Streetbeat News

Earnings

IWINF

Irwin Naturals reported Q1 FY23 revenue of $22.5 million, down 0.4% from Q1 2022. The company experienced a net loss of $7.7 million, including $6.5 million of impairment charges related to 2022 acquisitions. Adjusted EBITDA was negative $880,000. Irwin Naturals launched its first products in the cannabis market and signed ten brand licensing deals.

Portfolio Pulse from Vuk Zdinjak

June 01, 2023 | 12:02 pm

REED

Reeds Inc. anticipates FY23 gross margin to exceed 30% and modified EBITDA to become profitable by 2H23. The company also expects to achieve positive cash flow in 2H23.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 12:01 pm

CAL

Caleres expects Q2 2023 adjusted EPS of $0.87-$0.92, lower than the estimated $1.18, with consolidated net sales down 4-5% and diluted EPS of $0.79-$0.84.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 11:57 am

AI

CHWY

MIMO

TTOO

Chewy shares rose 17% in pre-market trading following a strong Q1 report. Other pre-market gainers include Airspan Networks, T2 Biosystems, AGBA Group Holding, Wejo Group, VCI Global, Hoth Therapeutics, Apollomics, AstroNova, and Kingsoft Cloud Holdings. Pre-market losers include C3.ai, Aridis Pharmaceuticals, Okta, Eledon Pharmaceuticals, Lexicon Pharmaceuticals, VolitionRx, Victoria's Secret, IM Cannabis, QualTek Services, and VIQ Solutions.

Portfolio Pulse from Lisa Levin

June 01, 2023 | 11:55 am

CAL

Caleres reiterates its FY23 adjusted EPS outlook of $4.10-$4.30, in line with the $4.17 estimate, but cuts its revenue outlook to $2.82B-$2.88B, down from the prior $2.97B-$3.03B and below the $2.98B estimate. Q2 adjusted EPS is expected to be $0.87-$0.92.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 11:54 am

REED

Reed's Q1 earnings per share (EPS) of $(1.70) missed the $(1.02) estimate, and sales of $11.16M missed the $14.12M estimate. This represents a 32% increase in losses and an 8.41% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 11:49 am

AAP

Advance Auto Parts (AAP) reported disappointing Q1 results, with sales growth of 1.3% YoY to $3.42 billion, missing estimates. Earnings of 72 cents per share also missed the consensus of $2.57. The company reduced its full-year guidance and quarterly dividend. Several analysts downgraded the stock and cut price targets.

Portfolio Pulse from Lisa Levin

June 01, 2023 | 11:47 am

REED

Reed's reported Q1 earnings with an EPS of $-1.7, missing estimates by 66.67%. Revenue was down $1.02 million from the same period last year. The company has a history of missing EPS estimates and experiencing share price drops.

Portfolio Pulse from Benzinga Insights

June 01, 2023 | 11:45 am

AI

C3.ai reported better-than-expected Q4 earnings with revenue of $72.4 million, beating estimates of $71.3 million. The company expects Q1 revenue between $70 million and $72.5 million, and full-year revenue between $295 million and $320 million. Analysts at Piper Sandler, JMP Securities, and Needham adjusted their price targets following the announcement.

Portfolio Pulse from Lisa Levin

June 01, 2023 | 11:36 am

LFCR

Lifecore Biomedical (NASDAQ:LFCR) reported Q3 earnings with an EPS of $-0.22, missing estimates by 69.23%. Revenue was down $25.47 million from the same period last year.

Portfolio Pulse from Benzinga Insights

June 01, 2023 | 11:27 am