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Revenues

SCS

Steelcase Inc. (NYSE:SCS) stock fell in after-hours trading following the release of their mixed Q3 financial results. While adjusted earnings per share of $0.30 exceeded analyst estimates of $0.23, revenue of $777.9 million fell short of the expected $796.425 million. The company saw a 6% decline in revenue compared to the previous year but reported a 15% increase in orders. Steelcase anticipates Q4 adjusted earnings per share to be between $0.19 and $0.23, with revenue projections of $765 million to $790 million, compared to an estimate of $789.05 million. The company's liquidity improved, reaching $424.6 million.

Portfolio Pulse from Ryan Gustafson

December 19, 2023 | 10:16 pm

MMV

MultiMetaVerse (MMV) reported a total net revenue of $5.5 million for the half year, marking a 31% decrease compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:05 pm

CCO

Clear Channel Outdoor has reaffirmed its guidance for both the fourth quarter and the full year of 2023, indicating confidence in meeting its financial targets.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:47 pm

GM

General Motors (GM) has reduced its Buick dealership network in the U.S. by about half through a voluntary buyout program, aiming to increase sales per location and profits. The program has cost GM approximately $1 billion and will continue into the next year. The reduction is also part of Buick's transition to exclusively offering electric vehicles (EVs) by 2030. Buick's U.S. sales have increased by 63% through the third quarter compared to the previous year, and the introduction of the new Envista crossover is expected to further boost sales.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:44 pm

CPK

Chesapeake Utilities Corporation's subsidiary, Sharp Energy, has acquired the propane operating assets of J.T. Lee and Son's in North Carolina. This acquisition adds approximately 3,000 customers and 800,000 gallons of propane distribution annually, along with a bulk plant with 60,000 gallons of storage. The deal is expected to bring cost savings and synergies due to an expanded service area in Wilmington.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:37 pm

PEAK

Healthpeak Properties, Inc. (NYSE:PEAK) has received entitlements to develop an additional 1.3 million square feet of lab space at the Vantage campus in South San Francisco, doubling the allowable density since the land acquisition. The campus will total approximately 1.7 million square feet upon completion. Phase I is underway with 52% already leased to Astellas Pharma. The development aligns with market demand and strengthens South San Francisco's biotech industry presence.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:34 pm

EPAC

Enerpac Tool Group has confirmed its revenue forecast for FY24 to be between $590 million and $605 million, which is in line with the estimated $603.1 million.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:34 pm

MOS

The Mosaic Company (NYSE:MOS) reported its sales volumes and revenue for October and November 2023, with potash and phosphates sales volumes increasing compared to the same period in 2022, but revenues decreased. For Q4, potash sales volumes and MOP prices are expected to be at the lower end of the guidance range, and phosphates sales volumes are also expected to be at the lower end. Dry weather in Brazil poses risks to fertilizer shipments in Q4.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:29 pm

FDX

FedEx maintains its adjusted earnings outlook for the fiscal year, expecting EPS of $17.00-$18.50, which is in line with the $18.25 estimate. The company anticipates a low-single-digit percentage decline in revenue year over year and projects capital spending of $5.7 billion focused on efficiency improvements. FedEx is unable to provide a GAAP EPS or ETR outlook for fiscal 2024 due to uncertainties in mark-to-market retirement plan adjustments.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:09 pm

NISN

NiSun International Enterprise Development Group reported a decrease in H1 EPS to $2.87 from $3.67 year-over-year, while revenue increased to $126.9M from $118.0M in the same period.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:07 pm