Streetbeat News

Earnings

SYY

During a conference call, a Sysco Corp executive mentioned that consumers are showing signs of fatigue regarding the continuous increases in menu prices. This observation could indicate potential challenges for the food service industry, particularly in maintaining volume amid price hikes.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:18 pm

RIG

Transocean's shares dropped following the announcement of Q1 sales results that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:15 pm

SBAC

SBA Communications shares are trading lower due to worse-than-expected Q1 results.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:13 pm

ADM

ADM executive forecasts Q2 2024 global soybean crush margin to be at the lower range, but expects improvement in Brazil's crush margins. The company anticipates strong exports to Mexico benefiting its Carbohydrate Solutions Unit and maintains a positive outlook on demand for flavors and plant-based proteins.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:09 pm

ADM

ADM forecasts a lower Q2 2024 operating profit for its Nutrition Unit compared to the previous year, but expects an increase for the full year. The AG Services and Oilseeds Unit is projected to have a 'significantly lower' operating profit in Q2 2024 and a decrease for FY24. The decline in the Nutrition Unit's Q1 2024 operating profit was attributed to headwinds in the Specialty Ingredients Business.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:09 pm

ARCB

ArcBest shares are trading lower due to worse-than-expected Q1 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:09 pm

ARCB

ArcBest Corp (NASDAQ:ARCB) reported a 6.30% decline in Q1 fiscal 2024 revenue to $1.036 billion, slightly above consensus. Adjusted EPS fell to $1.34 from $1.58, missing expectations. The quarter included a $21.6 million impairment charge from its investment in Phantom Auto. Operating income rose 6% Y/Y, but margins contracted. Segment-wise, Asset-Based revenue dropped 3.8% and Asset-Light by 9.5%. Adjusted EBITDA decreased by 6.11% Y/Y. Operating cash flow and cash reserves also declined. ARCB announced a $0.12 quarterly dividend. Shares fell 14.5% to $110.74.

Portfolio Pulse from Akanksha Bakshi

April 30, 2024 | 3:08 pm

NXPI

NXP Semiconductors NV (NASDAQ:NXPI) reported higher-than-expected Q1 earnings, leading to a share price increase. Analysts from KeyBanc Capital Markets, Cantor Fitzgerald, Mizuho Securities, Stifel, and Oppenheimer provided insights, highlighting solid results, a stable outlook despite cyclical fears in the Automotive/Industrial sectors, and expectations of gross margin expansion. The company's guidance suggests flat revenue for Q2 but potential growth in the second half of the year, especially in the industrial sector, while automotive might remain a drag.

Portfolio Pulse from Priya Nigam

April 30, 2024 | 3:06 pm

ATI

ATI shares are trading higher following the announcement of their Q1 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:05 pm

TAP

Molson Coors Beverage shares are trading lower despite reporting earnings that exceeded expectations for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:05 pm