11 Earnings Reports Everyone is Talking About

Published March 30, 2022 at 2:10 pm EDT Updated September 7, 2026 at 2:06 pm EDT

In this article, we will take a look at the 11 earnings reports everyone is talking about.

Notable stocks from the technology and consumer cyclical sectors, including Micron Technology, Inc. (NASDAQ:MU), Lululemon Athletica Inc. (NASDAQ:LULU) and RH (NYSE:RH), are trending after releasing financial results for their respective quarters.

Shares of Micron Technology and Lululemon Athletica turned green following their upbeat quarterly profit. On the other hand, RH stock fell over seven percent in the pre-market trading session on Wednesday, March 30, after missing sales expectations for its fiscal fourth quarter.

In addition, tech company Concentrix Corporation (NASDAQ:CNXC) and restaurant operator Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) were also among the notable stocks that recently came out with their earnings reports.

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Now let’s discuss the detailed financial performance of these companies.

Earnings Reports Everyone is Talking About

11. The Lovesac Company (NASDAQ:LOVE)

Number of Hedge Fund Holders: 14

Shares of The Lovesac Company (NASDAQ:LOVE) skyrocketed over 20 percent on Tuesday, March 29, 2022, after the Connecticut-based furniture retailer announced better-than-expected financial results for its fiscal fourth quarter.

The Lovesac Company reported earnings of $2.03 per share, up from $1.37 per share in the same period last year. Revenue for the quarter climbed 51.3 percent on a year-over-year basis to $196.2 million.

The surge in revenue was mainly driven by higher sales volume and lower discounts during the quarter. Analysts were expecting The Lovesac Company to earn 54 cents per share on revenue of $174.3 million.

Praising the latest quarterly performance, CEO Shawn Nelson said in a statement:

“Lovesac’s continued strong financial performance in the face of a myriad of macro and industry shifts affirms the power of our unique business model and products.”

10. Cal-Maine Foods, Inc. (NASDAQ:CALM)

Number of Hedge Fund Holders: 15

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) turned red in the after-market trading session on Tuesday, March 29, 2022, after the Mississippi-based egg producer missed profit expectations for its fiscal third quarter.

Cal-Maine Foods, Inc. earned 81 cents per share, up from 28 cents per share in the year-ago period but below the consensus of 83 cents. On the bright side, revenue increased 33 percent to $477.5 million and surpassed expectations of $468.84 million.

The quarterly sales were mainly helped by higher shell egg pricing. Cal-Maine Foods, Inc. reported that the average selling price for eggs climbed 29.4 percent to $1.612 per dozen, compared to $1.246 in the same period last year.

Like Cal-Maine Foods, Inc., investors are also closely watching Micron Technology, Inc., Lululemon Athletica Inc. and RH, following their earnings reports.

9. Progress Software Corporation (NASDAQ:PRGS)

Number of Hedge Fund Holders: 17

Shares of Progress Software Corporation (NASDAQ:PRGS) rose to a nearly three-month high in the after-hours trading session on Tuesday, March 29, 2022, following an upbeat financial performance for its fiscal first quarter.

Progress Software Corporation reported earnings of 97 cents per share, topping expectations of 85 cents per share. In addition, revenue for the quarter rose 12 percent on a year-over-year basis to $147.5 million and exceeded estimates of $140.55 million.

The Bedford-based software company also issued its financial outlook for the current quarter. Progress Software Corporation guided for earnings in the range of 64 – 96 cents per share on revenue of $145 – $148 million.

Discussing the results, CFO Anthony Folger said:

“We delivered strong financial results across the board in the first quarter, a continuation of the trend that we saw for much of fiscal year 2021. The integration of Kemp is tracking to plan and Kemp’s first full quarter with Progress contributed in line with our expectations and helped sustain the momentum of our total growth strategy.”

8. MillerKnoll, Inc. (NASDAQ:MLKN)

Number of Hedge Fund Holders: 18

MillerKnoll, Inc. (NASDAQ:MLKN) recently announced its fiscal third-quarter results. The company’s profit decreased significantly over last year, but it managed to beat expectations. MillerKnoll shares rose more than 12 percent in the after-market trading session on Tuesday, March 29, 2022, following the results.

