10 Quarterly Reports You Don’t Want to Miss

In this article, we will take a look at the 10 quarterly reports you don’t want to miss.

Notable stocks from the energy and industrials sectors, including Exxon Mobil Corporation (NYSE:XOM), United Parcel Service, Inc. (NYSE:UPS) and Stanley Black & Decker, Inc. (NYSE:SWK), recently posted their financial results for the fourth quarter.

Shares of Exxon Mobil and United Parcel Service climbed to new highs after delivering an upbeat profit. However, Stanley Black & Decker stock turned red after its fourth-quarter revenue fell short of expectations.

Several other companies, including Cirrus Logic, Inc. (NASDAQ:CRUS), L3Harris Technologies, Inc. (NYSE:LHX) and Otis Worldwide Corporation (NYSE:OTIS), also came into the limelight after posting their quarterly results.

Photo by Joshua Mayo on Unsplash

Let’s review the performance of these companies.

Quarterly Reports You Don’t Want to Miss

10. Kilroy Realty Corporation (NYSE:KRC)

Number of Hedge Fund Holders: 24

Shares of Kilroy Realty Corporation (NYSE:KRC) rose four percent in the after-hours trading session on Monday, January 31, 2022, after announcing better-than-expected financial results for the fourth quarter.

Kilroy Realty Corporation (NYSE:KRC) earned 40 cents per share on revenue of $261.1 million. The results easily surpassed analysts’ average estimate of 30 cents per share for earnings and $246.78 million for revenue.

The California-based real estate investment trust also released its earnings outlook for 2022. Kilroy Realty Corporation (NYSE:KRC) expects earnings in the range of $1.76 – $1.96 per share for the full year.

9. Cirrus Logic, Inc. (NASDAQ:CRUS)

Number of Hedge Fund Holders: 24

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) turned red in the after-hours trading session on Monday, January 31, 2022, despite beating expectations for its fiscal third quarter. The fabless semiconductor supplier reported adjusted earnings of $2.54 per share, up from $2.13 per share in the year-ago quarter.

Revenue came in at $548.3 million, representing a substantial jump from $294 million for the comparable period of 2020. Analysts were expecting Cirrus Logic, Inc. (NASDAQ:CRUS) to post earnings of $2.14 per share on revenue of $510 million.

Cirrus Logic, Inc. (NASDAQ:CRUS) also issued the sales outlook for its FY 2022. It expects revenue in the range of $400 million – $440 million. In addition, gross margin for the full year is expected to come between 51 – 53 percent.

Speaking on the results, CEO John Forsyth said in a statement:

“Cirrus Logic reported record revenue in the December quarter, above the top end of our guidance, driven by significant contributions from the expanded high-performance mixed-signal content shipping into smartphones and strong overall demand for our products.”

Like Cirrus Logic, Inc. (NASDAQ:CRUS), investors are also closely watching Exxon Mobil Corporation (NYSE:XOM), United Parcel Service, Inc. (NYSE:UPS) and Stanley Black & Decker, Inc. (NYSE:SWK), following their earnings reports.

8. Woodward, Inc. (NASDAQ:WWD)

Number of Hedge Fund Holders: 25

Shares of Woodward, Inc. (NASDAQ:WWD) fell over five percent in the after-hours trading session on Monday, January 31, 2022, after announcing disappointing financial results for its fiscal first quarter.

Woodward, Inc. (NASDAQ:WWD) earned 56 cents per share on an adjusted basis, missing expectations of 81 cents per share. The quarterly revenue of $591.08 million also fell short of analysts’ average estimate of $538 million.

If we look at the performance of flagship business units of Woodward, Inc. (NASDAQ:WWD), aerospace revenue rose five percent to $336 million. In comparison, industrial revenue fell five percent to $205 million in the quarter.

Looking forward, Woodward, Inc. (NASDAQ:WWD) expects adjusted earnings in the range of $3.55 – $3.95 per share and revenue between $2.45 – $2.65 billion for its fiscal year 2022.

7. Atkore Inc. (NYSE:ATKR)

Number of Hedge Fund Holders: 26

Shares of Atkore Inc. (NYSE:ATKR) jumped nearly 12 percent on Monday, January 31, 2022, after delivering solid profit and sales for its fiscal first quarter. The supplier of metal products and electrical raceway solutions reported adjusted earnings of $4.58 per share, well above $1.88 per share in the year-ago quarter.

