Easy short here..
TTM posts Sep-Q earnings per ADSS of $0.89, vs. $0.56, above our $0.65 estimate, as strong strong growth at Jaguar Land Rover overcame domestic losses.
They beat estimates by 30%... made 1billion Euro in half year..
PT raised by $13
I saw this news in my E*Trade. Account...
Tata Motors Ltd. (TTMT), India’s biggest automaker, posted profit that beat analyst estimates as sales at its Jaguar Land Rover unit jumped, outweighing a loss at the company’s domestic division.
Second-quarter net income gained 71 percent to 35.4 billion rupees ($564 million), the Mumbai-based company said yesterday. That exceeded the 28 billion-rupee median of 39 analyst estimates compiled by Bloomberg. Profit at Jaguar Land Rover rose 66 percent to 507 million pounds ($815 million).
Enlarge image Range Rover Sport Assembly
An employee inspects the bodywork of a Range Rover Sport automobile as it moves along the assembly line at the Jaguar Land Rover Plc plant in Solihull. Photographer: Simon Dawson/Bloomberg
Retail sales at the luxury unit rose at the fastest pace in four quarters boosted by demand for Jaguar models, including the F-Type convertible that began shipping in May. The automaker has started sales of the Range Rover Sport, a sport utility vehicle, in some markets including the U.K. and China and plans to introduce the model in more markets.
“JLR is obviously enormously successfully right now, and it’s bizarre and unbalanced that it’s owned by a company that’s in structural decline,” Max Warburton, an analyst at Sanford C. Bernstein in Singapore with an “outperform” rating on the stock, said in a phone interview. Jaguar Land Rover “has just generated the best cash flow ever. That’s a game changer because they can start doing things with that.”
Sales at the company rose 30 percent to 557 billion rupees, exceeding the 536.6 billion-rupee median estimate.
Profit grew like crazy.. Jaguar is a good luxury brand... they are also planning electric vehicles..soon..
India market is to recover next year.. and imagine just not losing money on India Operations...
Earnings were released after market hours on friday in India. US activity tracks the indian activity hip-to-hip. We will need to wait until monday (india time - Sunday Evening). We will know by pre-market.. what has happened in india.. All india news point to 35 open on monday..
Buy options after the earnings.. premiums are crazy high...
All have fallen after earnings.. even though results were exceptional.. Case in point, NFLX... All options will go worthless...