9 out of 12 S&P 500 materials stocks achieved EPS acquisition this week: earnings scorecard

This week, 12 companies in the materials sector announced quarterly earnings, and 9 of them exceeded their earnings expectations for the same quarter.

On a quarter-by-quarter basis, the S&P 500 materials sector (NYSEARCA: XLB) fell 4.6%, below SPY's decline rate of 3.44.

There are several subsectors for basic materials, such as chemical products, metals and mining, and forest products, etc., but since global economic growth remains slow and uneven against the backdrop of ongoing geopolitical disputes, each is attracting attention due to relative supply and demand conditions. , delivery disruptions, rising interest rates.

In this week's financial results summary, 9 companies reported that out of the 12 companies' tickers that were reported, they exceeded profit, but the rest of the companies reported that profit was lower. On the revenue side, 4 companies exceeded earnings expectations, while the rest of the companies fell short of expectations.

Below are the latest quarterly reports released this week by some of the major companies.

Albemarle (ALB) recorded a higher-than-expected first quarter adjusted profit, rising +5.8% in Thursday's trading, despite sales falling 47% year over year to $1.36 billion in response to a sharp drop in lithium prices.

Linde (LIN) expects adjusted EPS guidance for the full year to be between $15.30 and $15.60, which is equivalent to 8% to 10% year-over-year growth.

Corteva (CTVA) has reconfirmed its guidance for the full year 2024 in response to exceeding profit expectations for the first quarter, and expects net sales to range between $17.4 billion and $17.7 billion compared to the consensus $17.58 billion.

The stock price rose 9.2% on Wednesday in response to chemical and material manufacturer DuPont de Nemours (DD) raising sales and profit forecasts, reaching a high for the first time in 2 years.

Ecolab (ECL) beat profit and revenue expectations, and the full-year adjusted EPS range increased 23% to 29% from the previous $6.10 to $6.50 range to $6.70.

As of the quarterly TD, 25 material companies have reported earnings so far. At the industry level, 13 chemical manufacturers, 2 construction materials companies, 6 container and packaging companies, and 4 metal and mining companies announced quarterly financial results.

Notable telecommunications service names that are scheduled to be reported next week include Hecla Mining (HL), FMC Corp (FMC), Alpha Metallurgical Resources (AMR), Intl Flavors (IFF), and Royal Gold (RGLD).