Burlington Stores, Inc. has reported impressive second-quarter fiscal 2024 results, exceeding both sales and earnings expectations. The company’s strong performance was driven by strategic initiatives like store expansion, merchandise optimization, and supply chain enhancements. Burlington Stores has also raised its fiscal 2024 outlook based on these positive trends.
Check Point Software (NASDAQ: CHKP) today announced its financial results for the first quarter of 2023, surpassing analyst expectations with earnings per share (EPS) of $2.04 and revenue of $598.8M. Analysts had anticipated EPS of $2.01 and revenue of $594.94M. In the past three months, the company’s stock price has increased by 0.89%. Despite 16 negative EPS revisions in the last 90 days, Check Point Software has also received 10 positive EPS revisions during the same period.
RFID manufacturer Impinj (NASDAQ: PI) reported better-than-expected Q1 CY2024 results, with revenue down a modest 10.6% year-over-year to $76.83 million and non-GAAP earnings per share (EPS) of $0.21, beating estimates by $0.10. Notably, the company’s revenue guidance for Q2 CY2024 was surprisingly strong at $97.5 million, well above analyst estimates and indicating an expected revenue growth of 23.4%. Impinj’s gross margin declined slightly to 48.9% from 50.7% in the same quarter last year, while inventory days outstanding improved to 203 from 240 in the previous quarter. The company achieved a positive free cash flow of $53.94 million, a significant improvement from the negative $1.20 million in the previous quarter. With Impinj’s strong earnings and robust guidance, investors may consider this an opportune time to evaluate the company’s stock, which has gained 14.3% since the earnings report and currently trades around $138 per share.
ServiceNow (NOW) reported impressive first-quarter financial results, surpassing analyst estimates and demonstrating continued growth. Quarterly earnings per share reached $3.41, exceeding the consensus estimate of $3.14, while sales hit $2.6 billion, beating the anticipated $2.59 billion. The company’s subscription revenue growth reached 25% year-over-year, while net new ACV transactions over $5 million increased by 100%. ServiceNow’s CEO attributes the success to its investments in AI technology and the trust customers have placed in the platform.
Thermo Fisher Scientific (NYSE: TMO) reported strong first-quarter results, with adjusted earnings per share (EPS) and revenue surpassing analysts’ estimates. The company’s revenue of $10.34 billion exceeded expectations of $10.16 billion, while adjusted EPS of $5.11 outperformed the estimate of $4.71. Despite a 3% revenue decline year-over-year, Thermo Fisher posted a 2% increase in adjusted EPS and a 4% growth in GAAP diluted EPS. Chairman and CEO Marc N. Casper attributed the success to the company’s growth strategy and PPI Business System, emphasizing customer success, commercial execution, and operational discipline. Thermo Fisher has raised its full-year guidance, expecting revenue between $42.3 billion and $43.3 billion and adjusted EPS between $21.14 and $22.02. The company’s proactive capital deployment included a $3.0 billion stock repurchase and an 11% dividend increase, reflecting its confidence in its financial strength and commitment to shareholder value.
Visa, Inc. reported strong financial results for the second quarter of 2023, surpassing analyst estimates for both earnings and revenue.
Adjusted earnings per share came in at $2.51, exceeding the consensus estimate of $2.44 by 2.87%. Quarterly revenues reached $8.775 billion, surpassing the consensus estimate of $8.627 billion by 1.72% and marking a 9.89% increase from the same period last year.
Payments volume increased by 8% over the prior year on a constant-dollar basis, contributing to the strong revenue growth.
Looking ahead, Visa expects continued growth in the third quarter, with net revenue growth projected in the low double digits and earnings per share growth in the high end of the low double digits. The company anticipates similar growth for the full year 2024.
Seagate Technology exceeded market expectations in its third-quarter fiscal 2024 results, with earnings per share surpassing estimates and prompting a rise in share price. The company’s non-GAAP earnings per share reached $0.33, above the consensus forecast of $0.26. Revenue came in line with market projections at $1.66 billion. Seagate’s strong performance was attributed to improving cloud demand, effective cost management, and successful pricing strategies. The company also declared a quarterly cash dividend of $0.70 per share and anticipates continued growth in the current quarter. Additionally, Seagate sold certain intellectual property and assets related to system-on-chip products to Avago Technologies for $600 million.
RTX Corporation (RTX) reported solid financial results for the first quarter of fiscal year 2024, with adjusted net sales growing 12% year-over-year (Y/Y) to $19.3 billion, exceeding analyst expectations of $18.4 billion. The company’s operating segments, Collins Aerospace, Pratt & Whitney, and Raytheon, all contributed to the overall growth.
Spotify’s stock soared by nearly 17% after the company exceeded expectations in its latest earnings report and provided optimistic guidance for the upcoming quarter. The stock reached a 52-week high, with shares rising 16.8% to $318 per share during afternoon trading. The audio streaming giant has implemented price increases within the past year to enhance revenue and improve margins.
Halliburton Company (HAL) reported revenue growth of 2.2% year-over-year to $5.804 billion in the first quarter of 2024, exceeding analysts’ expectations of $5.668 billion. The company’s diverse global service improvements and higher product sales contributed to a 3% increase in operating income to $688 million. Drilling and Evaluation revenue rose 7% to $2.4 billion, driven by increased drilling services in the Middle East and North America. International revenue grew by 12%, with particularly strong growth in Latin America (+21%) and Europe/Africa (+10%). Halliburton’s adjusted EPS was $0.76, beating the consensus estimate of $0.74. The company expects continued revenue growth in the low double digits for 2024.
