10 Quarterly Reports Grabbing Everyone’s Attention

In this article, we will take a look at the 10 quarterly reports grabbing everyone’s attention.

Discount store operator Ross Stores, Inc. (NASDAQ:ROST), agricultural equipment maker Deere & Company (NYSE:DE) and cybersecurity company Palo Alto Networks, Inc. (NASDAQ:PANW) were among the notable stocks that recently released their earnings reports.

If we look at their price actions, Ross Stores stock plunged to a nearly two-year low following its disappointing quarterly results, while Palo Alto shares jumped over 11 percent after delivering impressive financial performance for its fiscal third quarter. Meanwhile, Deere shares dropped in the pre-market trading Friday, May 20, even after announcing better-than-expected profit and sales.

Photo by Adam Nowakowski on Unsplash

Many other companies, including footwear and apparel retailer Deckers Outdoor Corporation (NYSE:DECK) and tech giant Applied Materials, Inc. (NASDAQ:AMAT), were also trending after posting their financial results.

Quarterly Reports Grabbing Everyone’s Attention

10. Monro, Inc. (NASDAQ:MNRO)

Number of Hedge Fund Holders: 13

Shares of Monro, Inc. (NASDAQ:MNRO) fell over eight percent on Thursday, May 19, 2022, after missing profit expectations for its fiscal fourth quarter. The automotive service company reported adjusted earnings of 20 cents per share, down from 38 cents per share in the year-ago period.

Revenue increased to $328 million, from $305.5 million in the comparable period of 2021. Analysts’ were expecting Monro, Inc. (NASDAQ:MNRO) to earn 46 cents per share on revenue of $324.66 million.

Another downside in the latest quarterly report was Monro’s gross margin, which fell 320 basis points on a year-over-year basis to 31.9 percent. Among other updates, Monro, Inc. (NASDAQ:MNRO) reported that its board approved a plan of repurchasing up to $150 million worth of its common stock. Moreover, the company also raised its fiscal first-quarter cash dividend to 28 cents per share, from 26 cents per share.

Speaking on the results, CEO Mike Broderick said in a statement:

“During fiscal 2022, we made significant investments in technician headcount to expand sales and earnings. While this put pressure on gross margin, it has positioned us to capture growing industry demand for our products and services.”

9. Lightspeed Commerce Inc. (NYSE:LSPD)

Number of Hedge Fund Holders: 20

Lightspeed Commerce Inc. (NYSE:LSPD) recently announced better-than-expected financial results for its fiscal fourth quarter as an increasing number of people shopped and dined in person amid ease in coronavirus restrictions.

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) jumped over 10 percent following the results.

The retail commerce platform reported an adjusted loss of 15 cents per share, narrower than analysts’ average estimate for a loss of 19 cents per share. Revenue for the quarter skyrocketed 78 percent versus last year to $146.6 million, while analysts were expecting Lightspeed Commerce Inc. (NYSE:LSPD) to post revenue of $141.9 million.

In addition, the gross payment volume, a key growth indicator, climbed 132 percent on a year-over-year basis to $2.2 billion. Lightspeed Commerce Inc. (NYSE:LSPD) also released its segment-wise sales results. Its subscription revenue jumped 77 percent to $70.5 million, while transaction-based revenue soared 88 percent to $66.7 million in the quarter.

Looking forward, Lightspeed Commerce Inc. (NYSE:LSPD) expects revenue in the range of $165 – $170 million for its fiscal first quarter and between $740 – $760 million for its fiscal year 2023.

Like Lightspeed Commerce Inc. (NYSE:LSPD), investors are also closely observing Ross Stores, Inc. (NASDAQ:ROST), Deere & Company (NYSE:DE) and Palo Alto Networks, Inc. (NASDAQ:PANW) following their quarterly reports.

8. Flowers Foods, Inc. (NYSE:FLO)

Number of Hedge Fund Holders: 20

Shares of Flowers Foods, Inc. (NYSE:FLO) marginally moved up in the extended hours on Thursday, May 19, 2022, after beating profit and sales expectations for its fiscal first quarter. The packed bakery food producer earned 44 cents per share on an adjusted basis, up from 41 cents per share in the same period last year.

In addition, Flowers Foods, Inc. (NYSE:FLO) posted revenue of $1.436 billion, up 10.3 percent on a year-over-year basis. The results exceeded analysts’ average estimate of 39 cents per share for earnings and $1.40 billion for revenue.

