PVH, Progress Software, and 3 Stocks to Keep an Eye on for Monday – Babcock & Wilcox
U.S. stock futures are pointing towards a lower opening today, prompting investors to keep an eye on various stocks that are expected to make moves. PVH Corp. is anticipated to announce quarterly earnings of $3.22 per share with revenue totaling $2.34 million. After-hours trading saw PVH shares drop by 1.6%. Progress Software Corp. is projected to post earnings of $1.06 per share on revenue of $235.63 million. Meanwhile, Xos Inc. reported a significant revenue increase in 2024, climbing to $56 million from $44.5 million in the previous year. The company also delivered more units in 2024 than in 2023, resulting in improved GAAP gross margins. Xos shares rose by 12.8% in the after-hours trading session.
Looking ahead, Loar Holdings Inc. is set to announce earnings of 10 cents per share on revenue of $102.54 million. On the other hand, Babcock & Wilcox Enterprises Inc. is expected to report a quarterly loss of 1 cent per share on revenue of $213.07 million after the closing bell, with its shares increasing by 1.3% in after-hours trading.
Despite the overall decline in the stock market, some companies managed to perform well in the face of adversity. Xos Inc., in particular, saw a significant boost in revenue in 2024. The company’s delivery of 297 units in 2024, compared to 283 in the previous year, contributed to this positive outcome. Furthermore, Xos experienced a notable improvement in GAAP gross margins, reflecting a shift from negative margins in 2023 to positive margins in 2024. As a result, Xos shares soared by 12.8% during after-hours trading, indicating investor confidence in the company’s performance.
In conclusion, while the broader market may be experiencing a downturn, individual companies are still showing resilience and adaptability. Xos Inc.’s success in increasing revenue and improving gross margins in 2024 demonstrates that, with effective strategies and a focus on growth, companies can weather the storm and emerge stronger in challenging economic environments.