Streetbeat News

Revenues

WDC

Western Digital Corporation (NASDAQ:WDC) reported Q2 financial results with adjusted losses of $0.69 per share, surpassing analyst estimates of a $1.13 loss per share. Sales reached $3.03 billion, slightly above the $2.99 billion estimate but down 2.4% year-over-year. Consumer revenue grew 15% QoQ, while cloud revenue increased 23% QoQ. The company forecasts Q3 revenue between $3.20 billion and $3.40 billion, with adjusted EPS ranging from a $0.10 loss to a $0.20 gain. WDC shares dropped 3.88% after hours to $57.99.

Portfolio Pulse from Erica Kollmann

January 25, 2024 | 9:35 pm

GBCI

Glacier Bancorp (NYSE:GBCI) reported Q4 sales of $166.46M, missing the consensus estimate of $167.16M by 0.42%. Sales decreased by 18.43% compared to the same period last year, where sales were $204.06M.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:35 pm

SPI

SPI Energy Co., Ltd. (NASDAQ:SPI) has updated its fiscal 2023 revenue guidance to $204M-$214M due to solar project development sales being delayed into 2024. Despite this, the company remains confident in its profitability and growth, citing strong performance in its Australian and New Zealand solar and battery distribution business, profitable US solar module manufacturing operations, progress in solar project development in Massachusetts, Hawaii, and Oregon, and successful independent solar power production in Greece, Italy, and the UK.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:33 pm

LHX

L3Harris Technologies has provided revenue guidance for 2024, projecting revenues of $20.7 billion to $21.3 billion, which is below the estimated $21.45 billion. The company also forecasts adjusted earnings per share (EPS) to be between $12.40 and $12.80, which is lower than the estimated $13.14.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:20 pm

ES

ORSTED.CO

Ørsted and Eversource have submitted a new proposal for the Sunrise Wind project in response to New York's offshore wind solicitation. The updated project, delivering up to 924 megawatts of clean energy, is expected to complete in 2026 and is crucial for New York's renewable energy goals. Ørsted aims to become the sole owner of Sunrise Wind if the re-bid is successful, acquiring Eversource's 50% share. The project has secured major supplier and labor agreements, with final federal permits anticipated this summer. It has broad support and is making significant investments in New York's offshore wind workforce and supply chain.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:19 pm

FISI

Financial Institutions (NASDAQ:FISI) reported Q4 earnings of $0.61 per share, missing the consensus estimate of $0.71 by 14.08%. Year-over-year, earnings decreased by 19.74% from $0.76 per share. Quarterly sales were $39.89M, falling short of the $40.32M estimate by 1.08% and representing a 7.56% decrease from the previous year's $43.15M.

Portfolio Pulse from mahesh@benzinga.com

January 25, 2024 | 9:18 pm

AJG

Arthur J. Gallagher (NYSE:AJG) reported Q4 2023 earnings of $1.85 per share, meeting analyst consensus estimates. Quarterly sales were $2.43B, surpassing the $2.36B estimate by 2.88% and marking a 19.87% increase from $2.03B in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:18 pm

AJG

Arthur J. Gallagher (NYSE:AJG) reported Q4 sales of $2.43 billion, surpassing the analyst consensus estimate of $2.36 billion by 2.88% and marking a 19.87% increase from $2.03 billion in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:17 pm

TBBK

Bancorp (NASDAQ:TBBK) reported Q4 adjusted EPS of $0.95, meeting analyst estimates, and sales of $92.16M, surpassing the $90.65M forecast. This represents a 33.8% increase in earnings and a 20.06% increase in sales compared to the same period last year.

Portfolio Pulse from totan@benzinga.com

January 25, 2024 | 9:12 pm

LLY

NVO

Eli Lilly's diabetes and weight management drug Mounjaro, known as tirzepatide, has been approved by the UK's MHRA for use with a prefilled injection pen called Mounjaro KwikPen. The approval comes as the UK faces shortages of Novo Nordisk's Ozempic, a similar medication. Mounjaro KwikPen is indicated for adults with type 2 diabetes and for weight management in obese or overweight adults with related health issues. Eli Lilly plans to expand Mounjaro's availability and manufacturing capacity.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 9:12 pm