Havier的个人主页 - 老虎社区

Havier

Havier

暂无个人介绍

IP属地：未知

41关注

1粉丝

0主题

0勋章

2021-07-28

Like back pls

Apple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote>

2021-07-26

👍

Tesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>

2021-07-23

Nice

Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>

2021-07-23

👍

Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3576066254911822","uuid":"3576066254911822","gmtCreate":1613954624352,"gmtModify":1627012171594,"name":"Havier","pinyin":"havier","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":41,"tweetSize":4,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.07.09","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":803421041,"gmtCreate":1627458571683,"gmtModify":1633764806428,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"Like back pls","listText":"Like back pls","text":"Like back pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803421041","repostId":"1195067283","repostType":4,"repost":{"id":"1195067283","kind":"news","pubTimestamp":1627459353,"share":"https://www.laohu8.com/m/news/1195067283?lang=zh_CN&edition=full","pubTime":"2021-07-28 16:02","market":"us","language":"en","title":"Apple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195067283","media":"MarketWatch","summary":"CFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales. Apple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS. Apple reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing ha","content":"<p>Apple&nbsp;shares&nbsp;fell&nbsp;1.5%&nbsp;in premarket trading.</p><p><blockquote>苹果股价在盘前交易中下跌1。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/46b6dcdfd6c3341849a132b84908df8a\" tg-width=\"881\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> CFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales</p><p><blockquote>首席财务官表示，尽管盈利和iPhone销量大幅增长，但整体和热门服务业的销售增长将放缓，导致盘后交易中股价走低</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df758af59b72a37be435c6d3859ce151\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Apple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS</span></p><p><blockquote><p class=\"t-img-caption\"><span>苹果上季度iPhone销售额接近400亿美元。彭博新闻社</span></p></blockquote></p><p> Apple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.</p><p><blockquote>苹果公司周二对增长放缓的预测给该公司第三财季的巨大业绩蒙上了阴影，这削弱了其创纪录的业绩，并导致股价下跌。</blockquote></p><p> Apple&nbsp;reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.</p><p><blockquote>苹果周二公布了有史以来最强劲的6月份季度业绩，利润几乎翻了一番，并大幅超越iPhone——iPhone收入超出华尔街预期高达50亿美元。但当苹果首席财务官卢卡·马埃斯特里(Luca Maestri)在电话会议上表示，由于汇率、半导体短缺以及与上一年的比较更加严格，该公司本季度的收入增长将放缓时，庆祝活动戛然而止。</blockquote></p><p> “We expect very strong double-digit year-over-year revenue growth during the September quarter,” Maestri said, while continuing to avoid exact revenue guidance due to uncertainty related to the COVID-19 pandemic. “We expect revenue growth to be lower than our June quarter year-over-year growth of 36%.”</p><p><blockquote>Maestri表示：“我们预计9月份季度的收入将实现非常强劲的两位数同比增长。”同时，由于与COVID-19大流行相关的不确定性，他继续避免提供确切的收入指引。“我们预计收入增长将低于6月份季度36%的同比增长。”</blockquote></p><p> Apple’s shares had gained in after-hours trading to that point, but immediately fell back and ultimately ended the extended trading session with a 2% decline.</p><p><blockquote>当时，苹果股价在盘后交易中上涨，但立即回落，最终以2%的跌幅结束延长交易时段。</blockquote></p><p> Beyond overall revenue, Maestri also warned about one of Apple’s hottest businesses and declined to give any hints about prolonged declines in sales growth.</p><p><blockquote>除了整体收入之外，Maestri还对苹果最热门的业务之一发出警告，并拒绝就销售增长长期下降给出任何暗示。</blockquote></p><p> “We expect our services growth rate to return to a more typical level,” Maestri said, referring to Apple’s services business, which reached record-high revenue in the quarter by growing 33% to $17.5 billion.</p><p><blockquote>Maestri表示：“我们预计我们的服务增长率将恢复到更典型的水平。”他指的是苹果的服务业务，该业务本季度收入增长33%，达到175亿美元，创历史新高。</blockquote></p><p> That growth rate also benefited from a favorable comparison as certain services were significantly impacted by the very beginning of the COVID-19 lockdowns a year ago, he added.</p><p><blockquote>他补充说，这一增长率还受益于有利的比较，因为某些服务在一年前就受到了COVID-19封锁的重大影响。</blockquote></p><p> “We expect significant growth in services, but not to the level that we’ve seen in June,” he said in response to a question about the company’s guidance.</p><p><blockquote>“我们预计服务业将大幅增长，但不会达到6月份的水平，”他在回答有关公司指引的问题时表示。</blockquote></p><p> When asked about the upcoming holiday period, and whether the semiconductor and component shortage would have an impact on what is typically Apple’s biggest quarter, Maestri said he only wanted to talk about one quarter at a time. Some analysts have already been wondering if the second half of this year is going to be as strong as the first half among tech companies, especially the tech giants, and Apple’s June quarter seemed to be reflective of those fears.</p><p><blockquote>当被问及即将到来的假期，以及半导体和零部件短缺是否会对苹果通常最大的季度产生影响时，马埃斯特里表示，他只想一次谈论一个季度。一些分析师已经在想，科技公司，尤其是科技巨头，今年下半年是否会像上半年一样强劲，而苹果6月份的季度似乎反映了这些担忧。</blockquote></p><p> While it seems ridiculous to see shares decline after reporting such a mind-blowing quarter — iPhone total revenue alone was nearly $40 billion and Chief Executive Tim Cook said that 5G penetration is still “very very low, and so we feel really good about the future of the iPhone” — concerns that we are at a peak for tech are valid. And as the delta variant continues to create uncertainty about the path of the COVID-19 pandemic, there is even more uncertainty ahead</p><p><blockquote>虽然在报告了如此令人兴奋的季度后看到股价下跌似乎很荒谬——仅iPhone的总收入就接近400亿美元，首席执行官蒂姆·库克(Tim Cook)表示，5G渗透率仍然“非常非常低，因此我们对iPhone的未来感觉非常好”——对我们正处于科技巅峰的担忧是有道理的。随着德尔塔变异毒株继续给COVID-19大流行的路径带来不确定性，未来的不确定性更大</blockquote></p><p> As Cook phrased it Tuesday, “the road to recovery will be a winding one.”</p><p><blockquote>正如库克周二所说，“复苏之路将是曲折的。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-28 16:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple&nbsp;shares&nbsp;fell&nbsp;1.5%&nbsp;in premarket trading.</p><p><blockquote>苹果股价在盘前交易中下跌1。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/46b6dcdfd6c3341849a132b84908df8a\" tg-width=\"881\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> CFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales</p><p><blockquote>首席财务官表示，尽管盈利和iPhone销量大幅增长，但整体和热门服务业的销售增长将放缓，导致盘后交易中股价走低</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df758af59b72a37be435c6d3859ce151\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Apple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS</span></p><p><blockquote><p class=\"t-img-caption\"><span>苹果上季度iPhone销售额接近400亿美元。