In addition, revenue for the quarter climbed 64.5 percent on a year-over-year basis to $329.7 million. Analysts were expecting Atkore Inc. (NYSE:ATKR) to post earnings of $3.56 per share on revenue of $768.52 million.

Revenue from the electrical segment soared 65.7 percent to $641.7 million, primarily driven by a rise in the average selling prices. In comparison, safety & infrastructure revenue jumped 60.7 percent versus last year to $75.7 million.

Atkore Inc. (NYSE:ATKR) also issued the financial outlook for its fiscal year 2022. It expects adjusted earnings in the range of $12.80 – $13.60 per share and revenue growth in the mid-single digit percentage for the full year.

Like Atkore Inc. (NYSE:ATKR), Exxon Mobil Corporation (NYSE:XOM), United Parcel Service, Inc. (NYSE:UPS) and Stanley Black & Decker, Inc. (NYSE:SWK), also came into the spotlight after releasing their financial results.

6. L3Harris Technologies, Inc. (NYSE:LHX)

Number of Hedge Fund Holders: 29

L3Harris Technologies, Inc. (NYSE:LHX) recently announced a better-than-expected profit for the fourth quarter. However, its sales fell short of expectations, sending its shares down more than four percent on Monday, January 31, 2022.

The Florida-based tech company earned $3.30 per share, up 5 percent versus last year and above the consensus estimate of $3.26 per share. In addition, L3Harris Technologies, Inc. (NYSE:LHX) posted revenue of $4.35 billion, down seven percent on a year-over-year basis and below analysts’ average estimate of $4.49 billion.

Looking at the performance of different business units, revenue from the integrated mission systems segment increased six percent to $1.56 billion, while revenue from the space and airborne systems segment inched up two percent to $1.29 billion in the quarter. On the downside, aviation systems revenue plummeted 37 percent to $535 million and communication systems revenue fell 11 percent to $1.02 billion.

L3Harris Technologies, Inc. (NYSE:LHX) also released its financial outlook for 2022. The company expects adjusted earnings in the range of $13.35 – $13.65 per share and revenue between $17.3 – $17.7 billion.

Discussing the results, CEO Christopher Kubasik said:

“The L3Harris team delivered solid EPS growth, consistent with expectations, despite supply chain headwinds and budget uncertainty. In 2022, we look forward to taking the next step as the industry’s trusted disruptor to deliver innovative and affordable solutions, and with a focus on creating value over the long term.”

5. Graco Inc. (NYSE:GGG)

Number of Hedge Fund Holders: 32

Shares of Graco Inc. (NYSE:GGG) rose over two percent in the after-hours trading session on Monday, January 31, 2022, after announcing its fourth-quarter profit and sales above expectations.

Graco Inc. (NYSE:GGG) reported adjusted earnings of 66 cents per share, compared to 61 cents per share in the year-ago quarter. Revenue for the quarter jumped 15 percent on a year-over-year basis to $539.6 million. The results easily exceeded the consensus forecast of 63 cents per share for earnings and $518.94 million for revenue.

Looking forward, Graco Inc. (NYSE:GGG) expects high single-digit sales growth for 2022, with positive expectations across all regions and reportable business segments.

CEO Mark Sheahan expressed his satisfaction with the latest performance, saying:

“Robust order rates continued in the fourth quarter and we ended the year with record backlog in all three segments. While we still face supply chain, logistical and inflationary challenges, we are managing these headwinds and Graco is positioned well entering the new year.”

4. Stanley Black & Decker, Inc. (NYSE:SWK)

Number of Hedge Fund Holders: 37

Shares of Stanley Black & Decker, Inc. (NYSE:SWK) turned red in the pre-market trading session on Tuesday, February 1, 2022, after announcing mixed financial results for the fourth quarter.

Stanley Black & Decker, Inc. (NYSE:SWK) earned $2.14 per share on an adjusted basis, beating expectations of $2.05 per share. However, the quarterly revenue of $4.1 billion missed analysts’ average estimate of $4.49 billion.

Revenue from the tools & storage segment rose 3.5 percent on a year-over-year basis to $3.37 billion, while revenue from the industrial segment fell 7.3 percent versus last year to $609.7 million.

