We are into the heart of earnings season and a few companies reported today that are solid bellwethers for the economy.
We are into the heart of earnings season and a few companies reported today that are solid bellwethers for the economy. There are positive signs of momentum so I wanted to highlight a few: Matt Flannery, President & CEO, United Rentals On overall demand and the year ahead: “The momentum we’re carrying into our busy season, along with our customers’ feedback for their business, supports our expectations that this will be another record year” “Our construction end markets saw strong growth led by nonresidential construction and infrastructure.
And on the industrial side, power and mining and minerals were notable standouts, with power continuing to post double-digit growth” The company boosted its guidance and shares are up 23%. Total revenue is now expected in the range of $16.9 billion to $17.4 billion, an increase of $100 million versus our initial guidance. Robert Isom, CEO, American Airlines On overall demand: “Demand for American’s product continues to grow, and during the quarter, we recorded the 9 highest revenue intake weeks in our history” Devon May, CFO, American Airlines On Q2 demand: “Demand across all cabins and entities remains robust.
We expect domestic unit revenue to grow more than 10% in the second quarter” Nat Pieper, Chief Commercial Officer, American Airlines On a structural shift in consumer spending: “Is there a long-term resetting in terms of consumer spending hierarchy. There’s a lot — we all remember revenge travel from COVID and people got tired of buying TVs and wanted to go see the world. And I think some of that has continued and extended” Note that American Airlines is more consumer focused and less focused on businesses and affluent customers than United or Delta so it’s a sign that the middle class is doing well.