Streetbeat News

Earnings

BB

BlackBerry has reaffirmed its total company revenue forecast to be between $150M-$159M, aligning with the estimated $153.85M. Additionally, the company expects its Cybersecurity Annual Recurring Revenue (ARR) to stabilize in the current quarter.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:54 pm

BB

BlackBerry announced further cost-reduction actions within its Cybersecurity business, including headcount reductions expected to save $27 million annually and other actions for an additional $8 million in savings. Despite a seasonal low in cash for the first fiscal quarter, BlackBerry aims to maintain a positive net cash position throughout the fiscal year and achieve operating cash flow positivity by Q4 FY25.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:51 pm

SBLK

Star Bulk Carriers (NASDAQ:SBLK) reported Q4 adjusted earnings of $0.73 per share, meeting analyst estimates, and sales of $263.46M, exceeding estimates of $203.01M. This represents an 18.89% decrease in earnings and a 10.63% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:33 pm

HPP

Hudson Pacific Properties (NYSE:HPP) reported a Q4 FFO Per Share Excluding Specified Items of $0.14, missing the $0.15 estimate, and sales of $223.42M, missing the $223.93M estimate. This represents a 71.43% decrease in FFO per share and a 17.23% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:03 pm

CGC

CRLBF

GTBIF

Piper Sandler's analyst Michael S. Lavery assigned Canopy Growth Corporation (CGC) an 'Underweight' rating, citing financial pressures and strategic challenges despite revenue outperformance in Q3 2024. CGC's focus on the Canadian cannabis market and strategic divestitures, like This Works, aim to stabilize finances. However, the Canopy USA deal's strategic benefits remain uncertain, facing competition from MSOs like Green Thumb Industries, Cresco Labs, and Curaleaf Holdings. Piper Sandler adjusted CGC's fiscal 2024 sales estimate downwards with a new price target of US$3.00.

Portfolio Pulse from Nicolás Jose Rodriguez

February 12, 2024 | 10:02 pm

ICMB

Investcorp Credit Management BDC, Inc. (ICMB) reported a Q2 net investment income (NII) of $0.14 per share, surpassing the estimated $0.13. However, its total investment income of $6.24M fell short of the $6.42M estimate.

Portfolio Pulse from Happy Mohamed

February 12, 2024 | 9:58 pm

ASPN

Aspen Aerogels (ASPN) reported Q4 2023 earnings with a GAAP EPS of $(0.01), surpassing the $(0.12) estimate. Sales reached $84.22M, exceeding the $80.86M forecast, marking a 41.28% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 9:52 pm

EQC

Equity Commonwealth (NYSE:EQC) reported Q4 2023 FFO of $0.26 per share, meeting analyst estimates, with sales of $15.15M surpassing the $8.48M forecast by 78.63%. However, this represents a 4.06% decrease from the previous year's sales of $15.79M.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 9:51 pm

MEDP

Medpace Holdings forecasts its FY24 EPS to be between $10.18 and $10.87, surpassing the estimated $9.96. Revenue is expected to be between $2.15B and $2.2B, slightly below the $2.18B estimate. The company anticipates 14.0% to 16.7% revenue growth over 2023, with GAAP net income between $326.0M and $348.0M, and EBITDA between $400.0M and $430.0M. These projections are based on a 16.0% to 17.0% tax rate, $18.4M in interest income, and 32.0M diluted shares, excluding potential share repurchases post-2023.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 9:51 pm

MEDP

Medpace Holdings (MEDP) reported Q4 earnings of $2.46 per share, surpassing the $2.22 estimate, marking a 16.04% increase from last year. However, their Q4 sales of $498.40M slightly missed the $498.71M estimate, despite being a 26.47% increase from the previous year.

Portfolio Pulse from Happy Mohamed

February 12, 2024 | 9:49 pm