Streetbeat News

Earnings

AVTR

Avantor Inc (NYSE:AVTR) reported a Q1 net sales decrease of 5.6% YoY to $1.68 billion, with an adjusted EPS of $0.22, surpassing consensus estimates. The company maintained its 2024 revenue guidance of $6.85 billion-$7.06 billion and adjusted EPS forecast of 96 cents to $1.04. Despite a decline in Laboratory Solutions and Bioscience Production sales, Avantor's guidance is deemed conservative and achievable by William Blair, who rates the stock as Market Perform. AVTR shares dropped 3.7% to $24.20.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 2:51 pm

OIS

Oil States International shares are trading lower following the announcement of worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:49 pm

GOOGL

SKX

SLCA

Skechers U.S.A., Inc. reported better-than-expected first-quarter FY24 earnings, leading to a 16% stock price increase. Other companies like Universal Logistics Holdings, Exponent, Inc., and Snap Inc. also reported strong financial results, contributing to their stock gains. Notably, U.S. Silica Holdings is being acquired by Apollo affiliates, and Alphabet Inc. announced a $70 billion share repurchase program and its first-ever quarterly dividend.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 2:45 pm

MTX

Minerals Technologies (MTX) shares rose following the announcement of Q1 adjusted EPS that exceeded expectations, despite missing sales forecasts.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:45 pm

MTX

Minerals Technologies (MTX) shares are trading higher following the announcement of mixed Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:44 pm

NVDA

NVIDIA shares are trading higher, potentially due to strong earnings reported by Microsoft and an increase in capital expenditure outlook by Meta, suggesting a positive market sentiment towards tech stocks.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:42 pm

CHTR

RSPC

YALL

Charter Communications Inc (NASDAQ:CHTR) reported a slight revenue growth of 0.2% in Q1 2024 to $13.68 billion, missing expectations. EPS was $7.55, below the consensus of $7.92. The company saw a drop in residential internet and video customers but grew in internet, mobile service, and commercial sectors. Adjusted EBITDA margin increased to 40.2%, though free cash flow decreased due to higher capital expenditures. Charter reiterated its 2024 capex outlook and maintains its revenue and EPS consensus. CHTR stock has fallen over 19% in the past 12 months.

Portfolio Pulse from Anusuya Lahiri

April 26, 2024 | 2:41 pm

AN

AutoNation reported Q1 2024 earnings of $4.49 per share, surpassing the $4.31 estimate, but its sales of $6.486B fell short of the $6.499B estimate, marking a 1.36% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:41 pm

EW

Edwards Lifesciences' stock traded lower following the announcement of its Q1 financial results and the issuance of its guidance.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:32 pm

CRAK

IEO

PSX

Phillips 66 (NYSE:PSX) shares fell after reporting Q1 FY24 results with revenue beating expectations at $36.436 billion but adjusted EPS missing at $1.90 versus the $2.17 consensus. The company saw mixed performance across its segments, with a notable decline in the Refining segment's adjusted pre-tax income to $228 million from $797 million in the previous quarter. Operating cash flow was $1.2 billion, excluding working capital impacts. Phillips 66 also continued its shareholder distributions, projecting $13 billion to $15 billion by 2024, and achieved $1.2 billion in run-rate cost and capital reductions.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 2:32 pm