Streetbeat News

Earnings

FUL

H.B. Fuller has revised its fiscal 2023 outlook, expecting net revenue to be between $3.50 billion and $3.55 billion, down 4.5% to 5.5% from fiscal 2022 due to lower volume expectations. Adjusted EBITDA is expected to be between $580 million and $590 million, reflecting higher margins and contributions from acquisitions. Adjusted EPS is expected to be between $3.80 and $3.90, down 2.5% to 5.0% YoY. The company also expects to generate between $40 and $45 million in annual pre-tax run-rate cost savings from restructuring.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:08 pm

FUL

H.B. Fuller (NYSE:FUL) reported Q3 earnings of $1.06 per share, missing the analyst consensus estimate of $1.14 by 7.02%. The company's quarterly sales were $900.63 million, missing the analyst consensus estimate of $956.26 million by 5.82%. This represents a 4.31% decrease over sales of $941.23 million the same period last year.

Portfolio Pulse from Happy Mohamed

September 27, 2023 | 8:06 pm

MU

Micron Technology, Inc. (MU) has reported a non-GAAP gross margin percentage of 9.1% for Q1.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:06 pm

MU

Micron Technology Inc. expects Q1 adjusted EPS to be between $(1.14) and $(1.00), which is worse than the estimated $(0.90). The company also forecasts revenue to be between $4.2B and $4.6B, which is higher than the estimated $3.97B.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:04 pm

MU

Micron Technology reported Q4 adjusted EPS of $(1.07), beating the estimate of $(1.18), and sales of $4.01B, beating the estimate of $3.91B. However, this represents a 173.79% decrease in earnings and a 39.64% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:02 pm

CTAS

Stifel analyst Shlomo H. Rosenbaum has reiterated a Hold rating on Cintas Corporation (CTAS), raising the price target to $526 from $521. CTAS reported Q1 FY24 revenue growth of 8% YoY to $2.34 billion, meeting analyst consensus. The organic revenue growth rate was 8.1% for the quarter. Rosenbaum is bullish on CTAS's growth and margin improvement, but believes the current valuation captures most of the near-term appreciation potential.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 7:51 pm

ODFL

SAIA

Benchmark analyst Christopher Kuhn reiterated a Buy rating on Saia, Inc (NASDAQ:SAIA), raising the price target to $475 from $450. The analyst raised the price target and earnings estimates due to Saia's higher than expected 3Q operating data. Saia's increase in tons is attributed to Yellow Corporation's freight flowing into Saia's network. The analyst increased 3Q estimate to $3.42 from $3.25 and raised 2023 and 2024 EPS estimates.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 7:16 pm

RKLB

Stifel analyst Erik Rasmussen has reiterated a Buy rating on Rocket Lab USA, Inc. (RKLB) but lowered the price target to $10 from $11 following a recent satellite mission mishap. The company has reduced its Q3 FY23 financial outlook, with revenues expected to be impacted by roughly $22.5 million in 2023. Despite this, the analyst is encouraged by the limited impact on gross margins and ongoing cost optimization efforts.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 7:00 pm

MRMD

MSOS

MariMed CEO Jon Levine announced at the Benzinga Cannabis Capital Conference that the company's balance sheet and income statements are improving every quarter. He also stated that the company plans to continue this positive trend.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 4:45 pm

JBL

Jabil (NYSE:JBL) is set to release its latest quarterly earnings report on September 28, 2023. Analysts estimate an earnings per share (EPS) of $2.32. The company's past performance shows a trend of beating EPS estimates, which has generally led to an increase in share price. Jabil's shares were trading at $105.0 as of September 26, with a 79.06% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 4:00 pm