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Revenues

AGI

Alamos Gold Inc. (NYSE:AGI) reported record annual gold production of 529,300 ounces for 2023, a 15% increase from 2022, and provided a three-year production and operating guidance. The company expects production growth and declining costs over the next few years, with a 7% growth anticipated by 2026. The Phase 3+ Expansion at Island Gold is on track, and the company is advancing other growth initiatives, including the development plan for PDA and Lynn Lake. Alamos Gold ended 2023 with strong financial performance, generating record revenues of $1.0 billion and increasing its cash position to $225 million while remaining debt-free. The company has increased its 2024 production guidance and expects total cash costs and AISC to remain flat in 2024 and decrease by 2026. Capital spending is projected to decrease by 46% by 2026 at existing operations. Alamos Gold has also increased its exploration budget to the highest level in its history.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:04 pm

CLVR

CRON

OGI

VFF

British Columbia's legal cannabis market has seen a 40.9% increase in sales volume, but faces challenges such as an 11.7% decline in average prices and increased competition with 490 legal stores now operating. OrganiGram Holdings Inc (OGI), Rubicon, Village Farms International Inc (VFF), and Cronos Group Inc (CRON) are key players in the market. Australia's TGA has updated medicinal cannabis advertising guidelines, and Clever Leaves Holdings Inc. (CLVR) received Australian GMP certification for its Colombian facilities. Antigua and Barbuda's cannabis committee is reviewing legislation with a focus on youth impact.

Portfolio Pulse from Joana Scopel

January 10, 2024 | 10:03 pm

KINS

Kingstone Companies, Inc. CEO Meryl Golden issued a letter to shareholders reviewing 2023 accomplishments and 2024 expectations. The company faced macro-economic challenges in 2023 but anticipates positive changes in 2024, including abating inflation, declining reinsurance rates, and falling interest rates. Kingstone's Non-Core business outside New York is expected to reduce its impact on the loss ratio from 7.2% in 2023 to 2.8% in 2024. The company has also achieved a significant reduction in its expense ratio, which is forecasted to drop from 36% in 2022 to 29% in 2024. Personal lines average premiums are expected to increase, leading to wider margins and higher underwriting profits.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:59 pm

PSTL

Postal Realty Trust reported that for Q4, they collected 100% of their contractual rents. This indicates strong performance in terms of revenue collection for the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:52 pm

PSTL

Postal Realty Trust reported that for Q4, it collected only 10% of its contractual rents, indicating a significant shortfall in revenue collection for the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:52 pm

TTGT

Informa PLC is set to contribute Informa Tech's digital businesses and $350M cash for a 57% stake in a new entity, New TechTarget. The deal anticipates FY23 revenue of $230M and Adjusted EBITDA of $70M for TechTarget. New TechTarget is expected to generate $275M in revenue and $50M in Adjusted EBITDA in 2024. The plan includes double-digit organic revenue growth, 50% revenue under long-term contracts, and 35%+ Adjusted EBITDA margins within three years. The new entity aims for $1 billion annual revenue within five years and forecasts $45M in EBITDA synergies within three years. The headquarters will be in Newton, Massachusetts, with Gary Nugent as CEO. The transaction, approved by both boards, is expected to close in the second half of 2024, subject to shareholder and regulatory approvals. New TechTarget will trade on NASDAQ under the symbol TTGT.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:37 pm

TTGT

TechTarget (NASDAQ:TTGT) and Informa PLC (LSE: INF.L) have announced a definitive agreement to combine Informa Tech's digital businesses with TechTarget, creating a new entity, New TechTarget. TechTarget shareholders will receive approximately $11.79 per share in cash and retain a 43% stake in the new company. Informa PLC will contribute its digital businesses and $350 million in cash for a 57% stake in New TechTarget. The combined company is expected to achieve double-digit organic revenue growth, 35%+ Adjusted EBITDA margins, and strong free cash flow within three years. The merger aims to create a leading global platform in B2B Data and Market Access, expanding TechTarget's addressable market and enhancing business resilience by entering new markets and buyer personas.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:37 pm

ITGR

Integer Holdings Corporation (NYSE:ITGR) announced preliminary Q4 2023 sales of $411M-$413M, exceeding estimates of $404.69M, and FY23 revenue of $1.595B-$1.597B, surpassing the $1.59B estimate. Sales increased by 16% from 2022. Integer also acquired Pulse Technologies for $140M, expected to be accretive to sales growth and EBITDA margin. Pulse's FY23 sales are estimated at $42M with $11M adjusted EBITDA. The acquisition aligns with Integer's growth strategy in medical device manufacturing. A conference call is scheduled for February 15, 2024, to discuss Q4 and full year results.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:33 pm

GMED

Globus Medical announced preliminary FY23 revenue of $1.567 billion, surpassing the estimate of $1.55 billion.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:32 pm

GMED

Globus Medical announced preliminary Q4 revenue of approximately $615.5 million, surpassing the estimated $602.26 million.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:31 pm