Siemens Energy to Hit Top End of Guidance With US Demand Strong
Net income for its fiscal third quarter came in higher than anticipated at €697 million ($807 million), the German industrial firm said Wednesday. The company reported strong orders in the US, helping it shrug off a €100 million direct hit from tariffs imposed by President Donald Trump.
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Earnings live: Airbnb beats, DoorDash stock pops, Lyft slides after Uber set the bar high
Second quarter earnings season is in full swing, and the results have been largely positive so far, with more positive surprises than negative ones. Companies had a lower bar to clear coming into the quarter, as analysts tempered their expectations amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy. This week, investors hear from Tyson (TSN), AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), Palantir (PLTR), and more when they report results. Data from FactSet published Friday showed that with 66% of the index having reported results, analysts expect S&P 500 companies to report a 10.3% jump in earnings per share during the second quarter. Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023. Here are the latest updates from corporate America. Lyft stock slides after results failed to impress Lyft (LYFT) stock slid after hours after the ride-hailing company missed second quarter revenue estimates on Wednesday amid heightened competition with Uber (UBER) and weakening demand. However, Lyft raised its guidance for gross bookings in the current quarter to between $4.65 billion and $4.80 billion, well above estimates of $4.59 billion. Here are Lyft's top and bottom line results for the quarter, compared to S&P Global Market Intelligence consensus estimates: Earlier in the day, rival Uber reported it saw trips surge 18% year over year, putting pressure on Lyft to report impressive results. While Uber stock popped earlier in the day, it closed about 0.2% lower on the day. Reuters reports: Read more here. Airbnb earnings top estimates, company announces $6 billion in stock buybacks Airbnb (ABNB) stock wavered in after-hours trading after better-than-expected earnings, a slight guidance lift, and a new $6 billion stock buyback program. The company said it saw stable travel demand and booking lead times in the second quarter despite global economic uncertainty. Net income grew 16% year over year to $642 million, the company reported, with earnings per share coming in at $1.03 versus $0.94 estimated. Revenue rose 13% year over year, reaching $3.1 billion, above estimates for $3.02 billion. For the third quarter, Airbnb expects revenue between $4.02 billion and $4.10 billion, the midpoint of which is higher than analysts' average estimate of $4.05 billion. Airbnb also announced a new stock buyback program to purchase up to an additional $6 billion of Class A common stock. Read more here. DoorDash stock pops after earnings beat across all metrics as consumers paid up for convenience DoorDash (DASH) reported second quarter results that beat on both the top and bottom lines on Wednesday, with its orders also rising more than forecast. Earnings per share came in at $0.65, $0.20 more than the Street had forecast. Adjusted EBITDA reached $655 million in the quarter. Revenue grew 25% year over year to $3.28 billion, compared to the $3.17 billion the Street predicted. Total orders, which means all orders through its marketplaces and commerce platform, also jumped 20% to 761 million in the quarter. That's more than the 749 million analysts had anticipated. Shares rose as much as 3% after the results. Marketplace GOV, which is the total dollar value of transactions completed through the marketplace, including taxes, tips, and fees related to DashPass and its international platform Wolt+, clocked in at $24.2 billion compared to the expected $23.6 billion. Year to date, the stock has been on a tear, up more than 50%, compared to the S&P 500's (^GSPC) 8% gain. The company said total orders were driven by strength in the US restaurant category, as its DashPass membership members ordered more frequently. It added that it continues to "improve the value proposition" for its DashPass membership. DoorDash expects marketplace GOV in the current quarter to come in between $24.2 billion and $24.7 billion. Adjusted EBITDA is expected to fall between $680 million and$780 million in its third quarter. Shopify stock soars on upbeat forecast, 31% revenue growth Shopify (SHOP) stock surged 18% before the opening bell after the commerce technology company provided an upbeat forecast and positive results. Gross profit rose to $1.3 billion in the quarter, while revenue reached $2.68 billion, compared to estimates of $2.54 billion. Shopify's second quarter revenue marked a 31% increase from a year ago as the company benefited from investments in product features and artificial intelligence. For the third quarter, Shopify anticipates revenue to grow at a mid-to-high twenties percentage rate on a year-over-year basis. Gross profit dollars are expected to grow at a low-twenties percentage rate annually. 'Today's results are the payoff from bold bets we made years ago,' Shopify president Harley Finkelstein said in a statement. 