Earnings Recap - March 13, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$APEI** - American Public Education, Inc. reported Q4 earnings that beat estimates, driving a 7.13% stock gain to $49.00. The company showed resilience in the education sector, which is notable given mixed industry trends. **$LOCO** - El Pollo Loco Holdings beat Q4 consensus with adjusted EPS of $0.25 versus $0.20 expected and revenue of $123.515 million beating $122.783 million estimates. Despite the positive surprise, shares fell 7.46% to $64.77, possibly due to cautious forward commentary or profit-taking after recent gains. **$MOS** - Mosaic surged 8.07% to $31.50 following strong fertilizer demand amid global supply concerns linked to the Middle East conflict, highlighting the commodity-driven rally in agriculture inputs. **$DOW** - Dow Chemicals jumped 9.40% to $37.60, reflecting investor optimism on pricing power and supply chain resilience amid geopolitical tensions impacting energy and raw materials. **$CME** - CME Group rose 3.06% to $312.60 after reporting solid asset inflows and revenue growth, benefiting from increased market volatility and trading volumes. **$DELL** - Dell Technologies gained 2.63% to $151.25, supported by steady demand for enterprise IT hardware and services. **$PCOR** - Procore Technologies climbed 3.71% to $58.17 despite a recent insider sale, indicating confidence in its construction software growth trajectory. **$JYNT** - The Joint Corp. rose 4.58% to $8.90 after delivering a positive earnings surprise, reflecting strength in its healthcare services segment. **$SVCO** - Silvaco Group surged 12.68% to $3.75 on strong Q4 results and positive outlook in semiconductor software. **$TOI** - The Oncology Institute jumped 11.37% to $3.07, signaling investor enthusiasm for its niche biotech pipeline. ### Misses & Negative Reactions **$ADBE** - Adobe reported earnings that disappointed the market, leading to a sharp 9.94% drop to $246.49. The company also announced a $75 million settlement related to a US lawsuit over fees and subscription cancellations, weighing on sentiment. **$CRMT** - America's Car-Mart plunged 21.21% to $15.01 after missing Q4 earnings and revenue estimates, signaling challenges in the used car retail segment. **$CRVS** - Corvus Pharmaceuticals declined 7.34% to $15.66 following a disappointing Q4 earnings call, reflecting ongoing execution risks in its drug development pipeline. **$GIII** - G-III Apparel Group fell 10.38% to $26.50 after reporting weaker-than-expected results, highlighting headwinds in apparel retail. **$SNES** - SenesTech dropped 17.48% to $1.70 on earnings miss and revenue shortfall, underscoring challenges in its pest control business. **$PD** - PagerDuty tumbled 17.10% to $6.11 after Q4 earnings missed estimates, raising concerns about growth sustainability in the software-as-a-service space. **$NVGS** - Navigator Holdings declined 11.89% to $18.01 despite a bond offering, reflecting market caution on shipping sector fundamentals. **$KLC** - KinderCare Learning Companies plunged 30.09% to $2.30 after flagging a first annual loss in 70 years and issuing weak guidance, signaling significant operational challenges. **$TTAN** - ServiceTitan dropped 8.29% to $71.98 despite reporting Q4 results, suggesting investor skepticism on margin expansion prospects. **$SHIM** - Shimmick Corporation fell 6.04% to $2.80 after mixed Q4 results and cautious outlook. **$AFYA** - Afya Ltd reported a 24% EPS beat but revenue missed estimates slightly, and shares declined 3.31% to $13.42, indicating mixed investor reaction to education sector dynamics. ## Reporting Today Companies expected to report earnings today: - **$ACXP** (Acurx Pharmaceuticals Inc) - Before market - EPS estimate -1.0133, revenue estimate $0M. Watch for biotech trial updates and cash burn metrics. - **$BETR** (Better Home & Finance Holding Co) - Before market - EPS estimate -2.0075, revenue estimate $41M. Key to monitor mortgage finance sector health. - **$BKE** (Buckle, Inc) - Before market - EPS estimate 1.5068, revenue estimate $337M. Apparel retail trends and inventory management will be focal. - **$CNTY** (Century Casinos Inc) - Before market - Reported EPS -0.61 vs estimate -0.4696, revenue $138M vs $141M estimate. Watch for commentary on gaming demand. - **$CREX** (Creative Realities Inc) - Before market - EPS estimate -0.0333, revenue estimate $22M. Software application sector updates expected. - **$DOUG** (Douglas Elliman Inc) - Before market - Reported EPS 0.03. Real estate services outlook and housing market commentary anticipated. - **$EEX** (Emerald Holding Inc) - Before market - Reported EPS -0.1314 vs estimate 0.045, revenue $133M vs $131M estimate. Advertising agency sector challenges noted. - **$EPRX** (Eupraxia Pharmaceuticals Inc) - Before market - EPS in line at -0.1516, revenue $0M. Biotech pipeline updates expected. - **$EVEX** (Eve Holding Inc) - Before market - EPS estimate -0.156, revenue $0M. Cannabis and wellness sector trends to watch. - **$KYIV** (Kyivstar Group Ltd) - Before market - EPS 0.3233 vs 0.3133 estimate, revenue $321M vs $299M estimate. Telecom services growth amid geopolitical risks. - **$RLX** (RLX Technology Inc ADR) - Before market - EPS 0.025 vs 0.0328 estimate, revenue $166M vs $152M estimate. Tobacco sector dynamics. - **$STKS** (ONE Group Hospitality Inc) - Before market - EPS estimate 0.182, revenue estimate $210M. Hospitality recovery signals. - **$VEON** (VEON Ltd ADR) - Before market - EPS estimate 1.325, revenue estimate $1118M. Telecom sector resilience and emerging markets focus. - **$WALD** (Waldencast plc) - Before market - EPS estimate -0.085, revenue estimate $75M. Household products sector updates. Overall, the earnings calendar today is moderately busy with a mix of biotech, retail, telecom, and industrial companies reporting. ## Earnings Themes - Revenue trends show mixed results with commodity-related companies like Mosaic and Dow benefiting from geopolitical supply shocks, while tech and retail companies face headwinds. - Margin pressures are evident in software and retail sectors, as seen with Adobe’s disappointing results and Buckle’s cautious outlook. - Guidance sentiment is cautious overall, with several companies either lowering outlooks or showing mixed signals amid macroeconomic and geopolitical uncertainties. - Biotech companies continue to report losses but are closely watched for pipeline progress and trial updates. - The impact of the Middle East conflict on energy and commodity prices is a recurring theme, benefiting select sectors but increasing market volatility. ## Earnings Trade Ideas 1. **$MOS (Mosaic)** - The fertilizer producer is a clear beneficiary of the current commodity supply disruption, with strong earnings and a significant stock price jump. Investors looking for a commodity play with defensive qualities amid geopolitical uncertainty should consider Mosaic as a trade idea. 2. **$ADBE (Adobe)** - The sharp post-earnings sell-off to $246.49 after missing estimates and legal settlement news presents a potential buying opportunity for long-term investors. Adobe’s strong market position and accelerating revenue growth could offer a rebound as the market digests near-term challenges. 3. **$LOCO (El Pollo Loco)** - Despite beating earnings and revenue estimates, shares fell sharply. This divergence suggests a potential short-term trading opportunity on volatility, especially if management provides clearer guidance or operational updates in upcoming calls. Traders should monitor today’s biotech reports for potential catalysts and watch for any shifts in guidance amid ongoing macro risks.