Streetbeat News

Earnings

MBLY

Mobileye Global Inc (NASDAQ:MBLY) reported Q4 2023 revenue of $637.0 million, a 13% increase YOY but slightly below consensus estimates of $639.8 million. Adjusted EPS was $0.28, beating estimates by $0.01. EyeQ and SuperVision revenue rose to $611 million from $543 million, although the Average System Price decreased. Gross margin improved, but adjusted gross margin fell due to higher EyeQ chip costs. The company has $1.21 billion in cash and equivalents. CEO Prof. Amnon Shashua highlighted $7 billion in design wins and expansion in the vehicle model pipeline. FY24 revenue outlook was reiterated at $1.83 billion – $1.96 billion, below the $2.06 billion estimate. MBLY shares dropped 0.77% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 1:25 pm

CRS

Carpenter Technology anticipates an increase in profitability with projected operating income of $97M-$112M in Q4, following an expected $74M-$79M in Q3.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:07 pm

CARE

Carter Bankshares (NASDAQ:CARE) reported a Q4 EPS loss of $(0.02), significantly missing the analyst consensus estimate of $0.17. This represents a sharp decline from the $0.62 per share earned in the same quarter of the previous year, marking a 103.23% decrease in earnings.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:07 pm

CRS

Carpenter Technology has announced that it expects to make significant progress towards its long-term goal of doubling its fiscal year 2019 operating income by fiscal year 2027. This goal was communicated during the May 2023 Investor Day, and the company is optimistic due to a strong market demand outlook for its specialized solutions portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:06 pm

ADN

AMSC

AREB

CISS

EFSH

GNK

HXL

ISUN

NCNC

RAIL

In Thursday's pre-market session, several industrial stocks showed significant movement. C3is (CISS) saw a 29.7% increase, while American Superconductor (AMSC) rose by 18.46% following their Q3 earnings release. Babcock & Wilcox (BW), Advent Technologies (ADN), American Rebel Holdings (AREB), and noco-noco (NCNC) also experienced gains. Conversely, 1847 Holdings (EFSH), Hexcel (HXL), Genco Shipping & Trading (GNK), iSun (ISUN), FreightCar America (RAIL), and Richtech Robotics (RR) saw their stock prices fall, with Hexcel dropping 10.75% after their Q4 earnings report.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 1:05 pm

LKFN

Lakeland Financial (NASDAQ:LKFN) reported Q4 2023 earnings of $0.98 per share, surpassing the consensus estimate of $0.89 by 10.11%. Sales reached $65.81M, exceeding the $59.98M estimate by 9.71%, despite a 2.30% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:05 pm

IBCP

Independent Bank (NASDAQ:IBCP) reported Q4 earnings of $0.65 per share, missing the consensus estimate of $0.70 by 7.14%. Year-over-year, earnings decreased by 8.45% from $0.71 per share. Quarterly sales were $40.11M, in line with estimates, but marked a 1.21% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:04 pm

HFWA

Heritage Financial (NASDAQ:HFWA) reported Q4 2023 earnings of $0.44 per share, missing the consensus estimate of $0.45. Quarterly sales were $50.72M, falling short of the $62.03M estimate and representing a 27.22% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:04 pm

CRS

Carpenter Technology Corporation (NYSE:CRS) reported Q2 earnings per share (EPS) of $0.85, which was in line with analyst estimates, marking a significant increase from $0.13 per share in the same quarter last year. However, the company's sales of $624.20 million fell short of the expected $657.10 million, a 5.01% miss, though it was a 7.79% increase from the previous year's sales.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:04 pm

LBAI

Lakeland Bancorp (NASDAQ:LBAI) reported Q4 2023 earnings of $0.30 per share, missing the consensus estimate of $0.32, and a 41.18% decrease from the previous year. Sales were $72.09M, also missing the estimate of $73.80M, and down 18.69% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:02 pm