5 Notable Quarterly Reports to Watch

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

5. The J. M. Smucker Company (NYSE:SJM)

Number of Hedge Fund Holders: 29

Shares of The J. M. Smucker Company (NYSE:SJM) rose nearly six percent on Tuesday, June 7, 2022, after beating profit and sales expectations for its fiscal fourth quarter. The Orrville-based food products maker reported adjusted earnings of $2.23 per share, up from $1.89 per share in the same period of 2021.

Revenue for the quarter increased 6 percent versus last year to $2.03 billion. Analysts were expecting The J. M. Smucker Company (NYSE:SJM) to post earnings of $1.88 per share on revenue of $1.98 billion.

Moving forward, The J. M. Smucker Company (NYSE:SJM) expects adjusted earnings in the range of $7.85 – $8.25 per share for its fiscal year 2023. The guidance missed the consensus of $8.91 per share with a big margin.

Speaking on the results, CEO Mark Smucker said:

“Our fourth quarter and full-year results demonstrate the continued execution of our strategy and momentum of the business, amid a challenging and dynamic environment. Our strong financial results reflect sustained consumer demand for at-home food and coffee and consumers’ desire for our trusted and iconic brands.”

4. GitLab Inc. (NASDAQ:GTLB)

Number of Hedge Fund Holders: 30

Shares of GitLab Inc. (NASDAQ:GTLB) skyrocketed nearly 28 percent on Tuesday, June 7, 2022, after posting a narrower-than-expected loss for its fiscal first quarter. The developer of software solutions reported an adjusted loss of 18 cents per share, compared to 44 cents per share in the year-ago period.

In addition, GitLab Inc. (NASDAQ:GTLB) posted revenue of $87.4 million, representing a massive surge of 75 percent on a year-over-year basis. Analysts were looking for a loss of 27 cents per share on revenue of $77.81 million.

GitLab Inc. (NASDAQ:GTLB) also issued its financial outlook for the current quarter. It anticipates an adjusted loss in the range of 24 – 23 cents per share and revenue between $93.5 – $94.5 million for its fiscal second quarter.

Praising the results, CFO Brian Robins said in a statement:

“Metrics in the first quarter were strong: 75% year-over-year revenue growth, dollar-based net retention above 130%, 92% year-over-year RPO growth, 90% non-GAAP gross margins, non-GAAP operating margin improvement of 1,700 basis points year-over-year and we saw great growth in all the customer segments despite the macro-environment.”

3. Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Number of Hedge Fund Holders: 40

Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) recently rose to a one-month high after announcing better-than-expected financial results for its fiscal first quarter. The sporting goods store chain reported adjusted earnings of $1.73 per share, crushing expectations of $1.41 per share.

Revenue came in at $1.47 billion, while analysts were expecting Academy Sports and Outdoors, Inc. (NASDAQ:ASO) to generate revenue of $1.45 billion. On the downside, comparable sales for the quarter dropped 7.1 percent amid tougher comparisons versus the same period of 2021.

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) also revised its financial outlook for the full year. The company now anticipates adjusted earnings of $6.55 – $7.25 per share and revenue of $6.43 – $6.63 billion for its fiscal 2022.

Speaking on the results, CEO Michael Mullican said:

“Academy continues to effectively manage costs through this inflationary environment and generate strong cash flow, allowing us to fund investments in our strategic initiatives and new store growth.”

2. Smartsheet Inc. (NYSE:SMAR)

Number of Hedge Fund Holders: 45

Shares of Smartsheet Inc. (NYSE:SMAR) fell over six percent in the pre-market trading session on Wednesday, June 8, 2022, despite beating financial expectations for its fiscal first quarter.

Smartsheet Inc. (NYSE:SMAR) reported an adjusted loss of 18 cents per share, compared to 9 cents per share in the same period of 2021. Revenue for the quarter climbed 44 percent on a year-over-year basis to $168.3 million. The results were better than analysts’ average estimate for a loss of 19 cents per share and revenue of $162.55 million.

Smartsheet Inc. (NYSE:SMAR) also disclosed its segment-wise sales performance. Its subscription revenue skyrocketed 44 percent to $155.3 million, while professional services revenue also climbed 44 percent to $13 million in the quarter.

Looking forward, Smartsheet Inc. (NYSE:SMAR) expects revenue in the range of $180 – $181 million for its fiscal second quarter and between $756 – $761 million for its fiscal year 2023.

1. Coupa Software Incorporated (NASDAQ:COUP)

Number of Hedge Fund Holders: 46

Shares of Coupa Software Incorporated (NASDAQ:COUP) closed higher on Tuesday, June 7, 2022, after posting its fiscal first-quarter profit and sales above expectations. The software company reported adjusted earnings of 8 cents per share, beating estimates of 5 cents per share.

In addition, Coupa Software Incorporated (NASDAQ:COUP) posted revenue of $196.37 million, representing a surge of 18 percent over the year-ago period. Analysts were looking for revenue of $190.61 million.

For the current quarter, Coupa Software Incorporated (NASDAQ:COUP) guided for adjusted earnings in the range of 7 – 10 cents per share and revenue between $202 – $205 million.

Commenting on the results, CEO Rob Bernshteyn said:

“We began the fiscal year strong by delivering record quarterly total revenue and subscription revenue, and also yielding over 20% operating cash flow and adjusted free cash flow margins. Company leaders continue to recognize the importance and value of back office transformation. Our comprehensive platform acts as a single source of truth to provide our customers with the data and insights necessary to maximize every dollar of business spend.”

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