Streetbeat News

Earnings

BCBP

BCB Bancorp reported Q2 earnings of $0.50 per share, missing the analyst consensus estimate of $0.54 by 7.41%. This is a 13.79% decrease from the same period last year. The company also reported quarterly sales of $28.11 million, missing the analyst consensus estimate of $29.22 million by 3.81%. However, this is a 2.48% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:45 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) has announced a series of strategic cost-saving measures, including a 33% reduction in workforce, to improve its financial performance and accelerate its path to profitability. The company expects to realize annual run-rate cost savings of over $5.0 million. The measures also include streamlining operations, reducing non-essential expenses, and optimizing use of existing resources.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 12:43 pm

CASS

Cass Information Sys (NASDAQ:CASS) reported Q2 earnings of $0.52 per share, missing the analyst consensus estimate of $0.67 by 22.39%. This is a 16.13% decrease from the same period last year. The company also reported quarterly sales of $48.21 million, missing the analyst consensus estimate of $49.67 million by 2.95%. However, this is a 9.01% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:41 pm

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSM) reported a Q2 revenue decline of 13.7% YoY to $15.68 billion, beating consensus estimates. The company's gross margin contracted due to lower capacity utilization and higher electricity costs. TSMC, a supplier to Apple Inc (AAPL) and Nvidia Corp (NVDA), projected a 10% fall in sales in FY23. The company also postponed production at a planned facility in Arizona until 2025.

Portfolio Pulse from Anusuya Lahiri

July 20, 2023 | 12:37 pm

BSGM

DHI

GRRR

Gorilla Technology (GRRR) has entered a strategic relationship with British Telecom for an AI-powered smart port solution, causing its stock to rise by 43.75%. BioSig AI Sciences (BSGM) has been selected for the NVIDIA Inception Partnership Program to support R&D collaboration on an AI medical device platform for hospitals, leading to a 36% increase in its stock. D.R. Horton (DHI) reported Q3 EPS of $3.90, beating the $2.79 estimate, and sales of $9.72B, beating the $8.39B estimate, resulting in a 6% increase in its stock.

Portfolio Pulse from ryanfaloona@benzinga.com

July 20, 2023 | 12:36 pm

SGMA

Sigmatron International reported Q4 earnings of $0.04 per share, a 60% decrease YoY. However, the company's sales increased by 9.07% to $108.23 million compared to $99.23 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:36 pm

TSLA

Tesla Inc's Q2 financial results show a 47% YoY increase in revenue to $24.93 billion, beating the consensus estimate of $24.48 billion. The company reported quarterly earnings of 91 cents per share, surpassing estimates of 82 cents per share. However, gross margins were down from 25% YoY to 18.2%. Despite this, Tesla called the numbers 'healthy'. The company also confirmed that the Cybertruck is on track for initial deliveries this year. However, shares started to drift lower during the call as the company announced that Q3 production is expected to slow down due to factory shutdowns for improvements.

Portfolio Pulse from Adam Eckert

July 20, 2023 | 12:35 pm

BMI

Badger Meter reported Q2 earnings of $0.76 per share, beating the analyst consensus estimate of $0.65 by 16.92%. This is a 33.33% increase over earnings of $0.57 per share from the same period last year. The company also reported quarterly sales of $175.86 million, beating the analyst consensus estimate of $156.85 million by 12.12%. This is a 27.59% increase over sales of $137.83 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:33 pm

CCI

Crown Castle Inc (NYSE:CCI) reported Q2 revenues of $1.867 billion, slightly beating the consensus of $1.86 billion. Site rental revenues rose 10% Y/Y to $1.73 billion. Adjusted EBITDA increased 10% Y/Y to $1.19 billion. However, the company cut the outlook for adjusted EBITDA by $50 million at the midpoint to $4.399 billion to $4.444 billion and AFFO per share by $0.09 at the midpoint to $7.50-$7.58. CCI shares are trading lower by 4.58% Y/Y at $108.30 premarket on the last check Thursday.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 12:29 pm

CVNA

Carvana Co. (NYSE:CVNA) shares surged 40% after reporting better-than-expected Q2 sales and positive adjusted EBITDA guidance for Q3. The company also agreed with noteholders to reduce total debt, extend maturities, and lower near-term cash interest expense. Traders expect Carvana's shares to continue to rally.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:23 pm