11 Companies Drawing Attention Following Earnings Reports

In this article, we will take a look at the 11 companies drawing attention following earnings reports.

Notable stocks from the technology and consumer cyclical sectors, including DocuSign, Inc. (NASDAQ:DOCU), Stitch Fix, Inc. (NASDAQ:SFIX) and Vail Resorts, Inc. (NYSE:MTN), were spotted making big moves after releasing their earnings reports.

Shares of DocuSign and Stitch Fix fell sharply in the pre-market trading Friday, June 10, after missing profit expectations for their respective quarters. On the other hand, Vail Resorts stock turned green on better-than-expected results.

In addition, spirits and wine producer Brown-Forman Corporation (NYSE:BF-B) and specialty discount stores operator Five Below, Inc. (NASDAQ:FIVE) also came into the spotlight after posting their financial results.

11. Couchbase, Inc. (NASDAQ:BASE)

Number of Hedge Fund Holders: 8

Shares of Couchbase, Inc. (NASDAQ:BASE) jumped over 13 percent on Thursday, June 9, 2022, after announcing better-than-expected financial results for its fiscal first quarter. The software company reported an adjusted loss of 32 cents per share, narrower than analysts’ average estimate for a loss of 39 cents per share.

Revenue for the quarter jumped 25 percent on a year-over-year basis to $34.9 million, beating expectations of $32.61 million. Subscription revenue rose 21 percent to $32 million, accounting for about 92 percent of the total sales.

Looking forward, Couchbase, Inc. (NASDAQ:BASE) expects to generate revenue in the range of $35.8 – $36 million for the current quarter and between $147.2 – $148.2 million for its fiscal year 2023.

Speaking on the results, CEO Matt Cain said in a statement:

“Couchbase Capella is continuing to gain momentum and customer feedback has been positive. We are confident that our expansive and differentiated product portfolio will continue to be at the forefront of our customers’ digital transformation initiatives.”

10. American Software, Inc. (NASDAQ:AMSWA)

Number of Hedge Fund Holders: 11

Shares of American Software, Inc. (NASDAQ:AMSWA) fell over eight percent on Thursday, June 9, 2022, despite beating profit and sales expectations for its fiscal fourth quarter. The Georgia-based software outsourcing company reported adjusted earnings of 13 cents per share, up from 11 cents per share in the comparable period of 2021.

Revenue for the quarter increased to $34.6 million, from $28.6 million in the year-ago period. Analysts were expecting American Software, Inc. (NASDAQ:AMSWA) to post earnings of 8 cents per share on revenue of $31.30 million.

American Software, Inc. (NASDAQ:AMSWA) also released the sales outlook for its fiscal year 2023. The company guided for revenue between $132.5 – $135.0 million for the full year.

Like American Software, Inc. (NASDAQ:AMSWA), investors are also closely watching DocuSign, Inc. (NASDAQ:DOCU), Stitch Fix, Inc. (NASDAQ:SFIX) and Vail Resorts, Inc. (NYSE:MTN) following their earnings reports.

9. Oxford Industries, Inc. (NYSE:OXM)

Number of Hedge Fund Holders: 15

Oxford Industries, Inc. (NYSE:OXM) recently delivered an impressive financial performance for its fiscal first quarter, sending its shares up nearly five percent on Thursday, June 9, 2022. The Georgia-based clothing retailer earned $3.50 per share on an adjusted basis, significantly higher than $1.89 per share in the year-ago period.

In addition, Oxford Industries, Inc. (NYSE:OXM) posted revenue of $352.6 million, up 33 percent on a year-over-year basis. The results easily exceeded the consensus of $2.75 per share for earnings and $329.02 million for revenue.

Looking forward, Oxford Industries, Inc. (NYSE:OXM) raised its fiscal 2022 adjusted earnings outlook to a range of $9.60 – $10 per share, from its previous projection of $8.75 – $9.15 per share. The revised guidance is better than the consensus of $8.86 per share.

8. ABM Industries Incorporated (NYSE:ABM)

Number of Hedge Fund Holders: 16

Shares of ABM Industries Incorporated (NYSE:ABM) recently fell to a nearly four-month low even after announcing better-than-expected results for its fiscal second quarter. The San Francisco-based facility solutions provider reported adjusted earnings of 89 cents per share, up from 82 cents per share in the same period last year.

Revenue for the quarter climbed 26.7 percent versus last year to $1.9 billion. Analysts were expecting ABM Industries Incorporated (NYSE:ABM) to post earnings of 84 cents per share on revenue of $1.88 billion.

