Streetbeat News

Earnings

TTSH

Tile Shop Holdings Inc (NASDAQ:TTSH) reported a Q4 fiscal 2023 sales decline of 3.4% YoY to $84.46 million, missing expectations. Comparable store sales fell 3.2%, with a slight offset from higher average ticket values. Gross margin increased slightly to 64.7%, but operating margin dropped to 1.7%. Adjusted EBITDA decreased by 25.9% to $6.62 million. EPS was $0.01, aligning with consensus. The company repaid $45.4 million in borrowings and ended the year with $8.6 million in cash. Operating activities generated $62.06 million in net cash, significantly up from the previous year. Shares dropped 0.50% to $6.91.

Portfolio Pulse from Akanksha Bakshi

February 29, 2024 | 4:58 pm

BTSG

BrightSpring Health Services shares are trading lower following the release of their Q4 earnings.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:58 pm

AMZN

CRM

Salesforce Inc (CRM) exceeded fiscal Q4 estimates with an 11% YoY revenue increase to $9.29 billion but provided weak fiscal 2025 revenue guidance. The company announced a strategic partnership with Amazon.com Inc (AMZN), selling its products on Amazon's cloud marketplace, which is expected to enhance its AI and cloud capabilities. Despite a cautious revenue outlook due to foreign-exchange pressure and a weak professional services sector, Salesforce is optimistic about AI's future contributions to its financials, highlighted by the introduction of Einstein Copilot.

Portfolio Pulse from Upwallstreet

February 29, 2024 | 4:57 pm

BCO

SAEF

Brink's Company (NYSE:BCO) reported Q4 fiscal 2023 earnings with a 5% year-on-year sales growth to $1.246 billion, slightly missing analyst estimates. Adjusted EPS of $2.76 exceeded expectations. Revenue varied across regions, with North America seeing a decrease, while Latin America and Europe experienced growth. Adjusted operating profit and EBITDA saw year-on-year increases. The company has set optimistic targets for FY24, expecting mid-single digit revenue growth and adjusted EPS of $7.30 - $8.00. The Schwab Ariel ESG ETF (NYSE:SAEF), with 3% exposure to Brink's, gained about 5% last month. BCO shares were up 2.5% following the announcement.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 4:56 pm

MLCO

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) shares fell after reporting Q4 FY23 results with sales growth of 224% Y/Y to $1.09 billion, missing analyst estimates of $1.128 billion. The growth was attributed to improved performance in gaming and non-gaming operations after COVID-19 restrictions were relaxed in Macau and the opening of Studio City Phase 2. Revenue from City of Dreams and Studio City showed significant increases, while adjusted Property EBITDA turned positive. The company's adjusted loss per ADS of $0.127 beat analyst estimates.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 4:48 pm

AI

IWM

SPY

The Fed's preferred inflation gauge, PCE, rose significantly, leading to a positive reaction in the stock market, particularly in AI stocks like C3.ai Inc, and Bitcoin. The PCE data showed deflation in goods but inflation in services. Aggressive buying was also seen in small caps, as indicated by the iShares Russell 2000 ETF. The article also discusses global economic influences, including Bank of Japan's interest rate signals and Putin's nuclear threats. Positive money flows were noted in major tech stocks, while Amazon showed negative flows. Gold, oil, and Bitcoin saw aggressive buying, with Bitcoin nearing $64,000 again.

Portfolio Pulse from The Arora Report

February 29, 2024 | 4:46 pm

FREY

FREYR Battery's stock is trading lower after the company reported its Q4 earnings, indicating a negative market reaction to the financial results.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:44 pm

OPRA

Opera Limited (NASDAQ:OPRA) reported a 17% year-on-year increase in Q4 fiscal 2023 revenue to $113.00 million, surpassing the consensus of $112.2 million. EPS per ADS was $1.38, beating the consensus of $0.23, leading to a stock price gain. Monthly active users reached 313 million, with the Opera GX browser user base at 27.8 million, up 7% Q/Q. Search revenue grew by 15% Y/Y to $44.7 million, and advertising revenue increased by 20% Y/Y to $67.8 million. Operating expenses rose by 10% Y/Y, but the adjusted EBITDA margin improved by 90 bps to 24.6%. Opera held $93.9 million in cash and equivalents and generated $25.3 million in operating cash flow. The company expects fiscal 2024 revenue of $450 million to $465 million. OPRA shares were up 2.04% at $11.86.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 4:43 pm

FRO

Frontline Plc (NYSE:FRO) exceeded Q4 revenue estimates with $415 million, a 21.8% decline YoY but above the $270.06 million consensus. Despite lower net operating income and adjusted EPS, strategic sales of older vessels and refinancing efforts bolstered its financial position, generating approximately $646 million. The company anticipates lower spot TCEs for Q1 2024 due to ballast days. A dividend of $0.37 per share was declared, with shares trading down 1.01% at $22.516.

Portfolio Pulse from Akanksha Bakshi

February 29, 2024 | 4:42 pm

BIRK

Birkenstock's stock price has declined due to mixed results in their Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:41 pm