Streetbeat News

Earnings

FLNT

Fluent reported its Q4 adjusted EPS at $0.00, surpassing the estimated $(0.04), but its sales of $72.80M fell short of the $74.09M estimate.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 5:27 pm

BBY

DAVA

ENVB

KA

LPSN

SCTL

VERX

U.S. stocks traded mixed with the Nasdaq Composite up by 100 points. Best Buy reported better-than-expected Q4 earnings, beating estimates with an EPS of $2.72 and sales of $14.646 billion. The company also increased its quarterly dividend by 2% and provided FY25 guidance. Societal CDMO, Enveric Biosciences, and Vertex saw significant stock price increases, while LivePerson, Endava, and Kineta experienced notable declines. Oil and gold prices rose, and economic indicators showed mixed results globally.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 5:24 pm

PSTG

Pure Storage, Inc. (NYSE:PSTG) shares rose after reporting Q4 results surpassing expectations and providing optimistic Q1 revenue guidance. The company announced adjusted earnings of 50 cents per share and sales of $789.8 million, both exceeding consensus estimates. Subscription services revenue increased by 24% year-over-year, and the operating margin was 20%. For Q1, Pure Storage anticipates revenue of $680 million, above the expected $667.299 million. Additionally, the company expanded its share repurchase program by $250 million. Analysts from JP Morgan, Barclays, UBS, and B of A Securities raised their price targets on PSTG following these results.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 5:19 pm

HGV

Hilton Grand Vacations Inc. (NYSE:HGV) shares fell after reporting Q4 FY23 results with sales of $1.02 billion, in line with consensus but affected by net deferrals. Real estate sales and financing revenues decreased slightly, while adjusted EBITDA and EPS rose. The company also announced share repurchases and expects higher 2024 Adjusted EBITDA, including Bluegreen Vacations operations.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 5:15 pm

AMRN

Amarin Corporation Plc (NASDAQ:AMRN) reported Q4 2023 revenues of $74.71 million, a 17% decrease year-over-year, primarily due to lower VASCEPA sales in the U.S. due to generic competition. Despite this, revenues beat the consensus estimate of $63.81 million. The company nearly broke even, outperforming the expected loss. Amarin has initiated a share repurchase program of up to $50 million and is on track to save $40 million annually from a reduction in force announced in July 2023. Shares fell 17.8% to $1.09.

Portfolio Pulse from Vandana Singh

February 29, 2024 | 5:12 pm

PARA

PARAA

Paramount Global's stock is trading higher following the announcement of mixed results for the fourth quarter. The company's performance has attracted investor attention, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 5:01 pm

BYND

Financial analysis reveals a bullish trend in Beyond Meat's (NASDAQ:BYND) options activity, with 60% of traders showing bullish sentiment. The analysis highlighted 10 unusual trades, with a focus on a price band between $7.0 and $40.0. Beyond Meat, known for its plant-based meats, has seen its stock price decrease by -3.36%, currently trading at $9.5. The company's international revenue accounted for 31% of 2021 sales, with expectations of food-service sales recovering to 50% due to new deals with McDonald's and Yum Brands.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:01 pm

CELH

Celsius Holdings, Inc. (NASDAQ:CELH) shares surged after reporting Q4 earnings of $0.17 per share, surpassing the consensus of $0.15, and revenues of $347.43 million, beating estimates of $331.49 million. Revenues increased 95% YoY, with North American revenue up 97% and international revenue up 68%. Adjusted EBITDA rose 387% to $65.2 million, and gross profit increased 110% YoY to $166 million. Gross margin expanded to 47.8%, with a 340 basis point improvement attributed to efficiencies. Celsius ended the year with $756 million in cash.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 4:59 pm

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