10 Earnings Reports Drawing Attention

In this article, we will take a look at the 10 earnings reports drawing attention.

Investors are closely watching the fourth-quarter earnings season to gain valuable insight into the performance of their favorite companies. Recently, stocks from the communication services, consumer cyclical and technology sectors, including Roblox Corporation (NYSE:RBLX), Airbnb, Inc. (NASDAQ:ABNB), Shopify Inc. (NYSE:SHOP) and Analog Devices, Inc. (NASDAQ:ADI) came out with their latest quarterly reports.

Shares of Roblox and Shopify took a deep dive following their fourth-quarter results. On the other hand, shares of Airbnb and Analog Devices turned green following their upbeat profit and sales.

Several other companies, including ZoomInfo Technologies Inc. (NASDAQ:ZI), The Kraft Heinz Company (NASDAQ:KHC) and Generac Holdings Inc. (NYSE:GNRC), also came into the spotlight following their Q4 results.

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Earnings Reports Drawing Attention

10. Upstart Holdings, Inc. (NASDAQ:UPST)

Number of Hedge Fund Holders: 23

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) skyrocketed over 35 percent on Wednesday, February 16, 2022, following its upbeat financial performance for the fourth quarter.

Upstart Holdings, Inc. (NASDAQ:UPST) reported adjusted earnings of 89 cents per share, significantly higher than 7 cents per share reported in the year-ago period. Revenue for the quarter soared 252 percent versus last year to $305 million. The results crushed the consensus forecast of 51 cents per share for earnings and $262.9 million for revenue.

Looking forward, Upstart Holdings, Inc. (NASDAQ:UPST) expects revenue in the range of $295 – $305 million for the first quarter and about $1.4 billion for the full year.

Speaking on the results, CEO of Dave Girouard said in a statement:

“With triple-digit growth and record profits, Q4 was an exceptional finish to a breakout year for Upstart. 2021 will be remembered as the year AI lending came to the forefront, kicking off the most impactful transformation of credit in decades.”

9. Owens Corning (NYSE:OC)

Number of Hedge Fund Holders: 24

Shares of Owens Corning (NYSE:OC) recently climbed to an eight-month high after announcing better-than-expected financial results for the fourth quarter. The Ohio-based producer of building materials reported adjusted earnings of $2.20 per share, topping expectations of $1.91 per share.

In addition, the quarterly revenue of $2.13 billion also surpassed the consensus forecast of $2.04 billion. Owens Corning (NYSE:OC) also released its segment-wise sales performance. Insulation revenue climbed 19 percent to $863 million, composites revenue jumped 11 percent to $608 million, and roofing revenue inched up 1 percent to $712 million in the quarter.

Among other updates, Owens Corning (NYSE:OC) reported that its board had authorized a 10 million share repurchase plan. Looking forward, the company expects the residential housing market in the U.S. to remain strong in the near term.

Like Owens Corning (NYSE:OC), investors are also closely watching Roblox Corporation (NYSE:RBLX), Airbnb, Inc. (NASDAQ:ABNB) and Shopify Inc. (NYSE:SHOP), following their earnings reports.

8. Akamai Technologies, Inc. (NASDAQ:AKAM)

Number of Hedge Fund Holders: 24

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) turned red on Wednesday, February 16, 2022, despite beating profit and sales expectations for the fourth quarter. The company earned $1.49 per share on an adjusted basis, up from $1.33 per share in the comparable period of 2020.

In addition, revenue for the quarter rose 7 percent on a year-over-year basis to $905 million. Analysts were expecting Akamai Technologies, Inc. (NASDAQ:AKAM) to post earnings of $1.42 per share on revenue of  $899.26 million.

If we look at the sales performance of key segments of Akamai Technologies, Inc. (NASDAQ:AKAM), revenue from the security technology group jumped 23 percent to $365 million. On the downside, revenue from the edge technology group slipped 2 percent to $541 million in the quarter.

7. The Kraft Heinz Company (NASDAQ:KHC)

Number of Hedge Fund Holders: 33

Shares of The Kraft Heinz Company (NASDAQ:KHC) recently rose to a nearly one-month high after posting better-than-expected financial results for the fourth quarter. The Illinois-based food and beverage giant posted adjusted earnings of 79 cents per share, beating expectations of 63 cents per share.

