Month: July 2024

SANTA CLARA, Calif., July 30, 2024 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2024 of $5.8 billion, gross margin of 49%, operating income of $269 million, net income of $265 million and diluted earnings per share of $0.16. On a non-GAAP(*) basis, gross margin was 53%, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.69. “We delivered strong revenue and earnings growth in the second quarter driven by record Data Center segment revenue,” said AMD Chair and CEO Dr. Lisa Su. “Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors. The rapid advances in generative AI are driving demand for more compute in every market,...

Net income available to common stockholders of $11.9 million and $31.2 million for the three and six months ended June 30, 2024, respectively, or $0.20 and $0.52 per diluted share, respectively. Funds from Operations (“FFO”) per diluted share increased 2% and 6% year-over-year for the three and six months ended June 30, 2024, respectively, or $0.60 and $1.32 per diluted share, respectively. Increased 2024 FFO per diluted share guidance to a range of $2.48 to $2.54 with a midpoint of $2.51, a 9.6% increase over prior guidance. CEO Succession Planning – Ernest Rady to transition to Executive Chairman and Adam Wyll to transition to Chief Executive Officer, effective January 1, 2025. SAN DIEGO, July 30, 2024 (GLOBE NEWSWIRE) — American Assets Trust, Inc. (NYSE: AAT) (the “company”) today reported financial results...

FRISCO, TX, July 30, 2024 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) today reported financial and operating results for the quarter ended June 30, 2024. Highlights of 2024‘s Second QuarterVery weak natural gas prices weighed heavily on the second quarter financial results. Natural gas and oil sales, including realized hedging gains, were $278 million. Operating cash flow was $118 million or $0.41 per diluted share. Adjusted EBITDAX for the quarter was $167 million. Adjusted net loss was $58.2 million or $0.20 per share for the quarter. Enhanced liquidity with $400 million, 6.75% senior notes issuance. Steady results from the Haynesville shale drilling program with 15 (14.4 net) operated wells turned to sales since the Company’s last update with an...

HOUSTON, July 30, 2024 (GLOBE NEWSWIRE) — Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the third quarter of fiscal 2024 ended June 30, 2024. All comparisons are to the third quarter of fiscal 2023, unless otherwise noted. Third Quarter Key Financial Highlights:Revenues totaled $288 million, an increase of 50%; Gross profit of $82 million, or 28.4% of revenue; Net income of $46 million, or $3.79 per diluted share; New orders(1) totaled $356 million, spread broadly across our key end markets; Backlog(2) as of June 30, 2024 remained at $1.3 billion; Cash and short-term investments as of June 30, 2024 totaled $374 million.Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated,...

INDIANAPOLIS, July 30, 2024 (GLOBE NEWSWIRE) — Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored centers and vibrant mixed-use assets, reported today its operating results for the second quarter ended June 30, 2024. For the quarters ended June 30, 2024 and 2023, net loss attributable to common shareholders was $48.6 million, or $0.22 per diluted share, compared to net income of $32.1 million, or $0.15 per diluted share, respectively. For the six months ended June 30, 2024 and 2023, net loss attributable to common shareholders was $34.5 million, or $0.16 per diluted share, compared to net income of $37.4 million, or $0.17 per diluted share, respectively. The net loss for the quarter and six months ended June 30, 2024 was driven by a $66.2 million impairment charge associated...

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) — Ponce Financial Group, Inc., (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), today announced results for the second quarter of 2024. Second Quarter 2024 Highlights (Compared to Prior Periods):Net income available to common stockholders was $3.1 million, or $0.14 per diluted share for the three months ended June 30, 2024, as compared to net income available to common stockholders of $2.4 million, or $0.11 per diluted share for the three months ended March 31, 2024 and net loss to common stockholders of ($0.1) million, or $0.00 per diluted share for the three months ended June 30, 2023. Net income for the three months ended June 30, 2024, which excludes $0.1 million in dividends on preferred shares, was $3.2 million. The Company began paying dividends on...

SAN MATEO, Calif., July 30, 2024 (GLOBE NEWSWIRE) — Freshworks Inc. (NASDAQ: FRSH), a leading software company empowering businesses to delight their customers and employees, today announced financial results for its second quarter ended June 30, 2024. “Freshworks delivered a solid Q2, growing revenue to $174.1 million with a free cash flow margin of 19%,” said Dennis Woodside, CEO & President of Freshworks. “Our results reflect our increasing financial discipline and our ability to meet the needs of customers with our AI-powered solutions. With clear strategic priorities in place, we are well positioned to seize the massive opportunity in front of us.” Second Quarter 2024 Financial Summary ResultsRevenue: Total revenue was $174.1 million, representing growth of 20% compared to the second quarter of 2023, and 20% adjusting...

Second Quarter HighlightsNet revenues decreased -1.9%; Organic Net Revenue1 grew +2.5% with underlying Volume/Mix of -2.2% Diluted EPS was $0.45, down -34.8%; Adjusted EPS1 was $0.86, up +25.0% on a constant currency basis Year-to-date cash provided by operating activities was $2.1 billion, up $0.2 billion versus prior year; Free Cash Flow1 was $1.5 billion, flat versus prior year Return of capital to shareholders was $2.2 billion in the first half of the year Announcing +11% increase to quarterly dividend Launching transformative ERP program to drive enterprise efficienciesCHICAGO, July 30, 2024 (GLOBE NEWSWIRE) — Mondelēz International, Inc. (Nasdaq: MDLZ) today reported its second quarter 2024 results. “We continued to execute against our strategic growth agenda in the second quarter with strong profitability and attractive...

IRVINE, Calif., July 30, 2024 (GLOBE NEWSWIRE) — Inari Medical, Inc. (NASDAQ: NARI) (“Inari”), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases, today reported financial results for its second quarter ended June 30, 2024. Second Quarter Financial and Recent Business HighlightsGenerated revenue of $146 million in Q2 of 2024, up 23% over the same quarter last year. Commenced full commercial launch of VenaCore, Inari’s latest purpose-built device for the treatment of acute and chronic DVT. Cash, cash equivalents and short-term investments were $110 million as of Q2 of 2024.“Our second quarter performance was driven by strong adoption of our market leading solutions across our VTE, Emerging Therapies and international businesses,” said Drew Hykes, CEO...