In this article, we will take a look at the 11 stocks in focus after posting their earnings reports.
Consumer cyclical and consumer defensive companies, including NIO Inc. (NYSE:NIO), KB Home (NYSE:KBH) and General Mills, Inc. (NYSE:GIS), recently came out with their earnings reports.
NIO fell after issuing a weak sales outlook, while KB Home shares plummeted to a nearly 14-month low after failing to meet expectations for its fiscal first quarter. On the other hand, General Mills shares rose for two consecutive days following its upbeat quarterly profit.
Several other companies, including car wash chain Mister Car Wash, Inc. (NYSE:MCW) and restaurant operator Darden Restaurants, Inc. (NYSE:DRI), also caught investors’ attention after releasing financial results for their respective quarters.
Let’s take a look at some of the stocks trending recently after their quarterly reports.
Stocks in Focus After Posting Their Earnings Reports
11. Hyzon Motors Inc. (NASDAQ:HYZN)
Number of Hedge Fund Holders: 15
Shares of Hyzon Motors Inc. (NASDAQ:HYZN) jumped nearly 10 percent on Thursday, March 24, 2022, a day after announcing mixed financial results for the fourth quarter. The hydrogen-powered commercial vehicles maker reported a loss of 12 cents per share, in line with the expectations.
Revenue came in at $5.1 million, missing the consensus of $21.4 million with a big margin. Among other updates, Hyzon Motors Inc. reported that it delivered 87 vehicles in 2021.
Moving forward, Hyzon Motors Inc. expects to deliver 300 to 400 vehicles in the current fiscal year. However, the company added that most deliveries would be made in the second half of the year, mainly due to supply chain hurdles.
Speaking on the results, CEO Craig Knight said in a statement:
“In spite of widely recognized disruptions throughout the global supply chain, we delivered 87 fuel cell electric vehicles, with heavy and medium duty trucks now being validated in real world operations.”
10. Movado Group, Inc. (NYSE:MOV)
Number of Hedge Fund Holders: 15
Shares of Movado Group, Inc. (NYSE:MOV) rose over eight percent on Thursday, March 24, 2022, after delivering impressive profit and sales for its fiscal fourth quarter. The New Jersey-based watchmaker earned $1.32 per share on an adjusted basis, representing a big surge from 84 cents per share in the year-ago period.
In addition, Movado Group, Inc. posted revenue of $206 million, up 15.5 percent on a year-over-year basis. The results easily surpassed analysts’ average estimate of 80 cents per share for earnings and $191 million for revenue.
If we look at Movado’s region-wise sales performance, revenue from the U.S. jumped 18.5 percent, while international revenue rose 12.7 percent on a year-over-year basis. Looking forward, Movado Group, Inc. guided for revenue in the range of $780 – $800 million for its fiscal year 2023.
Like Movado Group, Inc., analysts are also closely observing NIO Inc., KB Home and General Mills, Inc. following their earnings reports.
9. Oxford Industries, Inc. (NYSE:OXM)
Number of Hedge Fund Holders: 17
Shares of Oxford Industries, Inc. (NYSE:OXM) recently jumped to a nearly two-month high after announcing better-than-expected financial results for its fiscal fourth quarter. The Georgia-based clothing company reported adjusted earnings of $1.68 per share, well above 13 cents per share in the comparable quarter of 2020.
Revenue came in at $300 million versus $221 million in the year-ago quarter. Analysts were expecting Oxford Industries, Inc. to earn $1.43 per share on revenue of $295 million.
Oxford Industries, Inc. also released the financial outlook for its fiscal year 2022. It expects earnings in the range of $8.75 – $9.15 per share and revenue between $1.245 – $1.285 billion.
8. SmartRent, Inc. (NYSE:SMRT)
Number of Hedge Fund Holders: 17
Shares of SmartRent, Inc. (NYSE:SMRT) fell over nine percent in the after-hours trading session on Thursday, March 24, 2022, after posting a wider-than-expected loss for the fourth quarter.