Revenue for the quarter came in at $6.71 billion, ahead of analysts’ average estimate of $6.61 billion. The Kraft Heinz Company (NASDAQ:KHC) also released its region-wise sales performance. Its international sales increased 6.5 percent, while Canada sales rose 5.2 percent in the quarter. On the downside, sales in the U.S. decreased 6.8 percent on a year-over-year basis.

Overall, packaged food makers, including The Kraft Heinz Company (NASDAQ:KHC), capitalized on the elevated demand for their products following the coronavirus outbreak. However, increasing logistic and labor costs have been eating up their profit margins lately.

In response, The Kraft Heinz Company (NASDAQ:KHC) tried to balance the negative effects of the rising costs by lifting its products’ prices last year. Looking forward, the company is planning additional price hikes to better deal with rising raw material and shipping costs.

Like The Kraft Heinz Company (NASDAQ:KHC), Roblox Corporation (NYSE:RBLX), Airbnb, Inc. (NASDAQ:ABNB) and Shopify Inc. (NYSE:SHOP), also came into the limelight following their financial results.

6. Generac Holdings Inc. (NYSE:GNRC)

Number of Hedge Fund Holders: 39

Shares of Generac Holdings Inc. (NYSE:GNRC) jumped over 14 percent on Wednesday, February 16, 2022, after the Wisconsin-based backup generators maker delivered impressive profit and sales for the fourth quarter.

Generac Holdings Inc. (NYSE:GNRC) reported adjusted earnings of $2.51 per share, up from $2.12 per share in the year-ago period. Revenue for the quarter also jumped 40 percent on a year-over-year basis to $1.07 billion. The results easily exceeded the consensus of $2.40 per share for earnings and $1.02 billion for revenue.

If we look at the performance of the flagship business unit of Generac Holdings Inc. (NYSE:GNRC), residential product revenue climbed 42 percent versus last year to $706 million. In comparison, commercial & industrial product revenue jumped 43 percent to $284 million in the quarter.

Generac Holdings Inc. (NYSE:GNRC) also issued its revenue guidance for the full year. The company expects its 2022 revenue to increase in the range of 32 – 36 percent versus last year.

Speaking on the results, CEO Aaron Jagdfeld said:

“We are making important progress on Generac’s evolution into an energy technology solutions company as we completed several strategic acquisitions during the year and introduced a number of innovative technologies that will significantly expand our addressable markets.”

5. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 50

Shares of Roblox Corporation (NYSE:RBLX) recently plummeted to an all-time low after the California-based gaming company announced disappointing financial results for the fourth quarter.

Roblox Corporation (NYSE:RBLX) reported a loss of 25 cents per share, wider than the consensus forecast for a loss of 13 cents per share. Revenue for the quarter climbed 83 percent on a year-over-year basis to $568.8 million but fell short of analysts’ average estimate of $772 million.

Among other updates, Roblox Corporation (NYSE:RBLX) reported that booking jumped 20 percent versus last year to $770.1 million in the quarter, while average daily active users climbed 33 percent to 49.5 million.

Speaking on the results, CEO of Roblox Corporation (NYSE:RBLX), David Baszucki, said:

“With nearly 55 million daily active users, Roblox is increasingly an integral part of people’s lives. As we look ahead to 2022, we will continue to develop our technology to enable deeper forms of communication, immersion and expression on our platform.”

4. ZoomInfo Technologies Inc. (NASDAQ:ZI)

Number of Hedge Fund Holders: 57

Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) turned red on Wednesday, February 16, 2022, even after posting better-than-expected financial results for the fourth quarter. The company earned 18 cents per share on an adjusted basis, up from 12 cents per share in the year-ago period.

Revenue for the quarter skyrocketed 59 percent on a year-over-year basis to $222.3 million. Analysts expected ZoomInfo Technologies Inc. (NASDAQ:ZI) to post earnings of 13 cents per share on revenue of $207.69 million.

