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BurTech Acquisition Corp. - Class A Common Stock

BurTech Acquisition Corp

Forecasted AFFO for the Full Year 2024
The tables below set forth the reconciliations of the forecasted AFFO and AFFO per share set forth in the Outlook section to their most comparable GAAP measurements for the full year 2024:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">(in millions, except per share amounts)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="15" rowspan="1">Full Year 2024</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="7" rowspan="1">(in millions)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="7" rowspan="1">($ per share)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net income</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">835.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">880.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">7.73</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">8.15</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Real estate related depreciation, amortization, and accretion</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">262.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">257.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">2.43</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">2.38</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Asset impairment and decommission costs</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">136.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">131.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">1.26</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">1.22</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">FFO</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1,234.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1,269.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">11.42</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">11.75</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjustments to FFO:</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Non-cash straight-line leasing revenue</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(5.0</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">—</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.05</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">—</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Non-cash straight-line ground lease expense</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(12.5</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(7.5</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.12</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.07</td>
<td colspan="1" rowspan="1">)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Non-cash compensation</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">76.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">71.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.70</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.66</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjustment for non-cash portion of tax provision</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">9.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">9.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.08</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.08</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Non-real estate related depreciation, amortization, and accretion</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">12.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">7.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.12</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.07</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Amortization of deferred financing costs and debt discounts and non-cash interest expense</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">54.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">54.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.50</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.50</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Loss from extinguishment of debt, net</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">4.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">4.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.04</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.04</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Other expense, net</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">76.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">76.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.70</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.70</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Acquisition and new business initiatives related adjustments and expenses</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">26.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">21.5</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.25</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.20</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Non-discretionary cash capital expenditures</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(61.0</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(51.0</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.55</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.47</td>
<td colspan="1" rowspan="1">)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">AFFO</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1,415.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1,455.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">13.09</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">13.46</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjustments for joint venture partner interest</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(6.0</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(6.0</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.06</td>
<td colspan="1" rowspan="1">)</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(0.06</td>
<td colspan="1" rowspan="1">)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">AFFO attributable to SBA Communications</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Corporation</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1,409.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1,449.0</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">13.03</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">13.40</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Diluted weighted average number of common shares (1)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">108.1</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">to</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">108.1</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
</tbody>
</table>
</figure><figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">(1)</td>
<td colspan="1" rowspan="1">Our assumption for weighted average number of common shares does not contemplate any additional repurchases of the Company's stock during 2024.</td>
</tr>
</tbody>
</table>
</figure>
Net Debt, Net Secured Debt, Leverage Ratio, and Secured Leverage Ratio
Net Debt is calculated using the notional principal amount of outstanding debt. Under GAAP policies, the notional principal amount of the Company's outstanding debt is not necessarily reflected on the face of the Company's financial statements.

News

Guidance

SBAC

SBA Communications Sees FY24 AFFO Attributable To SBA Communications $13.03-$13.40; Net Income $7.73-$8.15

LSCC

Lattice Semiconductor Sees Q2 Revenue $120M-$140M vs $140.46M Est.,

Earnings

Morgan Stanley Capital Protected Notes for S&P 500 Index

MorphoSys Group AG Q1 2024 EPS €(9.27) Down From €(0.94) YoY; Revenue €27.5M Up From €24.3M YoY

Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) reported quarterly earnings of $0.58 per share which beat the analyst consensus estimate of $0.47 by 23.4 percent. This is a 45 percent increase over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $1.087 billion which beat the analyst consensus estimate of $1.038 billion by 4.74 percent. This is a 10.88 percent increase over sales of $980.305 million the same period last year.

Earnings Beats

Flowserve Q1 2024 Adj EPS $0.58 Beats $0.47 Estimate, Sales $1.087B Beat $1.038B Estimate

WIIM

Sensata Technologies shares are trading higher after the company reported better-than-expected Q1 financial results.

AMKR

Amkor Technology Expects Q2 Net Sales Of $1.40B-$1.50B (Est $1.389B), Gross Margin Of 13.0%-15.0%, EPS Of $0.14-$0.30 (Est $0.15)

PARA

PARAA

Paramount Global shares are trading higher after the company reported mixed Q1 financial results.

Arch Capital Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>) reported quarterly earnings of $2.45 per share which beat the analyst consensus estimate of $2.10 by 16.67 percent. This is a 41.62 percent increase over earnings of $1.73 per share from the same period last year. The company reported quarterly sales of $3.42 billion which missed the analyst consensus estimate of $3.83 billion by 10.65 percent. This is a 18.70 percent increase over sales of $2.88 billion the same period last year.

Earnings Misses

ACGL

Arch Capital Group Q1 Adj $2.45 Beats $2.10 Estimate, Sales $3.42B Miss $3.83B Estimate

Macro Notification

General

TSLA

Benzinga Closing Bell Update: Philips Closes Higher On Settlement, Deutsche Bank Falls On Postbank Litigation Update, Tesla Rises On Baidu FSD Partnership

Dan Rosensweig was appointed Executive Chairman after 14 years as CEO of Chegg. (Photo: Business Wire)
Schultz is a veteran of Chegg and has served in multiple leadership roles over the last 16 years at the company. Early on he was responsible for Chegg's required materials offerings and was instrumental in shifting the company to a fully digital learning platform in his role as President of Learning Services. In 2022, he was elevated to the role of Chief Operating Officer, overseeing Chegg's learning services, including Chegg Study, Writing, and Math, and non-academic support, such as language learning and skills training. Under his leadership, Schultz led Chegg to embed AI into every facet of product development, specifically driving the formation of Chegg's unique and proprietary large language models that are the foundation for the company's new personalized learning experience.

