AUS
NZ
UK
CA
USA
IND
_01_03_2023_09_56_51_558563.jpg)
Highlights:
- United Airlines posted an adjusted net income of US$ 927 million in Q3 2022.
- Rivian Automotive manufactured over 15k vehicles in Q3 2022.
- United Airlines’ net income in Q3 2022 was reported at US$ 942 million.
The year 2022 was challenging for investors due to the high volatility in the equity market. The market sentiment was tepid due to several headwinds ranging from the Russia-Ukraine war, inflation, rising interest rates, and an economic slowdown. So, how will 2023 be for the US stock market? Will the market bounce back to normal after a year’s bearish trend? Although certain sectors did well in the last two quarters of 2022, it was a dismal first-half year in decades.
That said, we take a look at two Nasdaq stocks and see how they have fared in the latest quarters:
United Airlines Holdings Inc. (NASDAQ:UAL)
One of the major US network carriers, United Airlines, holds a P/B ratio of 2.261. The airlines posted a third-quarter 2022 net income of US$ 942 million, significantly up from US$ 473 million in Q3 2021.
Notably, its adjusted net income was US$ 927 million compared to an adjusted net loss of US$ 329 million in the same comparable period.
United Airlines’ total operating revenue climbed to US$ 12.9 billion in Q3 2022 from US$ 7.75 billion in the third quarter of 2021.
The company said its passenger revenue for the reported quarter was US$ 11,653 million compared to US$ 6,637 million.
United Airlines’ operating income in Q3 2022 was US$ 1,458 million against an operating income of US$ 1,037 million in the corresponding quarter in 2021.
Source: ©Kalkine Media®; © Canva via Canva.com
Rivian Automotive Inc. (NASDAQ:RIVN)
Rivian Automotive is one of the top electric vehicle makers in the world. It designs, develops, and manufactures category-defining EVs and accessories. The company said that it had received an order of 100,000 vehicles from Amazon in the third quarter of 2022.
In the third quarter of 2022, Rivian manufactured more than 15,000 vehicles. It was a quarter-over-quarter increase of 67 per cent. The EV makers registered cash and cash equivalents of US$ 14 billion in Q3 2022.
The company said that it generated negative gross profit of US$ 917 million. The capital expenditures in Q3 2022 were US$ 298 million relative to US$ 467 million in Q3 2021.
Bottom line
In a market with uncertainty and volatility, investors should tread very carefully. However, if you want to protect your investments, you can consider adopting a long-term strategy and diversifying your portfolio. Also, do an in-depth analysis before putting your bets on any stock.