SmartRent, Inc. reported a loss of 13 cents per share, higher than analysts’ average estimate for a loss of 9 cents per share. On the bright side, revenue for the quarter skyrocketed 155 percent to $34.7 million, beating expectations of $31.4 million.
Looking forward, SmartRent, Inc. expects revenue in the range of $35 – $37 million for the first quarter and between $220 – $250 million for the full year.
7. Neogen Corporation (NASDAQ:NEOG)
Number of Hedge Fund Holders: 18
Shares of Neogen Corporation (NASDAQ:NEOG) recently hit a new 52-week low of $29.71 after announcing disappointing financial results for its fiscal third quarter. The Michigan-based food and animal safety company reported adjusted earnings of 13 cents per share, below the consensus of 15 cents per share.
In addition, the quarterly revenue of $128.2 million also missed analysts’ average estimate of $129.99 million. If we look at the sales performance of key segments of Neogen Corporation, revenue from the food safety segment rose 7 percent to $62.7 million in the quarter. In comparison, revenue from the animal safety segment jumped 12 percent to $65.5 million.
Like Neogen Corporation, KB Home, NIO Inc. and General Mills, Inc. also came into the spotlight after releasing their earnings reports.
6. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)
Number of Hedge Fund Holders: 23
Ollie’s Bargain Outlet Holdings, Inc. recently announced a better-than-expected profit for its fiscal fourth quarter. The discount retailer earned 69 cents per share on an adjusted basis, compared to 97 cents per share in the year-ago period and above the consensus of 66 cents.
On the downside, Ollie’s Bargain Outlet Holdings, Inc. posted revenue of $501.1 million, which came in below analysts’ average estimate of $513.13 million. Comparable store sales in the quarter fell 10.5 percent versus a surge of 8.8 percent in the same period of 2020.
For its fiscal first quarter, Ollie’s Bargain Outlet Holdings, Inc. guided for adjusted earnings in the range of 31 – 33 cents per share and revenue between $417 – $422 million.
Discussing the results, CEO John Swygert said in a statement:
“During the fourth quarter we exceeded our earnings expectations. We navigated numerous headwinds including unprecedented inflation in merchandise and transportation costs, shipping delays of imported product, and backlogs at our distribution centers. We accomplished this by controlling what we could by leveraging our vast network of vendor partners, improving efficiencies in our distribution centers, and keeping a tight control on expenses.”
5. Mister Car Wash, Inc. (NYSE:MCW)
Number of Hedge Fund Holders: 25
Shares of Mister Car Wash, Inc. slightly moved down after the opening bell on Friday, March 25, 2022, despite announcing better-than-expected profit and sales for the fourth quarter.
Mister Car Wash, Inc. reported adjusted earnings of 10 cents per share, up from 6 cents per share in the fourth quarter of 2020. Revenue jumped 18.2 percent on a year-over-year basis to $191.5 million.
The results exceeded the consensus of 8 cents per share for earnings and $188.68 for revenue. Among other updates, Mister Car Wash, Inc. reported that it opened 36 new car wash sites during the fourth quarter.
Looking forward, Mister Car Wash, Inc. expects adjusted earnings in the range of 44 – 47 cents per share and revenue between $875 – $895 million for the current fiscal year.
Discussing the results, CEO John Lai said:
“We are pleased with the way we closed 2021 and the strong start we are seeing in 2022. Demand for our services remains healthy as more motorists value the convenience of professional car washing and the ease of being an Unlimited Wash Club member.”
4. Darden Restaurants, Inc. (NYSE:DRI)
Number of Hedge Fund Holders: 30
Darden Restaurants, Inc. recently announced disappointing financial results for its fiscal third quarter. The Orlando-based restaurant operator earned $1.93 per share, compared to 98 cents per share in the same period last year.
