Streetbeat News

Earnings

AES

AES Corp reported Q4 FY23 earnings with an adjusted EPS of $0.73, surpassing the consensus of $0.67, but missed revenue expectations with $2.97 billion against a forecast of $3.36 billion. The company saw a rise in non-regulated revenue and a decline in regulated revenue, with adjusted EBITDA also decreasing. AES exceeded its strategic objectives, including doubling renewables construction and securing significant asset sale proceeds. The company has a strong backlog and expects growth driven by renewables, U.S. utilities, and improved margins in Chile. AES raised its growth targets for adjusted EPS and EBITDA through 2027 and anticipates a dividend growth post-2024.

Portfolio Pulse from Lekha Gupta

February 27, 2024 | 10:52 am

LCID

Stifel lowered its price target on Lucid Group Inc (NASDAQ:LCID) from $5 to $4 but maintained a 'hold' rating, citing 'best-in-class' technology and potential positives like a lower-priced Lucid Air sedan and focus on cost control. Despite these positives and plans for the Gravity SUV production, concerns over cash burn prevent a 'buy' rating. Lucid reported a Q4 revenue miss and a loss of 29 cents per share, with total costs of $894 million. The company aims to produce 9,000 vehicles this year, up from 8,428 in 2023. Lucid shares closed up 4.3% on Monday and rose 1.59% in Tuesday's premarket, but are down 24.1% year-to-date.

Portfolio Pulse from Anan Ashraf

February 27, 2024 | 10:36 am

BNS

Scotiabank (BNS) reported a Q1 2024 return on equity of 11.8%, an increase from 9.8% the previous year. Additionally, the bank's common equity Tier 1 capital ratio rose to 12.9% from 11.5% last year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:35 am

TILE

Interface forecasts its FY24 net sales to be between $1.26 billion and $1.28 billion, aligning with the consensus estimate of $1.26 billion.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:35 am

TILE

Interface expects its Q1 net sales to be between $280M-$290M, which is in line with the estimated $286.9M.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:34 am

BNS

Bank of Nova Scotia (NYSE:BNS) reported Q1 adjusted EPS of $1.24, surpassing the $1.21 estimate, and sales of $6.20B, exceeding the $6.12B estimate. This represents a 7.31% decrease in EPS and a 4.29% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:33 am

TILE

Interface (NASDAQ:TILE) reported Q4 adjusted EPS of $0.41, surpassing the $0.23 estimate, and sales of $325.10M, exceeding the $321.80M estimate. This represents a 32.26% increase in EPS and a 3.12% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:31 am

AAN

CARG

FIVN

GOTU

HES

LUNR

NYXH

WDAY

Unity Software Inc. reported mixed Q4 results, with a revenue increase of 35% to $609 million but a larger-than-expected loss of 66 cents per share. The company's shares fell 17.7% in pre-market trading. Other stocks also moved lower in pre-market trading, including The Aaron's Company, Intuitive Machines, CarGurus, Nyxoah S.A., Five9, Workday, Gaotu Techedu, and Hess Corporation, due to various reasons such as missed estimates, mission failures, and financial results announcements.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 10:06 am

AEP

CBRL

GOTU

PNW

QTRX

Numerous companies are scheduled to report their earnings on February 27, 2024, covering a wide range of industries from technology and healthcare to energy and financial services. The report includes a mix of expected quarterly losses and earnings, highlighting the diverse financial health and performance outlooks within the corporate landscape.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 10:01 am

SNN

Smith & Nephew reported a slight increase in FY adjusted EPS to $0.83 from $0.82 YoY and a 6.4% increase in sales to $5.55B from $5.21B YoY.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 9:59 am