In this article, we will take a look at the 11 companies in focus after posting their financial results. You can skip our detailed analysis of these companies and go directly to the 5 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.”
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Disclosure: None. 11 Companies in Focus After Posting Their Financial Results is originally published on Insider Monkey.
