Streetbeat News

Earnings

GEV

GE Vernova has raised its FY24 revenue guidance to the higher end of the $34B-$35B range, surpassing the $34.63B estimate. The company also increased its FY24 adjusted EBITDA margin guidance to 5%-7% and its FY24 free cash flow guidance to $1.3B-$1.7B.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:28 am

GEV

GE Vernov (NYSE:GEV) reported Q2 sales of $8.2 billion, missing the analyst consensus estimate of $8.259 billion by 0.71%.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:26 am

AAL

GE

ITA

NETZ

GE Aerospace announced significant orders from EVA Air and American Airlines for its GEnx and CF34-8E engines, respectively. Despite these orders, GE's shares are trading lower following a Q2 revenue miss. The company plans to hire over 900 engineers in 2024 to support innovation. Investors can gain exposure through IShares U.S. Aerospace & Defense ETF (ITA) and TCW Transform Systems ETF (NETZ).

Portfolio Pulse from Lekha Gupta

July 24, 2024 | 10:25 am

TMHC

Taylor Morrison expects Q3 home closings to be approximately 3,200, with a gross margin of around 24%.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:20 am

TMHC

Taylor Morrison Home Corporation (TMHC) has updated its home delivery expectations for the year to 12,600 - 12,800 homes, up from the prior view of 12,500. The company also anticipates a home closings gross margin of around 24%, compared to the previous range of 23.5% - 24.0%.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:20 am

VRT

Vertiv Holdings shares are trading higher after the company reported better-than-expected Q2 EPS and sales. Additionally, the company raised its FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:19 am

OTIS

Otis Worldwide has revised its FY2024 adjusted EPS guidance to $3.85-$3.90 from $3.83-$3.90, aligning with the $3.87 estimate. The company also lowered its FY2024 sales guidance to $14.30B-$14.50B from $14.50B-$14.80B, compared to the $14.62B estimate. Organic sales are expected to rise 1%-3%, with new equipment sales down mid-single digits and service sales up 6%-7%. Adjusted operating profit is projected to be $2.40B-$2.45B, and adjusted free cash flow is expected to be $1.5B-$1.6B.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:19 am

TMHC

Taylor Morrison Home (NYSE:TMHC) reported Q2 2024 adjusted EPS of $1.97, beating the $1.90 estimate. Sales were $1.991 billion, surpassing the $1.839 billion estimate. Despite beating estimates, both EPS and sales were down compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:16 am

GOOG

GOOGL

Alphabet shares are trading lower following Q2 earnings.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:15 am

PERF

Perfect Corp (NYSE:PERF) reported a 9.6% increase in Q2 revenue to $13.9 million, driven by growth in AI- and AR-cloud solutions and mobile app subscriptions. Gross profit rose by 7.8% to $11.0 million, though gross margin slightly decreased due to higher third-party payment processing fees. Net income was $0.8 million, a significant improvement from a net loss of $0.2 million last year. The company saw a record high in YouCam app subscribers, growing by 18.3% year-over-year. Despite a slight decrease in key customers, the cumulative customer base expanded. PERF shares closed 1.85% higher at $2.20.

Portfolio Pulse from Anusuya Lahiri

July 24, 2024 | 10:15 am