Streetbeat News

Earnings

MCB

Metropolitan Bank Holding (NYSE:MCB) reported Q1 2024 earnings of $1.46 per share, surpassing the $1.30 estimate, with sales of $66.713M also beating the $64.561M estimate, marking a 1.84% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:31 pm

BHB

Bar Harbor Bankshares (AMEX:BHB) reported Q1 adjusted earnings of $0.66 per share, surpassing the $0.64 estimate, but saw a 23.26% decrease from last year's $0.86. Sales of $36.64M fell short of the $37.38M estimate, marking an 8.60% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:30 pm

SFST

Southern First Bancshares (NASDAQ:SFST) reported Q1 earnings of $0.31 per share, missing the consensus estimate of $0.34, and sales of $18.64M, below the $22.26M estimate. This represents a decrease in both earnings and sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:28 pm

WLGS

Wang & Lee Group shares are trading higher following the announcement of improved financial results for FY23, indicating a year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:27 pm

FPH

Five Point Holdings (FPH) reported a significant improvement in Q1 earnings, posting $0.03 EPS, a 142.86% increase from last year's $(0.07). Sales rose 74.27% to $9.94M from $5.70M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:26 pm

INDB

Independent Bank (INDB) reported Q1 2024 adjusted EPS of $1.12, missing the $1.15 estimate, and sales of $167.382M, below the $170.118M estimate. This represents a 10.61% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:22 pm

NFLX

Netflix Inc (NASDAQ:NFLX) reported Q1 earnings with a revenue of $9.37 billion, up 14.8% year-over-year, beating the consensus estimate of $9.275 billion. EPS was $5.28, surpassing the estimate of $4.51. The company added 9.33 million paid subscribers, reaching 269.60 million in total, a 16.0% increase year-over-year. Operating income rose 54% to $2.6 billion. Netflix's ad-supported plan signups increased by 65% quarter-over-quarter, with 40% of new signups choosing this plan. The company highlighted content successes and its audience reach of over half a billion people. Netflix plans to focus on live events and partnerships, like with WWE, and expects Q2 revenue of $9.49 billion and EPS of $4.68. However, it will stop providing guidance on subscriber additions and quarterly membership figures starting fiscal 2025.

Portfolio Pulse from Chris Katje

April 18, 2024 | 8:22 pm

WLGS

Wang & Lee Group (WLGS) reported a fiscal year 2023 EPS of $(0.02), improving from $(0.05) YoY, with revenue rising to $6.83M from $4.17M. The company saw a significant increase in sales and gross profit, particularly in the second half of the year, following the resumption of a major construction project. Cost of revenues and general and administrative expenses also increased, reflecting the company's growth and listing-related costs. Despite these increases, WLGS managed to reduce its net loss to $0.33M for the fiscal year from a $0.60M loss in the previous year. Shareholders' equity significantly improved, turning from a deficit to $5.98M.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:20 pm

DMTK

DermTech plans to maintain laboratory operations while undergoing a strategic review, expecting a one-time restructuring charge of about $1.6 million in Q2 2024. The company is confident in its capacity to process orders for the DermTech Melanoma Test.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:20 pm

DMTK

DermTech announced plans to explore strategic alternatives, including potential acquisitions, mergers, or asset sales, alongside restructuring actions leading to a 56% reduction in its workforce, approximately 100 employees. The company will not host a Q1 2024 earnings call due to these developments.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:18 pm