Streetbeat News

Earnings

CNDT

Conduent Inc's Q3 FY23 results show a 4.6% Y/Y decline in revenues to $932 million, beating the analyst consensus of $915 million. Adjusted EBITDA fell 12.4% Y/Y to $92 million, and adjusted EPS loss of $(0.09) missed the street view of $0.02. The company also reported a new business TCV pipeline increase of 13% Q/Q. In Q3 2023, Conduent transferred its BenefitWallet HSA portfolio, expecting a pre-tax gain of around $425 million in H1 2024. The company revised its FY23 adjusted revenue guidance to $3.70 billion-$3.72 billion. CNDT shares are down 15.2% to $2.70.

Portfolio Pulse from Lekha Gupta

November 01, 2023 | 4:32 pm

IDXX

IDEXX Laboratories Inc reported Q3 FY23 sales of $915.53 million, missing the consensus of $926.76 million. Adjusted EPS was $2.50, beating the consensus of $2.37. The company raised its FY2023 EPS guidance but lowered the FY23 sales guidance. Despite the mixed results, William Blair maintains that the veterinary healthcare sector, and IDEXX in particular, remains a secure and attractive investment option due to its robust financial position and recurring-revenue business model. IDXX shares are down 3.42% at $385.80.

Portfolio Pulse from Vandana Singh

November 01, 2023 | 4:32 pm

SPWR

SunPower Corporation's shares are trading lower following the company's worse-than-expected Q3 results.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 4:28 pm

TTMI

TTM Technologies reported a Q3 earnings beat and issued strong EPS guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 4:27 pm

MTCH

Match Group Inc's shares fell after the company reported its Q3 results. The company's preliminary 2024 revenue guidance was slightly below expectations, and Q4 guidance was lower than expected due to geopolitical risk, FX, and macro factors. Tinder's direct revenue growth is expected to be around 11% y/y. Analysts from KeyBanc Capital Markets, Piper Sandler, RBC Capital Markets, and Truist Securities provided their insights on the company's performance and outlook.

Portfolio Pulse from Priya Nigam

November 01, 2023 | 4:26 pm

BYDDY

LI

NIO

TSLA

XPEV

BYD Company Limited reported its highest ever quarterly profit for Q3, outperforming Tesla Inc. Li Auto, XPeng, and Nio also recorded delivery records in October. Li Auto aims to become the top-selling luxury brand in China, with sales rising 664% YoY in August. XPeng, backed by Volkswagen, delivered a record 20,002 units in October, a 292% YoY growth. Nio reported a 59.8% YoY growth in October deliveries.

Portfolio Pulse from Upwallstreet

November 01, 2023 | 4:26 pm

GOOS

Canada Goose has lowered its financial outlook for FY24, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 4:25 pm

HUM

Humana Inc reported Q3 adjusted EPS of $7.78, beating the consensus of $7.16, and revenue of $26.42 billion, up from $22.78 billion a year ago. However, the company's profits fell 30% to $830 million. Despite a strong quarter, shares fell due to disappointment that Humana did not increase its full-year guide. The company's caution relates to elevated demand for non-urgent surgeries that may constrain Q4 results. Humana reaffirms adjusted EPS guidance of at least $28.25 versus the consensus of $28.3.

Portfolio Pulse from Vandana Singh

November 01, 2023 | 4:24 pm

SXC

SunCoke Energy has lowered its FY23 net income guidance, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 4:23 pm

BA

SPR

Spirit AeroSystems reported Q3 FY23 revenue growth of 13% YoY to $1.44 billion, missing consensus of $1.462 billion. The increase is due to higher production deliveries on most Commercial programs and higher Defense and Space and Aftermarket revenue. Q3 Adjusted EPS loss expanded to $(1.42) from $(0.15) a year ago, beating the consensus loss of $(1.54). The company recently appointed Pat Shanahan as interim President and CEO. Spirit AeroSystems sees cash used in operations of $(150) million-$(200) million, and free cash flow to be a usage of $(275) million-$(325) million. SPR shares are trading higher by 6.17% at $24.00.

Portfolio Pulse from Akanksha Bakshi

November 01, 2023 | 4:15 pm