Streetbeat News

Earnings

CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) reported a 2% YoY revenue growth for Q2 FY23, missing consensus estimates. The company's Q2 revenue grew by 39% sequentially due to higher solar module shipment volume and project sales, partially offset by a decline in module average selling price. The company cut its FY23 revenue guidance to $8.5 billion - $9.0 billion from the previous $9.0 billion - $9.5 billion. Despite the reduced guidance, CSIQ shares traded higher by 0.78% in the premarket session.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 12:53 pm

ZM

Zoom Video Communications Inc (ZM) reported better-than-expected Q2 results and strong earnings guidance, leading to a rise in its stock. Q2 revenue increased 3.6% YoY to $1.14 billion, beating the consensus estimate of $1.11 billion. Adjusted earnings were $1.34 per share, surpassing analyst estimates of $1.03 per share. The company expects Q3 revenue to be between $1.115 billion and $1.12 billion and full-year revenue to be between $4.485 billion and $4.495 billion. Several analysts have updated their ratings and price targets for Zoom.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 12:51 pm

ZM

Zoom Video Communications reported better-than-expected quarterly results and issued strong earnings guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:51 pm

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