The Michigan-based furniture producer reported adjusted earnings of 28 cents per share, down from 65 cents per share in the year-ago period. Revenue came in at $1.03 billion, up 74.3 percent on a year-over-year basis. Analysts were expecting MillerKnoll, Inc. to post earnings of 27 cents per share on revenue of $1.03 billion.

Discussing the results, MillerKnoll, Inc. said revenue could be even higher but supply-chain and labor challenges impacted its ability to produce and deliver orders. The company added that these disruptions reduced its quarterly revenue by nearly $34 million. Nevertheless, the company said it had implemented a range of measures to improve its production levels.

Gross margin also fell 640 basis points in the quarter. MillerKnoll, Inc. blamed increasing commodity prices and other inflationary pressures for the drop. However, the company said that recent price hikes helped offset some of those pressures.

Looking forward, MillerKnoll, Inc. expects earnings in the range of 46 – 52 cents per share and revenue between $1.075 – $1.115 billion for its fiscal fourth quarter. Analysts expect earnings of 49 cents per share and revenue of $1.03 billion for the same period.

7. Chewy, Inc. (NYSE:CHWY)

Number of Hedge Fund Holders: 21

Chewy, Inc. (NYSE:CHWY) recently announced disappointing financial results for its fiscal fourth-quarter along with a fragile sales outlook. The weak results sent Chewy shares down more than 14 percent in the after-hours trading session on Tuesday, March 29, 2022.

The Florida-based pet food retailer reported an adjusted loss of 15 cents per share, compared to earnings of 5 cents per share in the year-ago period. In addition, Chewy, Inc. posted revenue of $2.39 billion, up 17 percent on a year-over-year basis. Analysts were looking for a loss of 8 cents per share on revenue of $2.42 billion.

Chewy, Inc. also issued its sales outlook for the current quarter. It expects revenue in the range of $2.40 – $2.43 billion for its fiscal first quarter, below the consensus of $2.51 billion.

Like Chewy, Inc., Micron Technology, Inc., Lululemon Athletica Inc. and RH also came into the limelight after posting their quarterly results.

6. Verint Systems Inc. (NASDAQ:VRNT)

Number of Hedge Fund Holders: 22

Shares of Verint Systems Inc. (NASDAQ:VRNT) rose nearly two percent in the after-hours trading session on Tuesday, March 29, 2022, after the Huntington-based analytics company reported better-than-expected financial results for its fiscal fourth quarter.

Verint Systems Inc. reported adjusted earnings of 57 cents per share, marginally above the consensus of 56 cents per share. Revenue for the quarter increased four percent on a year-over-year basis to $236 million, ahead of analysts’ average estimate of $231.6 million.

Looking forward, Verint Systems Inc. expects earnings of about $2.50 per share for its fiscal 2023, representing a growth of 10 percent over last year. Revenue for the same period is expected to come around $940 million, representing year-over-year growth of 7 percent.

Speaking on the results, CEO Dan Bodner said in a statement:

“The cloud momentum we experienced throughout last year continued into the fourth quarter driving our non-GAAP revenue and diluted EPS results ahead of our guidance. We also crossed the mid-point of our cloud transition and 61% of our new perpetual license equivalent (PLE) bookings came from SaaS in the fourth quarter.”

5. Concentrix Corporation (NASDAQ:CNXC)

Number of Hedge Fund Holders: 23

Shares of Concentrix Corporation slightly moved up in the pre-market trading session on Wednesday, March 30, 2022, following an upbeat financial performance for its fiscal first quarter.

Concentrix Corporation reported adjusted earnings of $2.85 per share, up from $2.29 in the year-ago period. Revenue increased 13.5 percent on a year-over-year basis to $1.536 billion. The results topped the consensus of $2.71 per share for earnings and $1.46 billion for revenue.

Looking forward, Concentrix Corporation expects revenue in the range of $1.570 – $1.60 billion for the current quarter and between $6.450 – $6.60 billion for the full year.

Speaking on the results, CEO Chris Caldwell said:

“We delivered double-digit revenue and profit growth in the first quarter. Integration of PK into our Concentrix Catalyst team is on track, and we are seeing strong demand from strategic client partners for our unique mix of CX digital solutions.”

4. Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)

Number of Hedge Fund Holders: 28

Shares of Dave & Buster’s Entertainment, Inc. recently hit a new 52-week high of $50 despite missing expectations for its fiscal fourth quarter. The Dallas-based restaurant and entertainment company earned 52 cents per share, compared to a loss of $1.19 per share in the same period last year.

Revenue came in at $343.1 million, representing a big jump of 193.7 percent on a year-over-year basis. However, analysts were expecting Dave & Buster’s Entertainment, Inc. to earn 61 cents per share on revenue of $365.37 million.

Discussing the results, CEO of Dave & Buster’s Entertainment, Inc., Kevin Sheehan, said in a statement:

“Fiscal 2021 was a demanding year but our store management teams – and all of our team members rose to the challenge working tirelessly to return our stores to fully operational status. Despite continuing headwinds from COVID-19 (including vaccine requirements in certain markets) we saw strong sales across our stores in fiscal 2021.”

3. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 43

Shares of Lululemon Athletica Inc. jumped to a nearly three-month high in the pre-market trading session on Wednesday, March 30, 2022, after topping profit expectations for its fiscal fourth quarter.

Lululemon Athletica Inc. reported adjusted earnings of $3.37 per share, up from $2.58 per share in the fourth quarter of 2020. Analysts were looking for earnings of $3.28 per share.

Revenue for the quarter rose 23 percent versus last year to $2.13 billion and matched the consensus forecast. Among other updates, Lululemon Athletica Inc. reported that it repurchased $812.6 million worth of its common stock during the quarter. In addition, it opened 22 new stores, bringing the total count to 574.

Looking forward, Lululemon Athletica Inc. expects earnings in the range of $1.38 – $1.43 per share and revenue between $1.525 – $1.550 billion for the current quarter. This compares to the consensus of $1.29 per share for earnings and $1.55 billion for revenue.

2. RH (NYSE:RH)

Number of Hedge Fund Holders: 58

RH recently announced a better-than-expected profit for its fiscal fourth quarter. However, the home-furnishings company’s quarterly sales were below expectations, sending its shares down more than six percent in the pre-market trading session on Wednesday, March 30, 2022.

RH earned $5.66 per share on an adjusted basis, beating estimates of $5.58 per share. On the downside, revenue came in at $903 million, up 11 percent on a year-over-year basis but below the consensus of $931.78 million.

For the current quarter, RH expects its revenue to grow in the range of 7 – 8 percent versus the same period of 2021. For its fiscal 2022, it projected revenue growth between 5 – 7 percent on a year-over-year basis.

Addressing shareholders in a letter, RH said:

“RH continues to set a new standard for financial performance in the home furnishings industry and our results now reflect those of the luxury sector as adjusted operating margin reached 25.6% in 2021, up 1,130 basis points versus 2019, reflecting the strongest two-year growth in our sector.”

1. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 83

Micron Technology, Inc. continues to benefit from the global chip shortage. The Idaho-based chip giant recently delivered another impressive quarter, helped by pent-up demand for its products and services.

Micron shares rose nearly three percent in the pre-market trading session on Wednesday, March 30, 2022, following the solid results for its fiscal second quarter.

Micron Technology, Inc. reported adjusted earnings of $2.14 per share, well above 98 cents per share in the year-ago period. Revenue for the quarter jumped 24.8 percent on a year-over-year basis to $7.79 billion. The results easily exceeded analysts’ average estimate of $1.97 per share for earnings and $7.52 billion for revenue.

Micron Technology, Inc. also issued an upbeat financial outlook for its fiscal third quarter. It expects adjusted earnings in the range of $2.36 – $2.56 per share, above expectations of $2.21 per share. In addition, it guided for revenue between $8.5 – $8.9 billion for the current quarter versus the consensus of $8.06 billion.

Speaking on the results, CEO Sanjay Mehrotra said:

“Micron’s excellent second quarter results exceeded the high end of our guidance for both revenue and margin, reflecting our strong execution. We’re leading the industry in technology across DRAM and NAND, and our product portfolio momentum is accelerating. With outstanding first half results, Micron is on track to deliver record revenue and robust profitability in fiscal 2022.”

You can also take a peek at 10 Consumer Staples Stocks To Buy According To Billionaire Ray Dalio and 10 Undervalued Dividend Kings To Buy In 2022.

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