5 Notable Earnings Reports to Watch

In this article, we discuss the 5 notable earnings reports to watch. If you want to read our detailed analysis of these companies, go directly to the 11 Notable Earnings Reports to Watch.  

5. Guidewire Software, Inc. (NYSE:GWRE)

Number of Hedge Fund Holders: 27

Shares of Guidewire Software, Inc. (NYSE:GWRE) rose more than three percent in the after-hours trading session on Tuesday, March 8, 2022, after posting a narrower-than-expected loss for its fiscal second quarter.

Guidewire Software, Inc. (NYSE:GWRE) reported an adjusted loss of 6 cents per share, lower than the consensus forecast for a loss of 11 cents per share. Revenue came in at $204.6 million, topping expectations of $197.48 million.

In addition, Guidewire Software, Inc. (NYSE:GWRE) disclosed its segment-wise sales performance. Its subscription and support revenue climbed 42 percent to $84.3 million, while services revenue jumped 19 percent to $50.5 million in the quarter. On the downside, license revenue for the quarter fell 10 percent to $69.8 million.

The California-based software company also released the sales outlook for its fiscal third quarter. Guidewire Software, Inc. (NYSE:GWRE) expects to generate revenue in the range of $186 – $190 million.

4. Ciena Corporation (NYSE:CIEN)

Number of Hedge Fund Holders: 32

Ciena Corporation (NYSE:CIEN) recently announced better-than-expected earnings for its fiscal first quarter. However, its quarterly revenue fell short of expectations, sending its shares down to a nearly four-month low.

The Maryland-based telecommunications networking equipment supplier earned 47 cents per share on an adjusted basis, compared to 52 cents per share in the year-ago period. Analysts expected Ciena Corporation (NYSE:CIEN) to earn 45 cents per share.

In addition, Ciena Corporation (NYSE:CIEN) reported revenue of $844.4 million, up 11.5 percent on a year-over-year basis but below expectations of $856.85 million. Looking at the performance of its flagship segments, revenue from its networking platforms increased 8.7 percent to $626.6 million, while global services revenue rose 8.9 percent to $123.8 million in the quarter.

Speaking on the results, CEO Gary Smith said:

“We expect our strategic investments to drive a significant increase in supply chain capacity in the second half, and therefore remain confident in our ability to address demand and achieve the strong revenue growth we expect for the fiscal year.”

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

Number of Hedge Fund Holders: 35

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) plunged to an all-time low in the pre-market trading session on Wednesday, March 9, 2022, after issuing a disappointing sales outlook for its fiscal third quarter.

Stitch Fix, Inc. (NASDAQ:SFIX) guided for revenue in the range of $485 – $500 million for the current quarter, representing a drop of 10 – 7 percent over the comparable period last year. The outlook also missed the consensus of $560.5 million.

The weak sales forecast overshadowed the company’s better-than-expected results for its fiscal second quarter. Stitch Fix, Inc. (NASDAQ:SFIX) reported a loss of 28 cents per share for three months ended January 29, 2022, compared to a loss of 20 cents per share in the same period last year.

Revenue came in at $516.7 million, up from $504.1 million in the year-ago period. Analysts were expecting Stitch Fix, Inc. (NASDAQ:SFIX) to report a loss of 29 cents per share on revenue of $515.12 million.

Among other updates, Stitch Fix, Inc. (NASDAQ:SFIX) reported that its active clients crossed the four million mark at the end of the quarter, representing a growth of about 4 percent on a year-over-year basis.

2. DICK’S Sporting Goods, Inc. (NYSE:DKS)

Number of Hedge Fund Holders: 37

Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) closed higher on Tuesday, March 8, 2022, after delivering solid profit and sales for its fiscal fourth quarter. The Pennsylvania-based sporting goods retailer earned $3.64 per share, beating expectations of $3.43 per share.

In addition, DICK’S Sporting Goods, Inc. (NYSE:DKS) generated revenue of $3.35 billion, ahead of the consensus of $3.31 billion. Same-store sales for the quarter also increased to 5.9 percent, compared to 4.3 percent projected by analysts.

Looking forward, DICK’S Sporting Goods, Inc. (NYSE:DKS) expects adjusted earnings in the range of $11.70 – $13.10 per share for the full year. The outlook is significantly higher than analysts’ average estimate of $11.31 per share.

Commenting on the quarter, CEO Lauren Hobart said:

“We are extremely pleased that our team delivered the largest sales quarter in our company’s history. Our diverse category and brand portfolio, world-class omni-channel platform and strong execution continue to help us meet robust consumer demand. We are a growth company with a strong balance sheet and incredible momentum and confidence in our business.”

1. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 56

Shares of MongoDB, Inc. (NASDAQ:MDB) surged over 13 percent in the pre-market trading session on Wednesday, March 9, 2022, after posting a narrower-than-expected loss for its fiscal fourth quarter.

MongoDB, Inc. (NASDAQ:MDB) reported an adjusted loss of 9 cents per share, lower than the loss of 33 cents per share in the year-ago period. Revenue for the quarter climbed 56 percent on a year-over-year basis to $266.5 million. The results were better than the consensus estimate for a loss of 22 cents per share on revenue of $241.76 million.

MongoDB, Inc. (NASDAQ:MDB) also disclosed its segment-wise sales performance. Its subscription revenue climbed 58 percent to $258.2 million, while services revenue jumped 17 percent to $8.3 million in the quarter.

Moving forward, MongoDB, Inc. (NASDAQ:MDB) projected an adjusted loss in the range of 12 – 8 cents per share and revenue between $263 – $267 million for the current quarter. This compares to analysts’ average estimate of 17 cents per share for loss and $253.6 million for revenue.

Speaking on the results, CEO Dev Ittycheria said:

“MongoDB delivered exceptional fourth quarter results, highlighted by delivering 85% Atlas revenue growth and surpassing $1 billion in annualized revenue.  Our success is being driven by the fact that our modern application data platform dramatically reduces friction in the development process to make it incredibly easy for developers to build compelling applications that create a competitive advantage.”

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