Reddit, Inc. (Reddit) reported earnings for Q1 on May 1st after the market closed, and the company delivered blowout performance against both its own guidance and analyst consensus: Revenue was up a notable 61% YoY, while net income shifted into theExperience as an investment analyst for a major BB-Bank, as well as private equity consultant for MBB. Currently working towards the CFA charter, having completed I&II. Passion for risk-assets (Growth, Contrarian, Emerging Market) ex-colleague and close friend of ...

Core Viewpoint - Reinsurance Group of America (RGA) reported mixed financial results for the first quarter of 2025, with adjusted operating earnings per share beating estimates but overall revenues declining significantly year over year Financial Performance - Adjusted operating earnings were $5.66 per share, exceeding the Zacks Consensus Estimate by 6.2%, but down 6% from the previous year [1] - Operating revenues totaled $5.3 billion, missing estimates by 7% and declining 13.7% year over year due to higher net premiums and net investment income [2] - Net premiums increased by 23.9% year over year to $4 billion [2] - Investment income rose 13% from the prior year to $1.2 billion, although average investment yield decreased to 4.64% from 4.7% [3] - Total benefits and expenses decreased 19% year over year to $4.9 billion, attributed to lower claims and other policy benefits [3] Segment Performance - U.S. and Latin America segment reported pre-tax adjusted operating income of $207 million, up 5% year over year [4] - Traditional segment's pre-tax adjusted operating income increased 9.4% to $140 million, with net premiums rising 12% to $1.9 billion [4] - Financial Solutions segment's pre-tax adjusted operating income decreased 25.6% year over year to $67 million [5] - Canada segment's pre-tax adjusted operating income fell 18.9% to $43 million [5] - EMEA segment's pre-tax adjusted operating income dropped 65.2% to $140 million [7] - Asia/Pacific segment's pre-tax adjusted operating income decreased 1.8% to $165 million [8] Capital and Shareholder Returns - As of March 31, 2025, RGA's total assets were $128.2 billion, an 8% increase from the end of 2024 [11] - Book value per share increased 1.6% to $153.80 [11] - The company deployed $418 million into in-force block transactions in the first quarter [13] - A quarterly dividend of 89 cents was declared, payable on May 27 to shareholders of record as of May 13 [13] Future Outlook - RGA estimates adjusted operating return on equity (ROE) to be between 13% and 15%, indicating expectations of continued strong business fundamentals [12]

Core Insights - PBF Energy Inc. reported a first-quarter 2025 adjusted loss of $3.09 per share, which was narrower than the Zacks Consensus Estimate of a loss of $3.50, but worse than the prior year's loss of $0.86 per share [1] - Total revenues for the quarter decreased to $7.07 billion from $8.65 billion year-over-year, yet exceeded the Zacks Consensus Estimate of $6.47 billion [1] - The better-than-expected earnings were attributed to reduced costs and expenses despite lower throughput volumes and declining refining margins [2][3] Financial Performance - The Refining segment reported an operating loss of $473.2 million, a significant decline from an operating income of $170.6 million in the previous year, falling short of the estimated operating income of $99.2 million [3] - The Logistics segment generated a profit of $51.4 million, up from $45.1 million in the prior-year quarter, surpassing the estimate of $45.5 million [3] Throughput Analysis - Crude oil and feedstock throughput volumes averaged 730.4 thousand barrels per day (bpd), down from 897.4 thousand bpd year-over-year and below the estimate of 770 thousand bpd [4] - The East Coast, Mid-Continent, Gulf Coast, and West Coast regions contributed 35.9%, 18.8%, 21.6%, and 23.7% respectively to total throughput volumes [4] Margins - The company-wide gross refining margin per barrel was $5.96, significantly lower than $11.73 in the previous year and below the estimate of $9.94 [5] - Regional margins included $5.86 for the East Coast (down from $7.72), $5.32 for the Gulf Coast (down from $12.36), and $6.76 and $6.05 for the Mid-Continent and West Coast respectively, compared to $18.15 and $13.15 a year ago [6] Costs & Expenses - Total costs and expenses for the quarter were $7.56 billion, down from $8.5 billion in the prior year, but higher than the estimate of $6.97 billion [7] - Cost of sales, including operating expenses and depreciation, amounted to $7.49 billion, lower than $8.43 billion a year ago [7] Capital Expenditure & Balance Sheet - PBF Energy invested $215.6 million in capital for refining operations and $2.4 million for logistics [8] - As of the end of the first quarter, the company had cash and cash equivalents of $0.47 billion and total debt of $2.24 billion, resulting in a total debt-to-capitalization ratio of 30% [8] Outlook - For the second quarter of 2025, PBF Energy expects throughput volumes of 265,000 to 285,000 bpd on the East Coast, 150,000 to 160,000 bpd in the Mid-Continent, 165,000 to 175,000 bpd in the Gulf Coast, and 215,000 to 235,000 bpd on the West Coast [9]

It has been about a month since the last earnings report for RH (RH) . Shares have added about 23.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is RH due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.How Have Estimates Been Moving Since Then?It turns out, estimates r ...

