In this article, we will take a look at 11 companies in the limelight after releasing their financial results.
Healthcare giant Walgreens Boots Alliance, Inc. (NASDAQ:WBA), software company UiPath Inc. (NYSE:PATH) and clothing retailer PVH Corp. (NYSE:PVH) were among the notable companies that recently released their quarterly earnings reports.
UiPath stock fell to an all-time low after issuing a weak sales outlook along with its Q4 results. On the other hand, shares of Walgreens Boots and PVH also turned red despite beating profit and sales expectations for their latest quarters.
Many other companies, including nCino, Inc. (NASDAQ:NCNO) and Duck Creek Technologies, Inc. (NASDAQ:DCT), were also seen making big moves after releasing their quarterly reports.
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Now let’s review the important financial highlights from these companies.
Companies in The Limelight After Releasing Their Financial Results
11. Core & Main, Inc. (NYSE:CNM)
Number of Hedge Fund Holders: 13
Core & Main, Inc. recently announced better-than-expected financial results for its fiscal fourth quarter. The Missouri-based company reported earnings of $0.28 per share, beating expectations of $0.22.
In addition, Core & Main, Inc. posted revenue of $1.25 billion, up 50% versus the comparable period of 2020 and ahead of the consensus of $1.13 billion.
Looking forward, Core & Main, Inc. expects its sales to increase somewhere in the high single to low double-digit range for its fiscal 2022. The company expects strong growth in the first half of the year, with growth slowing down in the second half due to difficult year-over-year comps.
Speaking on the results, CEO Steve LeClair said in a statement:
“Net sales grew 37% in fiscal 2021 driven by strong demand across each of our end markets, higher average selling prices as we passed along rising materials costs, solid performance across our sales initiatives to deliver market share gains and acquisitions.”
10. Sharecare, Inc. (NASDAQ:SHCR)
Number of Hedge Fund Holders: 16
Shares of Sharecare, Inc. (NASDAQ:SHCR) plunged to an all-time low on Thursday after the company posted mixed financial results for the fourth quarter. The digital health company reported a loss of $0.01 per share, unchanged from the same period of 2020.
Revenue for the quarter rose 34% on a year-over-year basis to $118.5 million. Analysts were expecting Sharecare, Inc. to post a loss of $0.03 per share on revenue of $121.05 million.
Sharecare, Inc. also released its sales outlook for the first quarter and full year 2022. It expects revenue in the range of $95 – $98 million for the current quarter and between $470 – $500 million for fiscal 2022.
Like Sharecare, Inc., Walgreens Boots Alliance, Inc., UiPath Inc. and PVH Corp. also caught investors’ attention following their earnings reports.
9. Blend Labs, Inc. (NYSE:BLND)
Number of Hedge Fund Holders: 16
Shares of Blend Labs, Inc. (NYSE:BLND) plummeted over 15% in the after-hours trading session on Thursday after the company missed financial expectations for the fourth quarter. The digital lending platform reported a loss of $0.32 per share, wider than the loss of $0.19 per share estimated by analysts.
Revenue came in at $81 million, below the consensus of $82.92 million. Blend Labs, Inc. also issued its segment-wise sales performance. Revenue from the Blend Platform segment rose 19% to $36.5 million, while Consumer Banking and Marketplace revenue climbed 46% to $6.3 million in the quarter. In comparison, Mortgage Banking revenue rose 14% to $29.1 million.
Looking forward, Blend Labs, Inc. guided for revenue in the range of $63 – $66 million for the first quarter and between $230 – $250 million for the full year.
8. Duck Creek Technologies, Inc. (NASDAQ:DCT)
Number of Hedge Fund Holders: 17
Duck Creek Technologies, Inc. recently posted its fiscal second-quarter profit and sales results, which came in above expectations. The Massachusetts-based company earned $0.04 per share on an adjusted basis, compared to $0.01 per share in the year-ago period.
In addition, Duck Creek Technologies, Inc. posted revenue of $76.4 million, up 22% on a year-over-year basis. The results topped the consensus estimates of $0.01 per share for earnings and $72.75 million for revenue.