Among other updates, ABM Industries Incorporated (NYSE:ABM) reported that it repurchased $30 million worth of its common stock during the quarter. Moreover, the company also announced a quarterly dividend of $0.195 per share.

For its fiscal year 2022, ABM Industries Incorporated (NYSE:ABM) continues to expect adjusted earnings in the range of $3.50 – $3.70 per share, in line with the consensus of $3.62 per share.

7. FuelCell Energy, Inc. (NASDAQ:FCEL)

Number of Hedge Fund Holders: 16

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) fell nearly seven percent on Thursday, June 9, 2022, after the maker of hydrogen fuel cells missed financial expectations for its fiscal second quarter.

FuelCell Energy, Inc. (NASDAQ:FCEL) reported a loss of 8 cents per share, wider than the loss of 6 cents per share in the year-ago period. Revenue for the quarter increased 17 percent on a year-over-year basis to $16.38 million. However, the results were worse than analysts’ average estimate for a loss of 5 cents per share on revenue of $32.58 million.

FuelCell Energy, Inc. (NASDAQ:FCEL) also disclosed its segment-wise sales results. Its generation revenue climbed 46 percent to $9.1 million, while service agreements revenue skyrocketed 300 percent to $2.6 million in the quarter. On the downside, advanced technologies revenue fell 34 percent to $4.7 million.

Like FuelCell Energy, Inc. (NASDAQ:FCEL), DocuSign, Inc. (NASDAQ:DOCU), Stitch Fix, Inc. (NASDAQ:SFIX) and Vail Resorts, Inc. (NYSE:MTN) also came into the limelight following their earnings reports.

6. Skillsoft Corp. (NYSE:SKIL)

Number of Hedge Fund Holders: 25

Skillsoft Corp. (NYSE:SKIL) is engaged in offering learning solutions to businesses and government institutes in the U.S. and international markets. Its learning management system help organizations prepare their workforce to overcome critical skill gaps.

Shares of Skillsoft Corp. (NYSE:SKIL) plummeted over 19 percent on Thursday, June 9, following a mixed financial performance for its fiscal first quarter. The New Hampshire-based educational technology company reported a loss of 15 cents per share, narrower than analysts’ average estimate for a loss of 17 cents per share. However, the quarterly revenue of $163.91 million missed the consensus of $170.41 million.

Skillsoft Corp. (NYSE:SKIL) also released its sales outlook for the full year. It expects adjusted revenue between $765 – $790 million for its fiscal year 2023. This compares to analysts’ average estimate of $773.57 million.

Commenting on the quarter, CEO Jeffery Tarr said in a statement:

“We reported Q1 results above expectations due to strong Skillsoft Content Segment bookings growth of 22%. I’m pleased that we’ve delivered four consecutive quarters of adjusted revenue growth since returning the Company to public markets a year ago. We also recently completed the first phase of the technical integration of Codecademy into Percipio – our immersive, AI driven learning platform – and are encouraged by our early sales pipeline success.”

5. Stitch Fix, Inc. (NASDAQ:SFIX)

Number of Hedge Fund Holders: 30

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) hit a new 52-week low in the extended hours on Thursday, June 9, 2022, after posting disappointing financial results for its fiscal third quarter. The online personal styling service also disclosed plans to cut its workforce, citing an uncertain macroeconomic environment. The company expects $40 – $60 million in annual cost savings from the job cuts.

For its fiscal third quarter, Stitch Fix, Inc. (NASDAQ:SFIX) reported a loss of 72 cents per share, wider than analysts’ average estimate for a loss of 55 cents per share. Revenue for the quarter fell 8 percent on a year-over-year basis to $492.9 million, missing expectations of $493.26 million.

Among other updates, Stitch Fix, Inc. (NASDAQ:SFIX) reported that its active clients decreased 5 percent to 3,907,000 in the quarter. Moreover, its gross margin also fell 338 basis points to 42.6 percent.

Speaking on the results, CEO Elizabeth Spaulding said:

“While third quarter top-line results, as well as active client counts, were largely within our expectations, we know we still have work to do. This quarter we made progress on improving the overall client experience in order to position Stitch Fix for profitable growth and value creation over time.”

4. Brown-Forman Corporation (NYSE:BF-B)

Number of Hedge Fund Holders: 33

Shares of Brown-Forman Corporation (NYSE:BF-B) rose nearly four percent on Wednesday, June 8, 2022, after beating profit and sales expectations for its fiscal fourth quarter. The Louisville-based spirits and wine producer reported earnings of 31 cents per share, up from 25 cents per share in the year-ago period.

