11 Companies in Focus After Posting Their Financial Results

In this article, we will take a look at the 11 companies in focus after posting their financial results.

Notable stocks from the consumer defensive sector, including Constellation Brands, Inc. (NYSE:STZ), Conagra Brands, Inc. (NYSE:CAG) and Lamb Weston Holdings, Inc. (NYSE:LW), released earnings reports for their respective quarters earlier this week.

If we look at their price actions, shares of Lamb Weston and Constellation Brands closed higher following their upbeat quarterly performance. On the other hand, Conagra Brands shares didn’t move much despite meeting expectations for its fiscal third quarter.

Several other companies, including tech firm Array Technologies, Inc. (NASDAQ:ARRY) and famous clothing retailer Levi Strauss & Co. (NYSE:LEVI), also came into the limelight after publishing their quarterly reports.

Now let’s review the results from these stocks in detail.

Companies in Focus After Posting Their Financial Results

11. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

Number of Hedge Fund Holders: 13

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) recently announced its fiscal second-quarter profit that matched the consensus forecast. The results were mainly driven by higher sales volumes for ferrous and nonferrous metals and a surge in average selling prices.

The company reported adjusted earnings of $1.38 per share and revenue of $783.2 million for the three months ended February 28, 2022. Analysts were expecting Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) to earn $1.38 per share on revenue of $779.39 million.

Among other updates, Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) reported that ferrous sales volume increased 10 percent, while nonferrous sales volume rose 8 percent in the quarter. On the downside, the sales volume of finished steel fell 22 percent on a year-over-year basis, primarily due to supply chain hurdles.

Speaking on the results, CEO Tamara Lundgren said in a statement:

“Global demand for our products and services remains very high, our outlook is strong, and our team is committed to supporting all our stakeholders safely and responsibly as we navigate through these challenging times and advance our strategic priorities.”

10. Sprinklr, Inc. (NYSE:CXM)

Number of Hedge Fund Holders: 13

Shares of Sprinklr, Inc. (NYSE:CXM) climbed to a nearly three-month high on Thursday, April 7, 2022, following an upbeat financial performance for its fiscal fourth quarter. The New York-based software company reported an adjusted loss of 5 cents per share, compared to breakeven earnings in the year-ago period.

In addition, Sprinklr, Inc. (NYSE:CXM) posted revenue of $135.7 million, up 30 percent on a year-over-year basis. The results were better than the consensus estimate for a loss of 9 cents per share and revenue of $130.38 million.

For the current quarter, Sprinklr, Inc. (NYSE:CXM) expects an adjusted loss in the range of 6 – 7 cents per share and revenue between $140 – $142 million. For its fiscal 2023, it projected an adjusted loss of 20 – 22 cents per share on revenue of $607 million and $615 million.

Like Sprinklr, Inc. (NYSE:CXM), investors are also closely monitoring Constellation Brands, Inc. (NYSE:STZ), Conagra Brands, Inc. (NYSE:CAG) and Lamb Weston Holdings, Inc. (NYSE:LW), following their earnings reports.

9. The Simply Good Foods Company (NASDAQ:SMPL)

Number of Hedge Fund Holders: 14

Shares of The Simply Good Foods Company (NASDAQ:SMPL) are approaching their 52-week high after the company reported solid earnings and revenue for its fiscal second quarter. The nutritional foods and snacks seller earned 36 cents per share on an adjusted basis, up from 25 cents per share in the year-ago period.

Revenue for the quarter jumped nearly 29 percent on a year-over-year basis to $296.7 million. Analysts were expecting The Simply Good Foods Company (NASDAQ:SMPL) to report earnings of 27 cents per share on revenue of $274.9 million.

The Simply Good Foods Company (NASDAQ:SMPL) also raised the sales outlook for its fiscal 2022. It is now guiding for sales growth in the range of 13 – 15 percent versus its previous guidance between 12 – 14 percent.

Discussing the results, CEO Joseph Scalzo said in a statement:

“We anticipate supply chain costs, mostly due to ingredients, will remain at elevated levels into fiscal 2023 and notified customers of our plans to institute a price increase effective late in the fiscal fourth quarter of 2022 to help offset these cost increases.”

8. RPM International Inc. (NYSE:RPM)

Number of Hedge Fund Holders: 16

Shares of RPM International Inc. (NYSE:RPM) increased nearly five percent on Wednesday, April 6, 2022, after announcing its fiscal third-quarter profit and sales above the consensus estimate.

RPM International Inc. (NYSE:RPM) reported adjusted earnings of 38 cents per share, topping expectations of 30 cents per share. Revenue surged 13 percent on a year-over-year basis to $1.43 billion and exceeded estimates of $1.41 billion.

