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Why Target Hospitality (TH) Stock Is Up Today
Shares of workforce housing company Target Hospitality (NASDAQ:TH) jumped 11.4% in the morning session after the company reported strong third-quarter financial results that blew past analysts' revenue, EPS, and EBITDA expectations. The company highlighted strong customer demand and improved sales visibility, enabling it to reaffirm revenue and EBITDA guidance for the full year. However, the earnings outperformance recorded during the quarter suggests management might be somewhat conservative with the guidance. Overall, we think this was still a solid quarter with some key areas of upside.
Why Shopify (SHOP) Stock Is Up Today
Shares of e-commerce software platform Shopify (NYSE:SHOP) jumped 25.7% in the afternoon session after the company reported impressive third-quarter financial results. GMV (gross merchandise value) exceeded analysts' expectations, enabling it to beat Wall Street's revenue estimates and provide Q4 revenue guidance that came in higher than anticipated. On top of that, its revenue growth accelerated, and it produced a 19.5% free cash flow margin, showing that it can balance growth and profits. Overall, we think this was a solid quarter that revealed improved growth momentum.
Why TreeHouse Foods (THS) Shares Are Plunging Today
Shares of private label food company TreeHouse Foods (NYSE:THS) fell 17.3% in the morning session after the company reported weak third-quarter results that missed across key operating metrics we track. Revenue and EBITDA fell below Wall Street's expectations, and the company also reported underwhelming earnings per share, which came in roughly in line.
Tyson Foods (TSN) Stock Trades Up, Here Is Why
Shares of meat company Tyson Foods (NYSE:TSN) jumped 10% in the morning session after the company reported strong third-quarter results that blew past analysts' gross margin and EBITDA expectations, while sales also exceeded expectations by a whisker.
Why Angi (ANGI) Stock Is Trading Lower Today
Shares of home services online marketplace ANGI (NASDAQ: ANGI) fell 27.9% in the afternoon session after the company reported underwhelming third-quarter financial results, with sales roughly in line with Wall Street's estimates. Markets typically reward strong top-line beats, which means investors were likely unimpressed by the sales decline and in-line performance recorded during the quarter. Notably, key top-line growth indicators like service requests continued to decline year on year. However, the company performed impressively on the bottom line, with EBITDA exceeding estimates and making for a decent EPS beat. Overall, this was a mixed, but weaker quarter.
Why Sea (SE) Stock Is Trading Up Today
Shares of e-commerce and gaming company Sea (NYSE:SE) jumped 16.2% in the morning session after the company reported strong third-quarter earnings that blew past analysts' revenue and EBITDA expectations. The EBITDA beat was partly due to its lower sales and marketing expenses compared to the same quarter last year. This is sending shares higher because a key debate surrounding Sea is whether the company can hop off the treadmill of marketing spend, which used to exceed its revenue in previous years. Overall, this quarter had some key positives.
Hertz (NASDAQ:HTZ) Misses Q3 Revenue Estimates, Stock Drops 10.4%
Global car rental company Hertz (NASDAQ:HTZ) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 4.7% year on year to $2.58 billion. Its non-GAAP loss of $0.68 per share was also 43.8% below analysts’ consensus estimates.
Shoals (NASDAQ:SHLS) Surprises With Q3 Sales, Guides For Strong Full-Year Sales
Solar energy systems company Shoals (NASDAQ:SHLS) reported Q3 CY2024 results topping the market’s revenue expectations, but sales fell 23.9% year on year to $102.2 million. On top of that, next quarter’s revenue guidance ($102 million at the midpoint) was surprisingly good and 9% above what analysts were expecting. Its non-GAAP profit of $0.08 per share was 17.1% below analysts’ consensus estimates.
Tyson Foods (NYSE:TSN) Surprises With Q3 Sales, Stock Soars
Meat company Tyson Foods (NYSE:TSN) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 1.6% year on year to $13.57 billion. Its non-GAAP profit of $0.92 per share was also 33.6% above analysts’ consensus estimates.
Sphere Entertainment (NYSE:SPHR) Beats Q3 Sales Targets But Stock Drops
Content production and distribution company Sphere Entertainment (NYSE:SPHR) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 93.1% year on year to $227.9 million. Its GAAP loss of $2.95 per share was 1,613% below analysts’ consensus estimates.