Streetbeat News

Earnings

STLA

Stellantis NV (NYSE:STLA), the parent company of Chrysler, reported a 7% Y/Y net revenue growth in Q3 FY23 to €45.1 billion, led by improved volume and consistent pricing. The company also reported a surge in global BEV sales by 37% Y/Y. Stellantis plans to create a charging network with six other global automakers, installing at least 30,000 high-powered charge points to drive the EV transition in North America. The company repurchased shares worth €0.5 billion in Q3 FY23 and expects to complete the €1.5 billion 2023 Share Buyback Program in Q4 2023. STLA shares are trading higher by 3.11% at $18.56 premarket on the last check Tuesday.

Portfolio Pulse from Lekha Gupta

October 31, 2023 | 9:55 am

AMKR

BP

CHRS

LSCC

PETS

PKX

VFC

WDC

Several stocks are recording losses in today's pre-market trading session. PetMed Express, Lattice Semiconductor, Amkor Technology, V.F. Corporation, Coherus BioSciences, POSCO Holdings, BP, and Western Digital Corporation all saw declines. The reasons for these drops include weaker-than-expected sales, downbeat earnings, and poor financial results.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 9:44 am

ALLE

Allegion has increased its FY23 adjusted EPS guidance from $6.70 - $6.80 to $6.80 - $6.90, which is higher than the estimated $6.75.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 9:34 am

ALLE

Allegion (NYSE:ALLE) reported Q3 adjusted earnings of $1.94 per share, beating the analyst consensus estimate of $1.73 by 12.14%. This is an 18.29% increase from the same period last year. The company also reported quarterly sales of $917.90 million, beating the analyst consensus estimate of $910.41 million by 0.82%, a 0.46% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 9:31 am

F

S&P Global Ratings has upgraded Ford Motor Co's credit rating to investment grade, despite disappointing Q3 results and uncertainty due to a recent workers' union strike. Ford's CEO, Jim Farley, expressed pride in the team and highlighted the company's strong balance sheet. Despite a Q3 earnings miss and a $1.3 billion EBIT loss in its EV segment, S&P is optimistic about Ford's future, expecting cost reductions to offset higher labor costs and losses in its Model e segment. Ford shares are down 16.4% year-to-date.

Portfolio Pulse from Anan Ashraf

October 31, 2023 | 9:08 am

BBVA

BBVA reported Q3 earnings of $0.36 per share, a 24.14% increase from the same period last year. The company also reported $8.66 billion in sales, a 25.27% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:28 am

MIELF

MIELY

Mitsubishi Electric reported a 4% YoY increase in 2Q24 revenue to 1.318T yen. The net profit attributable to stockholders was up 51% YoY to 62.3B yen. Operating profit and profit before income taxes also saw significant increases of 61% and 47% respectively.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:07 am

BP

BP has provided its guidance for Q4 2023 and FY 2023. For Q4 2023, it expects reported upstream production to be broadly flat compared to Q3 2023, with lower volumes in its customer business and lower refining margins. For FY 2023, BP expects both reported and underlying upstream production to be higher compared to 2022, with higher production from oil production & operations and slightly lower production from gas & low carbon energy. It also expects to start four major projects in 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:59 am

BP

BP reported Q3 earnings per share of $1.15, missing the analyst consensus estimate of $1.37 by 16.06%. This is a 55.6% decrease from the same period last year. The company also reported quarterly sales of $53.27 billion, missing the analyst consensus estimate of $57.71 billion by 7.69%. This is a 3.16% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:54 am

SSNLF

Samsung Electronics Co reported Q3 sales of KRW67.40T ($51.3B), a decrease from KRW76.78T YoY. The company's profit also fell to KRW5.50T ($4.2B) from KRW9.14T YoY.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:40 am