Streetbeat News

Earnings

FRME

First Merchants (NASDAQ:FRME) reported Q2 adjusted earnings of $1.02 per share, in line with analyst consensus. This is a 0.99% increase from last year. However, the company's quarterly sales of $164.15M missed the analyst consensus estimate of $172.96M by 5.09%, though it's a 4.60% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:05 pm

CTS

CTS Corporation has reduced its FY23 adjusted EPS outlook from $2.40 - $2.70 to $2.20 - $2.40, which is below the estimated $2.39.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:04 pm

SFNC

Simmons First Ntl (NASDAQ:SFNC) reported Q2 adjusted earnings of $0.48 per share, beating the analyst consensus estimate of $0.40 by 20%. However, the company's quarterly sales of $208.21 million missed the analyst consensus estimate of $219.40 million by 5.10%. Both earnings and sales show a decrease compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:04 pm

CTS

CTS Corporation has reduced its FY23 sales outlook from the range of $580M-$640M to $565M-$585M, which is lower than the previous estimate of $598.62M.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:03 pm

IBCP

Independent Bank (NASDAQ:IBCP) reported Q2 earnings of $0.70 per share, beating the analyst consensus estimate of $0.59 by 18.64%. This is a 14.75% increase from the same period last year. The company also reported quarterly sales of $53.77 million, beating the analyst consensus estimate of $38.04 million by 41.34%. This is a 49.10% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:03 pm

CTS

CTS Corporation reported Q2 adjusted earnings of $0.59 per share, beating the analyst consensus estimate of $0.53 by 11.32%. However, the company's quarterly sales of $145.20 million missed the analyst consensus estimate of $146.07 million by 0.60%. This represents a 4.84% decrease in earnings and a 0.15% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:01 pm

GM

General Motors Company (NYSE:GM) reported Q2 FY23 sales growth of 25% YoY to $44.75 billion, beating the analyst consensus. Q2 deliveries increased by 11.5% YoY. Operating income rose 33% YoY to $2.8 billion. The company raised its FY23 net income outlook from $8.4 billion-$9.9 billion to $9.3 billion-$10.7 billion. GM shares are trading higher by 1.78% in premarket.

Portfolio Pulse from Shivani Kumaresan

July 25, 2023 | 11:52 am

VZ

Verizon Communications reported mixed second-quarter results but reiterated its FY23 guidance. This news led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 11:51 am

FFIV

F5, Inc. (NASDAQ:FFIV) reported better-than-expected earnings for its third quarter, leading to a 9.9% jump in pre-market trading. The company's Q3 earnings were $3.21 per share, beating estimates of $2.86 per share. F5's Q3 sales were $702.64 million, versus expectations of $699.39 million. Analysts from Keybanc, Needham, and Barclays have raised their price targets on F5 following the earnings announcement.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 11:47 am

DOV

Dover Corporation reported lower than expected Q2 FY23 earnings results and revised its FY23 guidance downwards. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 11:47 am