Streetbeat News

Earnings

CHX

SLB

Schlumberger Limited (NYSE:SLB) is anticipated to report higher Q1 earnings with an expected EPS of 75 cents, up from 63 cents year-over-year, and revenue of $8.69 billion, up from $7.74 billion. The company also announced an all-stock acquisition of ChampionX (NYSE:CHX), with CHX shareholders receiving 0.735 shares of SLB for each CHX share. Analysts have maintained positive ratings on SLB, with price targets ranging from $70 to $77.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 6:02 am

CMLS

Cumulus Media announced preliminary Q1 results for the period ending March 31, 2024, expecting net revenue of $199M-$201M, a net loss of $(14.9)M-$(13.4)M, and Adjusted EBITDA of $7.65M-$9.15M. The company plans to release detailed Q1 2024 results on May 3rd, followed by a conference call.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 5:32 am

AAPL

NVDA

TSM

TSMC, the world's largest chipmaker, has revised its growth forecast for the chip market to 10%, down from 'more than 10%', due to a potential decline in automotive chip demand. Despite this, TSMC projects a 30% increase in Q2 sales, driven by strong demand for AI-related chips. TSMC's significant role in manufacturing for NVIDIA and Apple positions it at the forefront of AI development. However, TSMC's stock dropped 6% following the adjusted outlook. This comes amid global challenges, including a major earthquake in Taiwan and geopolitical tensions, but also growing demand for AI chips.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 5:00 am

LYTS

LSI Industries has acquired EMI Industries for $50M in cash, aiming to boost net sales by over 60% by 2028, with acquisitions like EMI contributing to half of this growth. The acquisition is expected to be immediately accretive to LSI's adjusted EPS.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 9:57 pm

BANF

BancFirst reported Q1 sales of $151.00M, surpassing the estimated $147.54M, indicating a positive performance against market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 9:46 pm

AA

FMST

NEM

NUE

SCCO

Alcoa Corp reported Q1 losses but exceeded revenue expectations with alumina segment growth and stable aluminum production. Newmont Corporation highlighted 20 years of sustainability efforts, showing progress in safety, inclusivity, and environmental impact. Foremost Lithium announced participation in the Planet MicroCap Showcase, indicating potential investor engagement. Nucor Corp appointed a new EVP of Talent and HR, signaling a focus on talent development. Scotiabank raised its price target for Southern Copper, reflecting a positive outlook.

Portfolio Pulse from austin@walkonholdings.com

April 18, 2024 | 9:38 pm

BANF

BancFirst (NASDAQ:BANF) reported Q1 earnings of $1.50 per share, surpassing the analyst consensus estimate of $1.39 by 7.91%. However, this represents a 12.79% decrease from the $1.72 per share reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 9:36 pm

WAL

Western Alliance Bancorporation (NYSE:WAL) reported Q1 earnings of $1.60 per share, missing estimates by 3.61%, and a 30.43% decrease from last year. However, quarterly sales of $728.8 million exceeded estimates by 4.56%, marking a 32.05% increase year-over-year. The company saw a return on tangible common equity of 14.5% and a tangible book value per share increase of 13.8% to $47.30. CEO Kenneth A. Vecchione highlighted strong results, significant deposit growth, and a reduced loan-to-deposit ratio.

Portfolio Pulse from Erica Kollmann

April 18, 2024 | 9:10 pm

CWBC

Community West Bancshares (CWBC) reported Q1 earnings of $0.31 per share, missing the consensus estimate of $0.45 by 31.11%. This represents a 14.81% increase over the previous year's earnings of $0.27 per share.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 9:08 pm

OCFC

OceanFirst Financial (NASDAQ:OCFC) reported Q1 adjusted earnings of $0.44 per share, surpassing the $0.41 estimate, but saw a 20% decrease from last year's $0.55. Sales of $86.22M fell short of the $87.40M estimate and dropped 12.73% from $98.80M a year ago.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:55 pm