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Revenues

AZO

AutoZone Inc (NYSE:AZO) reported a slight miss in Q1 FY24 revenue at $4.19 billion versus the $4.198 billion analyst consensus. Domestic same-store sales grew by 1.2%, and international sales surged by 25.1%, contributing to a total same-store sales increase of 3.4%. Gross margin improved to 52.8%, and operating profit rose 17.4% to $848.6 million. The EPS of $32.55 exceeded expectations. AutoZone repurchased 580 thousand shares for $1.5 billion and ended the quarter with $333.1 million left in its buyback program. The company opened new stores, resulting in a total of 7,165 stores. Shares of AZO are up 1.22% in premarket trading.

Portfolio Pulse from Lekha Gupta

December 05, 2023 | 1:30 pm

NXGL

NEXGEL, Inc. has acquired Kenkoderm, a skincare line specializing in psoriasis treatment, with the aim of expanding its health and wellness consumer product portfolio. The acquisition is expected to be immediately accretive to NEXGEL's profitability, as Kenkoderm has been profitable over the trailing twelve months. NEXGEL plans to optimize marketing and supply chain operations to drive revenue growth and improve margins. Kenkoderm's products are sold primarily through e-commerce and Amazon, often as subscription bundles. NEXGEL's CEO, Adam Levy, intends to implement new marketing strategies and expand distribution channels, including retail. The transaction details can be found in NEXGEL's Form 8-K filed with the SEC on December 5, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:10 pm

DLX

Deluxe Corporation (NYSE:DLX) has reaffirmed its 2023 revenue and adjusted EPS guidance, aligning with consensus estimates. The company also provided its 2024 guidance and introduced the North Star initiative, aiming to increase run-rate free cash flow by $100 million by 2026. For FY24, Deluxe forecasts revenues slightly below consensus and adjusted EBITDA between $400 million and $420 million, with adjusted EPS in the range of $3.10-$3.40, compared to a consensus of $3.34, and anticipates free cash flow of $60 million to $80 million. DLX shares saw a 1.91% increase to close at $19.17 on Monday.

Portfolio Pulse from Nabaparna Bhattacharya

December 05, 2023 | 1:02 pm

VLGEA

Village Super Market (NASDAQ:VLGEA) reported a slight increase in Q1 earnings per share to $0.78, up from $0.76 YoY. Sales also rose to $536.40M, a 3.22% increase from $519.69M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:01 pm

OCEA

Ocean Biomedical announced the publication of breast cancer research that reveals a new tumor suppression pathway for its proprietary Anti-Chi3L1 antibody. This discovery could have significant implications for the treatment of breast cancer.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 12:45 pm

LLY

Eli Lilly and Co announced that its Zepbound (tirzepatide) injection is now available in US pharmacies for adults with obesity or overweight with weight-related medical problems. Following FDA approval on Nov. 8, 2023, Zepbound will be added to Cigna Healthcare's commercial formularies effective December 15. Zepbound is available in six doses and should be used with a reduced-calorie diet and increased physical activity, but not with other tirzepatide-containing products or GLP-1 receptor agonist medicines.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 12:41 pm

DAKT

Daktronics reported a product order backlog of $306.9 million as of October 28, 2023, indicating a significant volume of pending orders for the company.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 12:35 pm

CRNT

Ceragon Networks Ltd. (NASDAQ:CRNT) has completed the acquisition of Siklu, which is expected to increase Ceragon's 2024 revenue by $25M-$29M. The acquisition enhances Ceragon's end-to-end 5G offerings and gives it a stronger position in the millimeter-wave market in North America. The deal is anticipated to be accretive to Ceragon's gross margins and non-GAAP earnings by the second half of 2024, due to Siklu's higher margins and expected synergies. Ceragon has also expanded its total loan credit facility by $5 million to $77 million, with Siklu's primary lender joining Ceragon's lending consortium.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 12:06 pm

AZO

AutoZone, Inc. (NYSE:AZO) reported a 5.1% increase in Q1 revenue to $4.2 billion, with domestic same store sales up 1.2%. International sales saw a significant rise of 25.1% in constant currency. Gross profit margin improved to 52.8%, and net income rose 10.0% to $593.5 million. EPS was $32.55, an 18.6% increase from the previous year. The growth was attributed to non-cash LIFO favorability, favorable supply chain costs, and higher merchandise margins.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 11:58 am

LE

Lands' End has lowered its revenue outlook for FY23 to $1.45B - $1.48B from the previous range of $1.50B - $1.55B, which is below the estimated $1.53B. The company also provided an adjusted EPS forecast of $(0.16) - $(0.07), which is better than the estimated $(0.21).

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 11:54 am