彭博新闻社</span></p></blockquote></p><p> Apple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.</p><p><blockquote>苹果公司周二对增长放缓的预测给该公司第三财季的巨大业绩蒙上了阴影，这削弱了其创纪录的业绩，并导致股价下跌。</blockquote></p><p> Apple&nbsp;reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.</p><p><blockquote>苹果周二公布了有史以来最强劲的6月份季度业绩，利润几乎翻了一番，并大幅超越iPhone——iPhone收入超出华尔街预期高达50亿美元。但当苹果首席财务官卢卡·马埃斯特里(Luca Maestri)在电话会议上表示，由于汇率、半导体短缺以及与上一年的比较更加严格，该公司本季度的收入增长将放缓时，庆祝活动戛然而止。</blockquote></p><p> “We expect very strong double-digit year-over-year revenue growth during the September quarter,” Maestri said, while continuing to avoid exact revenue guidance due to uncertainty related to the COVID-19 pandemic. “We expect revenue growth to be lower than our June quarter year-over-year growth of 36%.”</p><p><blockquote>Maestri表示：“我们预计9月份季度的收入将实现非常强劲的两位数同比增长。”同时，由于与COVID-19大流行相关的不确定性，他继续避免提供确切的收入指引。“我们预计收入增长将低于6月份季度36%的同比增长。”</blockquote></p><p> Apple’s shares had gained in after-hours trading to that point, but immediately fell back and ultimately ended the extended trading session with a 2% decline.</p><p><blockquote>当时，苹果股价在盘后交易中上涨，但立即回落，最终以2%的跌幅结束延长交易时段。</blockquote></p><p> Beyond overall revenue, Maestri also warned about one of Apple’s hottest businesses and declined to give any hints about prolonged declines in sales growth.</p><p><blockquote>除了整体收入之外，Maestri还对苹果最热门的业务之一发出警告，并拒绝就销售增长长期下降给出任何暗示。</blockquote></p><p> “We expect our services growth rate to return to a more typical level,” Maestri said, referring to Apple’s services business, which reached record-high revenue in the quarter by growing 33% to $17.5 billion.</p><p><blockquote>Maestri表示：“我们预计我们的服务增长率将恢复到更典型的水平。”他指的是苹果的服务业务，该业务本季度收入增长33%，达到175亿美元，创历史新高。</blockquote></p><p> That growth rate also benefited from a favorable comparison as certain services were significantly impacted by the very beginning of the COVID-19 lockdowns a year ago, he added.</p><p><blockquote>他补充说，这一增长率还受益于有利的比较，因为某些服务在一年前就受到了COVID-19封锁的重大影响。</blockquote></p><p> “We expect significant growth in services, but not to the level that we’ve seen in June,” he said in response to a question about the company’s guidance.</p><p><blockquote>“我们预计服务业将大幅增长，但不会达到6月份的水平，”他在回答有关公司指引的问题时表示。</blockquote></p><p> When asked about the upcoming holiday period, and whether the semiconductor and component shortage would have an impact on what is typically Apple’s biggest quarter, Maestri said he only wanted to talk about one quarter at a time. Some analysts have already been wondering if the second half of this year is going to be as strong as the first half among tech companies, especially the tech giants, and Apple’s June quarter seemed to be reflective of those fears.</p><p><blockquote>当被问及即将到来的假期，以及半导体和零部件短缺是否会对苹果通常最大的季度产生影响时，马埃斯特里表示，他只想一次谈论一个季度。一些分析师已经在想，科技公司，尤其是科技巨头，今年下半年是否会像上半年一样强劲，而苹果6月份的季度似乎反映了这些担忧。</blockquote></p><p> While it seems ridiculous to see shares decline after reporting such a mind-blowing quarter — iPhone total revenue alone was nearly $40 billion and Chief Executive Tim Cook said that 5G penetration is still “very very low, and so we feel really good about the future of the iPhone” — concerns that we are at a peak for tech are valid. And as the delta variant continues to create uncertainty about the path of the COVID-19 pandemic, there is even more uncertainty ahead</p><p><blockquote>虽然在报告了如此令人兴奋的季度后看到股价下跌似乎很荒谬——仅iPhone的总收入就接近400亿美元，首席执行官蒂姆·库克(Tim Cook)表示，5G渗透率仍然“非常非常低，因此我们对iPhone的未来感觉非常好”——对我们正处于科技巅峰的担忧是有道理的。随着德尔塔变异毒株继续给COVID-19大流行的路径带来不确定性，未来的不确定性更大</blockquote></p><p> As Cook phrased it Tuesday, “the road to recovery will be a winding one.”</p><p><blockquote>正如库克周二所说，“复苏之路将是曲折的。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/apples-blowout-earnings-didnt-help-its-stock-and-heres-why-11627430752?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.marketwatch.com/story/apples-blowout-earnings-didnt-help-its-stock-and-heres-why-11627430752?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195067283","content_text":"Apple shares fell 1.5% in premarket trading.\n\nCFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales\nApple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS\nApple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.\nApple reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.\n“We expect very strong double-digit year-over-year revenue growth during the September quarter,” Maestri said, while continuing to avoid exact revenue guidance due to uncertainty related to the COVID-19 pandemic. “We expect revenue growth to be lower than our June quarter year-over-year growth of 36%.”\nApple’s shares had gained in after-hours trading to that point, but immediately fell back and ultimately ended the extended trading session with a 2% decline.\nBeyond overall revenue, Maestri also warned about one of Apple’s hottest businesses and declined to give any hints about prolonged declines in sales growth.\n“We expect our services growth rate to return to a more typical level,” Maestri said, referring to Apple’s services business, which reached record-high revenue in the quarter by growing 33% to $17.5 billion.\nThat growth rate also benefited from a favorable comparison as certain services were significantly impacted by the very beginning of the COVID-19 lockdowns a year ago, he added.\n“We expect significant growth in services, but not to the level that we’ve seen in June,” he said in response to a question about the company’s guidance.\nWhen asked about the upcoming holiday period, and whether the semiconductor and component shortage would have an impact on what is typically Apple’s biggest quarter, Maestri said he only wanted to talk about one quarter at a time. Some analysts have already been wondering if the second half of this year is going to be as strong as the first half among tech companies, especially the tech giants, and Apple’s June quarter seemed to be reflective of those fears.\nWhile it seems ridiculous to see shares decline after reporting such a mind-blowing quarter — iPhone total revenue alone was nearly $40 billion and Chief Executive Tim Cook said that 5G penetration is still “very very low, and so we feel really good about the future of the iPhone” — concerns that we are at a peak for tech are valid. And as the delta variant continues to create uncertainty about the path of the COVID-19 pandemic, there is even more uncertainty ahead\nAs Cook phrased it Tuesday, “the road to recovery will be a winding one.”","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1193,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800870783,"gmtCreate":1627294055942,"gmtModify":1633766443218,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/800870783","repostId":"1151724613","repostType":4,"repost":{"id":"1151724613","kind":"news","pubTimestamp":1627292512,"share":"https://www.laohu8.com/m/news/1151724613?lang=zh_CN&edition=full","pubTime":"2021-07-26 17:41","market":"us","language":"en","title":"Tesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151724613","media":"Barrons","summary":"Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.