5 Companies in Focus After Releasing Their Earnings Reports

In this article, we discuss the 5 companies in focus after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 11 Companies in Focus After Releasing Their Earnings Reports.

5. Etsy, Inc. (NASDAQ:ETSY)

Number of Hedge Fund Holders: 47

Etsy, Inc. (NASDAQ:ETSY) managed to beat financial expectations for the first quarter. However, its sales outlook for the second quarter disappointed investors, sending its stock down to a nearly one-year low in the pre-market trading session on Thursday, May 5, 2022.

The Brooklyn-based company reported earnings of 60 cents per share, down from $1 per share in the year-ago period. Revenue increased 5.2 percent on a year-over-year basis to $579.27 million. Analysts were expecting Etsy, Inc. (NASDAQ:ETSY) to earn 59 cents per share on revenue of $575.44 million.

Looking forward, Etsy, Inc. (NASDAQ:ETSY) projected revenue in the range of $540 – $590 million for the current quarter. The guidance missed analysts’ average estimate of $628 million with a big margin.

Discussing the results, CEO Josh Silverman said:

“Despite continued uncertainty and macroeconomic headwinds, Etsy continues to rise to the occasion to deliver solid results that show us maintaining most of the gains reported during the extremely strong year-ago period.”

4. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 48

Shares of Albemarle Corporation (NYSE:ALB) jumped over 14 percent in the pre-market trading session on Thursday, May 5, 2022, following its upbeat financial performance for the first quarter.

Albemarle Corporation (NYSE:ALB) earned $2.38 per share on an adjusted basis, crushing the expectations of $1.63 per share. Revenue for the quarter jumped 36 percent versus last year to $1.13 billion, topping expectations of $1.02 billion.

In addition, Albemarle Corporation (NYSE:ALB) raised its sales outlook for 2022, citing price hikes in its Lithium and Bromine segments. The specialty chemicals manufacturing company now expects revenue in the range of $5.2 – $5.6 billion for the full year, representing a growth of 60 – 70 percent over last year.

Commenting on the results, CEO Kent Masters said:

“Many of the end markets we serve are critical for transitioning to greener energy and advancing electrification and digitalization. Our ongoing investments capitalize on the rapid growth and strong pricing trends in these markets. We continue to explore sustainable options to expand our conversion capacity and resources, including opportunities in North America and Europe.”

3. eBay Inc. (NASDAQ:EBAY)

Number of Hedge Fund Holders: 53

Shares of eBay Inc. (NASDAQ:EBAY) fell to a nearly two-month low in the pre-market trading session on Thursday, May 5, 2022, after its second-quarter outlook fell short of estimates.

eBay Inc. (NASDAQ:EBAY) expects adjusted earnings in the range of 87 – 91 cents per share and revenue between $2.35 – $2.40 billion for the current quarter. This compares to analysts’ average estimate of $1.01 per share for earnings and $2.54 billion for revenue.

The weak outlook also overshadowed the e-commerce company’s better-than-expected Q1 results. eBay Inc. (NASDAQ:EBAY) reported earnings of $1.05 per share, above expectations of $1.03 per share. The quarterly revenue of $2.48 billion also came in above the consensus of $2.46 billion.

Speaking on the results, CEO Jamie Iannone said:

“Despite the current macro headwinds, we remain confident in the long-term strategy we laid out during our Investor Day in March. We are building an eBay for the future with an eye toward delivering long-term, sustainable growth.”

2. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 92

Booking Holdings Inc. (NASDAQ:BKNG) delivered solid profit and sales for the first quarter, sending its shares up more than 10 percent in the pre-market trading session on Thursday, May 5, 2022.

The online travel agency reported adjusted earnings of $3.90 per share, swinging from a loss of $5.26 per share in the comparable period of 2021. Revenue increased to $2.7 billion, from $1.14 billion in the same period last year. Analysts were expecting Booking Holdings Inc. (NASDAQ:BKNG) to earn 85 cents per share on revenue of $2.53 billion.

Among other updates, Booking Holdings Inc. (NASDAQ:BKNG) reported that its gross travel bookings for the first quarter reached a record $27 billion, representing a surge of about two folds over the same period of 2021. The company primarily benefitted from the increasing demand for leisure travel around the world.

Discussing the results, CEO Glenn Fogel said in a statement:

“Despite an uncertain macroeconomic environment, we have seen continued strengthening of global travel trends so far in the second quarter of 2022, and we are preparing for a busy summer travel season ahead. I’m encouraged by how well our teams are executing to capture travel demand in this recovery environment and our progress in expanding our payments platform at Booking.com while we build towards our Connected Trip vision.”

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 153

Shares of Uber Technologies, Inc. (NYSE:UBER) fell nearly five percent on Wednesday, May 4, 2022, despite delivering better-than-expected financial results for the first quarter. The ride-hailing giant reported an adjusted loss of 18 cents per share, narrower than analysts’ average estimate for a loss of 24 cents per share.

Revenue for the quarter skyrocketed 136 percent on a year-over-year basis to $6.85 billion, while analysts were expecting Uber Technologies, Inc. (NYSE:UBER) to post revenue of $6.13 billion.

Gross booking for the quarter climbed 35 percent to $26.4 billion, with mobility gross bookings climbing 58 percent to $10.7 billion and delivery gross bookings increasing 12 percent to $13.9 billion in the quarter. In addition, Uber Technologies, Inc. (NYSE:UBER) reported that total trips in the first quarter jumped 18 percent to 1.71 billion.

Looking forward, Uber Technologies, Inc. (NYSE:UBER) expects gross bookings in the range of $28.5 – $29.5 billion and adjusted EBITDA between $240 – $270 million for the second quarter.

You can also take a peek at 10 Best Value Stocks in Warren Buffett’s Portfolio and 10 Favorite Stocks of Dan Loeb’s Third Point.

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