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Johnson Controls Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>) reported quarterly earnings of $0.78 per share which beat the analyst consensus estimate of $0.75 by 4 percent. The company reported quarterly sales of $6.70 billion which missed the analyst consensus estimate of $6.72 billion by 0.30 percent. This is a 0.21 percent increase over sales of $6.69 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Johnson Controls Intl Q2 2024 Adj EPS $0.78 Beats $0.75 Estimate, Sales $6.70B Miss $6.72B Estimate

Baird analyst Timothy Wojs maintains Fortune Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBIN#NYSE">FBIN</a>) with a Neutral and raises the price target from $85 to $86.

Price Target

Analyst Ratings

FBIN

Baird Maintains Neutral on Fortune Brands, Raises Price Target to $86

Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) reported quarterly earnings of $2.88 per share which beat the analyst consensus estimate of $2.79 by 3.23 percent. The company reported quarterly sales of $5.254 billion which beat the analyst consensus estimate of $5.225 billion by 0.55 percent. This is a 6.62 percent increase over sales of $4.928 billion the same period last year.

Automatic Data Processing Q3 2024 Adj EPS $2.88 Beats $2.79 Estimate, Sales $5.254B Beat $5.225B Estimate

Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) reported quarterly earnings of $2.59 per share which beat the analyst consensus estimate of $2.57 by 0.78 percent. This is a 7.92 percent increase over earnings of $2.40 per share from the same period last year. The company reported quarterly sales of $2.42 billion which beat the analyst consensus estimate of $2.17 billion by 11.52 percent. This is a 18.05 percent increase over sales of $2.05 billion the same period last year.

Global Payments Q1 Adj $2.59 Beats $2.57 Estimate, Sales $2.42B Beat $2.17B Estimate

Silgan Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLGN#NYSE">SLGN</a>) reported quarterly earnings of $0.69 per share which beat the analyst consensus estimate of $0.65 by 6.15 percent. The company reported quarterly sales of $1.317 billion which missed the analyst consensus estimate of $1.373 billion by 4.10 percent. This is a 7.12 percent decrease over sales of $1.418 billion the same period last year.

SLGN

Silgan Hldgs Q1 2024 Adj EPS $0.69 Beats $0.65 Estimate, Sales $1.317B Miss $1.373B Estimate

KKR &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.96 by 1.04 percent.

KKR & Co Q1 2024 Adj EPS $0.97 Beats $0.96 Estimate, Fee Related Earnings $0.75 Per Share

Full Year Fiscal 2024
Sales Outlook
<ul>
<li>Reported net sales are forecasted to decrease between 3% and 2% versus the prior-year period.
<ul>
<li>Currency exchange rates are volatile and difficult to predict. Using March 29, 2024 spot rates for the full year, the Company expects a 1% headwind due to foreign currency translation.</li>
</ul>
</li>
<li>Organic net sales are forecasted to decrease between 2% and 1%.</li>
</ul>
Earnings per Share Outlook
<ul>
<li>Reported diluted net earnings per common share are projected to be between $1.96 and $2.09. Excluding restructuring and other charges and adjustments, diluted net earnings per common share are projected to be between $2.14 and $2.24.
<ul>
<li>The combined impact from the increases in the Company&#39;s net interest expense and effective tax rate is expected to dilute net earnings per common share by $.48.</li>
<li>The Company expects to take charges associated with previously approved restructuring and other activities. For the Restructuring Program Component of the Profit Recovery Plan, the charges are estimated to be between approximately $45 million to $55 million, equal to $.10 to $.12 per diluted common share.</li>
<li>The potential risks of further business disruptions in Israel and other parts of the Middle East are expected to have a dilutive impact to net earnings per common share of $.06.</li>
</ul>
</li>
<li>Adjusted diluted net earnings per common share are expected to decrease between 36% and 33% on a constant currency basis.
<ul>
<li>Currency exchange rates are volatile and difficult to predict. Using March 29, 2024 spot rates for fiscal 2024, the foreign currency translation impact equates to about $.09 of dilution to earnings per common share.</li>
</ul>
</li>
</ul>

Guidance

Estée Lauder Companies FY24 Outlook: Adj. EPS $2.14 - $2.24 Vs. $2.25 Estimate, Revenue Growth (3%) - (2%)

OneSpaWorld Expects Q2 Total Revenues Of $216M-$221M, Est $215.746M

Piper Sandler analyst Thomas Champion maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Overweight and raises the price target from $205 to $220.

