Streetbeat News

Earnings

HRL

Hormel Foods has lowered its FY23 outlook, with adjusted EPS now expected to be $1.61 - $1.67, down from the previous estimate of $1.70 - $1.82. The company expects modest volume growth in Q4, net sales between $3.1 billion and $3.6 billion, and diluted net earnings per share to be down from last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:37 am

HRL

Hormel Foods has provided its Q4 outlook, expecting revenues between $3.1B and $3.6B, compared to the $3.43B estimate. The company anticipates modest volume growth, particularly from the Foodservice segment, and a recovery in turkey and improved fill rates in key categories. However, it expects Q4 net earnings per share to fall YoY due to weakness in the International segment and lower Retail segment results.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:35 am

KEN

Kenon Holdings (NYSE:KEN) reported Q2 sales of $165.00 million, a 36.36% increase from $121.00 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:32 am

HRL

Hormel Foods (NYSE:HRL) reported Q3 earnings of $0.40 per share, missing the analyst consensus estimate of $0.41 by 2.44%. The company also reported quarterly sales of $2.96 billion, missing the analyst consensus estimate of $3.05 billion by 2.85%. This represents a 2.34% decrease over sales of $3.03 billion in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:31 am

VSCO

Victoria's Secret & Co (NYSE:VSCO) reported Q2 FY23 results below consensus, with a 6.2% Y/Y decline in revenue to $1.43 billion. Adjusted EPS of $0.24 also fell short of the expected $0.26. The company's outlook for Q3 and FY23 predicts further decreases in net sales and a larger than expected adjusted EPS loss. As a result, VSCO shares are trading lower.

Portfolio Pulse from Lekha Gupta

August 31, 2023 | 10:30 am

BEKE

BENF

BILI

CHWY

CION

DG

FIVE

MCFT

NVX

PLTR

VSCO

Several US stocks recorded losses in Thursday's pre-market trading session. Beneficient shares dipped 10.7%, CION Investment Corporation shares declined 7.5%, Five Below shares fell 6% despite upbeat Q2 results due to a weak Q3 outlook, Victoria's Secret shares fell 5.3% following weaker-than-expected quarterly results, Chewy shares tumbled 4.9% following Q2 results, Novonix shares fell 4.8%, KE Holdings shares declined 4% following Q2 results, Palantir Technologies shares fell 4% after a downgrade from Morgan Stanley, Bilibili shares fell 3.8%, MasterCraft Boat Holdings shares fell 3% after Q4 results and FY24 guidance below estimates, and Dollar General shares fell 2% ahead of quarterly earnings.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 10:16 am

QH

Quhuo (NASDAQ:QH) reported a 50% decrease in adjusted quarterly losses to $(0.02) per share from $(0.04) per share YoY. However, the company's sales decreased by 13.95% to $239.45 million from $278.26 million YoY.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:07 am

LEJU

Leju Hldgs (NYSE:LEJU) reported H1 adjusted EPADS of $(1.06), up from $(3.50) YoY, but sales decreased to $158.50M from $169.45M YoY. The company's quarterly losses improved by 69.71% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:05 am

CM

Canadian Imperial Bank (NYSE:CM) reported Q3 adjusted earnings of $1.13 per share, missing the analyst consensus estimate of $1.23 by 8.05%. This is a 21.46% decrease from the same period last year. However, the company's quarterly sales of $4.35 billion beat the analyst consensus estimate of $4.25 billion by 2.47%, a 0.55% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 9:57 am

ALLT

Allot Ltd. reported Q2 SECaaS revenues of $2.4 million and June 2023 SECaaS ARR of $9.7 million.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 9:07 am