\nThe ","content":"<p>Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.</p><p><blockquote>特斯拉将于周一公布第二季度收益。准备好一份非常复杂的报告。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉（股票代码：TSLA）的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There will be a lot of moving parts, however, even more than usual for the world’s most valuable&nbsp;car company&nbsp;and its iconoclast CEO&nbsp;Elon Musk.</p><p><blockquote>然而，对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，将会有很多活动部件，甚至比平时更多。</blockquote></p><p> Factors that will contribute to bottom-line earnings include the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>影响底线收益的因素包括全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d908f359ce3333ed256684e007ff74d0\" tg-width=\"871\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> Those topics and more should be discussed on the earnings&nbsp;conference call&nbsp;scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>这些话题以及更多话题应该在定于下午5:30举行的收益电话会议上讨论。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-26 17:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.</p><p><blockquote>特斯拉将于周一公布第二季度收益。准备好一份非常复杂的报告。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉（股票代码：TSLA）的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There will be a lot of moving parts, however, even more than usual for the world’s most valuable&nbsp;car company&nbsp;and its iconoclast CEO&nbsp;Elon Musk.</p><p><blockquote>然而，对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，将会有很多活动部件，甚至比平时更多。</blockquote></p><p> Factors that will contribute to bottom-line earnings include the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>影响底线收益的因素包括全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d908f359ce3333ed256684e007ff74d0\" tg-width=\"871\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> Those topics and more should be discussed on the earnings&nbsp;conference call&nbsp;scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>这些话题以及更多话题应该在定于下午5:30举行的收益电话会议上讨论。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_LEADSUPP_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151724613","content_text":"Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.\nThe EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.\nThere will be a lot of moving parts, however, even more than usual for the world’s most valuable car company and its iconoclast CEO Elon Musk.\nFactors that will contribute to bottom-line earnings include the global semiconductor shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.\n\nTesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.\nThe good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered more than 200,000 vehicles in a single quarter.\nAfter earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla beat earnings estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.\nThere is also the issue of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.\nInvestors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its charging network to other EVs down the road.\nThose topics and more should be discussed on the earnings conference call scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the S&P 500 and Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175198973,"gmtCreate":1627011433992,"gmtModify":1633768787670,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175198973","repostId":"1127402643","repostType":4,"repost":{"id":"1127402643","kind":"news","pubTimestamp":1627008952,"share":"https://www.laohu8.com/m/news/1127402643?lang=zh_CN&edition=full","pubTime":"2021-07-23 10:55","market":"us","language":"en","title":"Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127402643","media":"Barron's","summary":"Profits are inching back across the airline industry as leisure travel surges, while business and lo","content":"<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAirline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-23 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UAL":"联合大陆航空","AAL":"美国航空","DAL":"达美航空","LUV":"西南航空","C":"花旗"},"source_url":"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127402643","content_text":"Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.\nBut carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.\nThe other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.\nWhile Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.\nFor now, airlines are largely meeting or beating forecasts, albeit with some hiccups.\nAmerican Airlines topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.\nExcluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.\nAmerican is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.\nBut American is likely to take longer to return to pretax profits than its legacy rivals United Continental and Delta Air Lines, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.\nSyth maintained a Market Perform rating on the stock.\nCitigroup ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.\nHe also maintained a Neutral rating on the stock and $21.50 target.\nSouthwest Airlines, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.\nSouthwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.\nBut Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.\nBut Kelly also highlighted positive booking trends, noting that leisure traffic in June rebounded above 2019 levels at comparable fares. Leisure bookings and fares in July are trending higher than July 2019 levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.\nThe carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.\nShe maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”\nSyth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.\nAirline stocks aren’t doing great this year, however. The sector is underperforming the S&P 500, gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&P 500.