Streetbeat News

Earnings

GTES

Gates Industrial Corp (NYSE:GTES) reported Q2 earnings of $0.36 per share, beating the analyst consensus estimate of $0.32 by 12.5%. The company also reported quarterly sales of $936.30 million, beating the estimate of $935.63 million by 0.07%. This represents a 3.25% increase over sales from the same period last year.

Portfolio Pulse from saritha@benzinga.com

August 04, 2023 | 3:14 pm

ROLL

RBC Bearings reported Q1 earnings per share (EPS) of $2.13, beating the estimate of $1.97. However, the company's sales of $387.10M fell short of the estimated $390.72M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:14 pm

MGA

Magna International Inc (NYSE:MGA) reported Q2 FY23 sales growth of 17.3% YoY to $10.98 billion, beating the analyst consensus of $10.20 billion. The company's Board declared a Q2 dividend of $0.46 per share. Magna raised its FY23 sales outlook from $40.2 billion-$41.8 billion to $41.9 billion-$43.5 billion. MGA shares are trading higher by 1.49% at $64.00 in premarket on Friday.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 3:13 pm

NKLA

Nikola Corp (NASDAQ:NKLA) has won shareholder approval to increase the authorized number of shares of common stock, which will allow the company to raise cash by issuing new shares as needed. The company plans to use the funds raised for the production ramp of its new hydrogen fuel cell electric vehicle and expansion of its hydrogen refueling network. Nikola will report its Q2 results on August 4, with expected revenue of $15.43 million and an EPS loss of $(0.22).

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:13 pm

TWST

Twist Bioscience anticipates achieving adjusted EBITDA breakeven for its core business (SynBio, NGS) in Q4 of FY24. The company also projects its fiscal year-end cash to be $220M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:12 pm

SHAK

Shake Shack Inc (NYSE:SHAK) reported Q2 FY23 sales growth of 17.8% YoY to $271.80 million, missing the analyst consensus of $274.40 million. However, its adjusted pro forma EPS was $0.18 for the quarter, beating the consensus of $0.09. Following the earnings announcement, TD Cowen, Barclays, and Raymond James analysts raised their price targets on Shake Shack.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 3:12 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) reported Q2 revenue of $134.4 billion, beating estimates of $131.54 billion, and earnings of 65 cents per share, surpassing estimates of 34 cents per share. The company expects Q3 revenue to be between $138 billion and $143 billion. Following the announcement, Amazon shares gained 9% in pre-market trading. Several analysts, including those from Telsey Advisory Group, JP Morgan, Rosenblatt, and JMP Securities, raised their price targets on Amazon.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 3:12 pm

TDS

Telephone and Data Systems (TDS) has reaffirmed its 2023 revenue guidance for its TDS Telecom segment, expecting revenues of $1.03B-$1.06B. The company also adjusted its EBITDA forecast to $270M-$300M, up from the previous range of $260M-$290M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:12 pm

IESC

IES Hldgs (NASDAQ:IESC) reported Q3 earnings of $1.08 per share, a 134.78% increase YoY. The company also reported sales of $584.40M, a 3.01% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:12 pm

TWST

Twist Bioscience has updated its Q4 FY23 revenue guidance to $63M-$64M, up from the previous guidance of $62M-$63M and above the consensus of $62.25M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:11 pm