'The investments we're making now will fuel our next chapter.' Listen to Shopify's earnings call live here. Uber beats second quarter estimates, unveils $20 billion stock buyback program Uber (UBER) stock gained around 1% in premarket trading after the ride-hailing company announced a $20 billion stock buyback program and lifted its bookings guidance for the third quarter. Uber's second quarter profits rose to $0.63 per share from $0.47 per share a year ago, roughly in line with estimates. Revenue topped estimates at $12.66 billion for the quarter, compared to $12.46 billion expected. Reuters reports: Novavax beats quarterly revenue estimates on milestone payment Reuters reports: Read more here. Novo Nordisk misses Wall Street estimates for Q2 earnings on slower GLP-1 sales Novo Nordisk (NVO) missed estimates on the top and bottom lines for the second quarter, sending shares about 2.5% lower in premarket trading. The company reported earnings per share of $5.96, falling short of the $6.06 earnings per share Wall Street expected. Revenue barely missed estimates, coming in at $11.95 billion versus estimates of $11.97 billion. Novo Nordisk reported overall sales rose 16% year over year. Yahoo Finance's Anjalee Khemlani reports that its two blockbuster diabetes and weight-loss drugs — Wegovy and Ozempic — brought in about two-thirds of total revenue reported in the quarter, or $7.9 billion. Anjalee writes: Read more here. McDonald's stock rises after company reverses US sales slump McDonald's (MCD) reported a return to sales growth in the second quarter, as global comparable sales jumped 3.8%, above analysts' estimates for a 2.5% increase. US same-store sales increased 2.5% in the company's fiscal second quarter, marking a turnaround from the 3.6% drop in the first quarter and above estimates of 2.3%. US same-store sales fell 0.7% in the same quarter last year. McDonald's stock rose 3.6% in premarket trading. Yahoo Finance's Brooke DiPalma reports: Read more here. Disney lifts profit outlook as parks, streaming drive Q3 earnings beat Yahoo Finance's Allie Canal reports: Read more here. Honda Q1 profit halves on tariffs, but raises outlook Shares in Honda Motor (HMC) rose 2% premarket after the automaker reported a 50% drop in first-quarter operating profit on Wednesday as a stronger yen and the impact of US President Donald Trump's tariffs took its toll, but the company raised its full-year forecast. Reuters reports: Read more here. Opendoor stock plunges on earnings after meme stock rally Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Snap stock drops on weaker-than-expected revenue growth Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales Yahoo Finance's Daniel Howley reports: Read more here. Super Micro stock tanks after quarterly revenue miss Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Lucid misses on both top and bottom lines, trims production forecast Yahoo Finance's Pras Subramanian reports: Read more here. Rivian reports mixed Q2 results, widens 2025 loss projection as tariffs and loss of EV tax credit bite Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Yum Brands stock falls amid underperformance in the US Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Lemonade stock jumps on solid guidance Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Lyft stock slides after results failed to impress Lyft (LYFT) stock slid after hours after the ride-hailing company missed second quarter revenue estimates on Wednesday amid heightened competition with Uber (UBER) and weakening demand. However, Lyft raised its guidance for gross bookings in the current quarter to between $4.65 billion and $4.80 billion, well above estimates of $4.59 billion. Here are Lyft's top and bottom line results for the quarter, compared to S&P Global Market Intelligence consensus estimates: Earlier in the day, rival Uber reported it saw trips surge 18% year over year, putting pressure on Lyft to report impressive results. While Uber stock popped earlier in the day, it closed about 0.2% lower on the day. Reuters reports: Read more here. Lyft (LYFT) stock slid after hours after the ride-hailing company missed second quarter revenue estimates on Wednesday amid heightened competition with Uber (UBER) and weakening demand. However, Lyft raised its guidance for gross bookings in the current quarter to between $4.65 billion and $4.80 billion, well above estimates of $4.59 billion. Here are Lyft's top and bottom line results for the quarter, compared to S&P Global Market Intelligence consensus estimates: Earlier in the day, rival Uber reported it saw trips surge 18% year over year, putting pressure on Lyft to report impressive results. While Uber stock popped earlier in the day, it closed about 0.2% lower on the day. Reuters reports: Read more here. Airbnb earnings top estimates, company announces $6 billion in stock buybacks Airbnb (ABNB) stock wavered in after-hours trading after better-than-expected earnings, a slight guidance lift, and a new $6 billion stock buyback program. The company said it saw stable travel demand and booking lead times in the second quarter despite global economic uncertainty. Net income grew 16% year over year to $642 million, the company reported, with earnings per share coming in at $1.03 versus $0.94 estimated. Revenue rose 13% year over year, reaching $3.1 billion, above estimates for $3.02 billion. For the third quarter, Airbnb expects revenue between $4.02 billion and $4.10 billion, the midpoint of which is higher than analysts' average estimate of $4.05 billion. Airbnb also announced a new stock buyback program to purchase up to an additional $6 billion of Class A common