Streetbeat News

Earnings

EQBK

Equity Bancshares (NASDAQ:EQBK) reported a Q4 loss of $(1.84) per share, slightly better than the estimated $(1.88) loss. However, this represents a significant decrease from the $0.72 earnings per share in the same quarter last year. Quarterly sales were $(3.95 million), far below the expected $29.49 million, and a sharp decline from the previous year's $50.36 million.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:36 pm

PRSO

Peraso Technologies Inc. reported estimated Q4 revenue of $1.6M-$1.9M, below the expected $3.2M, and FY23 revenue of $13.6M-$13.8M, under the $15.12M estimate. The company's cash position improved by $0.9M in Q4 due to proceeds from the end-of-life of its memory products.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:35 pm

T

TMUS

VZ

Analysts from Keybanc, Oppenheimer, Raymond James, and Morgan Stanley have updated their outlook on Verizon Communications Inc (VZ) following its Q4 results and 2024 guidance. Keybanc raised its price target to $46, noting mixed Q4 results but encouraging guidance. Oppenheimer increased its price target to $48, highlighting strong momentum and positive outlook for 2024. Raymond James maintained a $46 price target, emphasizing Verizon's defensive nature and total return potential. Morgan Stanley also maintained an Overweight rating with a $44 price target, pointing to a significant beat on postpaid phone adds and positive revenue trends. The analysts' views suggest a positive impact on Verizon's stock, with a neutral to positive outlook for AT&T (T) and neutral for T-Mobile US (TMUS). Verizon's shares closed lower by 2.25% at $41.28.

Portfolio Pulse from Anusuya Lahiri

January 24, 2024 | 10:31 pm

CVBF

CVB Financial Corp. reported a Q4 adjusted EPS of $0.39, surpassing the estimated $0.38. This indicates a positive performance compared to market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:23 pm

CVBF

CVB Financial (NASDAQ:CVBF) reported a decrease in Q4 EPS to $0.35 from $0.47 in the prior year, a 25.53% drop. However, sales of $138.52M exceeded estimates of $123.61M by 12.06%, despite being 7.57% lower than the previous year's $149.86M.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:20 pm

NG

Novagold Resources (AMEX:NG) reported a narrower quarterly loss of $(0.03) per share in Q4, improving from a loss of $(0.04) per share in the same quarter of the previous year, marking a 25% year-over-year improvement.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:14 pm

TOWN

Towne Bank (NASDAQ:TOWN) reported Q4 adjusted EPS of $0.42, missing the consensus estimate of $0.46, and sales of $155.55M, also below the expected $164.67M. Compared to last year, EPS decreased by 35.38% and sales by 11.27%.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:11 pm

PKG

Packaging Corporation of America (PKG) has provided an earnings guidance for Q1, expecting earnings per share (EPS) to be $1.54.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:06 pm

STX

Seagate Technology Holdings PLC (NASDAQ:STX) reported Q2 earnings of $0.12 per share, beating analyst expectations of a $0.06 loss per share. Revenue was $1.56 billion, slightly above the $1.55 billion forecast but down 17.33% from last year's $1.89 billion. The company saw $169 million in operating cash flow and $99 million in free cash flow. For Q3, Seagate expects EPS between $0.05 and $0.45, with revenue projections of $1.5 to $1.8 billion, compared to an estimated $1.64 billion. After the earnings release, STX shares experienced volatility, with a slight decrease of 0.30% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 24, 2024 | 10:01 pm

PKG

Packaging Corp of America (NYSE:PKG) exceeded analyst expectations for Q4 with an adjusted EPS of $2.13, surpassing the $1.83 estimate, and sales of $1.94B, beating the $1.91B estimate. However, these figures represent a decrease from the previous year, with earnings down 9.36% and sales down 2.07%.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:00 pm