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Revenues

PSN

Parsons Corporation has agreed to acquire BCC Engineering, LLC for $230 million in an all-cash transaction. BCC, a full-service engineering firm, will be integrated into Parsons' North America Infrastructure business unit. The acquisition aligns with Parsons' strategy of acquiring high-growth companies and is expected to be accretive to revenue growth and adjusted EBITDA margins.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:31 am

ROAD

Construction Partners projects FY25 revenue between $2.42B and $2.52B, surpassing estimates of $2.09B. The company anticipates net income of $90M to $106M and adjusted EBITDA of $338M to $368M, with a margin of 14.0% to 14.6%. These projections include results from Asphalt Inc., LLC.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:11 am

ISTR

Investar Holding reported a Q3 2024 adjusted EPS of $(0.45), missing the estimate of $0.33. However, their sales were $21.4M, surpassing the expected $19.6M.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:11 am

WBD

Sky Network Television and Warner Bros. Discovery have expanded their partnership, making Sky the exclusive home of Max in New Zealand. The agreement involves a non-cash programming amortisation of $6-$7m and a cash payment of $4-$5m from WBD, impacting Free Cash Flow in H1 FY25.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:10 am

ROAD

Construction Partners has reported preliminary fiscal year 2024 revenue estimates of $1.821B to $1.825B, which is below the previous estimate of $1.843B. Despite this, net income and adjusted EBITDA are expected to increase significantly compared to fiscal 2023. The company also anticipates a higher project backlog by the end of September 2024.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:09 am

ROAD

Construction Partners, Inc. (CPI) has agreed to acquire Asphalt Inc., LLC, known as Lone Star Paving, for $654 million in cash and 3 million shares of Class A Common Stock. This acquisition is expected to be immediately accretive to earnings and contribute significantly to CPI's revenue and EBITDA by fiscal 2025. The transaction is anticipated to close in the first quarter of CPI's 2025 fiscal year.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:05 am

SDVKY

Sandvik's Q3 order intake was flat year-on-year but grew 4% at constant exchange rates, with 2% organic growth. Revenues declined by 4%, but grew 1% at fixed rates. Mining demand remains strong, while infrastructure and cutting tools face challenges.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 9:40 am

HON

Honeywell's 33rd annual Global Business Aviation Outlook projects a demand for 8,500 new business jets valued at $280 billion over the next decade, with 2025 deliveries expected to be 12% higher than 2024. The demand is significantly above pre-pandemic levels, with large jets accounting for two-thirds of expenditures.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:13 am

BAC

Bank of America has extended its guaranteed foreign exchange rates for cross-border payments to one year, enhancing risk management for clients. This move follows growth in cross-border payments and the bank being named the world's best for FX payments.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:08 am

GOOGL

META

Perplexity, an AI startup backed by Jeff Bezos, is seeking to raise its valuation to $8 billion in a new funding round, aiming to secure $500 million. The company, which has seen rapid growth, is challenging Google's dominance in digital ads and is in talks with major brands like Nike and Marriott.

Portfolio Pulse from Benzinga Neuro

October 21, 2024 | 2:26 am