5 Quarterly Reports Grabbing Everyone’s Attention

In this article, we discuss the 5 quarterly reports grabbing everyone’s attention. If you want to read our detailed analysis of these companies, go directly to the 10 Quarterly Reports Grabbing Everyone’s Attention. 

5. Ross Stores, Inc. (NASDAQ:ROST)

Number of Hedge Fund Holders: 39

Shares of Ross Stores, Inc. (NASDAQ:ROST) plummeted over 27 percent, hitting a nearly two-year low, in the pre-market trading session on Friday, May 20, 2022. The drop followed the company’s disappointing financial performance for its fiscal first quarter.

Ross Stores, Inc. (NASDAQ:ROST) reported earnings of 97 cents per share, well below $1.34 per share in the year-ago period. Revenue for the quarter also slipped 4.1 percent versus last year to $4.33 billion. The results missed the consensus of $1 per share for earnings and $4.53 billion for revenue.

Looking forward, Ross Stores, Inc. (NASDAQ:ROST) expects earnings in the range of 99 cents – $1.07 per share for the current quarter and between $4.34 – $4.58 per share for the full year. The outlook came in below the consensus of $1.33 per share for its fiscal second quarter and $5.02 per share for its fiscal 2022.

CEO Barbara Rentler also seemed displeased with the latest performance. She said in a statement:

“We are disappointed with our lower-than-expected first quarter results. Following a stronger-than-planned start early in the period, sales underperformed over the balance of the quarter. We knew fiscal 2022 would be a difficult year to predict, especially the first half when we were facing last year’s record levels of government stimulus and significant customer pent-up demand as COVID restrictions eased.”