Stanley Black & Decker, Inc. (NYSE:SWK) also issued its profit outlook for 2022. The manufacturer of industrial tools and household hardware expects adjusted earnings in the range of $12 – $12.5 per share, compared to expectations of $11.94 per share.

Speaking on the results, CEO Donald Allan Jr. said in a statement:

“We exit the year having implemented price increases to mitigate inflationary impacts while improving efficiencies  and investing in expanded capacity to support the continued growth we project in 2022 and beyond.”

3. United Parcel Service, Inc. (NYSE:UPS)

Number of Hedge Fund Holders: 42

Shares of United Parcel Service, Inc. (NYSE:UPS) jumped to an all-time high in the pre-market trading session on Tuesday, February 1, 2022, after announcing solid profit and sales for the fourth quarter, as the company benefitted from higher shipping fees and elevated e-commerce demand.

United Parcel Service, Inc. (NYSE:UPS) reported adjusted earnings of $3.59 per share, significantly higher than $2.66 per share in the year-ago quarter. Revenue came in at $27.8 billion, up 11.5 percent on a year-over-year basis. The results crushed analysts’ average estimate of $3.10 per share for earnings and $27.06 billion for revenue.

Looking at the performance of different segments of UPS, domestic package revenue for the quarter jumped 12.4 percent to $17.70 billion, while international package revenue advanced 13.1 percent to $5.40 billion. In comparison, supply chain & freight revenue surged 6.7 percent to $4.68 billion in the quarter.

The Georgia-based shipping & logistics giant also issued its financial outlook for 2022. United Parcel Service, Inc. (NYSE:UPS) expects revenue of around $102 billion and adjusted operating margins of about 13.7 percent for the current fiscal year.

2. Otis Worldwide Corporation (NYSE:OTIS)

Number of Hedge Fund Holders: 46

Shares of Otis Worldwide Corporation (NYSE:OTIS) closed higher on Monday, January 31, 2022, after beating earnings expectations for the fourth quarter. The manufacturer of elevators, escalators and moving walkways reported adjusted earnings of 72 cents per share, up 9.1 percent versus last year and above expectations of 68 cents per share.

Revenue came in at $3.57 billion versus $3.49 billion for the comparable period of 2020. Analysts were expecting Otis Worldwide Corporation (NYSE:OTIS) to generate revenue of $3.58 billion.

The company also issued its financial outlook for 2022. Otis Worldwide Corporation (NYSE:OTIS) expects adjusted earnings in the range of $3.20 – $3.30 per share and revenue between $14.4 – $14.7 billion for the full year.

Discussing the results, CEO Judy Marks said in a statement:

“Despite ongoing macro challenges in 2021, we achieved consistent and broad-based organic sales growth and margin expansion, grew our maintenance portfolio at the highest rate in over 10 years and gained share in New Equipment for the second consecutive year.”

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 64

Shares of Exxon Mobil Corporation (NYSE:XOM) climbed to a nearly three-year high in the early trading session on Tuesday, February 1, 2022, after delivering an impressive profit for the fourth quarter.

Exxon Mobil Corporation (NYSE:XOM) reported adjusted earnings of $2.05 per share, helped by a strong rebound in oil and gas prices. Analysts were looking for earnings of $1.93 per share. Revenue for the quarter came in at $84.97 billion, compared to analysts’ average estimate of $84.97 billion.

In addition, Exxon Mobil Corporation (NYSE:XOM) generated a cash flow of $48 billion from operating activities. Among other important updates, the oil and gas giant announced that it paid $9 billion in debt in the fourth quarter. Overall, the company paid down $20 billion in debt during the last year.

Speaking on the results, CEO Darren Woods said in a statement:

“Our effective pandemic response, focused investments during the down-cycle, and structural cost savings positioned us to realize the full benefits of the market recovery in 2021. Our new streamlined business structure is another example of the actions we are taking to further strengthen our competitive advantages and grow shareholder value.  We’ve made great progress in 2021 and our forward plans position us to lead in cash flow and earnings growth, operating performance, and the energy transition.”

You can also take a peek at Early Retirement Portfolio: 15 Stocks to Live Off Dividends and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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Disclosure: None. 10 Quarterly Reports You Don’t Want to Miss is originally published on Insider Monkey.