Earnings Recap - February 27, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$ADSK** - Autodesk reported strong Q4 results, driving its stock up 7.59% to $241.88. The company benefited from robust demand in its software segment, likely fueled by increased AI-related investments. The positive market reaction reflects confidence in Autodesk's growth trajectory amid the AI-driven tech expansion. **$BFLY** - Butterfly Network surged 50.32% to $4.66 after reporting Q4 earnings that exceeded expectations. The company's innovative medical imaging technology and improving EBITDA margins contributed to the strong performance, signaling operational leverage and market acceptance. **$BWIN** - Baldwin & Lyons reported solid Q4 results, lifting shares 14.52% to $19.40. The company showed resilience in its core business, with earnings and revenue surpassing estimates, supporting the positive sentiment. **$ASUR** - Asure Software gained 14.56% to $8.50 following a Q4 beat. The company’s focus on workforce management solutions and recurring revenue streams helped it outperform revenue estimates. **$ENOV** - Enovis jumped 13.89% to $25.42 after reporting strong quarterly results. The medical device maker's growth in key product lines and margin expansion impressed investors. **$MARA** - MARA Holdings rose 13.65% to $9.74 after announcing a new data center development deal with Starwood, alongside its Q4 earnings release. The company is pivoting beyond pure-play bitcoin mining, leveraging its bitcoin holdings for financial flexibility, which has been well received by the market. **$REAL** - The RealReal climbed 12.48% to $13.52 on better-than-expected Q4 results. The luxury consignment platform showed strong platform growth leading to sizable EBITDA gains, improving investor confidence. **$NWPX** - NWPX Infrastructure surged 10.34% to $81.66 after reporting Q4 earnings that beat expectations. The infrastructure firm’s solid performance and outlook contributed to the rally. **$CSTL** - Castle Biosciences shares rose 8.01% to $33.30 following a positive Q4 earnings report, reflecting growth in its diagnostic testing business. **$BLFS** - BioLife Solutions gained 4.58% to $23.50 after reporting better-than-expected quarterly results, supported by growth in cell and gene therapy markets. **$FIGS** - FIGS surged 20.26% to $13.18 after its Q4 earnings beat estimates, driven by strong demand for its healthcare apparel and improved margins. **$PUBM** - PubMatic jumped 21.88% to $8.02 after beating Q4 EPS estimates by $0.11, despite revenue falling short. The digital advertising technology company’s growth outlook remains positive. **$STRA** - Strategic Education beat Q4 EPS estimates with $1.74 vs. $1.41 expected and revenue of $323.21 million beating $322.23 million estimates, lifting shares. ### Misses & Negative Reactions **$AIRG** - Airgain missed Q4 adjusted EPS at $(0.03) vs. $(0.02) estimate and revenue of $12.125 million vs. $12.7 million expected, causing a 14.29% drop to $4.05. The miss reflects ongoing challenges in the wireless connectivity market. **$AMPH** - Amphastar Pharmaceuticals plunged 19.56% to $22.50 after missing earnings expectations. The company faces margin pressures and competitive headwinds in the specialty pharma space. **$AMBA** - Ambarella fell 11.01% to $62.55 despite reporting Q4 results, indicating investor concerns about growth sustainability in its semiconductor business. **$WLDN** - Willdan Group dropped 11.01% to $104.21 after Q4 earnings showed a slowdown, despite a solid backlog, raising questions about near-term growth. **$PSTG** - Pure Storage declined 11.50% to $65.10 after missing revenue estimates despite an EPS beat, reflecting cautious outlook amid competitive pressures. **$PRCT** - PROCEPT BioRobotics dropped 15.59% to $23.50 following an earnings call that highlighted margin challenges and cautious guidance. **$CARS** - Cars.com shares fell 15.18% to $9.11 after missing Q4 revenue and EPS estimates, reflecting uncertainty in the online automotive marketplace. **$VXRT** - Vaxart plunged 23.86% to $0.33 after disappointing Q4 results and weak outlook in the biotech sector. **$XPOF** - Xponential Fitness dropped 22.48% to $6.38 after reporting a significant earnings miss and margin compression. **$EBS** - Emergent BioSolutions declined 21.25% to $8.67 on a Q4 earnings miss and revenue shortfall, highlighting ongoing operational challenges. **$EXFY** - Expensify fell 7.87% to $1.17 after missing Q4 revenue estimates, signaling slower growth in expense management software. **$PGNY** - Progyny dropped 5.11% to $20.24 despite solid