Streetbeat News

Revenues

MATV

Mativ announced organizational realignment initiatives, planning to reorganize into two new segments starting in Q1 2024. The company anticipates an annualized run-rate of $20 million in overhead cost reduction in 2024 and an additional $20 million by the end of 2026, aiming for a total reduction of overhead costs by about 15% over the period.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:37 pm

LVRO

Lavoro (LVRO) has projected its FY24 revenue to be between $2.00 billion and $2.30 billion, which brackets the current analyst estimate of $2.08 billion.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:36 pm

FNLC

The First Bancorp reported a 9.3% year-over-year growth in total deposits, reaching $2.6 billion in 2023.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:36 pm

AMSC

American Superconductor (AMSC) shares surged following the release of their Q3 financial results, which exceeded expectations. Additionally, the company's Q4 revenue guidance was higher than analysts' estimates, further boosting investor confidence.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:35 pm

LVRO

Lavoro (NASDAQ:LVRO) reported Q1 sales of $483.10M, surpassing the consensus estimate of $336.33M by 43.64% and marking a 31.76% increase from $366.65M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:34 pm

TSLA

Tesla Inc (NASDAQ:TSLA) reported Q4 earnings with a revenue of $25.17 billion, missing the consensus estimate of $25.62 billion. EPS was 71 cents, below the estimate of 74 cents. Automotive revenue increased by 1% YOY, and the Model Y was the best-selling vehicle globally in 2023. Operating margins decreased to 8.2%. Solar deployments were down 59% YOY, while energy storage increased by 30%. Annual production reached a 2 million vehicle run rate. Tesla ended Q4 with $29.1 billion in cash and anticipates slower growth in 2024 due to the next-gen vehicle launch. After the report, TSLA shares dropped 3% in after-hours trading.

Portfolio Pulse from Chris Katje

January 24, 2024 | 9:27 pm

PLXS

Plexus Corp. provided its Q2 2024 earnings guidance with a GAAP EPS range of $0.48-$0.63 and revenue projections of $930M-$970M, which is below the estimated $1.01B.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:26 pm

ADES

Advanced Emissions Solutions, Inc. (ADES) has signed a contract with Wieland Davco Corporation for the construction of a Granular Activated Carbon (GAC) facility at its Red River plant in Louisiana. The project, expected to be mechanically complete by Q4 2024, has seen a cost increase of about 20% due to inflation and timing issues, with total costs estimated between $45-50 million. ADES plans to fund the increase with existing capital, 2024 cashflow, and cost reductions. The company's Corbin facility in Kentucky is on track, with commissioning starting in March 2024. ADES anticipates securing sales contracts for the GAC market ahead of the project's completion.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:24 pm

PLXS

Plexus Corp. (NASDAQ:PLXS) reported Q1 2024 earnings per share (EPS) of $1.04, which was in line with analyst expectations. However, the company's quarterly sales of $983.00 million fell short of the consensus estimate of $987.63 million by 0.47%. This represents a 10.15% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:22 pm

URI

United Rentals forecasts its FY24 revenue to be between $14.65B and $15.15B, which brackets the analyst estimate of $14.805B.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:18 pm