stock. Read more here. Airbnb (ABNB) stock wavered in after-hours trading after better-than-expected earnings, a slight guidance lift, and a new $6 billion stock buyback program. The company said it saw stable travel demand and booking lead times in the second quarter despite global economic uncertainty. Net income grew 16% year over year to $642 million, the company reported, with earnings per share coming in at $1.03 versus $0.94 estimated. Revenue rose 13% year over year, reaching $3.1 billion, above estimates for $3.02 billion. For the third quarter, Airbnb expects revenue between $4.02 billion and $4.10 billion, the midpoint of which is higher than analysts' average estimate of $4.05 billion. Airbnb also announced a new stock buyback program to purchase up to an additional $6 billion of Class A common stock. Read more here. DoorDash stock pops after earnings beat across all metrics as consumers paid up for convenience DoorDash (DASH) reported second quarter results that beat on both the top and bottom lines on Wednesday, with its orders also rising more than forecast. Earnings per share came in at $0.65, $0.20 more than the Street had forecast. Adjusted EBITDA reached $655 million in the quarter. Revenue grew 25% year over year to $3.28 billion, compared to the $3.17 billion the Street predicted. Total orders, which means all orders through its marketplaces and commerce platform, also jumped 20% to 761 million in the quarter. That's more than the 749 million analysts had anticipated. Shares rose as much as 3% after the results. Marketplace GOV, which is the total dollar value of transactions completed through the marketplace, including taxes, tips, and fees related to DashPass and its international platform Wolt+, clocked in at $24.2 billion compared to the expected $23.6 billion. Year to date, the stock has been on a tear, up more than 50%, compared to the S&P 500's (^GSPC) 8% gain. The company said total orders were driven by strength in the US restaurant category, as its DashPass membership members ordered more frequently. It added that it continues to "improve the value proposition" for its DashPass membership. DoorDash expects marketplace GOV in the current quarter to come in between $24.2 billion and $24.7 billion. Adjusted EBITDA is expected to fall between $680 million and$780 million in its third quarter. DoorDash (DASH) reported second quarter results that beat on both the top and bottom lines on Wednesday, with its orders also rising more than forecast. Earnings per share came in at $0.65, $0.20 more than the Street had forecast. Adjusted EBITDA reached $655 million in the quarter. Revenue grew 25% year over year to $3.28 billion, compared to the $3.17 billion the Street predicted. Total orders, which means all orders through its marketplaces and commerce platform, also jumped 20% to 761 million in the quarter. That's more than the 749 million analysts had anticipated. Shares rose as much as 3% after the results. Marketplace GOV, which is the total dollar value of transactions completed through the marketplace, including taxes, tips, and fees related to DashPass and its international platform Wolt+, clocked in at $24.2 billion compared to the expected $23.6 billion. Year to date, the stock has been on a tear, up more than 50%, compared to the S&P 500's (^GSPC) 8% gain. The company said total orders were driven by strength in the US restaurant category, as its DashPass membership members ordered more frequently. It added that it continues to "improve the value proposition" for its DashPass membership. DoorDash expects marketplace GOV in the current quarter to come in between $24.2 billion and $24.7 billion. Adjusted EBITDA is expected to fall between $680 million and$780 million in its third quarter. Shopify stock soars on upbeat forecast, 31% revenue growth Shopify (SHOP) stock surged 18% before the opening bell after the commerce technology company provided an upbeat forecast and positive results. Gross profit rose to $1.3 billion in the quarter, while revenue reached $2.68 billion, compared to estimates of $2.54 billion. Shopify's second quarter revenue marked a 31% increase from a year ago as the company benefited from investments in product features and artificial intelligence. For the third quarter, Shopify anticipates revenue to grow at a mid-to-high twenties percentage rate on a year-over-year basis. Gross profit dollars are expected to grow at a low-twenties percentage rate annually. 'Today's results are the payoff from bold bets we made years ago,' Shopify president Harley Finkelstein said in a statement. 'The investments we're making now will fuel our next chapter.' Listen to Shopify's earnings call live here. Shopify (SHOP) stock surged 18% before the opening bell after the commerce technology company provided an upbeat forecast and positive results. Gross profit rose to $1.3 billion in the quarter, while revenue reached $2.68 billion, compared to estimates of $2.54 billion. Shopify's second quarter revenue marked a 31% increase from a year ago as the company benefited from investments in product features and artificial intelligence. For the third quarter, Shopify anticipates revenue to grow at a mid-to-high twenties percentage rate on a year-over-year basis. Gross profit dollars are expected to grow at a low-twenties percentage rate annually. 'Today's results are the payoff from bold bets we made years ago,' Shopify president Harley Finkelstein said in a statement. 