Core Insights - Airbnb reported first-quarter 2025 adjusted earnings of 24 cents per share, missing the Zacks Consensus Estimate by 4% [1] - Revenues reached $2.272 billion, a 6.1% year-over-year increase, beating the Zacks Consensus Estimate by 0.44% [1] - The Gross Booking Value for Q1 2025 was $24.5 billion, up 7% year-over-year [2] Revenue Details - Nights and Experiences Booked totaled 143.1 million, reflecting an 8% year-over-year increase [2] - Average Daily Rate (ADR) was $171, down 1% year-over-year, but grew 1% excluding forex [2] - Nights booked on the app increased 17% year-over-year, comprising 58% of total nights booked [3] Operating Details - Adjusted EBITDA was $765 million, a 3.7% increase year-over-year, with an adjusted EBITDA margin of 30.8% [4] - Operating income for Q1 2025 was $38 million, with an operating margin of 1.7%, down 3% year-over-year [5] Balance Sheet & Cash Flow - As of March 31, 2025, cash and cash equivalents were $11.492 billion, up from $10.6 billion at the end of 2024 [6] - Net cash provided by operating activities was $1.8 billion for Q1 2025, down from $1.9 billion in the year-ago quarter [6] - Free cash flow generated in Q1 2025 was $1.781 billion, with $4.356 billion over the trailing 12 months [7] Share Repurchase - Airbnb repurchased shares worth $807 million in Q1 2025, with $2.5 billion remaining under repurchase authorization [7] Q2 Forecast - For Q2 2025, Airbnb expects revenues between $2.99 billion and $3.05 billion, indicating a year-over-year increase of 9-11% [8] - ADR is anticipated to remain flat year-over-year, with moderate growth expected in Nights and Experiences Booked [10] - Adjusted EBITDA is expected to increase year-over-year, with EBITDA margins flat or slightly down compared to Q2 2024 [10] 2025 Outlook - For the full year 2025, Airbnb expects an adjusted EBITDA margin of 34.5%, indicating strong profitability while pursuing growth [11]

Core Viewpoint - Alkermes plc reported disappointing earnings and revenue for the first quarter of 2025, missing consensus estimates and showing a decline in total revenues compared to the previous year [1][2]. Financial Performance - Earnings from continuing operations were 13 cents per share, missing the Zacks Consensus Estimate of 28 cents and down from 21 cents per share in the same quarter last year [1]. - Total revenues for the first quarter were $306.5 million, a decrease of 12.5% year over year, and also below the Zacks Consensus Estimate of $317 million [2]. - The proprietary products portfolio generated sales of $244.5 million, up 4.7% year over year, driven primarily by Lybalvi [5][6]. Product Sales Breakdown - Vivitrol sales increased by 3.4% year over year to $101 million, beating the Zacks Consensus Estimate of $99 million but missing the internal estimate of $103.8 million [6]. - Lybalvi generated sales of $70 million, up 22.8% year over year, but missed both the Zacks Consensus Estimate of $71 million and the internal estimate of $75.1 million [7]. - Aristada sales decreased by 6.8% year over year to $73.5 million, missing the Zacks Consensus Estimate of $79 million [7]. Revenue Sources - Manufacturing and royalty revenues fell by approximately 46.9% year over year to $62 million, with specific contributions from Biogen's Vumerity and other products [7][8]. Expenses and Cash Position - Research and development expenses totaled $71.8 million, up 6.2% year over year, while selling, general, and administrative expenses decreased by 4.4% to $171.7 million [9]. - As of March 31, 2025, Alkermes had cash and cash equivalents of $916.2 million, an increase from $824.8 million as of December 31, 2024 [9]. Guidance and Future Outlook - Alkermes reiterated its financial guidance for 2025, expecting total revenues in the range of $1.34 billion to $1.43 billion, with specific sales expectations for Vivitrol, Aristada, and Lybalvi [10]. - Net sales from proprietary products are anticipated to be between $260 million and $280 million in the second quarter of 2025 [11]. Pipeline Development - The company initiated the phase II Vibrance-3 study for ALKS 2680, targeting idiopathic hypersomnia, with primary endpoints focused on sleepiness reduction compared to placebo [12][13]. - Additional studies for ALKS 2680 are ongoing for narcolepsy type 1 and type 2, with data expected in the latter half of 2025 [14].

