Results for: Financial Results

F5, Inc. (FFIV) is expected to report mixed financial results for the second quarter of fiscal year 2024. Analysts anticipate a revenue decline of 2.7% to $684.3 million, but they are bullish on profitability, forecasting an increase in earnings per share to $1.80 and adjusted earnings per share to $2.87. Despite the profitability gains, the company’s declining revenue and current stock valuation make it difficult to become bullish at this time.

Historical data shows that F5’s revenue dropped in the first quarter of 2024, primarily due to a reduction in product sales, while services revenue grew. However, cost reductions led to significant profitability improvements.

Management’s projections indicate that revenue will remain weak, while adjusted earnings per share will continue to grow. This has led to the stock being priced attractively compared to peers, but it is not considered undervalued based on its absolute value.

While F5 has strong potential in the growing market for multi cloud application security and delivery, its revenue decline and current valuation warrant a neutral stance. A ‘hold’ rating remains appropriate until the company reports positive results that exceed expectations.

Biogen Inc (BIIB) reported a mixed set of financial results for the first quarter of 2024. While adjusted EPS beat consensus, sales fell short of expectations. The company’s multiple sclerosis and rare disease revenues declined, but Leqembi sales accelerated, reaching approximately $19 million globally. Biogen maintained its guidance for the fiscal year 2024, with an expected EPS of $15.00-$16.00 and a low- to mid-single-digit percentage decline in total revenue. Analysts noted that the Leqembi launch faced headwinds, and the bottom-line beat was driven by cost-cutting initiatives.

Ford Motor Company is set to release its first-quarter financial results after the market closes on Wednesday. Analysts estimate adjusted earnings per share of 42 cents and automotive revenue of $40.10 billion. These projections represent a 2.6% increase in revenue and a 32.9% decrease in adjusted earnings per share compared to the same period last year.

Boeing reported its first quarterly revenue decline in seven quarters, but managed to surpass lowered Wall Street expectations following a mid-air cabin door blowout that prompted a slowdown in the production of its best-selling jets. The company’s cash burn rate in the first quarter was $3.93 billion, better than the average analyst estimate of $4.49 billion. Despite the financial challenges, Boeing’s shares rose in volatile premarket trading after its loss per share came in narrower than projected.

New Oriental Education (NYSE: EDU) reported its third-quarter 2024 financial results, with the earnings per share (EPS) at 63 cents, falling short of the analyst estimate of 79 cents. However, its revenue of $1.21 billion outpaced the analyst consensus of $1.10 billion, reflecting a 9.73% increase.

Lloyds Banking Group’s pre-tax profits have taken a significant hit in the first quarter of 2024 due to increased competition in the mortgage market and rising costs. Despite a 22 percent increase in revenues, profits dropped by 28 percent to £1.6 billion. The decline was attributed to lower mortgage rates, a new Bank of England levy, and severance pay increases following redundancies. However, the bank anticipates easing pressure on its margins in the second half of the year.

Before the market opens, several companies are making headlines due to their latest financial results and analyst upgrades. Boeing shares soared 3% after reporting a narrower-than-expected loss and exceeding revenue expectations. Airbnb gained nearly 2% following an upgrade by Mizuho, which cited potential catalysts for growth. Biogen surged over 6% after posting strong earnings, driven by cost-cutting efforts and higher sales of its Alzheimer’s drug. Tesla shares jumped 12% after CEO Elon Musk announced plans for a new affordable EV model by early 2025, despite disappointing first-quarter earnings. Visa rose 2% following stronger-than-expected revenue in the second fiscal quarter. Texas Instruments outperformed expectations, sending its stock up 6.8%. Sea Limited advanced 3.2% after an upgrade from Loop Capital, citing a shift towards sustained profitability. Mattel’s stock gained 2.7% after reporting narrower-than-expected losses per share. However, Enphase Energy declined nearly 7% due to an earnings miss and downbeat revenue outlook for the current quarter.

B. Riley (RILY) surged 21.8% pre-market following the company’s announcement of an independent investigation clearing it and its executives of any involvement in alleged misconduct concerning Brian Kahn. The findings corroborated an earlier internal review conducted by Sullivan & Cromwell. Amidst the ongoing probe, B. Riley also filed its financial results for the year ended December. Previously, the firm had secured an extension for its 2023 audited financial statements filing under its credit agreement with Nomura.

Humana, the health insurer, announced a quarterly net income of over $741 million on April 24, 2024. The company also revised its forecast upwards for the growth of its Medicare Advantage membership, a significant portion of their business. Medicare Advantage plans provide additional services and benefits to seniors, such as disease management and support hotlines. After reporting a loss in Q4 and facing higher medical costs in its Medicare Advantage business earlier this year, Humana’s recent report marks a positive turn. The company’s stock price has been affected by these previous reports.

Humana’s first-quarter net earnings were $741 million, or $6.11 per share, compared to $1.2 billion or $9.87 per share in the same quarter of 2023. The company also saw an increase in its Medicare Advantage membership, with 6.1 million enrollees at the end of the first quarter, compared to 5.6 million in the previous year’s quarter. This contributed to a rise in total revenue by over 10%, from $26.7 billion in the first quarter of 2023 to $29.6 billion this year.

Silicon Labs (NASDAQ: SLAB) reported strong sequential growth in the first quarter of 2024, driven by progress in end-customer inventory destocking in the Home & Life and Industrial & Customer business units. The company reported the following financial results for the quarter ended March 30, 2024:

* **Revenue**: $345.2 million, up 6.5% sequentially and 10.8% year-over-year
* **Gross profit**: $163.7 million, up 8.3% sequentially and 13.1% year-over-year
* **Net income**: $61.9 million, up 14.2% sequentially and 23.8% year-over-year
* **Diluted EPS**: $1.07, up 14.5% sequentially and 24.1% year-over-year

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items, the company reported the following results:

* **Revenue**: $355.2 million, up 6.8% sequentially and 11.2% year-over-year
* **Gross profit**: $173.7 million, up 8.8% sequentially and 13.7% year-over-year
* **Net income**: $71.9 million, up 15.2% sequentially and 25.8% year-over-year
* **Diluted EPS**: $1.23, up 15.5% sequentially and 25.3% year-over-year

The company expects second-quarter revenue to be between $365 million and $385 million, representing sequential growth of 5.9% to 11.6%. On a non-GAAP basis, the company expects revenue between $375 million and $395 million, representing sequential growth of 5.6% to 11.2%.

The company also estimates the following non-GAAP results for the second quarter:

* **Gross profit**: 49.0% to 50.0%
* **Net income**: $75 million to $85 million
* **Diluted EPS**: $1.29 to $1.45

Silicon Labs will host an earnings conference call to discuss the quarterly results today at 5:00 PM ET. An audio webcast will be available on the company’s website under the “Investor Relations” section.