If we look at the performance of its key businesses, subscription revenue jumped 29% to $39.6 million, professional services revenue rose 15% to $26 million, and license revenue climbed 30% to $4.6 million in the quarter. In comparison, maintenance and support revenue increased 5% to $6.2 million.
On the downside, Duck Creek Technologies, Inc. issued a weak sales outlook for its fiscal third quarter. The company expects to generate revenue in the range of $71 -$73 million, below analysts’ average estimate of $75.93 million. The fragile sales guidance sent Duck Creek shares down more than 12% in the after-hours trading session on Thursday.
Discussing the results, CEO Michael Jackowski said in a statement:
“Duck Creek’s second quarter results reflected continued adoption of Duck Creek OnDemand by customers across all tiers. New and existing customer interest on moving their critical core systems to the cloud remains very strong and is viewed as essential to their success.”
7. nCino, Inc. (NASDAQ:NCNO)
Number of Hedge Fund Holders: 21
Shares of nCino, Inc. rose nearly 4% in the after-hours trading session on Thursday, following the release of the company’s fiscal-fourth quarter results. The Wilmington-based financial technology company reported an adjusted loss of $0.09 per share, in line with the consensus forecast.
Revenue for the quarter jumped 32% on a year-over-year basis to $75 million, topping analysts’ average estimate of $69.31 million. Subscription revenue increased 40% to $62.8 million and represented about 83% of the total quarterly sales.
For the current quarter, nCino, Inc. expects an adjusted loss in the range of $0.07 – $0.08 per share and revenue between $91 – $92 million. For its fiscal 2023, it guided for an adjusted loss in the range of $0.31 to $0.32 per share and revenue between $398 – $400 million.
Like nCino, Inc., Walgreens Boots Alliance, Inc., UiPath Inc. and PVH Corp. also came into the spotlight after posting their financial results, which we’ll discuss in the second half of this article (click the link below).
6. MSC Industrial Direct Co., Inc. (NYSE:MSM)
Number of Hedge Fund Holders: 26
MSC Industrial Direct Co., Inc. (NYSE:MSM) is one of the leading suppliers of industrial equipment in the U.S. It primarily supplies maintenance and repair products across the country. The New York-based company recently announced upbeat financial results for its fiscal second quarter.
MSC Industrial Direct Co., Inc. reported adjusted earnings of $1.29 per share for the three months ended February 26, 2022, up from $1.03 per share in the same period last year.
Revenue came in at $862.5 million, representing a surge of 11.4% over the year-ago period. Analysts were expecting MSC Industrial Direct Co., Inc. to post earnings of $1.22 per share on revenue of $855.96 million. Gross margin also improved to 42.5%, up from 38.1% last year.
Commenting on the results, CEO Erik Gershwind said:
“We achieved double-digit top-line growth despite Covid-related disruptions during the first two weeks of January. Our growth initiatives are in high gear and the productivity improvements we deliver to our customers are resonating.”
5. UiPath Inc. (NYSE:PATH)
Number of Hedge Fund Holders: 28
Shares of UiPath Inc. recently fell to an all-time low after the company issued a weak sales outlook along with its Q4 results. The software company expects to generate revenue in the range of $223 – $225 million for the current quarter, below analysts’ average estimate of $243 million.
The weak guidance overshadowed UiPath’s better-than-expected results for its fiscal fourth quarter. UiPath Inc. reported adjusted earnings of $0.05 per share on revenue of $289.7 million. The results exceeded the consensus estimates of $0.03 per share for earnings and $283.57 million for revenue.
Speaking on the results, CEO of UiPath Inc., Daniel Dines, said:
“The UiPath team delivered a strong finish to fiscal year 2022 with fourth quarter net new ARR reaching a record $107 million, an increase of 72 percent year-over-year. We believe this is a testament to our highly differentiated end-to-end platform.”
4. Five Below, Inc. (NASDAQ:FIVE)
Number of Hedge Fund Holders: 35
Shares of Five Below, Inc. (NASDAQ:FIVE) fell over 6% on Wednesday after the company posted mixed financial results for its fiscal fourth quarter. The specialty discount retailer earned $2.49 per share, compared to $2.20 per share in the year-ago period.