Looking forward, ZoomInfo Technologies Inc. (NASDAQ:ZI) guided for adjusted earnings in the range of 14 – 15 cents per share and revenue between $226 – $228 million for the first quarter. For the full year, the company expects adjusted earnings of 71 – 73 cents per share and revenue of $1.01 – $1.02 billion.

3. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 58

Shares of Airbnb, Inc. (NASDAQ:ABNB) recently jumped to a two-month high following its impressive financial results for the fourth quarter, helped by continued recovery from the coronavirus pandemic.

Airbnb, Inc. (NASDAQ:ABNB) reported adjusted earnings of 8 cents per share, beating expectations of 3 cents per share. In addition, the quarterly revenue of $1.5 billion was up nearly 80 percent versus last year and above analysts’ average estimate of $1.46 billion.

The California-based online marketplace for lodging also released its sales outlook for the first quarter. Airbnb, Inc. (NASDAQ:ABNB) expects to generate revenue in the range of $1.41 – $1.48 billion for the current quarter, above expectations of $1.24 billion.

Discussing the results, CEO Brian Chesky said in a statement:

“The fourth quarter was another record quarter and 2021 was the best year in Airbnb’s history – despite the global pandemic. We are amidst the biggest change to travel since the advent of commercial flying. Airbnb’s adaptable model and relentless innovation are making it possible for us to grow this new category of travel we created.”

2. Shopify Inc. (NYSE:SHOP)

Number of Hedge Fund Holders: 73

Shares of Shopify Inc. (NYSE:SHOP) plunged to an eight-month low on Wednesday, February 16, 2022, despite posting its fourth-quarter results above expectations. The Canadian e-commerce company reported adjusted earnings of $1.36 per share, better than analysts’ average estimate of $1.27 per share.

In addition, Shopify Inc. (NYSE:SHOP) generated revenue of $1.38 billion, which topped the consensus forecast of $1.34 billion. Looking at the performance of its flagship segments, subscription solutions revenue for the quarter jumped 26 percent on a year-over-year basis to $351.2 million. In comparison, merchant solutions revenue climbed 47 percent to $1.028 billion.

Speaking on the results, President of Shopify Inc. (NYSE:SHOP), Harley Finkelstein, said in a statement:

“The last two years have been extraordinary. We nearly tripled revenue, more than doubled GMV and the Shopify team, and the number of merchants using Shopify is nearly twice as big as 2019 levels. We are emerging from the sprint of these last two years even stronger and more ambitious, since the accelerated leap into digital commerce means we can go farther faster for merchants and buyers alike.”

1. Analog Devices, Inc. (NASDAQ:ADI)

Number of Hedge Fund Holders: 74

Shares of Analog Devices, Inc. (NASDAQ:ADI) closed higher on Wednesday, February 16, 2022, after the Massachusetts-based semiconductor company delivered solid profit and sales for its fiscal first quarter.

Analog Devices, Inc. (NASDAQ:ADI) reported adjusted earnings of $1.94 per share, up from $1.44 per share in the comparable period one year ago. Revenue for the quarter climbed 72 percent versus last year to $2.68 billion. The results topped analysts’ average estimate of $1.77 per share for earnings and $2.60 billion for revenue.

The company also released its segment-wise sales performance. Analog Devices, Inc. (NASDAQ:ADI) reported that its industrial revenue jumped 57 percent to $1.34 billion, while automotive revenue skyrocketed 124 percent to $552.7 million in the quarter. In comparison, communications revenue soared 46 percent to $412.4 million and consumer revenue climbed 117 percent to $378.1 million.

Analog Devices, Inc. (NASDAQ:ADI) also updated the financial outlook for its fiscal second quarter. It guided for adjusted earnings in the range of $1.97 – $2.17 per share and revenue between $2.7 – $2.9 billion. Analysts were looking for earnings of $1.84 per share on revenue of $2.64 billion.

Commenting on the quarter, CEO Vincent Roche said:

“ADI delivered its fourth consecutive quarter of record revenue with momentum across all end markets and geographies. The growing demand for our solutions and our commitment to operational excellence enabled adjusted gross margin, operating margin and EPS to achieve new highs.”

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Disclosure: None. 10 Earnings Reports Drawing Attention is originally published on Insider Monkey