Revenue came in at $996 million, representing a surge of 23 percent over the comparable period of 2021. Analysts were expecting Brown-Forman Corporation (NYSE:BF-B) to report earnings of 27 cents per share on revenue of $832 million.

Praising the results, CEO Lawson Whiting said:

“I am proud of our exceptional results, our strategic progress, and yet another year of growth despite numerous headwinds. We achieved these results due in large part to the resurgence of Jack Daniel’s Tennessee Whiskey, which experienced strong consumer demand as the on-premise channel reopened around the world.”

3. Five Below, Inc. (NASDAQ:FIVE)

Number of Hedge Fund Holders: 37

Five Below, Inc. (NASDAQ:FIVE) announced mixed financial results for its fiscal first quarter and a weak outlook for the current quarter. As a result, its shares slipped over 1 percent in the pre-market trading session on Friday, June 10, 2022.

The specialty discount stores operator reported earnings of 59 cents per share, significantly lower than 88 cents per share in the year-ago period. In addition, Five Below, Inc. (NASDAQ:FIVE) posted revenue of $639.6 million, up 7 percent on a year-over-year basis. Analysts were looking for earnings of 58 cents per share on revenue of $652.74 million.

For its fiscal second quarter, Five Below, Inc. (NASDAQ:FIVE) expects earnings in the range of 74 – 86 cents per share and revenue between $675 – $695 million. However, the outlook missed the consensus of $1.20 per share for earnings and $729.47 million for revenue.

Discussing the results, CEO Joel Anderson said:

“While first quarter sales were softer than expected, disciplined cost management enabled us to deliver against our earnings outlook. We are well positioned from an inventory standpoint with improved in-stocks and accelerated receipts for Summer and Back to School.”

2. DocuSign, Inc. (NASDAQ:DOCU)

Number of Hedge Fund Holders: 45

Shares of DocuSign, Inc. (NASDAQ:DOCU) lost nearly 25 percent of their value in the pre-market trading session on Friday, June 10, 2022, after the electronic signature technology provider failed to meet earnings expectations for its fiscal first quarter.

DocuSign, Inc. (NASDAQ:DOCU) reported adjusted earnings of 38 cents per share, missing the consensus of 46 cents per share with a big margin. On the bright side, revenue for the quarter rose 25 percent versus last year to $588.7 million and exceeded expectations of $581.76 million.

Looking forward, DocuSign, Inc. (NASDAQ:DOCU) anticipates revenue in the range of $600 – $604 million for the current quarter and between $2.47 – $2.482 billion for the full year. The outlook is in line with the consensus of $601.71 million for the current quarter and $2.48 billion for its fiscal year 2023.

Speaking on the results, CEO Dan Springer said:

“We delivered solid first-quarter results, growing revenue by 25% year-over-year and adding nearly 67,000 new customers, bringing our total global customer base to 1.24 million. We also bolstered our leadership team with key new hires who, together with our existing team, are ensuring we’re well-positioned to grow and scale our business.”

1. Vail Resorts, Inc. (NYSE:MTN)

Number of Hedge Fund Holders: 47

Shares of Vail Resorts, Inc. (NYSE:MTN) rose over six percent in the pre-market trading session on Friday, June 10, 2022, after announcing better-than-expected profit and sales for its fiscal third quarter.

Vail Resorts, Inc. (NYSE:MTN) reported earnings of $9.16 per share, compared to $6.72 per share in the year-ago period. Revenue for the quarter climbed 32.3 percent on a year-over-year basis to $1.18 billion. The results surpassed the consensus of $9.06 per share for earnings and $1.16 billion for revenue.

Vail Resorts, Inc. (NYSE:MTN) also disclosed the sales results of its flagship businesses. Its lift revenue for the quarter jumped 23.7 percent due to higher pass product sales. In comparison, revenue from the lodging segment climbed 54.6 percent, driven by fewer coronavirus-related restrictions during the quarter.

Speaking on the results, CEO Kirsten Lynch said in a statement:

“We are pleased with our overall results for the quarter and for the 2021/2022 North American ski season. As expected, results for the quarter significantly outperformed results from the prior year primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year period.”

You can also take a peek at 10 Cheap Chinese Stocks To Buy and 10 Favorite Stocks of Dan Loeb’s Third Point.

Follow Insider Monkey on Twitter

Suggested articles:

• 10 Best CBD Stocks To Buy Now
• 10 Biggest Hospital Companies
• 10 Best Undervalued Dividend Stocks To Buy

Disclosure: None. 11 Companies Drawing Attention Following Earnings Reports is originally published on Insider Monkey.