Streetbeat News

Revenues

TRI

Thomson Reuters has updated its FY24 revenue growth forecast to a range of 6.5%-7% from a previous estimate of 6.5%, and now expects free cash flow to reach $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:43 am

MRNA

Moderna has reaffirmed its 2024 revenue forecast for its respiratory franchise at approximately $4B, slightly below the consensus estimate of $4.21B. The company also expects around $0.3B in net sales for the first half of 2024, highlighting the seasonal nature of the respiratory business.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:37 am

VNT

Vontier forecasts FY24 sales to be between $3.040B and $3.100B, aligning closely with the $3.096B estimate. The company also reiterated its adjusted EPS guidance of $3.00 to $3.15, which is in line with the $3.12 estimate. Key highlights include a core sales growth of 4 to 6%, an adjusted operating profit margin expansion of 80 to 110 basis points year-over-year, and an adjusted free cash flow conversion of approximately 90 to 100%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:37 am

UTZ

Utz Brands has reaffirmed its financial outlook for FY24, projecting an organic net sales growth of approximately 3% or better and an adjusted EBITDA growth of 5% to 8%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:36 am

CRNT

Ceragon Networks has finalized new deals worth nearly $10M in the energy sector across multiple regions for Q1 2024, marking its highest-ever quarterly booking for this sector.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:22 am

ARES

Ares Management (NYSE:ARES) reported Q1 2024 sales of $687.692M, missing the consensus estimate of $798.527M by 13.88%, but marking a 14.52% increase from the previous year's sales of $600.516M.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:14 am

ECVT

Ecovyst has reaffirmed its fiscal year 2024 revenue forecast to be in the range of $715 million to $755 million, with an expected adjusted EBITDA of $255 million to $275 million.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:11 am

MNTX

Manitex International has reaffirmed its fiscal year 2024 revenue forecast to be in the range of $300 million to $310 million, aligning closely with the analyst estimate of $305.6 million. Additionally, the company anticipates its total adjusted EBITDA margin to be between 10.1% and 10.5%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:08 am

EXLS

ExlService projects its FY24 revenue to be between $1.79 billion and $1.82 billion, surpassing the estimated $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:07 am

CGNX

Cognex projects Q2 2024 revenue to be between $230M-$245M, indicating a sequential increase from Q1 due to typical consumer electronics seasonality. Adjusted gross margin is expected to slightly exceed 70%, up from 68.8% in Q1, with operating expenses to rise by low to mid-single digits due to investment in the Emerging Customer initiative. The adjusted effective tax rate is anticipated to be 16%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:06 am