Management

CHGG

Chegg Names Nathan Shultz As CEO

SBA Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NASDAQ">SBAC</a>) reported quarterly earnings of $3.29 per share which missed the analyst consensus estimate of $3.30 by 0.3 percent. The company reported quarterly sales of $657.862 million which missed the analyst consensus estimate of $669.969 million by 1.81 percent. This is a 2.61 percent decrease over sales of $675.516 million the same period last year.

SBA Comms Q1 2024 AFFO $3.29 Misses $3.30 Estimate, Sales $657.862M Miss $669.969M Estimate

Qiagen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) reported quarterly earnings of $0.46 per share which beat the analyst consensus estimate of $0.44 by 4.55 percent. This is a 9.8 percent decrease over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $458.796 million which beat the analyst consensus estimate of $457.330 million by 0.32 percent. This is a 5.48 percent decrease over sales of $485.398 million the same period last year.

QGEN

Qiagen Q1 2024 Adj EPS $0.46 Beats $0.44 Estimate, Sales $458.796M Beat $457.330M Estimate

Ekso Bionics Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) reported quarterly losses of $(0.20) per share which missed the analyst consensus estimate of $(0.16) by 25 percent. This is a 39.39 percent increase over losses of $(0.33) per share from the same period last year. The company reported quarterly sales of $3.756 million which missed the analyst consensus estimate of $4.993 million by 24.77 percent. This is a 8.88 percent decrease over sales of $4.122 million the same period last year.

EKSO

Ekso Bionics Holdings Q1 2024 GAAP EPS $(0.20) Misses $(0.16) Estimate, Sales $3.756M Miss $4.993M Estimate

MSTR

MicroStrategy shares are trading lower after the company reported Q1 financial results.

Chegg Announces Appointment Of Nathan Schultz as Chief Executive Officer, Effective Jun. 1

HOLX

Hologic To Acquire Endomagnetics For Approximately $310M; Endomagnetics Generated ~$35M In Revenue In 2023, Acquisition Expected To Be slightly Dilutive To Adj. EPS In FY24, Breakeven In 2025 And Accretive Thereafter

Paramount+ Revenue Up 51% Y/Y and Reached More Than 71M Global Subscribers, With 3.7M Net Additions In The Quarter

<ul>
<li>Delivers industry-leading DDR5 server PMIC for the highest performance and capacity memory modules required by AI and other advanced workloads</li>
<li>Supports multiple generations of high-performance DDR5-based servers with new family of PMICs</li>
<li>Provides a complete memory interface chipset for DDR5 server memory modules including RCD, PMIC, SPD Hub and Temperature Sensor ICs</li>
</ul>
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rambus.com%2F&amp;esheet=53955262&amp;newsitemid=20240424439305&amp;lan=en-US&amp;anchor=Rambus+Inc.&amp;index=1&amp;md5=20f68e7449eef97d19f4972adb9d4a09">Rambus Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), a premier chip and silicon IP provider making data faster and safer, today announced the availability of its new family of state-of-the-art DDR5 server Power Management ICs (PMICs), including an industry-leading extreme current device for high-performance applications. With this new family of server PMICs, Rambus offers module manufacturers a complete DDR5 RDIMM memory interface chipset supporting a broad range of data center use cases.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240424439305/en/">https://www.businesswire.com/news/home/20240424439305/en/</a>
"Advanced data center workloads like generative AI require the highest bandwidth and capacity server RDIMMs tailored to meet ever-increasing memory needs of a growing data pipeline," said Sean Fan, chief operating officer at Rambus. "With the addition of this new family of server PMICs, we expand our foundational technology and offer customers a comprehensive memory interface chipset that supports multiple DDR5 server platform generations."
"DDR5 memory modules incorporate new chip technologies to deliver higher levels of memory performance within the target power envelope," said Soo-Kyoum Kim, VP, memory semiconductors at IDC. "Rambus, a proven volume supplier of on-module memory interface chips, is ready to provide the critical PMIC components for the DDR5 memory module makers."
The PMIC is a critical component in the DDR5 memory architecture, enabling more memory channels, higher capacity modules and greater bandwidth. The Rambus DDR5 server PMIC family includes products for the JEDEC extreme current (PMIC5020), high current (PMIC5000) and low current (PMIC5010) specifications. The industry-leading Rambus PMIC5020 will enable future generations of DDR5 RDIMMs delivering new benchmarks for performance and capacity. This new family of Rambus server PMICs, together with Rambus DDR5 RCD, SPD Hub and Temperature Sensor ICs, comprise a complete memory interface chipset for a broad range of DDR5 RDIMM configurations and use cases. With over 30 years of high-performance memory experience, Rambus offers RDIMM manufacturers a one-stop shop for DDR5 memory interface chips, providing the highest level of validation assurance and speeding time to market.

RMBS

Rambus Expands Chipset For Advanced Data Center Memory Modules With DDR5 Server PMICs

Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) reported quarterly earnings of $0.26 per share which beat the analyst consensus estimate of $0.25 by 4 percent. The company reported quarterly sales of $174.40 million which beat the analyst consensus estimate of $174.10 million by 0.17 percent. This is a 7.04 percent decrease over sales of $187.60 million the same period last year.

Chegg Q1 2024 Adj EPS $0.26 Beats $0.25 Estimate, Sales $174.40M Beat $174.10M Estimate

Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) reported quarterly earnings of $1.62 per share which beat the analyst consensus estimate of $1.32 by 22.73 percent. This is a 60.4 percent increase over earnings of $1.01 per share from the same period last year. The company reported quarterly sales of $835.343 million which beat the analyst consensus estimate of $807.002 million by 3.51 percent. This is a 16.31 percent increase over sales of $718.214 million the same period last year.

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