5 Stocks in Limelight After Releasing Their Earnings Reports

In this article, we discuss the 5 stocks in limelight after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in Limelight After Releasing Their Earnings Reports.

5. Lululemon Athletica Inc. (NASDAQ: LULU)

Number of Hedge Fund Holders: 46

Shares of Lululemon Athletica Inc. (NASDAQ: LULU) jumped more than 14 percent in the pre-market trading session Thursday, 9 September 2021. The surge was driven by the company’s solid profit and sales for the second quarter.

Lululemon Athletica Inc. (NASDAQ: LULU) reported adjusted earnings of $1.65 for the quarter, more than doubled from 74 cents per share in the comparable period of 2020. Revenue for the quarter climbed 61 percent on a year-over-year basis to $1.5 billion. The results were well above the consensus forecast of $1.19 per share for earnings and $1.33 billion for revenue.

Speaking on the results, CEO Calvin McDonald said:

“Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments. We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability.”

Lululemon Athletica Inc. (NASDAQ: LULU) also released its financial outlook for the full year. It expects adjusted earnings in the range of $7.38 – $7.48 per share and revenue between $6.190 billion – $6.260 billion.