'The investments we're making now will fuel our next chapter.' Listen to Shopify's earnings call live here. Uber beats second quarter estimates, unveils $20 billion stock buyback program Uber (UBER) stock gained around 1% in premarket trading after the ride-hailing company announced a $20 billion stock buyback program and lifted its bookings guidance for the third quarter. Uber's second quarter profits rose to $0.63 per share from $0.47 per share a year ago, roughly in line with estimates. Revenue topped estimates at $12.66 billion for the quarter, compared to $12.46 billion expected. Reuters reports: Uber (UBER) stock gained around 1% in premarket trading after the ride-hailing company announced a $20 billion stock buyback program and lifted its bookings guidance for the third quarter. Uber's second quarter profits rose to $0.63 per share from $0.47 per share a year ago, roughly in line with estimates. Revenue topped estimates at $12.66 billion for the quarter, compared to $12.46 billion expected. Reuters reports: Novavax beats quarterly revenue estimates on milestone payment Reuters reports: Read more here. Reuters reports: Read more here. Novo Nordisk misses Wall Street estimates for Q2 earnings on slower GLP-1 sales Novo Nordisk (NVO) missed estimates on the top and bottom lines for the second quarter, sending shares about 2.5% lower in premarket trading. The company reported earnings per share of $5.96, falling short of the $6.06 earnings per share Wall Street expected. Revenue barely missed estimates, coming in at $11.95 billion versus estimates of $11.97 billion. Novo Nordisk reported overall sales rose 16% year over year. Yahoo Finance's Anjalee Khemlani reports that its two blockbuster diabetes and weight-loss drugs — Wegovy and Ozempic — brought in about two-thirds of total revenue reported in the quarter, or $7.9 billion. Anjalee writes: Read more here. Novo Nordisk (NVO) missed estimates on the top and bottom lines for the second quarter, sending shares about 2.5% lower in premarket trading. The company reported earnings per share of $5.96, falling short of the $6.06 earnings per share Wall Street expected. Revenue barely missed estimates, coming in at $11.95 billion versus estimates of $11.97 billion. Novo Nordisk reported overall sales rose 16% year over year. Yahoo Finance's Anjalee Khemlani reports that its two blockbuster diabetes and weight-loss drugs — Wegovy and Ozempic — brought in about two-thirds of total revenue reported in the quarter, or $7.9 billion. Anjalee writes: Read more here. McDonald's stock rises after company reverses US sales slump McDonald's (MCD) reported a return to sales growth in the second quarter, as global comparable sales jumped 3.8%, above analysts' estimates for a 2.5% increase. US same-store sales increased 2.5% in the company's fiscal second quarter, marking a turnaround from the 3.6% drop in the first quarter and above estimates of 2.3%. US same-store sales fell 0.7% in the same quarter last year. McDonald's stock rose 3.6% in premarket trading. Yahoo Finance's Brooke DiPalma reports: Read more here. McDonald's (MCD) reported a return to sales growth in the second quarter, as global comparable sales jumped 3.8%, above analysts' estimates for a 2.5% increase. US same-store sales increased 2.5% in the company's fiscal second quarter, marking a turnaround from the 3.6% drop in the first quarter and above estimates of 2.3%. US same-store sales fell 0.7% in the same quarter last year. McDonald's stock rose 3.6% in premarket trading. Yahoo Finance's Brooke DiPalma reports: Read more here. Disney lifts profit outlook as parks, streaming drive Q3 earnings beat Yahoo Finance's Allie Canal reports: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Honda Q1 profit halves on tariffs, but raises outlook Shares in Honda Motor (HMC) rose 2% premarket after the automaker reported a 50% drop in first-quarter operating profit on Wednesday as a stronger yen and the impact of US President Donald Trump's tariffs took its toll, but the company raised its full-year forecast. Reuters reports: Read more here. Shares in Honda Motor (HMC) rose 2% premarket after the automaker reported a 50% drop in first-quarter operating profit on Wednesday as a stronger yen and the impact of US President Donald Trump's tariffs took its toll, but the company raised its full-year forecast. Reuters reports: Read more here. Opendoor stock plunges on earnings after meme stock rally Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Snap stock drops on weaker-than-expected revenue growth Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales Yahoo Finance's Daniel Howley reports: Read more here. Yahoo Finance's Daniel Howley reports: Read more here. Super Micro stock tanks after quarterly revenue miss Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Lucid misses on both top and bottom lines, trims production forecast Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian reports mixed Q2 results, widens 2025 loss projection as tariffs and loss of EV tax credit bite Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Yum Brands stock falls amid underperformance in the US Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Lemonade stock jumps on solid guidance Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Sign in to access your portfolio
Yahoo
2 minutes ago
- Yahoo
Elf Beauty tops quarterly estimates on resilient demand for affordable lipsticks and skincare