In addition, RPM International Inc. (NYSE:RPM) also released its segment-wise sales performance. Its Construction Products Group revenue jumped 21.7 percent to $482 million, Performance Coatings Group revenue increased 19.6 percent to $270.9 million, and Specialty Products Group revenue rose 11.9 percent to $169.2 million in the quarter. In comparison, consumer group revenue inched up 2.9 percent to $477.7 million.

7. SMART Global Holdings, Inc. (NASDAQ:SGH)

Number of Hedge Fund Holders: 18

SMART Global Holdings, Inc. (NASDAQ:SGH) recently announced better-than-expected financial results for its fiscal second-quarter along with an upbeat outlook. The specialty memory solutions provider earned 87 per share on an adjusted basis, representing a big surge of 98 percent from the comparable period of 2021.

In addition, SMART Global Holdings, Inc. (NASDAQ:SGH) posted revenue of $449 million, representing a jump of 48 percent on a year-over-year basis. The results easily surpassed analysts’ average estimate of 72 cents per share for earnings and $435.41 million for revenue.

Looking forward, SMART Global Holdings, Inc. (NASDAQ:SGH) expects adjusted earnings in the range of 67 – 83 cents per share for its fiscal third quarter, above the consensus of 71 cents per share. Revenue for the same period is expected to come between $435 – $475 million versus expectations of $454.87 million.

Like SMART Global Holdings, Inc. (NASDAQ:SGH), investors are also keeping an eye on Constellation Brands, Inc. (NYSE:STZ), Conagra Brands, Inc. (NYSE:CAG) and Lamb Weston Holdings, Inc. (NYSE:LW), after their financial results.

6. Lindsay Corporation (NYSE:LNN)

Number of Hedge Fund Holders: 18

Shares of Lindsay Corporation (NYSE:LNN) slipped nearly two percent on Tuesday, April 5, 2022, despite beating expectations for its fiscal second quarter. The irrigation and infrastructure equipment provider reported earnings of $1.32 per share, up from $1.08 per share in the comparable period of 2021. Analysts were looking for earnings of $1.19 per share.

Revenue jumped 39 percent versus the year-ago quarter to $200.1 million, topping estimates of $187.1 million. If we look at the performance of flagship segments of Lindsay Corporation (NYSE:LNN), irrigation revenue climbed 52 percent to $180.7 million in the quarter. In comparison, revenue from the infrastructure segment rose 23 percent to $19.4 million.

Speaking on the results, CEO Randy Wood said:

“Global agricultural market conditions continue to be favorable and have contributed to an increase in demand for our irrigation equipment. At the same time, the effects of the global pandemic continue to impact our business and create operational challenges. During the quarter we experienced a short-term disruption in labor availability in our Nebraska manufacturing facility due to an increase in employee absences caused by the Omicron variant.”

5. Array Technologies, Inc. (NASDAQ:ARRY)

Number of Hedge Fund Holders: 25

Shares of Array Technologies, Inc. (NASDAQ:ARRY) fell over 11 percent on Tuesday, April 5, 2022, after posting a wider-than-expected loss for the fourth quarter. The solar tracker solutions provider reported an adjusted loss of 6 cents per share, compared to adjusted earnings of 8 cents per share in the fourth quarter of 2020.

Revenue for the quarter rose 22 percent on a year-over-year basis to $219.9 million. Analysts were expecting Array Technologies, Inc. (NASDAQ:ARRY) to report a loss of 3 cents per share on revenue of $213.82 million.

Among other updates, Array Technologies, Inc. (NASDAQ:ARRY) reported that its gross margin for the quarter fell to 4.7 percent, well below 19.6 percent in the year-ago period. The company blamed higher raw material and shipping costs for the drop.

Looking forward, Array Technologies, Inc. (NASDAQ:ARRY) expects adjusted earnings in the range of 55 – 74 cents per share and revenue between $1.45 – $1.75 billion for the current fiscal year.

Commenting on the quarter, CEO Jim Fusaro said:

“Despite a challenging 2021 it is important to re-iterate that the foundation of Array’s growth remains stronger than ever.  This is most evident by the fact that we enter 2022 with $1.8 billion in executed contracts and awarded orders.”

4. Conagra Brands, Inc. (NYSE:CAG)

Number of Hedge Fund Holders: 25

Conagra Brands, Inc. (NYSE:CAG) recently came into the spotlight after announcing its fiscal third-quarter results. The Chicago-based processed and packaged food retailer earned 58 cents per share, matching the consensus estimate.

In addition, Conagra Brands, Inc. (NYSE:CAG) generated revenue of $2.91 billion, up 5.1 percent versus last year and above expectations of $2.84 billion. If we look at its segment-wise sales performance, revenue from the grocery & snacks segment increased 6.2 percent to $1.2 billion, while the refrigerated & frozen segment’s revenue inched up 2.9 percent to $1.2 billion in the quarter. In comparison, its Foodservice segment’s revenue jumped 18.9 percent to $235 million.