On the downside, Flowers Foods, Inc. (NYSE:FLO) cut its profit outlook for the full year, citing increasing inflation and supply chain hurdles. The company now expects adjusted earnings in the range of $1.20 – $1.30 per share, down from its earlier projection of $1.25 – $1.35 per share.

The midpoint of the updated guidance is below the consensus of $1.28 per share. Moving forward, Flowers Foods, Inc. (NYSE:FLO) plans to increase product prices to deal with resource shortages and unstable commodity prices.

Discussing the results, CEO Ryals McMullian said in a statement:

“Focused implementation of our portfolio strategy drove market share gains for our leading brands, as consumers continued to gravitate to these differentiated products despite widespread inflation.”

7. V.F. Corporation (NYSE:VFC)

Number of Hedge Fund Holders: 21

Shares of V.F. Corporation (NYSE:VFC) turned green in the after-hours trading session on Thursday, May 19, 2022, despite posting lower-than-expected financial results for its fiscal fourth quarter.

V.F. Corporation (NYSE:VFC) reported that its adjusted earnings for the quarter jumped 67 percent on a year-over-year basis to 45 cents per share. However, it fell slightly short of 46 cents per share estimated by analysts.

Moreover, revenue for the quarter increased 9 percent versus last year to $2.8 billion, while analysts were expecting V.F. Corporation (NYSE:VFC) to post revenue of $2.84 billion. The surge in revenue was primarily driven by solid contributions from North America and EMEA regions. However, a drop in the Asia-Pacific region due to pandemic-related lockdowns dragged down the total quarterly sales.

In addition, gross margin for the quarter slipped to 51.9 percent amid higher freight costs. Among other updates, V.F. Corporation (NYSE:VFC) reported that its board authorized a quarterly dividend of 50 cents per share.

For its fiscal year 2023, V.F. Corporation (NYSE:VFC) guided for earnings in the range of $3.30 – $3.40 per share, above analysts’ average estimate of $3.20 per share.

Like V.F. Corporation (NYSE:VFC), Ross Stores, Inc. (NASDAQ:ROST), Deere & Company (NYSE:DE) and Palo Alto Networks, Inc. (NASDAQ:PANW) also came into the spotlight following their quarterly reports.

6. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ)

Number of Hedge Fund Holders: 30

BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) recently delivered impressive profit and sales for its fiscal first quarter, sending its share up more than seven percent on Thursday, May 19, 2022.

The membership-only warehouse club chain reported adjusted earnings of 87 cents per share, crushing expectations of 71 cents per share. In addition, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) posted revenue of $4.49 billion, representing a growth of 16.2 percent over the same quarter of 2021. Analysts were expecting revenue of $4.24 billion. The latest quarterly performance was mainly driven by a 14.4 percent surge in total comparable club sales.

In addition, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) reported that its membership count increased to 6.5 million in the quarter, while membership fee income jumped 11.9 percent to $96.6 million.

Speaking on the results, CFO Laura Felice said:

“We are pleased with our performance in the first quarter and remain optimistic that the strength of our core business will continue to drive long-term growth. Our fiscal year 2022 EPS outlook of flat year-over-year remains unchanged.”

5. Ross Stores, Inc. (NASDAQ:ROST)

Number of Hedge Fund Holders: 39

Shares of Ross Stores, Inc. (NASDAQ:ROST) plummeted over 27 percent, hitting a nearly two-year low, in the pre-market trading session on Friday, May 20, 2022. The drop followed the company’s disappointing financial performance for its fiscal first quarter.

Ross Stores, Inc. (NASDAQ:ROST) reported earnings of 97 cents per share, well below $1.34 per share in the year-ago period. Revenue for the quarter also slipped 4.1 percent versus last year to $4.33 billion. The results missed the consensus of $1 per share for earnings and $4.53 billion for revenue.

Looking forward, Ross Stores, Inc. (NASDAQ:ROST) expects earnings in the range of 99 cents – $1.07 per share for the current quarter and between $4.34 – $4.58 per share for the full year. The outlook came in below the consensus of $1.33 per share for its fiscal second quarter and $5.02 per share for its fiscal 2022.

CEO Barbara Rentler also seemed displeased with the latest performance. She said in a statement:

“We are disappointed with our lower-than-expected first quarter results. Following a stronger-than-planned start early in the period, sales underperformed over the balance of the quarter. We knew fiscal 2022 would be a difficult year to predict, especially the first half when we were facing last year’s record levels of government stimulus and significant customer pent-up demand as COVID restrictions eased.”