Revenue came in at $996.3 million, representing a surge of 16.1% on a year-over-year basis. Analysts were expecting Five Below, Inc. to report earnings of $2.48 per share on revenue of $1.01 billion.
Among other updates, Five Below, Inc. announced that it opened 17 new stores during the quarter, bringing the total count to 1,190. In addition, the company reported that it repurchased $60 million worth of its common stock during the same period.
Five Below, Inc. also released its financial outlook for the current quarter. The company guided for earnings between $0.54 and $0.62 per share and revenue in the range of $644 – $658 million for its fiscal first quarter.
3. Paychex, Inc. (NASDAQ:PAYX)
Number of Hedge Fund Holders: 35
Shares of Paychex, Inc. (NASDAQ:PAYX) recently hit a new 52-week high of $140.67 following the company’s upbeat financial performance for its fiscal third quarter. The HR and payroll services provider reported adjusted earnings of $1.15 per share, topping estimates of $1.05 per share.
Revenue for the quarter jumped 15% year-over-year to $1.28 billion, ahead of the consensus of $1.22 billion. Paychex, Inc. also released its segment-wise sales performance. Its management solutions revenue jumped 13% to $959.9 million, while PEO and insurance solutions’ revenue climbed 21% to $301.7 million in the quarter.
Looking forward, Paychex, Inc. revised its profit outlook for the full year. The company now expects its fiscal 2022 adjusted earnings to grow in the range of 22.5 – 23% versus its previous growth outlook of 18 – 20%.
Commenting on the results, CEO Martin Mucci said in a statement:
“While the impacts of COVID-19 are abating, businesses are still operating in a very complex and volatile environment. Focus is shifting from operational and financial survival during the height of the pandemic back to an employee-centric focus, with attracting and retaining talent, remote work, and workplace safety being top areas of concern.”
2. PVH Corp. (NYSE:PVH)
Number of Hedge Fund Holders: 38
Shares of PVH Corp. fell for two consecutive trading sessions after the release of the clothing retailer’s fiscal fourth-quarter results on Tuesday. The clothing company earned $2.84 per share, compared to a loss of $0.38 per share in the year-ago period.
In addition, PVH Corp. posted revenue of $2.43 billion, up from $2.09 billion in the linked period of 2020. The results were better than analysts’ average estimate of $2.00 per share for earnings and $2.38 billion for revenue.
Moving forward, PVH Corp. expects its fiscal first-quarter revenue to be relatively flat versus the comparable period of 2021. For fiscal 2022, the company projected revenue growth of 2 – 3% on a year-over-year basis.
Speaking on the results, CEO Stefan Larsson said:
“As we look ahead, we are confident in the strength and momentum in our business and our ability to drive strong underlying top and bottom line growth by leaning in to what is within our control, despite the significantly increased macroeconomic and geopolitical volatility over the last few months, including the war in Ukraine, the impact of the global pandemic, and the inflationary pressures we see across our regions.”
1. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)
Number of Hedge Fund Holders: 42
Share of Walgreens Boots Alliance, Inc. plunged to a nearly 15-month low in the early trading session on Friday despite the company beating profit and sales expectations for its fiscal second quarter.
Walgreens Boots Alliance, Inc. reported adjusted earnings of $1.59 per share, compared to $1.26 per share in the same period last year. Analysts were looking for earnings of $1.38 per share.
Revenue for the quarter increased 3% on a year-over-year basis to $33.8 billion, topping expectations of $33.36 billion. Walgreens Boots Alliance, Inc. also released its region-wise sales performance. Revenue from the U.S inched up 1.2% to $27.7 billion, while international revenue rose 2.6% to $5.6 billion in the quarter.
Among other updates, Walgreens Boots Alliance, Inc. reported that it administered 11.8 million coronavirus vaccines in the second quarter, well below the 15.6 million figure from the prior quarter.
Discussing the latest financial results, CEO Rosalind Brewer said:
“We continue to make important strides along our strategic priorities, building a consumer-centric, technology-enabled healthcare enterprise at the center of local communities. VillageMD and Shields are delivering tremendous pro forma sales growth compared to their year-ago standalone results, and our Walgreens Health segment is on track toward long-term targets.”
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This article is originally published at Insider Monkey.
