Streetbeat News

Earnings

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

VEEV

VEEVA Systems has issued Q4, FY24 and FY25 revenue guidance below estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:29 pm

GM

Cruise, a subsidiary of General Motors (GM), has announced layoffs affecting contract workers who worked on its driverless ridehailing service. The layoffs come after a series of safety concerns and incidents, including a pedestrian collision that led to the recall of 950 robotaxis. The California Department of Motor Vehicles has suspended Cruise's deployment and testing permits for its autonomous vehicles. GM reported a loss of approximately $1.9 billion on Cruise through September of this year.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:26 pm

FLT

FleetCor Technologies reported worse-than-expected Q3 financial results and lowered its FY23 revenue guidance. Morgan Stanley also lowered its price target for FleetCor from $244 to $240.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:26 pm

TPR

Tapestry Inc (NYSE:TPR) reported Q1 FY24 sales growth of 0.4% YoY to $1.51 billion, missing the analyst consensus estimate of $1.53 billion. Adjusted EPS of $0.93 beat the analyst consensus of $0.90. The company held $638.8 million in cash and equivalents as of September 30, 2023. Tapestry's Board of Directors declared a quarterly cash dividend of $0.35. The company maintained its FY24 EPS forecast of $4.10-$4.15 but trimmed its FY24 sales forecast to $6.7 billion from $6.9 billion due to expected currency headwinds and a more moderate operational outlook for Asia and North America.

Portfolio Pulse from Shivani Kumaresan

November 09, 2023 | 3:24 pm

VEEV

Veeva Systems has updated its guidance for the fiscal year ending January 31, 2025. The company expects total revenue of at least $2.75 billion and non-GAAP operating income of at least $1 billion. This is slightly below the estimated revenue of $2.81 billion.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:23 pm

VEEV

Veeva Systems has updated its FY24 guidance, expecting total revenue between $2.353B and $2.355B, slightly below the estimated $2.37B. The company anticipates subscription revenue of about $1.897B, services revenue between $456M and $458M, and non-GAAP operating income of about $827M.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:22 pm

VEEV

Veeva Systems has provided its Q4 guidance for the fiscal year ending January 31, 2024. The company expects total revenue between $621M and $623M, subscription revenue of about $517M, services revenue between $104M and $106M, and non-GAAP operating income of about $226M. However, this is lower than the estimated revenue of $636.04M.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:21 pm