Streetbeat News

Earnings

AVTBF

Avant Brands Inc reported a 96% YoY increase in Q2 FY23 net revenue, reaching CA$8 million ($6 million). The company also saw a 294% increase in gross profit and a positive shift in adjusted EBITDA. Avant completed the closing of a CA$3.5 million credit facility, secured by the company's non-operational and non-licensed real property. The company is also facing a claim from Desjardins Securities Inc. for alleged damages of approximately CA$1 million for breach of contract.

Portfolio Pulse from Vuk Zdinjak

July 18, 2023 | 12:20 pm

PNC

PNC Financial Services Group Inc. reported mixed Q2 financial results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 12:17 pm

MASI

Masimo Corporation reported weak preliminary Q2 revenue results, leading to a 28% dip in pre-market trading. The company also reduced its revenue guidance for 2023. Following the announcement, Stifel and Needham analysts cut their price targets on Masimo.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 12:12 pm

ASRV

AmeriServ Financial reported Q2 losses of $(0.01) per share, a 108.33% decrease from the same period last year when it reported earnings of $0.12 per share.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 12:06 pm

BAC

Bank of America Corp (NYSE:BAC) reported a 19% YoY increase in Q2 FY23 net income to $7.4 billion, surpassing Street expectations. EPS was $0.88, beating the consensus of $0.84. Revenue rose 11% YoY to $25.33 billion, also beating the consensus. Segment net income varied, with Global Banking seeing a 76% YoY increase. The bank's CET1 ratio was 11.6%, up 110 bps from a year ago. BAC shares are trading higher by 0.51% at $29.55 premarket.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 12:06 pm

PLD

Prologis has revised its FY23 core FFO guidance upwards to $5.56-$5.60 from $5.42-$5.50. The company also increased its EPS guidance to $3.30-$3.40 from the previous $3.10-$3.25.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 12:05 pm

PLD

Prologis reported Q2 earnings of $1.83 per share, a 64.86% increase YoY. However, the company's quarterly sales of $1.65 billion missed the analyst consensus estimate of $1.69 billion by 2.25%.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 12:02 pm

SCHW

Charles Schwab Corporation's Q2 net interest revenue fell to $2.29 billion from $2.54 billion.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:51 am

SCHW

Charles Schwab reported Q2 earnings of $0.75 per share, beating the analyst consensus estimate of $0.71 by 5.63%. The company's quarterly sales were $4.66 billion, surpassing the analyst consensus estimate of $4.61 billion by 1.00%. However, both earnings and sales have decreased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:49 am

FBK

FB Financial Corp (NYSE:FBK) reported Q2 core revenue of $125.7 million, missing the consensus of $128.3 million. However, adjusted EPS stood at $0.77, beating the consensus of $0.65. The company's net interest margin decreased due to lower loan balances, and non-interest income also decreased due to higher interest rates. Despite these challenges, the company's deposits and loans held for investment increased compared to the prior year. FBK shares are trading higher by 9.4% in premarket trading.

Portfolio Pulse from Lekha Gupta

July 18, 2023 | 11:42 am