Streetbeat News

Earnings

SQSP

Squarespace has projected its Q3 revenue to be between $250M and $253M, representing a 15%-16% increase year-over-year. This estimate surpasses the consensus of $245.64M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:38 pm

PMTS

CPI Card Group has updated its full-year net sales outlook for 2023 to a range of flat to low single-digit growth, down from the previous outlook of mid-single digit growth. The company also affirmed its outlook for mid-to-high single-digit Adjusted EBITDA growth and expects Free Cash Flow to more than double and the year-end Net Leverage Ratio to improve to between 2.5x and 3.0x.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:37 pm

PEPG

PepGen (NASDAQ:PEPG) reported Q2 losses of $(0.82) per share, missing the analyst consensus estimate of $(0.81) by 1.23 percent. However, this is a 33.33 percent improvement over losses of $(1.23) per share from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:36 pm

EXPD

Expeditors Intl (NASDAQ:EXPD) reported Q2 earnings of $1.30 per share, missing the analyst consensus estimate of $1.34 by 2.99%. This is a 42.73% decrease from the same period last year. The company also reported quarterly sales of $2.24 billion, missing the analyst consensus estimate of $2.88 billion by 22.20%. This is a 51.34% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:36 pm

MVST

Microvast Holdings Inc (NASDAQ:MVST) reported better-than-expected Q2 results, with a 16.4% YoY increase in revenue to $74.95 million, beating the consensus estimate of $64.19 million. The company also reported a smaller loss than expected. Microvast ended the quarter with a backlog of $675.9 million, up 541.9% YoY, driven by its production ramp for commercial vehicle customers in Europe and Asia Pacific. The company expects Q3 revenue to be between $72 million and $80 million, and full-year revenue to be between $348 million and $368 million.

Portfolio Pulse from Adam Eckert

August 08, 2023 | 12:35 pm

EDRY

EuroDry (NASDAQ:EDRY) reported Q2 adjusted losses of $(0.48) per share, missing the analyst consensus estimate of $0.54 by 188.89%. The company also reported quarterly sales of $10.30 million, missing the analyst consensus estimate of $13.87 million by 25.74%. This represents a significant decrease in both earnings and sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:33 pm

SEAS

SeaWorld Entertainment Inc reported a Q2 FY23 sales decline of 1.75% year-on-year to $496 million, beating the analyst consensus estimate of $494.19 million. Attendance decreased due to adverse weather and the fall-out from Canadian wildfires. Revenue per capita and in-park per capita spending slightly increased. Total costs and expenses rose 4.2% Y/Y to $340.6 million. Adjusted EBITDA decreased 4.4% Y/Y. EPS of $1.35 missed the analyst consensus of $1.78. The company held $146.7 million in cash and equivalents as of June 30, 2023.

Portfolio Pulse from Shivani Kumaresan

August 08, 2023 | 12:31 pm

BRK-A

MS

VLO

On CNBC's 'Halftime Report Final Trades', Jim Lebenthal of Cerity Partners recommended Berkshire Hathaway, which posted a Q2 profit of $35.9 billion. Jason Snipe of Odyssey Capital Advisors recommended Morgan Stanley, which recently reported better-than-expected Q2 results. Joseph Terranova of Virtus Investment Partners recommended Valero Energy, which reported Q2 2023 revenues of $34.5 billion, beating consensus estimates.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 12:29 pm

LI

Li Auto Inc reported Q2 FY23 sales growth of 228.1% YoY to $3.95 billion, beating the consensus of $3.81 billion. Vehicle sales increased 229.7% to $3.86 billion, mainly due to the increase in vehicle deliveries. The company delivered 86,533 units in Q2, a 201.6% YoY increase. For Q3 FY23, Li Auto expects revenue of $4.46 billion - $4.59 billion, representing an increase of 246.0% - 256.4% YoY. However, LI shares traded lower by 4.12% in premarket.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 12:26 pm

MDGL

Madrigal Pharmaceuticals reported Q2 losses of $4.69 per share, missing the analyst consensus estimate of $4.58 by 2.4%. This represents a 13.29% increase in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:24 pm