Streetbeat News

Earnings

BMI

Badger Meter reported Q2 earnings of $0.76 per share, beating the analyst consensus estimate of $0.65 by 16.92%. This is a 33.33% increase over earnings of $0.57 per share from the same period last year. The company also reported quarterly sales of $175.86 million, beating the analyst consensus estimate of $156.85 million by 12.12%. This is a 27.59% increase over sales of $137.83 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:33 pm

CCI

Crown Castle Inc (NYSE:CCI) reported Q2 revenues of $1.867 billion, slightly beating the consensus of $1.86 billion. Site rental revenues rose 10% Y/Y to $1.73 billion. Adjusted EBITDA increased 10% Y/Y to $1.19 billion. However, the company cut the outlook for adjusted EBITDA by $50 million at the midpoint to $4.399 billion to $4.444 billion and AFFO per share by $0.09 at the midpoint to $7.50-$7.58. CCI shares are trading lower by 4.58% Y/Y at $108.30 premarket on the last check Thursday.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 12:29 pm

CVNA

Carvana Co. (NYSE:CVNA) shares surged 40% after reporting better-than-expected Q2 sales and positive adjusted EBITDA guidance for Q3. The company also agreed with noteholders to reduce total debt, extend maturities, and lower near-term cash interest expense. Traders expect Carvana's shares to continue to rally.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:23 pm

ALL

The Allstate Corporation (NYSE:ALL) announced estimated catastrophe losses for June of $1.01 billion or $799 million after-tax. The losses include 18 events estimated at $1.13 billion, with 60% of the losses related to four wind and hail events. Total catastrophe losses for Q2 were $2.70 billion, pre-tax. Unfavorable prior year reserve reestimates totaled $181 million in Q2. Allstate also implemented auto rate increases of 11.6% across 12 locations in June, expected to raise annualized written premiums by approximately $1.95 billion.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 12:22 pm

HOMB

Home BancShares (NYSE:HOMB) reported Q2 earnings of $0.51 per share, in line with analyst consensus. This is an 8.51% increase from the same period last year. The company also reported quarterly sales of $257.20 million, beating the analyst consensus estimate of $254.39 million by 1.10%. This is a 5.70% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:17 pm

COLB

Columbia Banking System's shares are trading lower following the company's worse-than-expected Q2 earnings per share (EPS) results.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:14 pm

POOL

Pool Corporation's shares are trading lower following the announcement of disappointing Q2 financial results, which fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:13 pm

CCI

Crown Castle has issued FY23 EPS guidance below estimates, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:12 pm

JNJ

Johnson & Johnson (JNJ) has reported Q2 FY23 adjusted earnings of $2.80 per share, beating the consensus of $2.62. Sales increased 6.3% to $25.5 billion, beating the consensus of $24.63 billion. The company has lifted its annual outlook due to strong sales growth from its MedTech business. JNJ shares are up 1.11% at $160.50 during the premarket session.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 12:12 pm

FHN

First Horizon Corporation (NYSE:FHN) reported Q2 revenues of $1.031 billion, up 39% Y/Y, beating the consensus of $921.53 million. However, the adjusted EPS of $0.39 marginally missed the consensus of $0.40. Following the earnings announcement, analysts from Raymond James and RBC Capital raised their price targets on First Horizon from $13 to $14.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:11 pm