Streetbeat News

Revenues

MMC

Marsh & McLennan reported Q2 2024 adjusted EPS of $2.41, beating the estimate of $2.40. However, sales were $6.221 billion, missing the estimate of $6.306 billion.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 11:04 am

VIRT

Virtu Financial (NASDAQ: VIRT) reported strong Q2 earnings, with adjusted EPS of $0.83 beating estimates by 38.33% and a 124.32% increase from last year. Quarterly sales of $385.08M also surpassed estimates by 16.14%, marking a 38.18% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 11:03 am

PWR

Quanta Services estimates that Cupertino Electric will contribute revenues of $2.325B-$2.425B, adjusted EBITDA of $175M-$195M, and adjusted EPS of $0.40-$0.50 for the full year of 2025.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 11:02 am

NOK

T

Nokia Corp (NYSE:NOK) reported a significant decline in Q2 2024 net sales, missing analyst estimates and leading to a stock price drop. The company is facing challenges in the 5G equipment market and has revised its annual outlook downward. Nokia's network infrastructure division is undergoing an overhaul, and the company is making strategic moves, including a $2.3 billion investment in AI-driven data center services and plans to sell its undersea cable business. Despite some positive aspects like improved margins and a dividend distribution, the overall outlook remains cautious.

Portfolio Pulse from Anusuya Lahiri

July 18, 2024 | 11:00 am

PWR

Quanta Services estimates that Cupertino Electric will contribute $1B-$1.1B in revenues and $80M-$90M in adjusted EBITDA for the remainder of 2024.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 11:00 am

BX

Blackstone reported its Q2 2024 results with distributable EPS of $0.96 and total revenues of $2.796 billion.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:59 am

PWR

Quanta Services has completed the acquisition of Cupertino Electric for approximately $1.54 billion, consisting of $1.3 billion in cash and 883,000 shares of Quanta stock valued at $225 million. There is also a potential earnout payment of up to $200 million based on financial performance targets. Quanta expects this acquisition to significantly enhance its financial profile, including revenues, adjusted EBITDA, free cash flow, returns, and earnings per share.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:59 am

BKU

BankUnited (NYSE:BKU) reported Q2 earnings of $0.72 per share, beating the analyst estimate of $0.71. Sales were $250.21 million, surpassing the $243.64 million estimate. Despite the beats, EPS decreased by 7.69% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:47 am

DHI

D.R. Horton has revised its 2024 consolidated revenues guidance to $36.8B-$37.2B from the previous range of $36.7B-$37.7B, with an estimated $36.96B. The company also updated its homes closed by homebuilding operations to 90,000-90,500 from 89,000-91,000.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:40 am

FOR

Forestar Group (FOR) has provided its fiscal 2024 revenue guidance, expecting to generate between $1.4 billion and $1.5 billion, slightly below the consensus of $1.505 billion. The company also anticipates delivering between 14,600 and 15,100 lots, adjusting its previous guidance of 14,500 to 15,500 lots.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:37 am