Streetbeat News

Earnings

BC

Brunswick Corp (NYSE:BC) shares dropped by around 6% after the company reported lower than expected Q2 FY23 preliminary results. The company's revenues and adjusted EPS fell short of consensus estimates. The disappointing results are attributed to an IT security incident in June. The company also revised its FY23 adjusted EPS to approximately $9.50, down from the earlier range of $9.50-$11.00. The company's CEO expressed caution regarding the second-half financial performance due to the IT security incident and anticipated continued pressure on consumers globally.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 11:39 am

CVNA

Carvana Co (NYSE:CVNA) reported a Q2 FY23 sales decline of 23.6% YoY to $2.97 billion, beating the consensus estimate of $2.59 billion. Adjusted gross profit rose 24.2% to $538 million, and adjusted EBITDA was $155 million compared to a loss of $(216) million last year. Retail units sold decreased by 35% YoY. Carvana also agreed with noteholders to reduce total debt, extend maturities, and lower near-term cash interest expense. Shares are trading higher by 23.10% at $49.00 premarket.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 11:38 am

GS

Goldman Sachs has reported its Q2 equities net revenues at $2.97B, which is roughly the same as the previous year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:30 am

GS

Goldman Sachs has reported a Q2 provision for credit losses of $615M, which is lower than the $667M reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:29 am

GS

Goldman Sachs has reported a 4% year-on-year decrease in its Q2 Asset & Wealth Management revenues, which totaled $3.05 billion.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:28 am

RIO

Rio Tinto PLC (NYSE:RIO) has provided a production update for Q2, stating that Pilbara iron ore production was up 3% Y/Y at 81.3 metric tonnes (Mt). However, shipments were down 1% Y/Y due to planned maintenance and a train derailment. The company now expects full-year shipments for Pilbara to be at the upper half of the original guidance range. Bauxite production declined 5% Y/Y to 13.5 MT due to higher-than-average rainfall and equipment downtime. The company also downgraded production expectations for Titanium dioxide and refined copper. Consequently, Rio expects 2023 bauxite production to be at the lower end of the 54 to 57 MT range.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 11:28 am

GS

Goldman Sachs has reported a 14% year-on-year decrease in its Q2 Global Banking & Markets revenues, which now stand at $7.19 billion.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:27 am

ALLY

Ally Financial reported Q2 earnings of $0.96 per share, beating the analyst consensus estimate of $0.92 by 4.35%. However, the company's quarterly sales of $2.07 billion missed the analyst consensus estimate of $2.09 billion by 1.15%. This represents a 45.45% decrease in earnings and a 7.02% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:26 am

GS

Goldman Sachs Group Inc. reported its Q2 earnings per share (EPS) at $3.08, missing the estimated $3.18. However, the company's sales of $10.89 billion surpassed the estimated $10.84 billion.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:26 am

NTRS

Northern Trust (NASDAQ:NTRS) reported Q2 earnings of $1.56 per share, missing the analyst consensus estimate of $1.62 by 3.7 percent. This is a 16.13 percent decrease from the same period last year. However, the company's quarterly sales of $1.77 billion slightly beat the estimate by 0.01 percent, despite being a 0.54 percent decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 11:19 am