Streetbeat News

Revenues

TILE

Interface has raised its 2024 net sales outlook to $1.30B-$1.32B from the prior $1.29B-$1.31B, surpassing the $1.298B consensus. The company also projects an adjusted gross margin of approximately 36.0% for the full fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:37 am

TILE

Interface Inc. (TILE) has announced its Q3 2024 financial projections, expecting net sales between $330 million and $340 million, an adjusted gross profit margin of approximately 36%, adjusted SG&A expenses of around $86 million, and adjusted interest & other expenses of about $7 million. The fully diluted weighted average share count is projected to be approximately 58.7 million shares.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:35 am

TILE

Interface (NASDAQ:TILE) reported Q2 2024 earnings per share of $0.40, significantly beating the analyst estimate of $0.28. The company also reported sales of $346.6 million, surpassing the estimate of $340.276 million. Both earnings and sales showed substantial year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:32 am

AMZN

META

NVDA

Amazon CEO Andy Jassy highlighted the company's multi-faceted AI strategy during a recent earnings call, emphasizing the role of Amazon Web Services (AWS) and partnerships with companies like Nvidia. Despite advancements in AI, Amazon faces challenges such as declining average selling prices and external factors impacting revenue forecasts.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 9:30 am

FXI

TSLA

Tesla sold 74,117 China-made vehicles in July, marking a 15.3% year-over-year increase, according to the China Passenger Car Association.

Portfolio Pulse from charles@benzinga.com

August 02, 2024 | 9:25 am

AAPL

CRWD

DAL

MSFT

Delta Air Lines CEO Ed Bastian criticized Microsoft's platform for its fragility following a CrowdStrike update that caused a $500M loss for Delta. He praised Apple's stability and mentioned Delta's integration of Apple products. Delta plans to sue Microsoft and CrowdStrike for damages.

Portfolio Pulse from Rounak Jain

August 02, 2024 | 9:25 am

MGA

Magna International has revised its FY24 sales outlook to $42.5B - $44.1B from the previous $42.6B - $44.2B, slightly below the $43.28B estimate. The company has reiterated its adjusted net income forecast at $1.5B - $1.7B.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:06 am

MGA

Magna International (NYSE:MGA) reported Q2 2024 adjusted EPS of $1.35, missing the analyst estimate of $1.44. Sales were $10.958 billion, also missing the estimate of $11.012 billion. This represents a 0.22% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:02 am

AAPL

Apple Inc. (NASDAQ:AAPL) reported record-breaking revenue in India, driven by strong Mac sales. The company's Q3 FY24 revenue reached $85.8 billion, a 5% year-over-year increase. Mac sales rose by 2.46% to $7.01 billion, while iPad sales surged by 23.63% to $7.16 billion. Despite a slight decline in iPhone sales and wearables, Apple's services revenue grew by 14.14% to $24.21 billion.

Portfolio Pulse from Ananthu C U

August 02, 2024 | 8:39 am

CTRE

CareTrust REIT (NASDAQ:CTRE) reported Q2 2024 earnings per share of $0.36, meeting analyst expectations. The company also reported sales of $68.891 million, surpassing the analyst estimate of $54.220 million by 27.06%, and marking a 33.63% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 7:42 am