4. Deckers Outdoor Corporation (NYSE:DECK)

Number of Hedge Fund Holders: 46

Shares of Deckers Outdoor Corporation (NYSE:DECK) jumped over 14 percent in the pre-market trading session on Friday, May 20, 2022, after its fiscal fourth-quarter results improved significantly on a year-over-year basis.

Deckers Outdoor Corporation (NYSE:DECK) reported earnings of $2.51 per share, well above $1.18 per share in the year-ago period. Revenue for the quarter climbed 31.2 percent to $736 million. The results crushed analysts’ average estimate of $1.32 per share for earnings and $639.20 million for revenue.

Deckers Outdoor Corporation (NYSE:DECK) also disclosed its region-wise sales performance. Its domestic revenue climbed 37.4 percent to $521 million, while international revenue surged 18.2 percent to $215.1 million in the quarter.

For its fiscal year 2023, Deckers Outdoor Corporation (NYSE:DECK) guided for earnings in the range of $17.40 – $18.25 per share and revenue between $3.45 – $3.50 billion.

3. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 61

Shares of Deere & Company (NYSE:DE) fell over six percent in the pre-market trading session on Friday, May 20, 2022, despite announcing better-than-expected financial results for its fiscal second quarter.

Deere & Company (NYSE:DE) reported earnings of $6.81 per share, ahead of the consensus of $6.71 per share. Revenue for the quarter advanced 11 percent on a year-over-year basis to $13.37 billion, topping estimates of $13.2 billion.

Deere & Company (NYSE:DE) also raised its profit outlook for the full year, citing solid demand for its agricultural machinery. The company now expects earnings in the range of $7.0 – $7.4 billion versus its previous projection of $6.7 – $7.1 billion.

Discussing the outlook, CEO John May said in a statement:

“Looking ahead, we believe demand for farm equipment will continue benefiting from positive fundamentals in spite of availability concerns and inflationary pressures affecting our customers’ input costs.”

2. Palo Alto Networks, Inc. (NASDAQ:PANW)

Number of Hedge Fund Holders: 73

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) turned green in the pre-market trading session on Friday, May 20, 2022, after delivering impressive profit and sales for its fiscal third quarter.

Palo Alto Networks, Inc. (NASDAQ:PANW) reported adjusted earnings of $1.79 per share, up from $1.38 per share in the same period of the prior year. Revenue came in at $1.39 billion, up 29 percent on a year-over-year basis. Analysts were looking for earnings of $1.68 per share on revenue of $1.36 billion.

Palo Alto Networks, Inc. (NASDAQ:PANW) also lifted its financial outlook for the full year. The cybersecurity company now expects adjusted earnings in the range of $7.43 – $7.46 per share and revenue between $5.481 – $5.501 billion. The updated guidance is above the consensus of $7.29 per share for earnings and $5.46 billion for revenue.

Speaking on the results, CFO Dipak Golechha said:

“Our drive to deliver strong total shareholder return in Q3 was headlined by our revenue growth, while we also balanced operating margin expansion and free cash flow conversion. We look forward to continuing this balance as we close out the year and look to FY23.”

1. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 78

Shares of Applied Materials, Inc. (NASDAQ:AMAT) slipped nearly one percent in the pre-market trading session on Friday, May 20, 2022, after missing financial expectations for its fiscal second quarter and issuing a weak outlook for the current quarter.

Applied Materials, Inc. (NASDAQ:AMAT) earned $1.85 per share on an adjusted basis, compared to $1.63 per share in the same period of 2021. Revenue for the quarter increased to $6.25 billion versus $5.58 billion in the comparable period of the prior year. The results fell short of the consensus of $1.90 per share for earnings and $6.37 billion for revenue.

For its fiscal third quarter, Applied Materials, Inc. (NASDAQ:AMAT) projected adjusted earnings in the range of $1.59 – $1.95 per share and revenue between $5.85 – $6.65 billion. However, analysts were looking for earnings of $2.04 per share on revenue of $6.73 billion.

Commenting on the quarter, CEO Gary Dickerson said:

“Demand for Applied Materials’ products and services has never been stronger, yet we remain constrained by on-going supply chain issues. Our priority is to work quickly and creatively across the supply chain to bring more industry capacity on-line, while accelerating the technology inflections that we believe will enable Applied to outgrow the semiconductor market in the years ahead.”

You can also take a peek at Analysts Are Recommending These 10 Dividend Stocks and 10 Favorite Stocks of Dan Loeb’s Third Point.

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Disclosure: None. 10 Quarterly Reports Grabbing Everyone’s Attention is originally published on Insider Monkey.