\nThe only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.","news_type":1,"symbols_score_info":{"DAL":0.9,"LUV":0.9,"C":0.9,"AAL":0.9,"UAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175191092,"gmtCreate":1627011387716,"gmtModify":1633768788623,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175191092","repostId":"1127402643","repostType":4,"repost":{"id":"1127402643","kind":"news","pubTimestamp":1627008952,"share":"https://www.laohu8.com/m/news/1127402643?lang=zh_CN&edition=full","pubTime":"2021-07-23 10:55","market":"us","language":"en","title":"Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127402643","media":"Barron's","summary":"Profits are inching back across the airline industry as leisure travel surges, while business and lo","content":"<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAirline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-23 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UAL":"联合大陆航空","AAL":"美国航空","DAL":"达美航空","LUV":"西南航空","C":"花旗"},"source_url":"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127402643","content_text":"Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.\nBut carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.\nThe other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.\nWhile Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.\nFor now, airlines are largely meeting or beating forecasts, albeit with some hiccups.\nAmerican Airlines topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.\nExcluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.\nAmerican is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.\nBut American is likely to take longer to return to pretax profits than its legacy rivals United Continental and Delta Air Lines, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.\nSyth maintained a Market Perform rating on the stock.\nCitigroup ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.\nHe also maintained a Neutral rating on the stock and $21.50 target.\nSouthwest Airlines, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.\nSouthwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.\nBut Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.\nBut Kelly also highlighted positive booking trends, noting that leisure traffic in June rebounded above 2019 levels at comparable fares. Leisure bookings and fares in July are trending higher than July 2019 levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.\nThe carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.\nShe maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”\nSyth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.\nAirline stocks aren’t doing great this year, however. The sector is underperforming the S&P 500, gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&P 500.\nThe only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.","news_type":1,"symbols_score_info":{"DAL":0.9,"LUV":0.9,"C":0.9,"AAL":0.9,"UAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":800870783,"gmtCreate":1627294055942,"gmtModify":1633766443218,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/800870783","repostId":"1151724613","repostType":4,"repost":{"id":"1151724613","kind":"news","pubTimestamp":1627292512,"share":"https://www.laohu8.com/m/news/1151724613?lang=zh_CN&edition=full","pubTime":"2021-07-26 17:41","market":"us","language":"en","title":"Tesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151724613","media":"Barrons","summary":"Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.\nThe ","content":"<p>Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.</p><p><blockquote>特斯拉将于周一公布第二季度收益。准备好一份非常复杂的报告。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉（股票代码：TSLA）的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There will be a lot of moving parts, however, even more than usual for the world’s most valuable&nbsp;car company&nbsp;and its iconoclast CEO&nbsp;Elon Musk.</p><p><blockquote>然而，对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，将会有很多活动部件，甚至比平时更多。</blockquote></p><p> Factors that will contribute to bottom-line earnings include the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>影响底线收益的因素包括全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d908f359ce3333ed256684e007ff74d0\" tg-width=\"871\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> Those topics and more should be discussed on the earnings&nbsp;conference call&nbsp;scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>这些话题以及更多话题应该在定于下午5:30举行的收益电话会议上讨论。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-26 17:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.</p><p><blockquote>特斯拉将于周一公布第二季度收益。准备好一份非常复杂的报告。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉（股票代码：TSLA）的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There will be a lot of moving parts, however, even more than usual for the world’s most valuable&nbsp;car company&nbsp;and its iconoclast CEO&nbsp;Elon Musk.</p><p><blockquote>然而，对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，将会有很多活动部件，甚至比平时更多。</blockquote></p><p> Factors that will contribute to bottom-line earnings include the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>影响底线收益的因素包括全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d908f359ce3333ed256684e007ff74d0\" tg-width=\"871\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> Those topics and more should be discussed on the earnings&nbsp;conference call&nbsp;scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>这些话题以及更多话题应该在定于下午5:30举行的收益电话会议上讨论。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_LEADSUPP_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151724613","content_text":"Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.\nThe EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.\nThere will be a lot of moving parts, however, even more than usual for the world’s most valuable car company and its iconoclast CEO Elon Musk.\nFactors that will contribute to bottom-line earnings include the global semiconductor shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.\n\nTesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.\nThe good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered more than 200,000 vehicles in a single quarter.\nAfter earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla beat earnings estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.\nThere is also the issue of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.\nInvestors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its charging network to other EVs down the road.