Evening Earnings Wrap Up for Tuesday, March 21, 2023
Top Earnings News
Nike Beat Expectations
Nike (NKE) reported earnings of $0.79 per share on revenue of $12.39 billion for the fiscal third quarter ended February 2023. The consensus earnings estimate was $0.52 per share on revenue of $11.45 billion. The Earnings Whisper number was $0.60 per share. The company beat expectations by 31.67% while revenue grew 13.97% on a year-over-year basis.
The company said during its conference call it expects fourth quarter revenue of approximately $10.87 billion to $11.25 billion. The current consensus revenue estimate is $12.59 billion for the quarter ending May 31, 2023.
Matthew Friend, Executive Vice President and Chief Financial Officer, said, "We have made tremendous progress on inventory as we position NIKE for sustainable and more profitable growth."
NIKE, Inc. is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities.
GameStop Beat Expectations
GameStop (GME) reported earnings of $0.16 per share on revenue of $2.23 billion for the fiscal fourth quarter ended January 2023. The consensus estimate was a loss of $0.16 per share on revenue of $2.18 billion. The Earnings Whisper number was a loss of $0.20 per share. The company beat expectations by 180.00% while revenue fell 1.22% compared to the same quarter a year ago.
Gamestop Corp is a multichannel video game retailer. It sells new and pre-owned video game hardware, physical and digital video game software, accessories, as well as PC entertainment software, new and pre-owned mobile and consumer electronics products.
Top Earnings Surprise
Hyperfine Beat Consensus Estimates
Hyperfine (HYPR) reported a loss of $0.19 per share on revenue of $1.42 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.25 per share on revenue of $2.25 million. The company beat consensus estimates by 24.00% while revenue grew 226.61% on a year-over-year basis.
The company said it expects 2023 revenue of $10.0 million to $14.0 million. The current consensus revenue estimate is $16.55 million for the year ending December 31, 2023.
Hyperfine, Inc. is the groundbreaking medical technology company that created the Swoop® system, the world’s first FDA-cleared portable magnetic resonance imaging (MRI) system capable of providing neuroimaging at the point of care.
Top Negative Surprise
21Vianet Group Missed Consensus Estimates
21Vianet Group (VNET) reported a loss of $0.06 per share on revenue of $272.67 million for the fourth quarter ended December 2022. The consensus earnings estimate was $0.48 per share on revenue of $281.58 million. The company missed consensus estimates by 112.50% while revenue fell 0.45% compared to the same quarter a year ago.
The company said it expects 2023 revenue of $1.10 billion to $1.15 billion. The current consensus revenue estimate is $1.19 billion for the year ending December 31, 2023.
21Vianet Group Inc is a carrier-neutral internet data center service provider. It provides hosting and related services, managed network services and cloud computing infrastructure services, improving the reliability, security and speed.
Top Revenue Growth
Great Bear Resources Reported Earnings
Great Bear Resources (GBR) reported earnings of $0.01 per share on revenue of $0.06 million for the . . Revenue grew 128.00% on a year-over-year basis.
New Concept Energy is a fully integrated producer of oil and gas. New Concept Energy is focused on North American oil and gas drilling and exploration projects. New Concept Energy current properties are concentrated in the Appalachian Basin and Utica Basin.
Top Positive Guidance
Sonoco Raises Guidance
Sonoco (SON) said it expects first quarter earnings of $1.30 to $1.40 per share. The company's previous guidance was earnings of $1.15 to $1.25 per share and the current consensus earnings estimate is $1.18 per share for the quarter ending March 31, 2023.
Sonoco Products Co provides consumer packaging, industrial products, protective packaging and packaging supply chain services. The Company' products include flexible packaging, high density film products, and folding cartons.