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Earnings

VLRS

Volaris reported a decrease in ASM capacity by 13.7% YoY in February 2024, attributed to Pratt & Whitney engine inspections causing aircraft groundings. RPMs fell by 10.9%, while the load factor increased to 85.9%. Passenger numbers dropped by 15.2% to 2.1 million. Domestic RPMs in Mexico decreased by 21.5%, but international RPMs rose by 13.2%.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:46 am

ARMN

Aris Mining Corporation (ARMN) reported a decrease in Q4 adjusted EPS to $0.09 from $0.11 QoQ and a drop in adjusted EBITDA to $39.65M from $41.56M QoQ. The company's gold production for Q4 was 61,052 ounces, contributing to a total of 226,151 ounces for FY 2023. The Segovia Operations AISC/oz was $1,264 for Q4 and $1,173 for FY 2023. Net earnings for Q4 were a loss of $5.9M, or $0.04 per share, while FY 2023 saw net earnings of $11.4M, or $0.08 per share. Adjusted earnings for FY 2023 were $52.2M, or $0.38 per share.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:40 am

CIEN

Ciena Corporation (NYSE:CIEN) is anticipated to report lower earnings for Q1, with expectations set at 48 cents per share compared to 64 cents in the previous year. Revenue is projected at $1.02 billion. Despite this, analysts have recently increased their price targets for CIEN, reflecting a positive outlook on the stock. Notably, JP Morgan, Needham, Evercore ISI Group, B. Riley Securities, and Barclays have all raised their price targets, citing various reasons for their optimism.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 6:20 am

TSLA

Tesla CEO Elon Musk stated that retrofitting the full self-driving (FSD) software on older cars from rival automakers is not practical due to the extensive changes required, though new cars can integrate the software. Despite Tesla's willingness to license FSD, no agreements with rivals have been reached, with Musk suggesting skepticism about FSD's viability among competitors. Tesla's Q4 revenue was $25,167 million, a 3% increase year-on-year, impacted by lower FSD revenue due to its wide release in North America.

Portfolio Pulse from Anan Ashraf

March 07, 2024 | 6:19 am

GWRS

Global Water Resources (GWRS) reported Q4 2023 earnings of $0.050 per share, surpassing the $0.040 estimate by 25%. Quarterly sales reached $12.368M, exceeding the $12.000M estimate by 3.07% and marking an 11.43% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:16 am

FSM

Fortuna Silver Mines (NYSE:FSM) reported Q4 2023 adjusted EPS of $0.070, missing the $0.100 estimate, but sales of $265.314M exceeded the $261.000M estimate, marking a 61.09% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:11 am

IDT

IDT reported a Q2 EPS of $0.67, up 8.06% from $0.62 YoY, but sales decreased 5.68% to $296.10M from $313.94M YoY.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:03 am

VET

Vermilion Energy (NYSE:VET) reported Q4 GAAP EPS of $0.96, surpassing the $0.52 estimate, but its sales of $384.25M fell short of the $440.69M estimate. This represents a 46.67% decrease in earnings and a 38.75% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:02 am

APM

AVGO

INO

TSLA

VSCO

On Wednesday, U.S. indices saw positive movement with the Dow Jones, S&P 500, and Nasdaq all closing higher. Inovio Pharmaceuticals, Victoria's Secret, Broadcom, Aptorum Group, and Tesla were among the top stocks on investors' radars. Inovio outperformed earnings expectations, Victoria's Secret missed revenue forecasts but announced a share repurchase program, Broadcom is anticipated to report strong earnings, Aptorum Group announced a merger with YOOV Group, and Tesla faced challenges as per Morgan Stanley's analysis.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 2:18 am

MRMD

MariMed Inc (OTCQX:MRMD), a multi-state cannabis operator, reported a revenue increase to $38.9 million in Q4 2023, up from $35.8 million in the same period last year. However, the company experienced a net loss of $10.1 million in the quarter, compared to a net income of $4.7 million in the previous year, primarily due to a $10 million loss on the extinguishment of debt. For the full year, revenue was $148 million, up from $134 million in 2022, but net loss increased to $16 million from a net income of $13.6 million in 2022. CEO Jon Levine highlighted the company's sixth consecutive year of double-digit revenue growth and positive adjusted EBITDA for the fourth year. MariMed anticipates 5% to 7% revenue growth in 2024, not including potential new revenue from operations in Ohio, Missouri, Maryland, or acquisitions.

Portfolio Pulse from Maureen Meehan

March 07, 2024 | 2:09 am