\nThose topics and more should be discussed on the earnings conference call scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the S&P 500 and Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803421041,"gmtCreate":1627458571683,"gmtModify":1633764806428,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"Like back pls","listText":"Like back pls","text":"Like back pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803421041","repostId":"1195067283","repostType":4,"repost":{"id":"1195067283","kind":"news","pubTimestamp":1627459353,"share":"https://www.laohu8.com/m/news/1195067283?lang=zh_CN&edition=full","pubTime":"2021-07-28 16:02","market":"us","language":"en","title":"Apple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195067283","media":"MarketWatch","summary":"CFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales. Apple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS. Apple reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing ha","content":"<p>Apple&nbsp;shares&nbsp;fell&nbsp;1.5%&nbsp;in premarket trading.</p><p><blockquote>苹果股价在盘前交易中下跌1。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/46b6dcdfd6c3341849a132b84908df8a\" tg-width=\"881\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> CFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales</p><p><blockquote>首席财务官表示，尽管盈利和iPhone销量大幅增长，但整体和热门服务业的销售增长将放缓，导致盘后交易中股价走低</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df758af59b72a37be435c6d3859ce151\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Apple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS</span></p><p><blockquote><p class=\"t-img-caption\"><span>苹果上季度iPhone销售额接近400亿美元。彭博新闻社</span></p></blockquote></p><p> Apple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.</p><p><blockquote>苹果公司周二对增长放缓的预测给该公司第三财季的巨大业绩蒙上了阴影，这削弱了其创纪录的业绩，并导致股价下跌。</blockquote></p><p> Apple&nbsp;reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.</p><p><blockquote>苹果周二公布了有史以来最强劲的6月份季度业绩，利润几乎翻了一番，并大幅超越iPhone——iPhone收入超出华尔街预期高达50亿美元。但当苹果首席财务官卢卡·马埃斯特里(Luca Maestri)在电话会议上表示，由于汇率、半导体短缺以及与上一年的比较更加严格，该公司本季度的收入增长将放缓时，庆祝活动戛然而止。</blockquote></p><p> “We expect very strong double-digit year-over-year revenue growth during the September quarter,” Maestri said, while continuing to avoid exact revenue guidance due to uncertainty related to the COVID-19 pandemic. “We expect revenue growth to be lower than our June quarter year-over-year growth of 36%.”</p><p><blockquote>Maestri表示：“我们预计9月份季度的收入将实现非常强劲的两位数同比增长。”同时，由于与COVID-19大流行相关的不确定性，他继续避免提供确切的收入指引。“我们预计收入增长将低于6月份季度36%的同比增长。”</blockquote></p><p> Apple’s shares had gained in after-hours trading to that point, but immediately fell back and ultimately ended the extended trading session with a 2% decline.</p><p><blockquote>当时，苹果股价在盘后交易中上涨，但立即回落，最终以2%的跌幅结束延长交易时段。</blockquote></p><p> Beyond overall revenue, Maestri also warned about one of Apple’s hottest businesses and declined to give any hints about prolonged declines in sales growth.</p><p><blockquote>除了整体收入之外，Maestri还对苹果最热门的业务之一发出警告，并拒绝就销售增长长期下降给出任何暗示。</blockquote></p><p> “We expect our services growth rate to return to a more typical level,” Maestri said, referring to Apple’s services business, which reached record-high revenue in the quarter by growing 33% to $17.5 billion.</p><p><blockquote>Maestri表示：“我们预计我们的服务增长率将恢复到更典型的水平。”他指的是苹果的服务业务，该业务本季度收入增长33%，达到175亿美元，创历史新高。</blockquote></p><p> That growth rate also benefited from a favorable comparison as certain services were significantly impacted by the very beginning of the COVID-19 lockdowns a year ago, he added.</p><p><blockquote>他补充说，这一增长率还受益于有利的比较，因为某些服务在一年前就受到了COVID-19封锁的重大影响。</blockquote></p><p> “We expect significant growth in services, but not to the level that we’ve seen in June,” he said in response to a question about the company’s guidance.</p><p><blockquote>“我们预计服务业将大幅增长，但不会达到6月份的水平，”他在回答有关公司指引的问题时表示。</blockquote></p><p> When asked about the upcoming holiday period, and whether the semiconductor and component shortage would have an impact on what is typically Apple’s biggest quarter, Maestri said he only wanted to talk about one quarter at a time. Some analysts have already been wondering if the second half of this year is going to be as strong as the first half among tech companies, especially the tech giants, and Apple’s June quarter seemed to be reflective of those fears.</p><p><blockquote>当被问及即将到来的假期，以及半导体和零部件短缺是否会对苹果通常最大的季度产生影响时，马埃斯特里表示，他只想一次谈论一个季度。一些分析师已经在想，科技公司，尤其是科技巨头，今年下半年是否会像上半年一样强劲，而苹果6月份的季度似乎反映了这些担忧。</blockquote></p><p> While it seems ridiculous to see shares decline after reporting such a mind-blowing quarter — iPhone total revenue alone was nearly $40 billion and Chief Executive Tim Cook said that 5G penetration is still “very very low, and so we feel really good about the future of the iPhone” — concerns that we are at a peak for tech are valid. And as the delta variant continues to create uncertainty about the path of the COVID-19 pandemic, there is even more uncertainty ahead</p><p><blockquote>虽然在报告了如此令人兴奋的季度后看到股价下跌似乎很荒谬——仅iPhone的总收入就接近400亿美元，首席执行官蒂姆·库克(Tim Cook)表示，5G渗透率仍然“非常非常低，因此我们对iPhone的未来感觉非常好”——对我们正处于科技巅峰的担忧是有道理的。随着德尔塔变异毒株继续给COVID-19大流行的路径带来不确定性，未来的不确定性更大</blockquote></p><p> As Cook phrased it Tuesday, “the road to recovery will be a winding one.”</p><p><blockquote>正如库克周二所说，“复苏之路将是曲折的。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple’s blowout earnings didn’t help its stock, and here’s why<blockquote>苹果的井喷式盈利并没有帮助其股价，原因如下</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-28 16:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple&nbsp;shares&nbsp;fell&nbsp;1.5%&nbsp;in premarket trading.</p><p><blockquote>苹果股价在盘前交易中下跌1。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/46b6dcdfd6c3341849a132b84908df8a\" tg-width=\"881\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> CFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales</p><p><blockquote>首席财务官表示，尽管盈利和iPhone销量大幅增长，但整体和热门服务业的销售增长将放缓，导致盘后交易中股价走低</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df758af59b72a37be435c6d3859ce151\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Apple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS</span></p><p><blockquote><p class=\"t-img-caption\"><span>苹果上季度iPhone销售额接近400亿美元。彭博新闻社</span></p></blockquote></p><p> Apple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.</p><p><blockquote>苹果公司周二对增长放缓的预测给该公司第三财季的巨大业绩蒙上了阴影，这削弱了其创纪录的业绩，并导致股价下跌。</blockquote></p><p> Apple&nbsp;reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.</p><p><blockquote>苹果周二公布了有史以来最强劲的6月份季度业绩，利润几乎翻了一番，并大幅超越iPhone——iPhone收入超出华尔街预期高达50亿美元。但当苹果首席财务官卢卡·马埃斯特里(Luca Maestri)在电话会议上表示，由于汇率、半导体短缺以及与上一年的比较更加严格，该公司本季度的收入增长将放缓时，庆祝活动戛然而止。</blockquote></p><p> “We expect very strong double-digit year-over-year revenue growth during the September quarter,” Maestri said, while continuing to avoid exact revenue guidance due to uncertainty related to the COVID-19 pandemic. “We expect revenue growth to be lower than our June quarter year-over-year growth of 36%.”