(Reuters) -Elf Beauty beat first-quarter sales and profit estimates on Wednesday, fueled by resilient demand for its affordable products including lip oils and blush tints at retailers and online channels, despite broader retail slowdown. Shares of the company were up about 5% after the bell. The beauty retailer known for its vegan lip oils — available at drugstores and supermarkets including Walgreens, Target as well as Dollar Tree — has been able to resonate with millennial and Gen Z shoppers, who are often on the hunt for trendy makeup and skincare products. This, in turn, has been benefiting sales growth at Elf — short for eyes, lips and face — offering products priced as low as $2 at U.S. retailers including Walmart and Ulta Beauty. Meanwhile, luxury beauty makers such as Estee Lauder have been struggling to revive demand and the Trump administration's unpredictable trade policy has disrupted business operations worldwide. The company continues to refrain from providing an annual forecast owing to tariff-related uncertainty. Elf, which acquired Hailey Bieber's makeup brand Rhode, increased product prices by $1 across categories starting August 1 to counter trade-related costs, similar to broader industry peers. The company, which has reduced its production from China to "little less" than 75% from about 100% back in 2019, has also been optimizing its supply chain and diversifying its business to be able to address tariff-related headwinds, CEO Tarang Amin told Reuters on Wednesday. The company's quarterly revenue of $353.7 million beat estimates of $350.3 million, as per data compiled by LSEG. On an adjusted basis, the company's earnings came in at 89 cents per share, compared with analysts' estimates of 84 cents per share. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 minutes ago
- Business Wire
Cresco Labs Announces Commitments to Refinance its Senior Secured Credit Facility
CHICAGO--(BUSINESS WIRE)--Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (' Cresco Labs ' or the ' Company '), today announced that it has successfully obtained commitments to refinance its senior secured credit facility (the 'Senior Loan'). The refinancing, upon closing, will provide for a new senior secured term loan totaling US$325 million, bearing an interest rate of 12.5% per annum, and maturing on the 5 th year anniversary of the closing of the refinancing. The new facility will replace the Company's existing US$360 million credit facility, providing enhanced financial flexibility and favorable terms, including provisions that will allow for the prepayment of up to US$125 million at a reduced prepayment premium. The refinancing comes at a time when access to capital remains highly constrained across the U.S. cannabis sector. With an estimated $2 billion in industry debt maturities coming due over the next 18 months, Cresco Labs' ability to refinance its credit facility underscores the resilience of its business model and enables it to execute on its multi-year growth plan. 'Securing this refinancing is a testament to the strength of our business and the trust we've built with top-tier institutional lenders,' said Charlie Bachtell, CEO of Cresco Labs. 'In an environment where capital is scarce, Cresco stands out. We've extended our maturity, improved our balance sheet position, and done so without dilution. This positions us to play offense instead of focusing on refinancing risk. It's a strategic win in a capital-constrained market.' Proceeds from the new facility, together with cash on hand, will be used to repay in full the existing term loan, fund capital expenditures, and support targeted growth initiatives across Cresco's core U.S. markets. The refinancing was negotiated at arm's length and includes customary financial and operational covenants. The facility contains no equity or convertible features. A.G.P. Canada Investments ULC and Cormark Securities Inc. acted as lead financial advisors and lead arrangers on the transaction. The lead lenders were advised by Paul Hastings LLP. The refinancing is expected to close on or about August 13, 2025, subject to customary closing conditions. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production, and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's, and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development, and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. Forward-Looking Statements This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). Such forward-looking statements are not representative of historical facts or information or current condition but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential,' or 'continue,' or the negative of those forms or other comparable terms and in this press release includes statements relating to, among other things: the timing and ability to close the refinancing, including satisfying all conditions precedent in the commitment letter; any prepayments under the new facility; access to capital; the Company executing on its multi-year growth plan; and the anticipated use of proceeds from the new facility. The Company's forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under 'Risk Factors' in the Company's Annual Information Form for the year ended December 31, 2024, filed on SEDAR+ and EDGAR, other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs' shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event, or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
