent quarter, earnings rose to $1.7 billion or $6.05 per share from $1.6 billion or $5.66 per share in the third quarter of 2019. The bottom-line was slightly below the Street view.

Greg Gardner — Vice President of Investor Relations

James D. Taiclet — Chairman, President and Chief Executive Officer

Kenneth R. Possenriede — Chief Financial Officer

Sheila Kahyaoglu — Jefferies — Analyst

Myles Walton — UBS — Analyst

Richard Safran — Seaport Global Securities — Analyst

Noah Poponak — Goldman Sachs — Analyst

Ron Epstein — Bank of America Merrill Lynch — Analyst

Cai von Rumohr — Cowen & Company — Analyst

Doug Harned — Bernstein — Analyst

Jon Raviv — Citi Investment Research — Analyst

Seth Seifman — JPMorgan — Analyst

Snap Inc.  (NYSE: SNAP) Q3 2020 earnings call dated Oct. 20, 2020

Revenues increased 52% year-over-year to $679 million. Net loss amounted to $200 million, or $0.14 per share, compared to $227 million, or $0.16 per share, last year. The company reported adjusted EPS of $0.01 versus a loss of $0.04 last year. Daily active users rose by 18% year-over-year to 249 million. Due to the uncertainty related to the COVID-19 pandemic, the company is not providing any guidance

Betsy Miller Frank — Head of Investor Relations

Evan Spiegel — Chief Executive Officer

Jeremi Gorman — Chief Business Officer

Derek Andersen — Chief Financial Officer

Ross Sandler — Barclays — Analyst

Doug Anmuth — JPMorgan — Analyst

Michael Levine — Pivotal Research Group — Analyst

Heath Terry — Goldman Sachs — Analyst

Rich Greenfield — LightShed Partners — Analyst

Justin Post — Bank of America Merrill Lynch — Analyst

Eric Sheridan — UBS — Analyst

Brian Nowak — Morgan Stanley — Analyst

Mark Shmulik — Bernstein — Analyst

Procter & Gamble Co  (NYSE: PG) Q1 2021 earnings call dated Oct. 20, 2020

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Click here for Earnings Infographic

Jon R. Moeller — Vice Chairman, Chief Operating Officer and Chief Financial Officer

Zions Bancorporation  (NASDAQ: ZION) Q3 2020 earnings call dated Oct. 19, 2020.

Zions Bancorporation’s Third Quarter 2020 Earnings Results Webcast. Transcript link: 

CEO: "we are generally pleased with the overall results for the quarter. Earnings per share are back to a level experienced throughout much of 2019. Although, revenue has declined somewhat from what experienced then. Our non-interest expenses declined moderately, resulting in adjusted pre-provision net revenue, excluding the charitable contribution we made during the quarter of pre-provision net revenue of $297 million, which is actually somewhat stronger than the quarterly average in 2019. Additionally with the diluted shares have declined by about 17% from the levels in early 2019, which is the result of share repurchases prior to the pandemic and the expiration of warrants earlier this year."

James R. Abbott — Senior Vice President, Investor Relations and External Communications

Harris H. Simmons — Chairman and Chief Executive Officer

Scott J. McLean — President and Chief Operating Officer

Keith D. Maio — Executive Vice President, Chief Risk Officer

Michael Morris — Executive Vice President, Chief Credit Officer

Paul E. Burdiss — Chief Financial Officer

Dave Rochester — Compass Point — Analyst

Ken Zerbe — Morgan Stanley — Analyst

John Pancari — Evercore ISI — Analyst

Steve Moss — B. Riley Securities — Analyst

Ken Usdin — Jefferies — Analyst

Steven Alexopoulos — JPMorgan — Analyst

Brock Vandervliet — UBS — Analyst

Jennifer Demba — SunTrust Securities — Analyst

Erika Najarian — Bank of America — Analyst

International Business Machines Corporation (NYSE: IBM) Q3 2020 earnings call dated Oct. 19, 2020

Tech giant IBM Corp. (NYSE: IBM) on Monday said its third-quarter revenues and profit declined, hurt mainly by the disruption caused by the pandemic. The top-line, however, surpassed experts’ prediction, while earnings matched. Consequently, adjusted earnings declined to $2.58 per share in the September-quarter from $2.68 per share in the same period of fiscal 2019. Net profit was $1.70 billion or $1.89 per share, up from last year’s income of $1.67 billion or $1.87 per share. The outcome was in line with analysts’ forecast.