</p><p><blockquote>Maestri表示：“我们预计9月份季度的收入将实现非常强劲的两位数同比增长。”同时，由于与COVID-19大流行相关的不确定性，他继续避免提供确切的收入指引。“我们预计收入增长将低于6月份季度36%的同比增长。”</blockquote></p><p> Apple’s shares had gained in after-hours trading to that point, but immediately fell back and ultimately ended the extended trading session with a 2% decline.</p><p><blockquote>当时，苹果股价在盘后交易中上涨，但立即回落，最终以2%的跌幅结束延长交易时段。</blockquote></p><p> Beyond overall revenue, Maestri also warned about one of Apple’s hottest businesses and declined to give any hints about prolonged declines in sales growth.</p><p><blockquote>除了整体收入之外，Maestri还对苹果最热门的业务之一发出警告，并拒绝就销售增长长期下降给出任何暗示。</blockquote></p><p> “We expect our services growth rate to return to a more typical level,” Maestri said, referring to Apple’s services business, which reached record-high revenue in the quarter by growing 33% to $17.5 billion.</p><p><blockquote>Maestri表示：“我们预计我们的服务增长率将恢复到更典型的水平。”他指的是苹果的服务业务，该业务本季度收入增长33%，达到175亿美元，创历史新高。</blockquote></p><p> That growth rate also benefited from a favorable comparison as certain services were significantly impacted by the very beginning of the COVID-19 lockdowns a year ago, he added.</p><p><blockquote>他补充说，这一增长率还受益于有利的比较，因为某些服务在一年前就受到了COVID-19封锁的重大影响。</blockquote></p><p> “We expect significant growth in services, but not to the level that we’ve seen in June,” he said in response to a question about the company’s guidance.</p><p><blockquote>“我们预计服务业将大幅增长，但不会达到6月份的水平，”他在回答有关公司指引的问题时表示。</blockquote></p><p> When asked about the upcoming holiday period, and whether the semiconductor and component shortage would have an impact on what is typically Apple’s biggest quarter, Maestri said he only wanted to talk about one quarter at a time. Some analysts have already been wondering if the second half of this year is going to be as strong as the first half among tech companies, especially the tech giants, and Apple’s June quarter seemed to be reflective of those fears.</p><p><blockquote>当被问及即将到来的假期，以及半导体和零部件短缺是否会对苹果通常最大的季度产生影响时，马埃斯特里表示，他只想一次谈论一个季度。一些分析师已经在想，科技公司，尤其是科技巨头，今年下半年是否会像上半年一样强劲，而苹果6月份的季度似乎反映了这些担忧。</blockquote></p><p> While it seems ridiculous to see shares decline after reporting such a mind-blowing quarter — iPhone total revenue alone was nearly $40 billion and Chief Executive Tim Cook said that 5G penetration is still “very very low, and so we feel really good about the future of the iPhone” — concerns that we are at a peak for tech are valid. And as the delta variant continues to create uncertainty about the path of the COVID-19 pandemic, there is even more uncertainty ahead</p><p><blockquote>虽然在报告了如此令人兴奋的季度后看到股价下跌似乎很荒谬——仅iPhone的总收入就接近400亿美元，首席执行官蒂姆·库克(Tim Cook)表示，5G渗透率仍然“非常非常低，因此我们对iPhone的未来感觉非常好”——对我们正处于科技巅峰的担忧是有道理的。随着德尔塔变异毒株继续给COVID-19大流行的路径带来不确定性，未来的不确定性更大</blockquote></p><p> As Cook phrased it Tuesday, “the road to recovery will be a winding one.”</p><p><blockquote>正如库克周二所说，“复苏之路将是曲折的。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/apples-blowout-earnings-didnt-help-its-stock-and-heres-why-11627430752?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.marketwatch.com/story/apples-blowout-earnings-didnt-help-its-stock-and-heres-why-11627430752?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195067283","content_text":"Apple shares fell 1.5% in premarket trading.\n\nCFO suggests that sales growth will slow overall and in the hot services sector, sending shares lower in after-hours trading despite stunning beat in earnings and iPhone sales\nApple racked up nearly $40 billion in iPhone sales last quarter. BLOOMBERG NEWS\nApple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.\nApple reported its strongest June quarter ever on Tuesday, with a near doubling of its profits and a whopping iPhone beat— iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.\n“We expect very strong double-digit year-over-year revenue growth during the September quarter,” Maestri said, while continuing to avoid exact revenue guidance due to uncertainty related to the COVID-19 pandemic. “We expect revenue growth to be lower than our June quarter year-over-year growth of 36%.”\nApple’s shares had gained in after-hours trading to that point, but immediately fell back and ultimately ended the extended trading session with a 2% decline.\nBeyond overall revenue, Maestri also warned about one of Apple’s hottest businesses and declined to give any hints about prolonged declines in sales growth.\n“We expect our services growth rate to return to a more typical level,” Maestri said, referring to Apple’s services business, which reached record-high revenue in the quarter by growing 33% to $17.5 billion.\nThat growth rate also benefited from a favorable comparison as certain services were significantly impacted by the very beginning of the COVID-19 lockdowns a year ago, he added.\n“We expect significant growth in services, but not to the level that we’ve seen in June,” he said in response to a question about the company’s guidance.\nWhen asked about the upcoming holiday period, and whether the semiconductor and component shortage would have an impact on what is typically Apple’s biggest quarter, Maestri said he only wanted to talk about one quarter at a time. Some analysts have already been wondering if the second half of this year is going to be as strong as the first half among tech companies, especially the tech giants, and Apple’s June quarter seemed to be reflective of those fears.\nWhile it seems ridiculous to see shares decline after reporting such a mind-blowing quarter — iPhone total revenue alone was nearly $40 billion and Chief Executive Tim Cook said that 5G penetration is still “very very low, and so we feel really good about the future of the iPhone” — concerns that we are at a peak for tech are valid. And as the delta variant continues to create uncertainty about the path of the COVID-19 pandemic, there is even more uncertainty ahead\nAs Cook phrased it Tuesday, “the road to recovery will be a winding one.”","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1193,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175198973,"gmtCreate":1627011433992,"gmtModify":1633768787670,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175198973","repostId":"1127402643","repostType":4,"repost":{"id":"1127402643","kind":"news","pubTimestamp":1627008952,"share":"https://www.laohu8.com/m/news/1127402643?lang=zh_CN&edition=full","pubTime":"2021-07-23 10:55","market":"us","language":"en","title":"Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127402643","media":"Barron's","summary":"Profits are inching back across the airline industry as leisure travel surges, while business and lo","content":"<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAirline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-23 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UAL":"联合大陆航空","AAL":"美国航空","DAL":"达美航空","LUV":"西南航空","C":"花旗"},"source_url":"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127402643","content_text":"Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.