Streetbeat News

Earnings

FAST

Fastenal's shares are trading higher following the release of its mixed Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 12:26 pm

GS

KKR

Goldman Sachs Group, Inc. (NYSE:GS) is selling the GreenSky platform and associated loan assets to a consortium led by Sixth Street, which includes KKR & Co. Inc. (NYSE:KKR), Bayview Asset Management, and CardWorks. The sale is expected to result in a $(0.19) earnings per share impact on Goldman Sachs' Q3 earnings. Goldman Sachs will continue to operate the platform and record ongoing business results.

Portfolio Pulse from Nabaparna Bhattacharya

October 12, 2023 | 12:22 pm

SOTK

Sono-Tek Corporation (SOTK) expects a minimum of 25% year-over-year growth by the end of FY2024 in February. The company's first half net sales grew by 18% YOY, and its backlog reached a record $10.7 million.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 12:18 pm

SOTK

Sono-Tek reported Q2 earnings of $0.03 per share, missing the analyst consensus estimate of $0.05 by 40%. However, the company's quarterly sales of $5.64 million beat the estimate of $5.62 million by 0.34%. Compared to the same period last year, earnings increased by 200% and sales by 49.85%.

Portfolio Pulse from Happy Mohamed

October 12, 2023 | 12:16 pm

VSAT

Viasat, Inc. (NASDAQ:VSAT) has announced key financial developments that are expected to enhance its cash generation profile. The company now expects to reach sustainable positive free cash flow during the first half of 2025, earlier than previously announced. Viasat has also confirmed that it will not require a replacement for the ViaSat-3 F1 satellite, which encountered a mechanical deployment issue. The company expects to report more than $3 billion of liquidity as of September 30, 2023, and remains on track to achieve its outlook for FY2024.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 12:13 pm

DPZ

Domino's Pizza Inc (NYSE:DPZ) reported a Q3 FY23 sales decline of 3.9% YoY to $1.03 billion, missing the analyst consensus of $1.05 billion. The decrease was primarily due to lower supply chain and U.S. Company-owned store revenues. Global retail sales increased 4.9%, excluding the positive impact of foreign currency. The company had a global net store decrease of 8 stores. EPS of $4.18 beat the analyst consensus estimate of $3.30. The company's Board of Directors declared a $1.21 per share quarterly dividend. In Q3, the company repurchased and retired 229,860 shares of common stock for a total of $90 million.

Portfolio Pulse from Shivani Kumaresan

October 12, 2023 | 12:13 pm

INMD

InMode Ltd. (NASDAQ: INMD) has announced its Q3 2023 earnings per share (EPS) to be between $0.59-$0.60, lower than the estimated $0.66. The company also expects its 2023 revenue to be between $122.8M-$123.0M, lower than the estimated $136.94M. Furthermore, InMode has lowered its full-year 2023 revenue guidance to $500M-$510M from the original estimates of $530M-$540M. The company attributes these changes to factors such as economic slowdown, slower purchase decisions, and constraints in financing of medical equipment.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 12:12 pm

BYRN

Byrna Technologies reported Q3 adjusted losses of $(0.11) per share, missing the analyst consensus estimate of $0.01 by 1200 percent. This is a 57.14 percent decrease over losses from the same period last year. The company also reported quarterly sales of $7.08 million, missing the analyst consensus estimate of $9.41 million by 24.71 percent, a 42.96 percent decrease over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 12:06 pm

INFY

Infosys Ltd reported Q2 revenue growth of 3.6% YoY to $4.72 billion, beating the consensus of $4.61 billion. However, the operating margin declined by 30 bps to 21.2%. The company held $4.17 billion in cash and equivalents and clocked a free cash flow of $670 million. The Board announced an interim dividend of ₹18 per share, an increase of 9.1% over last year. Despite this, Infosys cut its FY24 revenue outlook, expecting growth of 1.0% - 2.5% in constant currency, down from the prior 1.0% - 3.5%.

Portfolio Pulse from Anusuya Lahiri

October 12, 2023 | 11:59 am

ERIC

Ericsson (NASDAQ:ERIC) has announced a non-cash impairment charge of SEK 32 billion in Q3 2023, accounting for 50% of the goodwill and other intangible assets related to Vonage. The impairment is due to a decline in the market capitalization of Vonage's publicly traded peers, higher interest rates, and a slowdown in Vonage's core markets. Despite this, Ericsson continues to focus on its enterprise strategy, with Vonage's network API capabilities being the core focus. The company's Q3 performance is expected to be in line with guidance, with an EBITA margin of 7.3% and EBITA of SEK 4.7 billion. Ericsson's shares are trading higher by 7.45% at $5.05 premarket.

Portfolio Pulse from Lekha Gupta

October 12, 2023 | 11:54 am