AMZN

Piper Sandler Maintains Overweight on Amazon.com, Raises Price Target to $220

OneSpaWorld Increases FY24 Revenues Guidance From $850M-$870M To $860M-$880M, Est $861.132M

Fourth Quarter Fiscal 2024
Sales Outlook
<ul>
<li>Reported net sales are forecasted to increase between 5% and 9% versus the prior-year period.
<ul>
<li>Currency exchange rates are volatile and difficult to predict. Using March 29, 2024 spot rates for the fourth quarter of fiscal 2024, the Company expects a 1% headwind due to foreign currency translation.</li>
</ul>
</li>
<li>Organic net sales are forecasted to increase between 6% and 10%.</li>
</ul>
Earnings per Share Outlook
<ul>
<li>Reported diluted net earnings per common share are projected to be between $.11 and $.22. Excluding restructuring and other charges and adjustments, diluted net earnings per common share are projected to be between $.18 and $.28.
<ul>
<li>The combined impact from the increases in the Company&#39;s net interest expense and effective tax rate is expected to dilute net earnings per common share by $.21.</li>
<li>The Company expects to take charges associated with previously approved restructuring and other activities. For the Restructuring Program Component of the Profit Recovery Plan, the charges are estimated to be between approximately $25 million to $30 million, equal to $.05 to $.06 per diluted common share.</li>
<li>The potential risks of further business disruptions in Israel and other parts of the Middle East are expected to have a dilutive impact to net earnings per common share of $.03.</li>
</ul>
</li>
<li>Adjusted diluted net earnings per common share are expected to increase over 100% and range between $.19 and $.29 on a constant currency basis.
<ul>
<li>Currency exchange rates are volatile and difficult to predict. Using March 29, 2024 spot rates for fiscal 2024, the foreign currency translation impact equates to about $.01 of dilution to earnings per common share.</li>
</ul>
</li>
</ul>

Estée Lauder Companies Q2 Outlook: Adj. EPS $0.18 - $0.28 Vs. $0.75 Estimate, Revenue growth +5% - 9%

Tesla Inc. CEO and xAI founder <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk</a> is thrilled and concerned at the same about the extensive AI investment possibilities.
What Happened: Responding to Massachusetts Institute of Technology (MIT) engineer and Executive Chairman of Singularity University, Peter Diamandis, Musk expressed his mixed feelings about the future of AI investment.
Diamandis said we are currently at a &#8220;fraction of 1% in AI investment" and speculated about the potential advancements in the next decade.
See Also: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
Musk, while agreeing with Diamandis, had mixed feelings about it.
"Exciting, but also worrying."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Exciting, but also worrying
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1785551002688442388?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This comes at a time when Musk said <a href="https://www.benzinga.com/markets/equities/24/04/38405187/elon-musk-echoes-cathie-wood-wants-tesla-to-be-seen-as-an-ai-or-robotics-company-if-you-value-te">Tesla needs to be looked at</a> as an "AI or robotics company." This was after Ark Invest's Cathie Wood called Tesla the <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38076756/cathie-wood-says-tesla-is-biggest-ai-project-in-world-sees-convergence-of-3-key-technolo">"biggest AI project" in the world</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Musk&#8217;s post comes at a time when the AI industry is experiencing significant growth.
Leaders in the tech industry, such as OpenAI CEO Sam Altman and Nvidia Corp. CEO Jensen Huang, have been vocal about the potential of AI and the need for substantial investments to drive its development.
Altman has emphasized the significance of computing power, suggesting that &#8220;compute&#8221; will be the &#8220;currency of the future&#8221; instead of fiat or cryptocurrency king Bitcoin. He sees a <a href="https://www.benzinga.com/news/24/03/37841813/compute-not-fiat-or-bitcoin-will-be-the-currency-of-the-future-says-sam-altman-as-nvidias-jensen-hua">$100 trillion opportunity in AI</a>.
Echoing similar sentiments as Diamandis, Huang predicted that the current "AI computing ramp" is <a href="https://www.benzinga.com/news/24/03/37838508/nvidias-jensen-huang-foresees-ai-computing-ramp-to-continue-for-years-were-in-the-beginning">just the beginning</a> and is expected to continue for several years.
He suggested that the AI computing industry is still in its early stages and is likely to see significant growth in the coming years, particularly in sectors like healthcare.
Altman, in a bid to revolutionize the global production of artificial intelligence chips, is reportedly seeking approval from the Joe Biden-led administration for his <a href="https://www.benzinga.com/news/24/02/37191289/sam-altman-seeks-bidens-help-for-openais-7-trillion-ai-chipmaking-dream-report">$7 trillion chipmaking dreams</a>. The project's advancement hinges on approval from the U.S. government.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38521828/jensen-huangs-initial-nvidia-pitch-dubbed-one-of-the-worst-by-former-boss-yet-backed-by-belief-in-go">Jensen Huang&#8217;s Initial Nvidia Pitch Dubbed &#8216;One Of The Worst&#8217; By Former Boss, Yet Backed By Belief In &#8216;Godfather Of GPU&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image generated using Midjourney

