April 23, 2024
SunPower discloses plans to restate some earnings
SunPower (NASDAQ:SPWR) stock tumbled in early Tuesday trading after the company said some financial results between 2022 to 2023 "should no longer be relied upon."
earnings
April 23, 2024
April 23, 2024
Earnings call: Ramelius Resources upgrades guidance amid record production
Ramelius Resources (RMS.AX) has reported a record quarterly gold production, resulting in an upgraded full-year production guidance and a reduction in cost guidance. The company announced during its earnings call that it achieved a gold production of 86,928 ounces for the quarter, with an all-in sustaining cost of $1,344 per ounce.
April 23, 2024
Earnings call: Getinge reports steady Q1 growth, maintains full-year outlook
Getinge AB (GETI B), a leading global provider of medical technology products and solutions, reported a 5.2% increase in sales for the first quarter of 2024, with a steady organic sales performance despite previous year's high comparative figures from COVID-19 impacts in China. The company's order intake rose by 7.8%, showing organic growth across all business areas and regions.
April 23, 2024
Earnings call: ServisFirst Bancshares reports strong Q1 growth
ServisFirst Bancshares, Inc. (NYSE:SFBS) began the first quarter of 2024 on a positive note, showcasing significant growth in net loans and a robust loan pipeline. The bank's Chief Credit Officer, Henry Abbott, reported an improvement in credit quality, while the Chief Financial Officer, Kirk Pressley, noted the highest net interest income since Q1 of 2023 and an optimistic outlook for the year. The bank is preparing to enter a new market and has strengthened its team with nine new bankers. Despite a rise in non-performing assets, which was attributed to a single credit, ServisFirst remains well-positioned against its competitors in this area. The bank's liquidity position appears solid, with expectations of deposit growth and a lift in yields on earning assets. ServisFirst's customer base is expanding, buoyed by a more optimistic outlook and receding recession concerns.
April 23, 2024
Earnings call: Cathay General Bancorp reports Q1 income dip amid loan challenges
Cathay General Bancorp (NASDAQ:CATY) experienced a 13.4% decrease in net income during the first quarter of 2024, reporting $71.4 million, as revealed in their recent earnings call. The decline was attributed to a mark-to-market loss from equity securities and an increased FDIC special assessment. Despite a decrease in total gross loans, the bank saw a significant increase in total deposits.
April 23, 2024
Earnings call: Simpson Manufacturing sees mixed Q1 2024 results
Simpson Manufacturing Company (SSD) has reported a mixed set of results for the first quarter of 2024. The company saw a slight decline in net sales, which totaled $530.6 million. Despite a relatively stable U.S. housing market, North American volumes grew by 8%, contrasting with a 3.4% decrease in European net sales.
April 23, 2024
Asian stocks tread water with tech earnings, rate cues on tap
Investing.com– Most Asian stocks moved in a flat-to-low range on Tuesday as investors remained on edge ahead of earnings from some of the world’s biggest companies this week, while more cues on U.S. interest rates were also in focus.
April 23, 2024
Earnings call: SAP sees record cloud growth in Q1 2024
SAP SE (ETR:SAPG) (SAP) reported a robust start to 2024, with its first-quarter earnings showcasing a significant surge in cloud revenue and backlog, alongside a healthy increase in operating profit. The company's cloud revenue climbed by 25% to EUR 3.9 billion, while the current cloud backlog expanded by 28% to a record EUR 14.2 billion. Operating profit rose by 19% to EUR 1.5 billion, reflecting strong performance across various regions and a strategic focus on cloud and AI-driven growth.
April 23, 2024
Earnings call: Cadence's Q1 2024 results beat guidance, raises outlook
Cadence Design Systems, Inc. (NASDAQ:CDNS) reported a robust first quarter in 2024, surpassing its own financial guidance with a total revenue of $1.009 billion. The company's strong performance is backed by significant design activity in key technology areas and a record backlog that positions it well for the future.