Revenue for the quarter jumped 41.3 percent on a year-over-year basis to $2.45 billion. However, analysts were expecting Darden Restaurants, Inc. to post earnings of $2.10 per share on revenue of $2.51 billion.
Darden Restaurants, Inc. also cut the profit outlook for its fiscal 2022. The company is now looking for earnings in the range of $7.30 – $7.45 per share, compared to its previous forecast of $7.35 – $7.60 per share.
Commenting on the results, CEO Gene Lee said:
“This was a quarter of stark contrasts and I’m pleased with our performance in this highly volatile environment. It began with record sales in December. However, the Omicron variant significantly impacted guest demand, restaurant staffing and operating expenses in January.”
3. NIO Inc. (NYSE:NIO)
Number of Hedge Fund Holders: 30
Shares of NIO Inc. turned red after the opening bell on Friday, March 25, 2022, after issuing a weak sales outlook for the first quarter. The Chinese electric vehicle maker expects to generate revenue in the range of $1.511 – $1.567 billion for the current quarter.
The outlook represents a surge of 20.6 – 25.1 percent over the first quarter of 2021 but is below analysts’ average estimate of $1.66 billion.
The weak guidance overshadowed the better-than-expected quarterly results of NIO Inc.. The company reported an adjusted loss of 16 cents per share for the fourth quarter, narrower than analysts’ average estimate for a loss of 21 cents per share.
Revenue came in at $1.55 billion, up 49.1 percent versus last year and above the consensus of $1.53 billion. Among other updates, NIO Inc. reported that it expects to deliver 25,000 – 26,000 vehicles in the current quarter.
Speaking on the results, CFO Steven Wei Feng said:
“With steadily increasing deliveries, stable average selling price, and improving manufacturing efficiency, we have achieved solid financial performance for the fourth quarter and full year of 2021 with the vehicle margin reaching 20.1% in 2021. To provide better experience to our growing global user base and accelerate our market expansion, we will continue to make decisive investments in products, core technologies and services for the years ahead.”
2. KB Home (NYSE:KBH)
Number of Hedge Fund Holders: 36
Shares of KB Home recently plummeted to a nearly 14-month low after missing profit and sales expectations for its fiscal first quarter. The homebuilding company reported earnings of $1.47 per share, up from $1.02 per share in the same period last year.
In addition, KB Home posted revenue of $1.39 billion, representing a surge of 23 percent on a year-over-year basis. The results fell short of analysts’ average estimate of $1.56 per share for earnings and $1.50 billion for revenue.
KB Home also issued the sales outlook for its fiscal 2022. It expects to generate revenue in the range of $7.20 – $7.60 billion for the full year.
Discussing the results, CEO Jeffrey Mezger said:
“Market conditions are healthy, driven by a low supply of available inventory and favorable demographics, along with steady employment and wage growth. Against this backdrop, we produced a seasonally strong monthly absorption pace of 6.6 net orders per community, as demand for our personalized homes remained robust.”
1. General Mills, Inc. (NYSE:GIS)
Number of Hedge Fund Holders: 36
Shares of General Mills, Inc. rose for two straight days after announcing financial results for its fiscal third quarter on Wednesday, March 23, 2022. The Minnesota-based packaged food producer reported adjusted earnings of 84 cents per share, beating expectations of 78 cents per share.
Revenue came in at $4.538 billion, nearly unchanged from last year and slightly below the consensus of $4.56 billion. On the bright side, General Mills, Inc. raised the financial outlook for its fiscal 2022.
General Mills, Inc. now expects adjusted earnings per share in the range of flat to a 2 percent rise, compared to its previous forecast between a 2 percent drop and a 1 percent increase. In addition, the company now expects revenue growth of about 5 percent, compared to its previous growth outlook between 4 – 5 percent.
You can also take a peek at 10 Best Roth IRA Stocks To Buy in 2022 and 10 Undervalued Dividend Kings To Buy In 2022.
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This article is originally published at Insider Monkey.