Infograph: https://news.alphastreet.com/earnings-ibm-corp-nyse-ibm-reports-q3-2020-financial-results/

Transcript: https://news.alphastreet.com/international-business-machines-corporation-ibm-q3-2020-earnings-call-transcript/

Patricia Murphy — Vice President of Investor Relations

Arvind Krishna — Chief Executive Officer

James J. Kavanaugh — Chief Financial Officer and Senior Vice President, Finance and Operations

Matt Cabral — Credit Suisse — Analyst

Tien-Tsin Huang — JPMorgan — Analyst

Toni Sacconaghi — Bernstein — Analyst

Wamsi Mohan — Bank of America — Analyst

Katy Huberty — Morgan Stanley — Analyst

Halliburton Company (NYSE: HAL) Q3 2020 earnings call dated Oct. 19, 2020

Transcript Link: https://news.alphastreet.com/halliburton-company-hal-q3-2020-earnings-call-transcript/

Total revenue fell 47% year-over-year to $2.9 billion.

GAAP net loss attributable to the company was $17 million, or $0.02 per share, compared to earnings of $295 million, or $0.34 per share, last year. Adjusted net income was $100 million or $0.11 per share.

Kansas City Southern (NYSE: KSU) Q3 2020 earnings call dated Oct. 16, 2020

Ashley Thorne — Vice President, Investor Relations

Patrick J. Ottensmeyer — President and Chief Executive Officer

Jeffrey M. Songer — Executive Vice President and Chief Operating Officer

Sameh Fahmy — Executive Vice President, Precision Scheduled Railroading

Michael J. Naatz — Executive Vice President and Chief Marketing Officer

Michael W. Upchurch — Executive Vice President and Chief Financial Officer

Allison Landry — Credit Suisse — Analyst

Chris Wetherbee — Citigroup — Analyst

Jonathan Chappell — Evercore ISI — Analyst

Justin Long — Stephens — Analyst

Amit Mehrotra — Deutsche Bank — Analyst

Ravi Shanker — Morgan Stanley — Analyst

Tom Wadewitz — UBS — Analyst

Jason Seidl — Cowen — Analyst

Scott Group — Wolfe Research — Analyst

Allison Poliniak — Wells Fargo — Analyst

Ken Hoexter — Bank of America — Analyst

Schlumberger Limited  ( NYSE: SLB) Q3 2020 earnings call dated Oct. 16, 2020

Transcript: https://news.alphastreet.com/schlumberger-limited-slb-q3-2020-earnings-call-transcript/

Ndubuisi Maduemezia — Vice President, Investor Relations

Olivier Le Peuch — Chief Executive Officer

Stephane Biguet — Executive Vice President and Chief Financial Officer

Aphria Inc.  (NYSE: APHA) Q1 2021 earnings call dated Oct. 15, 2020

Transcript: https://news.alphastreet.com/aphria-inc-apha-q1-2021-earnings-call-transcript/

Tamara Macgregor — Chief Corporate Affairs Officer

Irwin D. Simon — Chief Executive Officer

Carl Merton — Chief Financial Officer

W. Andrew Carter — Stifel Financial Group — Analyst

Aaron Grey — Alliance Global Partners — Analyst

Pablo Zuanic — Cantor Fitzgerald — Analyst

Tamy Chen — BMO Capital Markets — Analyst

John Zamparo — CIBC Capital Markets — Analyst

Graeme Kreindler — VIII Capital — Analyst