Streetbeat News

Earnings

MMC

Marsh & McLennan (NYSE:MMC) reported Q2 adjusted earnings of $2.20 per share, beating the analyst consensus estimate of $2.12 by 3.77%. This is a 16.4% increase from the same period last year. The company also reported quarterly sales of $5.88 billion, beating the analyst consensus estimate of $5.76 billion by 2.01%, a 9.24% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 11:01 am

PM

Philip Morris Intl (NYSE:PM) reported Q2 earnings of $1.60 per share, beating the analyst consensus estimate of $1.47 by 8.84%. This is an 8.11% increase from the same period last year. The company also reported quarterly sales of $8.97 billion, beating the analyst consensus estimate of $8.65 billion by 3.66%. This is a 14.49% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 11:00 am

FAST

LMT

NVCT

Insiders at Nuvectis Pharma, Fastenal Company, and Lockheed Martin have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects or that they view the stocks as a bargain. Nuvectis Pharma recently announced the FDA clearance of NXP900 IND. Fastenal reported Q2 sales growth of 5.9% Y/Y to $1.88 billion, slightly missing the consensus of $1.89 billion. Lockheed Martin reported Q2 FY23 net sales growth of 8.1% Y/Y to $16.69 billion, above the consensus of $15.91 billion.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 10:59 am

TRV

Travelers Companies has reported Q2 catastrophe losses of $1.481 billion pre-tax.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:59 am

BX

Blackstone (NYSE:BX) reported Q2 earnings of $0.93 per share, in line with analyst consensus. However, this is a 37.58% decrease from the same period last year. The company's quarterly sales of $2.35 billion missed the analyst consensus estimate of $2.41 billion by 2.45%, marking a 43.41% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:58 am

GPC

Genuine Parts (NYSE:GPC) reported Q2 adjusted earnings of $2.44 per share, beating the analyst consensus estimate of $2.34 by 4.27%. This is a 10.91% increase from the same period last year. However, the company's quarterly sales of $5.92 billion missed the analyst consensus estimate of $5.96 billion by 0.76%, though it's a 5.59% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:58 am

TRV

Travelers Companies (NYSE:TRV) reported Q2 earnings of $0.06 per share, missing the analyst consensus estimate of $2.08 by 97.12%. This is a 97.67% decrease from the same period last year. However, the company reported quarterly sales of $10.10 billion, beating the analyst consensus estimate of $10.02 billion by 0.78%, a 10.53% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:58 am

USB

U.S. Bancorp (NYSE:USB) reported better-than-expected Q2 sales results with a 19.7% YoY growth to $7.197 billion. The company's shares gained 6.5% to close at $38.91 on Wednesday and added 1.4% in pre-market trading. Following the earnings announcement, B of A Securities and Citigroup increased their price targets on U.S. Bancorp, while Raymond James upgraded the company from Underperform to Market Perform.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 10:53 am

SLG

SL Green Realty Corp's shares are trading lower by around 5% after reporting worse-than-expected Q2 2023 earnings results. The company reported rental revenues of $165.65 million, an increase from $136.5 million a year ago, and total revenues of $221.07 million. However, FFO per share declined from $1.87 a year ago to $1.43. The company also declared a dividend of $3.25 per share in the quarter.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 10:50 am

LAND

NNN

RTL

WSR

Several REITs have announced dividend increases ahead of their Q2 earnings reports. NNN REIT Inc. (NYSE:NNN) increased its quarterly dividend by 2.7% and Gladstone Land Corp. (NASDAQ:LAND) increased its monthly dividend. Necessity Retail REIT Inc. (NASDAQ:RTL) is increasing its quarterly dividend and is set to be acquired by Global Net Lease Inc. (NYSE:GNL) in an all-stock transaction. Whitestone REIT (NYSE:WSR) is also increasing its monthly dividend.

Portfolio Pulse from Ethan Roberts

July 20, 2023 | 10:49 am