Streetbeat News

Earnings

UTZ

Utz Brands Inc reported Q3 FY23 sales growth of 2.5% YoY to $371.85 million, beating the consensus of $370.46 million. Organic net sales increased 3.1% YoY. Adjusted gross profit grew 1.9% YoY to $135.1 million. Adjusted EBITDA increased 9.2% YoY to $52.1 million. The company expects total net sales growth of 2% to 3% and Organic Net Sales growth of 3% to 4%. UTZ shares were trading higher by 5.1% at $12.75.

Portfolio Pulse from Nabaparna Bhattacharya

November 09, 2023 | 3:57 pm

JRVR

James River Group Holdings' shares are trading lower due to worse-than-expected Q3 revenue results and multiple firms downgrading the stock and lowering their price targets.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:56 pm

BIIB

Biogen shares are trading lower following the company's Q3 financial results and weak FY23 guidance. Wedbush has maintained a Neutral rating on the stock and lowered its price target from $266 to $239.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:47 pm

ATO

Atmos Energy reported better-than-expected Q3 EPS results and issued FY24 EPS guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:46 pm

CLMT

Calumet Specialty Products Partners LP (NASDAQ:CLMT) reported a Q3 FY23 sales decline of 1.3% YoY to $1.15 billion, beating the consensus of $1.04 billion. Net income per unit was $1.26, surpassing the consensus of 26 cents. Adjusted EBITDA was $75.5 million, down from $127 million a year ago. The company faced operational issues in Shreveport and Montana, which cost over $50 million of lost profit opportunity. Despite this, CLMT shares are trading higher by 18.15% at $15.36 premarket on Thursday.

Portfolio Pulse from Akanksha Bakshi

November 09, 2023 | 3:42 pm

MFC

Manulife Financial reported its Q3 adjusted EPS results, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:41 pm

CTVA

Corteva Inc. reported lower than expected Q3 revenue results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:40 pm

BDX

Becton, Dickinson and Company (BDX) reported Q4 adjusted EPS of $3.42, slightly missing the consensus of $3.43. Sales were $5.09 billion, up 6.8% Y/Y, beating the consensus of $5.02 billion. The company declared a quarterly dividend of $0.95 per share, up 4.4% from the previous quarter. However, BDX shares are down 8.24% after the company issued lower than expected FY24 revenue and EPS guidance.

Portfolio Pulse from Vandana Singh

November 09, 2023 | 3:39 pm

COMM

CommScope Holding Company, Inc. (NASDAQ:COMM) reported Q3 net sales of $1.6 billion, missing the street view of $1.98 billion, a 33% Y/Y decline. Adjusted diluted EPS was $0.13, missing the analyst consensus of 30 cents. The company also reported a non-GAAP adjusted EBITDA of $248.6 million, down 28.5% Y/Y. Due to macroeconomic factors and reduced demand, the company has cut its Core adjusted EBITDA forecast to a range of $1.00 to $1.05 billion.

Portfolio Pulse from Nabaparna Bhattacharya

November 09, 2023 | 3:34 pm

CIO

City Office REIT Inc (NYSE:CIO) reported Q3 FY23 rental and other revenues of $44.21 million, beating the consensus of $43.97 million. Core FFO per share was $0.34, down from $0.39 a year ago. Same Store Cash NOI increased 2.2% Y/Y. Total leasing activity was around 119,000 square feet in Q3. Net operating income was $26.6 million. As of September 30, 2023, cash and cash equivalents stood at $52.3 million, and total principal outstanding debt was around $674.3 million. CIO reiterated the outlook for FY23.

Portfolio Pulse from Lekha Gupta

November 09, 2023 | 3:34 pm