Mornings Earnings Wrap Up for Wednesday, March 15, 2023

Top Earnings News

Arcos Dorados Reported In-line with Expectations

Arcos Dorados (ARCO) reported earnings of $0.26 per share on revenue of $1.02 billion for the fourth quarter ended December 2022. The consensus earnings estimate was $0.23 per share on revenue of $990.25 million. The Earnings Whisper number was $0.26 per share. The company reported in-line with expectations while revenue grew 30.54% on a year-over-year basis.

Arcos Dorados Holdings Inc operates and franchises McDonald' restaurants in Latin America. The Company serves 4.3 million customers at more than 1,940 Company operated restaurants in 20 countries and territories.

Oatly Group AB Missed Expectations

Oatly Group AB (OTLY) reported a loss of $0.21 per share on revenue of $195.07 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.14 per share on revenue of $181.09 million. The Earnings Whisper number was a loss of $0.13 per share. The company missed expectations by 61.54% while revenue grew 4.92% on a year-over-year basis.

The company said it expects 2023 revenue of $888.35 million to $924.46 million. The current consensus revenue estimate is $883.98 million for the year ending December 31, 2023.

Top Earnings Surprise

Star Equity Beat Consensus Estimates

Star Equity (STRR) reported earnings of $0.14 per share on revenue of $32.14 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.02 per share on revenue of $28.75 million. The company beat consensus estimates by 800.00% while revenue grew 8.80% on a year-over-year basis.

Star Equity Holdings Inc. is a diversified holding company. Its operating divisions include Healthcare, Building & Construction and Real Estate & Investments. Star Equity Holdings Inc., formerly known as Digirad Corporation, is based in SUWANEE, Ga.

Top Negative Surprise

Audacy, Inc. Missed Consensus Estimates

Audacy, Inc. (AUD) reported a loss of $0.09 per share on revenue of $341.96 million for the fourth quarter ended December 2022. The consensus earnings estimate was $0.03 per share on revenue of $344.12 million. The company missed consensus estimates by 400.00% while revenue fell 0.80% compared to the same quarter a year ago.

Audacy, Inc. is a leading multi-platform audio content and entertainment company with the country’s best collection of local music, news and sports brands, a premium podcast creator, major event producer, and digital innovator.

Top Revenue Growth

HOOKIPA Pharma Beat Consensus Estimates

HOOKIPA Pharma (HOOK) reported a loss of $0.17 per share on revenue of $7.83 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.18 per share on revenue of $7.07 million. The company beat consensus estimates by 5.56% while revenue grew 100.98% on a year-over-year basis.

OOKIPA Pharma Inc. is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies, based on its proprietary arenavirus platform, that are designed to mobilize and amplify targeted T cells and thereby fight or prevent serious disease.

Top Positive Guidance

Steel Dynamics Guides Above Estimates

Steel Dynamics, Inc. (STLD) said it expects first quarter earnings of $3.78 to $3.82 per share. The current consensus earnings estimate is $3.26 per share for the quarter ending March 31, 2023.

Steel Dynamics Inc manufactures and sells steel products. The Company is also engaged in processing and sale of recycled ferrous and nonferrous metals, fabrication and sale of steel joist and decking products.