Streetbeat News

Earnings

SURG

SurgePays, Inc. (NASDAQ:SURG) has responded to a recent report containing errors and misleading content, stating it is a deliberate attempt to undermine the company's work. The company confirmed its compliance with the Affordable Connectivity Program and stated that its accounting records are accurate. The company expects to report a net income of over $6 million in the second quarter.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 12:33 pm

CTAS

Cintas (NASDAQ:CTAS) reported Q4 earnings of $3.33 per share, beating the analyst consensus estimate of $3.19 by 4.39%. This is an 18.51% increase from the same period last year. The company also reported quarterly sales of $2.28 billion, beating the analyst consensus estimate of $2.26 billion by 1.06%, a 10.07% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:31 pm

PGR

Progressive's Q2 earnings per share (EPS) of $0.57 missed the analyst consensus estimate of $0.87 by 34.48%, a 48.18% decrease from the same period last year. Net premiums written of $14.72 billion also missed the estimate of $14.98 billion by 1.74%, though this is a 21.17% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:26 pm

CAG

Conagra Brands has revised its FY24 adjusted EPS forecast to $2.70 - $2.75, down from the previous estimate of $2.85.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:23 pm

DAL

Delta Air Lines Inc (NYSE:DAL) shares rose over 4% following the release of its Q2 results, which exceeded analyst expectations. The company reported a 19% YoY growth in adjusted operating revenue to $14.61 billion, beating the consensus of $14.46 billion. Adjusted EPS was $2.68, above the consensus of $2.39. Total passenger revenue increased 21% YoY to $13.21 billion, while cargo revenue decreased 37% YoY to $172 million. The company expects total revenue to be similar to the June quarter, up 11% to 14% compared to the September quarter 2022.

Portfolio Pulse from Akanksha Bakshi

July 13, 2023 | 12:18 pm

SOTK

Sono-Tek Corporation (NASDAQ:SOTK) reported Q1 2024 financial results, with net sales of $3.6 million, a decrease of 11% due to vendor delays. However, the company reported a record backlog of $9.96 million, a 17% increase from the preceding quarter, and a YoY increase of 135%. The company expects substantial sales growth in Q2 and FY2024 due to the record backlog and improvements in supply chain issues.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 12:11 pm

SNAX

Stryve Foods has announced its preliminary Q2 net revenue to be between $5.8M and $6.0M. The actual figures are yet to be compared with the estimated values.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:04 pm

NTIC

Northern Technologies (NASDAQ:NTIC) reported Q3 adjusted earnings of $0.17 per share, missing the analyst consensus estimate of $0.19 by 10.53%. However, the company's quarterly sales of $20.97 million beat the analyst consensus estimate of $20.60 million by 1.80%. This represents a 41.67% increase in earnings and a 10.57% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:03 pm

BGI

EBET

GNLN

The article lists three consumer stocks that are currently oversold and could present buying opportunities. These include Birks Group Inc. (BGI), Greenlane Holdings, Inc. (GNLN), and EBET, Inc. (EBET). Birks Group reported a 2.9% growth in comparable store sales for the year ended March 25, 2023, despite economic headwinds. Greenlane Holdings recently announced a $4 million public offering. EBET, Inc. received a limited waiver of some financial covenants until June 30, 2023.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 11:58 am

FAST

Fastenal Company (NASDAQ:FAST) reported Q2 sales growth of 5.9% Y/Y to $1.88 billion, slightly missing the consensus of $1.89 billion. The company's gross profit margin contracted to 45.5% from 46.5% a year ago due to a less favorable customer and product mix and higher overhead expenses. Q2 EPS of $0.52 missed the consensus of $0.53. The company declared a dividend per share of $0.35. FAST shares are trading lower by 2.93% at $57.01 premarket.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 11:51 am