Streetbeat News

Earnings

LITE

Lumentum Holdings (NASDAQ:LITE) reported Q1 earnings of $0.35 per share, beating the analyst consensus estimate of $0.27 by 29.63%. However, this is a 79.29% decrease from the same period last year. The company also reported quarterly sales of $317.60 million, beating the estimate of $312.65 million by 1.58%, but this is a 37.33% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:32 pm

TPB

Turning Point Brands (NYSE:TPB) reported Q3 adjusted earnings of $0.76 per share, beating the analyst consensus estimate of $0.60 by 26.67%. However, the company's quarterly sales of $101.72 million missed the analyst consensus estimate of $104.36 million by 2.53%.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:32 pm

ARBE

Arbe Robotics reported Q3 adjusted EPS of $(0.12), beating the estimate of $(0.16) by 25%. However, the company's sales of $479.00K missed the estimate of $740.00K by 35.27%. This represents a 9.09% decrease in EPS and a 61.86% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:31 pm

MCFT

MasterCraft Boat Hldgs (NASDAQ:MCFT) reported Q1 adjusted earnings of $0.47 per share, beating the analyst consensus estimate of $0.40 by 17.5%. However, this is a 67.13% decrease from the same period last year. The company also reported quarterly sales of $104.20 million, beating the analyst consensus estimate of $96.63 million by 7.83%, but this is a 38.53% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:31 pm

BLDE

Blade Air Mobility (NASDAQ:BLDE) reported Q3 sales of $71.44 million, beating the analyst consensus estimate of $68.69 million by 4.00 percent. This represents a 56.25 percent increase over sales of $45.72 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:31 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) stock rallied in premarket trading following its Q3 results, which exceeded consensus estimates. The company reported a non-GAAP loss of $1.19 per share, narrower than the year-ago loss of $1.57 per share, and revenue climbed 150% to $1.34 billion. Rivian also raised its 2023 production guidance from 52,000 units to 54,000 units and ended its exclusivity agreement with Amazon for electric delivery vans. Needham analyst Chris Pierce reiterated a Buy rating on Rivian stock but reduced the price target from $31 to $25.

Portfolio Pulse from Shanthi Rexaline

November 08, 2023 | 12:31 pm

SRDX

Surmodics has projected its FY24 Non-GAAP diluted loss per share to range from $(1.32)-$(0.97), which is worse than the $(1.24) estimate.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:29 pm

MGIC

Magic Software has projected its Q3 2023 revenue to be around $129.3M, which is significantly lower than the estimated $146.4M and the prior range of $142.4M-$143.1M.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:28 pm

SRDX

Surmodics has projected its total revenue for FY24 to be between $116M-$121M, which is slightly above the $115.52M estimate. However, this represents a decrease of 9%-13% compared to FY23.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:26 pm

LCID

TSLA

Tesla CEO Elon Musk has criticized Lucid Group following its Q3 earnings report, which showed a loss of 28 cents per share and revenue of $137.8 million. Lucid delivered 1,457 vehicles in the quarter, leading to a loss of $433,081 per vehicle. Musk's comments come after Lucid cut its production guidance to 8,000-8,500 vehicles for the year, down from over 10,000. Lucid's vehicles are expensive, potentially limiting its consumer base.

Portfolio Pulse from Anan Ashraf

November 08, 2023 | 12:26 pm