Tech

Elon Musk Reacts As MIT Engineer Says We're At 'Fraction Of 1% In AI Investment. Imagine What's About To Come In Next Decade:' 'Exciting, But Also Worrying'

Pfizer Sees FY24 Revenues $58.5B-$61.5B Vs $62.92B Estimate

Life Time Group Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) reported quarterly earnings of $0.15 per share which beat the analyst consensus estimate of $0.13 by 15.38 percent. This is a 36.36 percent increase over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $596.717 million which beat the analyst consensus estimate of $588.547 million by 1.39 percent. This is a 16.81 percent increase over sales of $510.851 million the same period last year.

Life Time Group Hldgs Q1 2024 Adj EPS $0.15 Beats $0.13 Estimate, Sales $596.717M Beat $588.547M Estimate

Evercore ISI Group analyst Mark Mahaney maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Outperform and raises the price target from $220 to $225.

Evercore ISI Group Maintains Outperform on Amazon.com, Raises Price Target to $225

Pfizer Sees FY24 Adj. EPS $2.15-$2.35 Vs $2.76 Estimate

OneSpaWorld Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSW#NASDAQ">OSW</a>) reported quarterly Adj earnings of $0.19 per share which beat the analyst consensus estimate of $0.17 by 11.76 percent. The company reported quarterly sales of $211.226 million which beat the analyst consensus estimate of $207.724 million by 1.69 percent. This is a 15.77 percent increase over sales of $182.455 million the same period last year.

OneSpaWorld Holdings Q1 2024 Adj EPS $0.19 Beats $0.17 Estimate, Sales $211.226M Beat $207.724M Estimate

Stantec Acquired Hydrock, A 950-person Integrated Engineering Design Firm For An Undisclosed Amount

Estee Lauder Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.49 by 97.96 percent. This is a 70.18 percent increase over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $3.940 billion which beat the analyst consensus estimate of $3.913 billion by 0.70 percent. This is a 5.04 percent increase over sales of $3.751 billion the same period last year.

Estee Lauder Cos Q3 2024 Adj EPS $0.97 Beats $0.49 Estimate, Sales $3.940B Beat $3.913B Estimate

Independence Contract (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICD#NYSE">ICD</a>) reported quarterly losses of $(0.50) per share which missed the analyst consensus estimate of $(0.48) by 4.17 percent. This is a 457.14 percent decrease over earnings of $0.14 per share from the same period last year. The company reported quarterly sales of $46.636 million which beat the analyst consensus estimate of $41.636 million by 12.01 percent. This is a 26.85 percent decrease over sales of $63.756 million the same period last year.

Independence Contract Q1 2024 Adj EPS $(0.50) Misses $(0.48) Estimate, Sales $46.636M Beat $41.636M Estimate

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Latest News for ProShares Trust S&P 500 Bd ETF (ARCA:SPXB)

Friday, May 04, 2018