\nBut carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.\nThe other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.\nWhile Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.\nFor now, airlines are largely meeting or beating forecasts, albeit with some hiccups.\nAmerican Airlines topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.\nExcluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.\nAmerican is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.\nBut American is likely to take longer to return to pretax profits than its legacy rivals United Continental and Delta Air Lines, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.\nSyth maintained a Market Perform rating on the stock.\nCitigroup ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.\nHe also maintained a Neutral rating on the stock and $21.50 target.\nSouthwest Airlines, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.\nSouthwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.\nBut Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.\nBut Kelly also highlighted positive booking trends, noting that leisure traffic in June rebounded above 2019 levels at comparable fares. Leisure bookings and fares in July are trending higher than July 2019 levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.\nThe carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.\nShe maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”\nSyth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.\nAirline stocks aren’t doing great this year, however. The sector is underperforming the S&P 500, gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&P 500.\nThe only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.","news_type":1,"symbols_score_info":{"DAL":0.9,"LUV":0.9,"C":0.9,"AAL":0.9,"UAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175191092,"gmtCreate":1627011387716,"gmtModify":1633768788623,"author":{"id":"3576066254911822","authorId":"3576066254911822","name":"Havier","avatar":"https://static.tigerbbs.com/511acfc4da5d0028e130fb23f17bd845","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576066254911822","idStr":"3576066254911822"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175191092","repostId":"1127402643","repostType":4,"repost":{"id":"1127402643","kind":"news","pubTimestamp":1627008952,"share":"https://www.laohu8.com/m/news/1127402643?lang=zh_CN&edition=full","pubTime":"2021-07-23 10:55","market":"us","language":"en","title":"Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127402643","media":"Barron's","summary":"Profits are inching back across the airline industry as leisure travel surges, while business and lo","content":"<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Airline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAirline Earnings Show Signs of Life. But New Challenges Are Emerging.<blockquote>航空公司盈利显示出复苏迹象。但新的挑战正在出现。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-23 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.</p><p><blockquote>随着休闲旅行的激增，整个航空业的利润正在小幅回落，而商务和长途国际旅行则显示出复苏的迹象。</blockquote></p><p> But carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.</p><p><blockquote>但航空公司面临着新的挑战：过去几个月航空燃油价格飙升，给营业利润带来压力。秋季旅游旺季通常休闲活动疲软，但航空公司可能必须看到企业大幅上涨才能实现华尔街的目标。</blockquote></p><p> The other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.</p><p><blockquote>另一个主要变量：冠状病毒的德尔塔变异毒株。如果这种变体导致边境重新开放和旅行限制的取消推迟，几个月来建立的旅行势头可能会放缓或停滞。</blockquote></p><p> While Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.</p><p><blockquote>虽然欧洲一直在向美国公民重新开放，但拜登政府在取消对来自欧洲和其他地区（包括中国、印度和巴西）游客的限制方面进展缓慢。美国最近以新冠肺炎病例激增为由，向英国发出了不要旅行的警告。</blockquote></p><p> For now, airlines are largely meeting or beating forecasts, albeit with some hiccups.</p><p><blockquote>目前，航空公司基本上达到或超过了预期，尽管存在一些问题。</blockquote></p><p> <a href=\"https://laohu8.com/S/AAL\">American Airlines</a> topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.</p><p><blockquote><a href=\"https://laohu8.com/S/AAL\">美国航空公司</a>本季度收入和盈利超出预期。该航空公司公布的销售额为75亿美元，比市场普遍预测高出2.2%，调整后每股亏损1.69美元，超出预期的亏损2.03美元。</blockquote></p><p> Excluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.</p><p><blockquote>美国航空表示，不包括一系列特殊项目（包括14亿美元的联邦工资支持和税收抵免），其利润为1900万美元，即每股3美分。</blockquote></p><p> American is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.</p><p><blockquote>美国航空也在恢复大流行前的运力，并表示预计今年夏天其国内座位容量将超过90%，国际座位容量将达到80%。对于通常弱于夏季的第三季度，该航空公司预计运力将下降15%至20%，与华尔街的预期基本一致。</blockquote></p><p> But American is likely to take longer to return to pretax profits than its legacy rivals&nbsp;<a href=\"https://laohu8.com/S/UAL\">United Continental</a> and&nbsp;<a href=\"https://laohu8.com/S/DAL\">Delta Air Lines</a>, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.</p><p><blockquote>但美国航空可能需要比其传统竞争对手更长的时间才能恢复税前利润<a href=\"https://laohu8.com/S/UAL\">United Continental</a>和<a href=\"https://laohu8.com/S/DAL\">达美航空</a>Raymond James分析师Savanthi Syth指出。美国航空的巨额债务负担正在拖累业绩。尽管该航空公司表示计划比之前预期更快地偿还债务，但这仍然是资产负债表上的一个负担。</blockquote></p><p> Syth maintained a Market Perform rating on the stock.</p><p><blockquote>Syth维持该股的市场表现评级。</blockquote></p><p> <a href=\"https://laohu8.com/S/C\">Citigroup</a> ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.</p><p><blockquote><a href=\"https://laohu8.com/S/C\">花旗集团</a>斯蒂芬·特伦特(Stephen Trent)也对美国人在未来四年内偿还150亿美元债务的计划表示怀疑。他写道，该航空公司“在四年内将财务杠杆减少150亿美元的看涨期权是受欢迎的，但这肯定不是一件容易的事情。”他指出，这一数字高于美国航空137亿美元的总股本价值，而且该航空公司的债务偿还将降低其在其他领域投资的灵活性。</blockquote></p><p> He also maintained a Neutral rating on the stock and $21.50 target.</p><p><blockquote>他还维持该股的中性评级和21.50美元的目标。</blockquote></p><p> <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a>, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.</p><p><blockquote><a href=\"https://laohu8.com/S/LUV\">西南航空</a>另一方面，该公司拥有主要航空公司中最强劲的资产负债表，以及对航空旅行中最强劲的部分（国内休闲）的敞口，这两个因素应该有助于其远远领先于其他传统航空公司实现有意义的利润。</blockquote></p><p> Southwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.</p><p><blockquote>西南航空的第二季度表现好坏参半。该航空公司公布的收入略高于预期，为40亿美元，比市场普遍预期高出1.8%。该航空公司公布的息税折旧摊销前利润(Ebitda)为2.28亿美元，高于预期的1.92亿美元。</blockquote></p><p> But Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.</p><p><blockquote>但西南航空的每股收益未达到预期，亏损35美分，而预期为亏损23美分。首席执行官加里·凯利在一份新闻稿中指出，航空燃油价格较第一季度大幅上涨，拖累了利润。该航空公司预计第三季度成本将增加，因为它将召回大多数员工，而燃油价格仍然很高。