Streetbeat News

Earnings

LEVI

Levi Strauss & Co's Q2 revenue decreased 9% YoY to $1.337 billion, narrowly missing the consensus estimate of $1.34 billion. The company reported quarterly adjusted earnings of 4 cents per share, beating analyst estimates of 3 cents per share. Inventories increased 18% YoY, and the company ended the quarter with $472 million in cash and equivalents, and total liquidity of $1.3 billion. Levi expects full-year 2023 net revenues to grow between 1.5% and 2.5%, and earnings to be between $1.10 and $1.20 per share. The company's shares were down 7.10% after hours.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 9:02 pm

RIOT

Riot Platforms, Inc. (NASDAQ:RIOT) has released its production and operations updates for June 2023. The company mined 460 Bitcoin in June, a 9% increase year-on-year but a 32% decrease from May 2023. Riot also announced an initial order of 33,280 MicroBT miners for its Corsicana Facility, which is expected to add 7.6 EH/s to its self-mining fleet. The company's power strategy, which involves selling power back into the grid during periods of peak demand, generated $8.4 million in power sales and $1.6 million in demand response revenue in June.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:46 pm

SIF

SIFCO Industries reported Q1 losses of $(0.44) per share, a 31.25% improvement from $(0.64) per share YoY. Sales also increased by 10.66% to $21.30 million from $19.25 million YoY.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:44 pm

UONE

Urban One (NASDAQ:UONE) reported Q4 earnings of $0.02 per share, a decrease of 83.33% YoY. However, the company's sales increased by 1.25% YoY to $132.60 million.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:38 pm

LEVI

Levi Strauss & Co reported a decline in Q2 margins and issued a softer EPS guidance for FY23. The company also noted an 18% increase in inventories on a dollar basis, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:33 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) shares closed down 2.3% at $96.20, marking its lowest closing price of the year. The stock has been trending lower since the company's fiscal second-quarter results. Despite beating expectations for Q2, the company maintained a cautious outlook, which has weighed on shares. Starbucks CFO Rachel Ruggeri noted that sales growth in China is expected to moderate in the second half of the year.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 8:31 pm

ABBV

AbbVie has projected its FY23 adjusted EPS, including the Q2 impact of acquired IPR&D and milestones expense, to be between $10.57 and $10.97. The company also expects its Q2 adjusted EPS, including the impact of acquired IPR&D and milestones expense, to be between $2.75 and $2.85.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:24 pm

ABBV

AbbVie has announced that its Q2 GAAP and non-GAAP earnings will include an acquired IPR&D and milestones expense of $28M on a pre-tax basis. The company's Q2 adjusted EPS guidance range, which includes the impact of the acquired IPR&D and milestones expense, is $2.75-$2.85.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:22 pm

SLP

Simulations Plus (NASDAQ:SLP) reported its Q3 earnings results, with an in-line EPS of $0.2. Revenue was up $1.27 million from the same period last year. Last quarter, the company beat on EPS by $0.02, which was followed by a 1.12% increase in the share price the next day.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 8:20 pm

COST

Costco Wholesale has reported its June sales results, with net sales reaching $22.86 billion. The company also reported net sales of $196.93 billion for the 44 weeks ended July 2.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:18 pm