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Earnings

SCSC

ScanSource has projected a revenue growth of at least 3% YoY for FY24, with an adjusted EBITDA of at least $180M and free cash flow of at least $150M.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:35 pm

COTY

Coty Inc. (NYSE:COTY) shares traded higher in the premarket session on Tuesday after the company’s earnings release on Aug. 22. Options markets are implying a move of around +/-10% by the end of the week. Traders see Coty’s stock falling at least 20% by November expiration. Coty reported quarterly earnings of 1 cent per share, compared to a year-ago loss of 1 cent per share. The company reported Q4 revenue of $1.35 billion.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 12:33 pm

SCSC

ScanSource reported Q4 adjusted earnings of $0.76 per share, beating the analyst consensus estimate of $0.75 by 1.33%. However, this is a 16.48% decrease from the same period last year. The company also reported quarterly sales of $947.15 million, beating the estimate of $897.20 million by 5.57%, but this is a 1.57% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:32 pm

BJ

BJ's Wholesale Club Holdings Inc reported a 2.9% YoY decline in Q2 FY23 sales to $4.96 billion, missing the analyst consensus of $5.15 billion. Total comparable club sales decreased by 5.3%, while comparable club sales excluding gasoline sales increased by 1.1%. Membership fee income increased by 5% to $103.7 million. The company repurchased 715,122 shares of common stock, totaling $44.6 million in Q2. BJ's Wholesale expects FY23 EPS of $3.80-$3.92 versus the consensus of $3.87.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 12:30 pm

MDT

Medtronic Plc (NYSE:MDT) reported Q1 FY24 sales of $7.7 billion, up 4.5% Y/Y, beating the consensus of $7.57 billion. The company's organic revenue results reflect strength across businesses and geographies. Medtronic's heart device unit sales increased 5.5% Y/Y to $2.85 billion. The company raised its FY24 revenue growth and EPS guidance, expecting FY24 organic revenue growth of 4.5%. Medtronic expects FY24 adjusted EPS of 5.08-$5.16, up from prior guidance of $5.00-$5.10.

Portfolio Pulse from Vandana Singh

August 22, 2023 | 12:28 pm

KC

Kingsoft Cloud Holdings (NASDAQ:KC) reported Q2 losses of $(0.18) per share, beating the analyst consensus estimate of $(0.20) by 10 percent. However, the company's quarterly sales of $253.14 million missed the analyst consensus estimate of $268.15 million by 5.60 percent.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 12:20 pm

BOSC

BOS Better Online Solutions (NASDAQ:BOSC) reported Q2 earnings of $0.11 per share, a 266.67% increase YoY. The company also reported sales of $11.34 million, a 9.53% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:06 pm

ZM

Zoom Video Communications reported better-than-expected Q2 earnings and issued a strong earnings outlook for the year. However, several analysts including Bernstein, Wells Fargo, and Baird have cut their price targets on Zoom Video following the earnings announcement. Zoom's shares gained 1.3% in pre-market trading.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 11:50 am

DKS

Dick's Sporting Goods Inc (NYSE:DKS) shares dropped over 19% following a Q2 FY23 earnings miss. Q2 sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. The company also reported a contraction in gross profit margin and operating margin, and a 32.3% Y/Y fall in operating income. Adjusted EPS of $2.82, down 23% Y/Y, missed the analyst consensus of $3.81. The company reduced its FY23 adjusted EPS outlook and cut positions at its customer support center to streamline costs.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 11:48 am

SPHR

Sphere Entertainment (NYSE:SPHR) reported Q4 earnings of $10.21 per share, a 780.67% increase YoY. The company also reported $129.10 million in sales, a 92.41M% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:36 am