Core Insights - Virtu Financial, Inc. (VIRT) reported a strong performance in Q1 2025, with shares increasing by 1.8% following the earnings announcement on April 23, driven by higher commissions and technology services revenues [1] - The company achieved adjusted earnings per share (EPS) of $1.30, exceeding the Zacks Consensus Estimate by 9.2% and marking a 71.1% increase year over year [2] Revenue Performance - Total revenues from commissions and technology services rose 27.6% year over year to $151.3 million, surpassing both the Zacks Consensus Estimate and internal estimates [3] - Adjusted net trading income reached $497.1 million, a 35.5% increase year over year, and also exceeded the consensus estimate by 4.7% [2] Expense and Profitability Metrics - Adjusted EBITDA was reported at $319.9 million, reflecting a 57.7% year-over-year increase and exceeding internal estimates [4] - The adjusted EBITDA margin improved by 910 basis points year over year to 64.4% [4] - Total operating expenses increased by 22.1% year over year to $614.1 million, driven by higher brokerage fees, employee compensation, and interest expenses [4] Segment Performance - In the Market Making segment, adjusted net trading income was $382 million, a 39.6% year-over-year increase, with revenues climbing 32.7% to $691.2 million [5] - The Execution Services segment reported adjusted net trading income of $115.1 million, up 23.5% year over year, with total revenues rising 19.7% to $141 million [6] Financial Position - As of March 31, 2025, Virtu Financial had cash and cash equivalents of $723.7 million, a decrease of 17.1% from the end of 2024 [7] - Total assets increased by 14.2% to $17.5 billion, while total equity rose by 5% to $1.6 billion [7] Shareholder Returns - The company repurchased 1.3 million shares for $48.1 million in Q1 2025, with a remaining buyback capacity of $373.8 million [8] - A cash dividend of 24 cents per share was announced, scheduled for payment on June 16, 2025 [8]

Core Insights - MasTec, Inc. reported strong financial results for Q1 2025, with earnings and revenues exceeding expectations, leading to a 3.7% increase in share price post-earnings release [1][2][4] Financial Performance - Adjusted EPS reached 51 cents, surpassing the Zacks Consensus Estimate of 34 cents by 50%, compared to a loss of 17 cents per share in the same quarter last year [4] - Revenues totaled $2.85 billion, exceeding the consensus mark of $2.72 billion by 4.7%, and increased by 6% year-over-year, driven by double-digit growth in non-pipeline segments [4] - Adjusted EBITDA was reported at $164 million, reflecting a 7.1% increase from the prior year, with an adjusted EBITDA margin of 5.7% [10] Backlog and Growth - As of March 31, 2025, MasTec's backlog stood at $15.88 billion, up 23.7% year-over-year and 11% sequentially, with significant contributions from the Pipeline Infrastructure segment, which more than doubled its backlog [5][2] Segment Performance - Communications segment revenues rose 34.7% to $680.9 million, supported by increased activity in wireless and wireline projects, despite a decline in install-to-the-home projects [6] - Clean Energy and Infrastructure revenues increased by 21.5% to $915.8 million, driven by higher project volumes in renewables and infrastructure initiatives [7] - Power Delivery segment revenues increased to $899.7 million, up from $797.9 million year-over-year, although adjusted EBITDA margin contracted by 60 bps to 5.7% [8] - Pipeline Infrastructure revenues fell 43.8% to $356.5 million, with an adjusted EBITDA margin of 12.5%, down 210 bps year-over-year [9] Cash Flow and Debt - The company generated $78.4 million in cash from operating activities, down from $107.8 million a year ago, and maintained net debt leverage at 1.9x [3][12] - Cash and cash equivalents decreased to $345.7 million from $399.9 million at the end of 2024, while long-term debt slightly increased to $2.041 billion [12] Future Guidance - For Q2 2025, MasTec expects revenues of approximately $3.4 billion, up from $3 billion in Q2 2024, with adjusted EBITDA estimated between $270-$280 million [13] - The company anticipates full-year revenues of about $13.65 billion, an increase from the previous estimate of $13.45 billion, and adjusted EPS is expected to be between $5.90 and $6.25 [14][15]

Apple (AAPL) reported second-quarter fiscal 2025 adjusted earnings of $1.65 per share, which beat the Zacks Consensus Estimate by 2.48% and increased 7.8% year over year.Net sales increased 5.1% year over year to $95.36 billion and beat the Zacks Consensus Estimate by 1.16%.Overall, product sales (72.1% of sales) climbed 2.7% year over year to $68.71 billion.Apple’s Q2 Top Line Rides on Strong Services GrowthServices revenues grew 11.6% year over year to $26.65 billion and accounted for 27.9% of sales. The ...

Core Insights - CBOE Global reported revenue of $565.2 million for Q1 2025, a 12.6% year-over-year increase, with EPS of $2.50 compared to $2.15 a year ago, exceeding Zacks Consensus Estimates [1] - The company achieved a revenue surprise of +1.54% and an EPS surprise of +5.93% compared to analyst expectations [1] Financial Performance Metrics - Average Revenue Per Contract for Futures was $1.74, slightly below the $1.76 estimate [4] - Average Daily Volume for Multi-listed options was 13.41 million, exceeding the 12.99 million estimate [4] - Access and capacity fees generated $97.80 million, surpassing the $96.55 million estimate, reflecting an 8.6% year-over-year increase [4] - Market data fees totaled $77.80 million, above the $75.92 million estimate, with an 8.1% year-over-year increase [4] - Other revenue was $25 million, below the $28.23 million estimate, representing a -5.3% change year-over-year [4] - Net transaction and clearing fees reached $832.60 million, exceeding the $788.83 million estimate, with a 15.9% year-over-year increase [4] - Regulatory fees surged to $161.80 million, significantly above the $90.18 million estimate, marking a 222.3% year-over-year increase [4] Stock Performance - CBOE shares returned -2% over the past month, compared to a -0.5% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential outperformance in the near term [3]