Streetbeat News

Earnings

FBK

FB Financial Corp (NYSE:FBK) reported Q2 core revenue of $125.7 million, missing the consensus of $128.3 million. However, adjusted EPS stood at $0.77, beating the consensus of $0.65. The company's net interest margin decreased due to lower loan balances, and non-interest income also decreased due to higher interest rates. Despite these challenges, the company's deposits and loans held for investment increased compared to the prior year. FBK shares are trading higher by 9.4% in premarket trading.

Portfolio Pulse from Lekha Gupta

July 18, 2023 | 11:42 am

LMT

Lockheed Martin has raised its FY23 outlook, with revenue now expected to be between $66.25B and $66.75B, up from the previous estimate of $65B - $66B. The EPS is now projected to be $27 - $27.20, up from $26.60 - $26.90. The free cash flow remains unchanged at $6.2B.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:34 am

SYF

Synchrony Financial (SYF) reported Q2 sales of $4.12 billion, in line with consensus. Net interest income rose 8% Y/Y to $4.1 billion, while net earnings declined to $569 million from $804 million a year ago. The company beat the consensus with Q2 EPS of $1.32. SYF revised its 2023 outlook, expecting loan receivable growth of +10% and a net interest margin of 15.00% – 15.15%. The company's shares are trading higher by 1.30% at $35.97 premarket.

Portfolio Pulse from Lekha Gupta

July 18, 2023 | 11:32 am

MS

Morgan Stanley's Institutional Securities net revenues have decreased to $5.65B from $6.12B year-over-year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 11:32 am

MS

Morgan Stanley's Q2 provision for credit losses has increased to $161M, up from $101M year-over-year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 11:31 am

LMT

Lockheed Martin has reported a record backlog of $158 billion in Q2.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:31 am

MS

Morgan Stanley reported Q2 earnings of $1.24 per share, beating the analyst consensus estimate of $1.15 by 7.83%. However, this is a 13.89% decrease from the same period last year. The company also reported quarterly sales of $13.50 billion, beating the estimate of $13.08 billion by 3.21%, marking a 2.80% increase from last year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 11:31 am

LMT

Lockheed Martin reported Q2 earnings of $6.73 per share, beating the analyst consensus estimate of $6.45 by 4.34%. This is a 6.49% increase from last year. The company also reported quarterly sales of $16.69 billion, beating the analyst consensus estimate of $15.91 billion by 4.92%. This is an 8.07% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:30 am

NVS

Novartis AG reported Q2 FY23 sales of $13.62 billion, up 7% Y/Y and 9% on constant currency, beating the consensus of $13.17 billion. The company also announced a $15 billion share buyback program to be completed by 2025 and plans to spin off its generics division, Sandoz. Novartis has raised its revenue forecast for 2023 to high single digits, up from mid, with core operating income set to grow in the low double digits.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 11:11 am

CRGE

Charge Enterprises reported a backlog of approximately $138M in its Infrastructure segment at the end of Q2, representing a 43% increase from the prior year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:10 am