Streetbeat News

Earnings

FDX

GIS

KBH

SCS

SKIL

General Mills, FedEx, Steelcase, Skillsoft, and KB Home are the stocks to watch on Wednesday. General Mills and FedEx are expected to report quarterly earnings, while Steelcase reported better-than-expected Q2 results. Skillsoft announced a 1-for-20 reverse stock split, and KB Home is also expected to post quarterly earnings.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 8:06 am

DIS

FDX

GIS

KBH

The CNN Money Fear and Greed index showed some improvement in overall sentiment among U.S. investors on Tuesday. The Dow Jones closed lower by over 100 points ahead of Federal Reserve interest-rate decision. Housing starts in the U.S. fell 11.3% month-over-month to an annualized rate of 1.283 million in August. The Walt Disney Company (NYSE:DIS) shares fell 3.6% after the company shared plans to double its capital expenditures at its Disney Parks, Experiences and Products segment to $60 billion over the next decade. Investors are awaiting earnings results from FedEx Corporation (NYSE:FDX), General Mills, Inc. (NYSE:GIS) and KB Home (NYSE:KBH).

Portfolio Pulse from Lisa Levin

September 20, 2023 | 7:58 am

KBH

KB Home (NYSE:KBH) is expected to report a sharp decline in its Q3 earnings, with analysts predicting earnings of $1.43 per share, down from $2.86 per share in the same period last year. The company's revenue is also expected to decrease to $1.48 billion from $1.84 billion. Despite this, KB Home shares rose 0.3% to close at $48.41 on Tuesday. Several analysts have recently upgraded their ratings and price targets for the company.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 6:51 am

SEZL

Sezzle's total income for August 2023 increased by 44.3% YoY to $14M, and by 11.7% MoM. The income as a percentage of Underlying Merchant Sales (UMS) also increased by 188 bps YoY to 8.7%. Sezzle recorded a GAAP Net Income and Adjusted EBITDA of $0.6M and $2.4M respectively. As of August 31, 2023, Sezzle had $60.7M in cash, with $71.7M drawn from its $100M credit facility. Active subscribers for Sezzle Premium and Anywhere exceeded 210,000 as of September 19, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 5:39 am

ETD

Ethan Allen Interiors has resumed operations at its manufacturing plant in Orleans, Vermont, following flooding in July. The company expects a $15M impact to Q1 sales due to production delays. Ethan Allen is working through insurance to recover a portion of the losses, which will be included in the fiscal 2024 first quarter financial results.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:50 pm

IFF

International Flavors & Fragrances Inc. (IFF) has reiterated its forecast for FY23 sales to be in the range of $11.3 billion to $11.6 billion.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:25 pm

SCS

Steelcase expects Q3 EPS of $0.23-$0.27, higher than the estimated $0.19, and FY24 EPS of $0.80-$0.90, higher than the estimated $0.67. The company's backlog of customer orders was approximately $700 million, 26% lower than the prior year due to supply chain disruptions and extended delivery timeframes. The company expects Q3 fiscal 2024 revenue to be in the range of $780 to $805 million, a decline of 3 to 6 percent compared to the prior year. For fiscal 2024, the company expects a modest organic revenue decline compared to fiscal 2023 but significantly improved adjusted earnings per share.

Portfolio Pulse from Happy Mohamed

September 19, 2023 | 8:09 pm

RCAT

Red Cat Holdings (NASDAQ:RCAT) reported Q1 losses of $(0.11) per share, meeting analyst consensus estimates. This represents a 57.14% increase in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:08 pm

SCS

Steelcase (NYSE:SCS) reported Q2 earnings of $0.31 per share, beating the analyst consensus estimate of $0.20 by 55%. This is a 47.62% increase from the same period last year. The company also reported quarterly sales of $854.60 million, beating the analyst consensus estimate of $828.82 million by 3.11%, despite a 1.01% decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

September 19, 2023 | 8:06 pm

TSLA

GLJ Research analyst Gordon L. Johnson II has issued a Sell rating on Tesla, Inc (NASDAQ:TSLA), citing demand problems, falling average selling prices (ASPs), and margins. The analyst predicts that Tesla's Q3 results will be disappointing, with ASPs potentially down 2%-3% sequentially. He also anticipates Tesla's Q3 deliveries to be 442K, down from 466.140K in Q2. The analyst believes that Tesla's aggressive price cuts are an attempt to mask demand issues in its three largest markets: the U.S., the EU, and China.

Portfolio Pulse from Anusuya Lahiri

September 19, 2023 | 7:53 pm