revenue, as margin pressures and cautious guidance weighed on the stock. ## Reporting Today Companies expected to report earnings today: - **$ABR** - Arbor Realty Trust Inc - Before market - Watch for EPS estimate of $0.129 and revenue around $119 million in mortgage REIT segment. - **$ALXO** - Alx Oncology Holdings Inc - Before market - Key biotech metrics with EPS estimate at -$0.40. - **$AMR** - Alpha Metallurgical Resources Inc - Before market - EPS estimate at -$1.34, revenue expected near $520 million. - **$AMRX** - Amneal Pharmaceuticals Inc - Before market - EPS estimate $0.1841, revenue around $807 million; watch for margin trends and guidance. - **$ANIP** - ANI Pharmaceuticals Inc - Before market - EPS estimate $1.9821, revenue about $231 million. - **$BTSG** - BrightSpring Health Services Inc - Before market - EPS estimate $0.329, revenue near $3.4 billion. - **$BVN** - Compania de Minas Buenaventura S.A. ADR - Before market - Reported EPS $1.51 vs. estimate $0.673, revenue $623 million vs. $522 million; strong beat expected to influence trading. - **$CLMT** - Calumet Inc - Before market - EPS estimate -$0.3707, revenue $1.03 billion. - **$CRI** - Carters Inc - Before market - EPS estimate $1.7429, revenue $922 million; key apparel retail metrics to watch. - **$DCBO** - Docebo Inc - Before market - EPS estimate $0.3544, revenue $63 million. - **$DIBS** - 1stdibs.com Inc - Before market - EPS estimate -$0.04, revenue $23 million. - **$DK** - Delek US Holdings Inc - Before market - EPS estimate -$0.1892, revenue $2.5 billion. - **$DKL** - Delek Logistics Partners LP - Before market - EPS estimate $1.1199, revenue $284 million. - **$ESCA** - Escalade, Inc - Before market - EPS estimate $0.20, revenue $58 million. - **$EXK** - Endeavour Silver Corp - Before market - EPS estimate $0.0514, revenue $171 million. - **$FLGT** - Fulgent Genetics Inc - Before market - EPS estimate $0.0298, revenue $85 million. - **$FRO** - Frontline Plc - Before market - EPS estimate $1.142, revenue $456 million. - **$GLP** - Global Partners LP - Before market - EPS estimate $0.60, revenue $6.9 billion. - **$GOGO** - Gogo Inc - Before market - EPS estimate $0.01, revenue $221 million. - **$GSAT** - Globalstar Inc - Before market - EPS estimate -$0.0155, revenue $71 million. - **$INTT** - Intest Corp - Before market - EPS estimate $0.11, revenue $31 million. - **$LIQT** - LiqTech International Inc - Before market - EPS estimate -$0.17, revenue $5 million. - **$NIQ** - NIQ Global Intelligence plc - Before market - EPS estimate $0.2905, revenue $1.12 billion. - **$NWN** - Northwest Natural Holding Co - Before market - EPS estimate $1.36, revenue $435 million. - **$PSO** - Pearson plc ADR - Before market - Reported EPS 0.5233 inline with estimates, revenue $2.52 billion. - **$RADX** - Radiopharm Theranostics Ltd ADR - Before market - Reported EPS -2.2386 vs. estimate -1.508, revenue $1 million. - **$SHO** - Sunstone Hotel Investors Inc - Before market - EPS estimate -0.0007, revenue $223 million. - **$TAC** - Transalta Corp - Before market - EPS estimate $0.0326, revenue $500 million. - **$TCPC** - BlackRock TCP Capital Corp - Before market - EPS estimate $0.2532. - **$TMCI** - Treace Medical Concepts Inc - Before market - EPS estimate -0.1543, revenue $62 million. ## Earnings Themes - Revenue growth remains mixed across sectors, with technology and healthcare companies generally beating estimates, while some industrials and specialty pharma firms face margin pressures. - Margin expansion is evident in companies like Autodesk, Enovis, and Butterfly Network, driven by operational efficiencies and product mix improvements. - Guidance sentiment is cautious in specialty pharma and certain tech hardware firms, with some lowering outlooks amid competitive and macroeconomic headwinds. - AI-related investments continue to drive strong earnings beats and positive market reactions, as seen in Autodesk and MARA Holdings. - Digital advertising and software firms show resilience, though some like Pure Storage and Expensify reveal challenges in sustaining revenue growth. ## Earnings Trade Ideas 1. **$ADSK** (Autodesk) - The strong Q4 beat and 7.6% stock jump highlight robust demand for AI-enabled design software. Investors may consider buying on dips, anticipating continued growth fueled by AI adoption across industries. 2. **$MARA** (MARA Holdings) - Following its Q4 beat and strategic data center deal, MARA is repositioning beyond bitcoin mining. The stock’s 13.65% rise suggests an attractive entry point for investors seeking exposure to crypto infrastructure with a diversified business model.