Streetbeat News

Earnings

NIO

NIO Inc's shares are trading lower due to continued selling pressure following weak Q2 earnings. The company reported a revenue of $1.21 billion, missing the consensus estimate of $1.35 billion, and a quarterly loss of 45 cents per ADS, which also missed estimates. Nio's vehicle deliveries in Q2 totaled 23,520, down 24% sequentially and 6% YoY. The company guided for Q3 revenue of $2.61 billion to $2.69 billion, higher than estimates of $2.44 billion, and expects Q3 deliveries to be between 55,000 and 57,000.

Portfolio Pulse from Adam Eckert

August 30, 2023 | 1:30 pm

ETRGF

Entourage Health Corp. reported Q2 2023 financial results, with total revenue of CA$13.37 million ($9.83 million) and net revenue of CA$10.17 million, representing a total revenue increase of 1% and a net revenue increase of 5% YoY. The increase in total revenue is attributed to an 8% increase in adult-use revenue and a 45% increase in pre-roll revenue YoY. The company also introduced new product lines and expanded its pre-roll series. However, the company's gross profit and cash equivalents decreased, while its loss remained steady.

Portfolio Pulse from Jelena Martinovic

August 30, 2023 | 1:26 pm

CONN

Conn's, Inc (NASDAQ:CONN) reported a Q2 FY24 revenue decline of 11.5% YoY to $306.9 million, missing consensus estimates. Adjusted EPS loss of $(1.39) beat the consensus loss of $(1.53). Same-store sales decreased 15.4%, but eCommerce sales increased 41.5%. The company opened four new stores in the quarter and plans to open ten in FY24, down from the prior forecast of 11. The stock lost over 51% YTD and over 29% last month.

Portfolio Pulse from Anusuya Lahiri

August 30, 2023 | 1:25 pm

LX

LexinFintech reported better-than-expected Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 1:21 pm

HOV

Hovnanian Enterprises has raised its FY23 earnings per share (EPS) forecast to $21-$24 and its revenue forecast to $2.6B-$2.7B.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 1:21 pm

PDCO

Patterson Companies reported mixed Q1 results and reaffirmed its FY24 guidance, leading to a decrease in its share price.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 1:18 pm

HOV

Hovnanian Enterprises reported Q3 earnings of $7.38 per share, a 31.79% decrease YoY. The company also reported sales of $650.00 million, a 15.32% decrease YoY.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 1:17 pm

AGBA

AGBA Group Holding Limited has updated its financial projections, taking into account the global slowdown and its impact on Hong Kong's growth trajectory. The Group has adjusted its forecasts and implemented strategic management actions to drive revenue growth and improve platform efficiencies through cost cuts. As a result, AGBA Group expects to deliver a lower loss for the fiscal year 2023 compared to previous forecasts and achieve profitability sooner than anticipated.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 1:16 pm

PUK

Prudential's shares are trading higher following the release of its 1H results.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 1:15 pm

ZTO

ZTO Express shares are trading lower after the company reported mixed Q2 results.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 1:14 pm