On the downside, Conagra Brands, Inc. (NYSE:CAG) lowered the profit outlook for its fiscal 2022. The company now expects adjusted earnings of about $2.35 per share, compared to its earlier guidance of around $2.50 per share.

Discussing the results, CEO Sean Connolly said:

“We experienced higher-than-expected cost pressures as the third quarter progressed and expect those pressures to continue into the fourth quarter, particularly in certain frozen, refrigerated, and snacks businesses. In response, we have taken steps to implement additional inflation-driven pricing actions. We will begin to see the benefits of these actions in the first quarter of fiscal 2023.”

3. Levi Strauss & Co. (NYSE:LEVI)

Number of Hedge Fund Holders: 26

Shares of Levi Strauss & Co. (NYSE:LEVI) marginally moved down on Thursday, April 7, 2022, despite announcing better-than-expected financial results for its fiscal first quarter. The company attributed the latest performance to higher t-shirts and jeans sales and improved pricing. However, the suspension of business operations in Russia marginally impacted its quarterly sales.

Levi Strauss & Co. (NYSE:LEVI) earned 46 cents per share on an adjusted basis, up from 32 cents per share in the comparable period of 2021. Analysts were looking for earnings of 42 cents per share. Revenue for the quarter advanced 22 percent on a year-over-year basis to $1.59 billion and exceeded analysts’ average estimate of $1.55 billion.

Levi Strauss & Co. (NYSE:LEVI) also reiterated the financial outlook for its fiscal 2022. It continues to expect adjusted earnings in the range of $1.50 – $1.56 per share and revenue growth between 11 – 13 percent for the full year.

Commenting on the guidance, CFO Harmit Singh said:

“The ongoing consumer demand across our portfolio of brands and our proven ability to deliver profitable growth give us the confidence to reaffirm our full-year outlook despite the incremental headwinds from ongoing macro challenges.”

2. Lamb Weston Holdings, Inc. (NYSE:LW)

Number of Hedge Fund Holders: 38

Shares of Lamb Weston Holdings, Inc. (NYSE:LW) rose nearly eight percent on Thursday, April 7, 2022, after posting its fiscal third-quarter profit above expectations. The food processing company reported adjusted earnings of 73 cents per share, beating the consensus of 44 cents per share with a big margin.

However, the quarterly revenue of $955 million fell short of analysts’ average estimate of $968.52 million. Lamb Weston Holdings, Inc. (NYSE:LW) also issued its segment-wise sales performance. Revenue from its global segment inched up 2 percent to $487.9 million, while revenue from the Foodservice business climbed 34 percent to $294.5 million in the quarter. On the downside, revenue from the retail segment fell 12 percent to $143.6 million.

Looking forward, Lamb Weston Holdings, Inc. (NYSE:LW) expects its fiscal 2022 sales to exceed its long-term goal of low-to-mid single digits. In addition, the company lifted its fiscal 2022 gross margin outlook to a range of 19 – 20 percent, compared to its previous guidance of 18 – 20 percent.

1. Constellation Brands, Inc. (NYSE:STZ)

Number of Hedge Fund Holders: 48

Shares of Constellation Brands, Inc. (NYSE:STZ) rose nearly five percent on Thursday, April 7, 2022, after delivering impressive financial results for its fiscal fourth quarter. The beer and wine retailer reported adjusted earnings of $2.37 per share, up from $1.82 per share in the year-ago period. Analysts were looking for earnings of $2.09 per share.

In addition, Constellation Brands, Inc. (NYSE:STZ) posted revenue of $2.1 billion, up 8 percent on a year-over-year basis and higher than analysts’ average estimate of $2.02 billion. If we look at the performance of its flagship businesses, beer sales jumped 14 percent to $1.6 billion, while wine and spirits sales decreased 7 percent to $536.8 million in the quarter.

Speaking on the results, CEO of Constellation Brands, Inc. (NYSE:STZ), Bill Newlands, said:

“Driven by a relentless focus on building brands consumers love, our business continues to gain momentum. Despite various headwinds, we extended our leadership position in the high-end of the U.S. beer market, our high-end wine and spirits brands continue to outpace the industry complimented by successful innovation, we continue to invest aggressively in our core business, and we’ve set a strong foundation for future growth.”

You can also take a peek at 10 Blue Chip Stocks with Dividends and 10 Undervalued Dividend Kings To Buy In 2022.

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Disclosure: None. 11 Companies in Focus After Posting Their Financial Results is originally published on Insider Monkey.