5 Key Quarterly Reports to Watch

In this article, we discuss the 5 key quarterly reports to watch. If you want to read our detailed analysis of these companies, go directly to the 11 Key Quarterly Reports to Watch.

5. The Mosaic Company (NYSE:MOS)

Number of Hedge Fund Holders: 46

Shares of The Mosaic Company (NYSE:MOS) fell over three percent in the extended hours on Monday, May 2, 2022, after announcing mixed financial results for the first quarter. The leading supplier of phosphate and potash reported adjusted earnings of $2.41 per share that matched the consensus estimates.

However, the quarterly revenue of $3.92 billion slightly fell short of analysts’ average estimate of $4.08 billion. Among other updates, The Mosaic Company (NYSE:MOS) reported that its gross margin increased to 36.7 percent, from 18.9 percent in the year-ago period. Moreover, it repurchased $422 million worth of its common stock during the quarter.

Speaking on the results, CEO of The Mosaic Company (NYSE:MOS), Joc O’Rourke, said:

“Looking forward, we expect higher annual production across our global platform in both potash and phosphates, as a result of the completed ramp up of Esterhazy K3, a higher run-rate at Colonsay, and a recovery of phosphate output from our North American operations.”

4. ON Semiconductor Corporation (NASDAQ:ON)

Number of Hedge Fund Holders: 47

Shares of ON Semiconductor Corporation (NASDAQ:ON) jumped nearly seven percent on Monday, May 2, 2022, after delivering solid profit and sales for the first quarter. The semiconductor supplier earned $1.22 per share on an adjusted basis, significantly higher than 35 cents per share in the year-ago period.

Revenue for the quarter climbed 31 percent on a year-over-year basis to $1.95 billion. Analysts were expecting ON Semiconductor Corporation (NASDAQ:ON) to report earnings of $1.05 per share on revenue of $1.90 billion.

If we look at the performance of its flagship businesses, revenue from the power solutions group soared 32 percent to $986.7 million, the advanced solutions group’s revenue increased 30 percent to $689.3 million, and the intelligent sensing group’s revenue rose 32 percent to $269 million in the quarter.

Looking forward, ON Semiconductor Corporation (NASDAQ:ON) expects adjusted earnings in the range of $1.20 – $1.32 per share and revenue between $1.965 – $2.065 billion for the second quarter. The outlook is better than the consensus of $1.05 per share for earnings and $1.920 billion for revenue.

3. ZoomInfo Technologies Inc. (NASDAQ:ZI)

Number of Hedge Fund Holders: 55

ZoomInfo Technologies Inc. (NASDAQ:ZI) recently came into the spotlight after announcing better-than-expected financial results for the first quarter. The Vancouver-based tech company reported adjusted earnings of 18 cents per share, compared to 13 cents per share in the year-ago period.

In addition, ZoomInfo Technologies Inc. (NASDAQ:ZI) posted revenue of $241.7 million, up 48 percent over the same period of 2021. The results exceeded the consensus of 15 cents per share for earnings and $227.53 million for revenue.

Looking forward, ZoomInfo Technologies Inc. (NASDAQ:ZI) guided for revenue in the range of $253 – $255 million for the second quarter and between $1.06 – $1.07 billion for the full year.

Praising the results, CEO Henry Schuck said:

“ZoomInfo delivered a great start to the year as reflected in our first quarter results, which include another quarter of strong revenue growth and free cash flow. Customers are embracing the ZoomInfo RevOS platform, with more companies using the data, insights, automation and workflows to grow their business and efficiently go-to-market.”

2. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Holders: 55

Shares of MGM Resorts International (NYSE:MGM) slightly moved up in the pre-market trading session on Tuesday, May 3, 2022, following its upbeat financial performance for the first quarter.

MGM Resorts International (NYSE:MGM) reported adjusted earnings of 1 cent per share, swinging from an adjusted loss of 68 cents per share in the year-ago period. Revenue for the quarter soared 73 percent on a year-over-year basis to $2.9 billion. Analysts were looking for a loss of 7 cents per share on revenue of $2.78 billion.

MGM Resorts International (NYSE:MGM) also released the sales results of its flagship businesses. Revenue at the Las Vegas Strip Resorts skyrocketed 205 percent to $1.7 billion, while revenue from the Regional Operations rose 25 percent to $891 million in the quarter. On the downside, revenue from MGM China fell 9 percent to $268 million.

Discussing the results, CEO Bill Hornbuckle said:

“We delivered a strong first quarter in our domestic operations driven by weekend demand and a better mix of business. Our midweek business is improving with each quarter and our group base is growing after a tough January. The results demonstrate the robust demand for our gaming entertainment offerings with the backdrop of increased sports and entertainment programming in the Las Vegas market.”

1. Expedia Group, Inc. (NASDAQ:EXPE)

Number of Hedge Fund Holders: 82

Shares of Expedia Group, Inc. (NASDAQ:EXPE) turned red in the pre-market trading session on Tuesday, May 3, 2022, despite beating financial expectations for the first quarter. The online travel company reported an adjusted loss of 47 cents per share, narrower than analysts’ average estimate for a loss of 58 cents per share.

In addition, Expedia Group, Inc. (NASDAQ:EXPE) posted revenue of $2.25 billion, up 81 percent over the year-ago period and above expectations of $2.23 billion. Gross bookings for the quarter also climbed 58 percent versus last year to $24.4 billion.

Speaking on the results, CEO of Expedia Group, Inc. (NASDAQ:EXPE), Peter Kern, said:

“As we have seen many times during Covid, this quarter was a tale of two stories. There was early impact from Omicron leftover from late last year, which faded as the turnaround in demand reached new highs since the start of Covid. While the war in Ukraine did slow some of the recovery in Europe, there too we see travel at new highs since the start of the pandemic.”

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

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