</blockquote></p><p> But Kelly also highlighted positive booking trends, noting that leisure traffic in&nbsp;June rebounded above&nbsp;2019&nbsp;levels at comparable fares. Leisure bookings and fares in July are trending higher than&nbsp;July 2019&nbsp;levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.</p><p><blockquote>但凯利也强调了积极的预订趋势，指出6月份的休闲客流量以可比票价反弹至2019年水平以上。他补充说，7月份的休闲预订和票价趋势高于2019年7月的水平，虽然业务继续滞后，但他表示，该航空公司的企业预订量“每周稳步改善”。</blockquote></p><p> The carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.</p><p><blockquote>该航空公司第三季度的运力前景与2019年水平持平。这超出了一些预测；例如，Cowen的Helane Becker曾预计产能将下降11%。</blockquote></p><p> She maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”</p><p><blockquote>她维持该股的买入评级和67美元的目标，同时警告称月度业绩“值得监控”。</blockquote></p><p> Syth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.</p><p><blockquote>Syth也喜欢这一前景，并指出“收入前景似乎令人鼓舞”。她还维持跑赢大盘和68美元的目标。</blockquote></p><p></p><p> Airline stocks aren’t doing great this year, however. The&nbsp;sector&nbsp;is underperforming the&nbsp;S&amp;P 500,&nbsp;gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&amp;P 500.</p><p><blockquote>然而，航空股今年表现不佳。该行业的表现逊于标准普尔500指数，上涨11.5%，而大盘的回报率为16%。尽管强劲的第二季度业绩引发了小幅上涨，但该行业上个月仍下跌8.5%，而标普500则上涨2.6%。</blockquote></p><p> The only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.</p><p><blockquote>今年唯一跑赢市场的航空公司也恰好是财务最脆弱的航空公司：美国航空。同比上涨36.6%，是该行业涨幅的三倍多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UAL":"联合大陆航空","AAL":"美国航空","DAL":"达美航空","LUV":"西南航空","C":"花旗"},"source_url":"https://www.barrons.com/articles/airline-earnings-stocks-51626967412?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127402643","content_text":"Profits are inching back across the airline industry as leisure travel surges, while business and long-haul international show signs of life.\nBut carriers face new challenges: Jet fuel prices have surged in the last few months, pressuring operating profits. And the fall travel season, typically weak for leisure, will likely have to see big gains in corporate for airlines to hit Wall Street’s targets.\nThe other major variable: the Delta variant of the coronavirus. Travel momentum that has built for months may slow or stall if the variant prompts delays in border reopenings and a lifting of travel restrictions.\nWhile Europe has been reopening to U.S. citizens, the Biden administration isgoing slowin lifting restrictions on visitors from Europe and other regions, including China, India, and Brazil. And the U.S. recently issued a do-not-travelwarningto the U.K., citing a surge in Covid-19 cases.\nFor now, airlines are largely meeting or beating forecasts, albeit with some hiccups.\nAmerican Airlines topped estimates for revenue and earnings in the quarter. The carrier reported $7.5 billion in sales, 2.2% ahead of consensus forecasts, and posted an adjusted loss of $1.69 a share, beating forecasts for a loss of $2.03.\nExcluding a bevy of special items—including $1.4 billion of federal payroll support and tax credits—American said it earned a profit of $19 million or 3 cents a share.\nAmerican is also getting back to prepandemic capacity, saying that it expects to fly more than 90% of its domestic seat capacity and 80% of international this summer. For the third quarter, typically weaker than the summer, the carrier expects capacity to be down 15% to 20%, largely matching Wall Street estimates.\nBut American is likely to take longer to return to pretax profits than its legacy rivals United Continental and Delta Air Lines, notes Raymond James analyst Savanthi Syth. American’s huge debt load is weighing on results. And while the carrier said that it planned to pay down debt quicker than it previously expected, it remains a burden on the balance sheet.\nSyth maintained a Market Perform rating on the stock.\nCitigroup ’s Stephen Trent was also skeptical of Americans’ plans to pay down $15 billion in debt over the next four years. The carrier’s “call to reduce financial leverage by $15 billion in four years is welcome,” he wrote, “but is certainly not an easy task.” That figure is larger than American’s total equity value of $13.7 billion, he notes, and the carrier’s debt repayment will give it less flexibility to invest in other areas.\nHe also maintained a Neutral rating on the stock and $21.50 target.\nSouthwest Airlines, on the other hand, has the strongest balance sheet of the major carriers, along with exposure to the strongest segment of air travel—domestic leisure—two factors that should help it post meaningful profits well ahead of other legacy carriers.\nSouthwest’s second quarter was a mixed bag. The carrier reported slightly more revenue than forecast at $4 billion, beating consensus estimates by 1.8%. The airline posted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $228 million, ahead of forecasts for $192 million.\nBut Southwest missed forecasts for earnings per share, posting a loss of 35 cents, against estimates for a loss of 23 cents. Jet fuel prices weighed on the bottom line, increasing sharply from the first quarter, noted CEO Gary Kelly in a release. And the airline is predicting cost increases in the third quarter as it brings back most employees and fuel prices remain elevated.\nBut Kelly also highlighted positive booking trends, noting that leisure traffic in June rebounded above 2019 levels at comparable fares. Leisure bookings and fares in July are trending higher than July 2019 levels, he added, and while business continues to lag, he said the carrier is seeing “steady weekly improvements” in corporate bookings.\nThe carrier’s third-quarter outlook was for capacity to be flat compared with 2019 levels. That came in ahead of some forecasts; Cowen’s Helane Becker had expected capacity to be down 11%, for instance.\nShe maintained a Buy rating and $67 target on the stock while cautioning that monthly results “warrant monitoring.”\nSyth also liked the outlook, noting that “the revenue outlook appears encouraging.” She also maintained an Overweight and $68 target.\nAirline stocks aren’t doing great this year, however. The sector is underperforming the S&P 500, gaining 11.5% against a return of 16% for the broader market. And while strong second-quarter results have sparked a mini-rally, the sector is still down 8.5% over the last month versus a 2.6% gain for the S&P 500.\nThe only carrier beating the market this year also happens to be the one with the most fragile finances: American Airlines. It’s up 36.6% on the year, more than triple the sector’s gains.","news_type":1,"symbols_score_info":{"DAL":0.9,"LUV":0.9,"C":0.9,"AAL":0.9,"UAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}