In this article, we will take a look at the 10 quarterly reports grabbing everyone’s attention. You can skip our detailed analysis of these companies and go directly to the 5 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.”
Click to continue reading and see 5 Quarterly Reports Grabbing Everyone’s Attention.
Suggested articles:
- 10 Most Anticipated IPOs of 2022
- 10 Fertilizer Stocks to Buy Today
- 10 Blue Chip Stocks with Dividends
Disclosure: None. 10 Quarterly Reports Grabbing Everyone’s Attention is originally published on Insider Monkey.
