10 Stocks On Investors’ Radar After Posting Their Financial Results

In this article, we will take a look at the 10 stocks on investors’ radar after posting their financial results.

Notable stocks from technology, industrials, and consumer cyclical sectors, including Adobe Inc. (NASDAQ:ADBE), The Toro Company (NYSE:TTC), HEICO Corporation (NYSE:HEI), FedEx Corporation (NYSE:FDX), and Lennar Corporation (NYSE:LEN) announced their financial results earlier this week.

Adobe stock fell over 10 percent after offering a weak financial outlook, while Lennar stock slipped around four percent after announcing weak earnings. On the other hand, FedEx stock rose more than six percent in the pre-market trading session on December 17 after beating expectations for its fiscal second quarter.

We will review the detailed performance of these companies in the remaining article. Therefore, let’s start our list of 10 stocks on investors’ radar after posting their financial results.

Source:Pixabay

Stocks on Investors’ Radar After Posting Their Financial Results

10. Steelcase Inc. (NYSE:SCS)

Number of Hedge Fund Holders: 12

Shares of Steelcase Inc. (NYSE:SCS) slipped nearly four percent in the after-hours trading session on Thursday, December 16, 2021, after announcing lower-than-expected financial results for its fiscal third quarter.

Steelcase Inc. (NYSE:SCS) reported earnings of 8 cents per share, slightly shy of analysts’ average estimate of 9 cents per share. The quarterly revenue of $738.2 million also came in below expectations of $767.6 million. On the bright side, total orders in the quarter increased 40 percent versus last year, helped by strength in the Asia Pacific region.

The Michigan-based furniture company also issued its sales outlook for the current quarter. Steelcase Inc. (NYSE:SCS) expects revenue in the range of $740 – $765 million for its fiscal fourth quarter, compared to revenue of $677.1 million it posted for the same period last year.

Speaking on the results, CEO of Steelcase Inc. (NYSE:SCS), Sara Armbruster, said in a statement:

“Like many other industries, we continue to be impacted by a significant number of supply chain disruptions causing us to extend lead times and delay some shipments, which negatively impacted our third quarter revenue more than we had anticipated.”

9. Worthington Industries, Inc. (NYSE:WOR)

Number of Hedge Fund Holders: 14

Worthington Industries, Inc. (NYSE:WOR) is a leading manufacturer of steel. The company, based in Ohio, serves a range of industries, including agriculture, construction and automotive. Worthington recently announced mixed results for its fiscal second quarter.

The company reported earnings of $2.15 per share, compared to a loss of $1.40 per share in the year-ago period. Revenue for the quarter jumped 69 percent versus last year to $1.2 billion. Analysts were expecting Worthington Industries, Inc. (NYSE:WOR) to post earnings of $1.72 per share on revenue of $1.25 billion.

Worthington Industries, Inc. (NYSE:WOR) also offered its segment-wise sales performance for the quarter. Steel processing revenue increased nearly two-fold to $937.8 million, consumer products’ revenue rose 20 percent to $140.8 million, and building products’ revenue jumped 29 percent to $121.1 million. On the downside, revenue from sustainable energy solutions slipped three percent to $33.1 million.

Like Worthington Industries, Inc. (NYSE:WOR), Adobe Inc. (NASDAQ:ADBE), The Toro Company (NYSE:TTC), HEICO Corporation (NYSE:HEI), FedEx Corporation (NYSE:FDX) and Lennar Corporation (NYSE:LEN) also caught investors’ attention after releasing their financial results.

8. ABM Industries Incorporated (NYSE:ABM)

Number of Hedge Fund Holders: 19

Shares of ABM Industries Incorporated (NYSE:ABM) fell more than 11 percent on Wednesday, December 15, 2021, despite beating profit and sales expectations for its fiscal fourth quarter.

ABM Industries Incorporated (NYSE:ABM) earned 85 cents per share on an adjusted basis, up from 69 cents per share in the comparable period of 2020. Revenue for the quarter rose 14.2 percent versus last year to $1.7 billion. The results easily surpassed the consensus forecast of 80 cents per share for earnings and $1.64 billion for revenue.

The company also issued the profit outlook for its fiscal year 2022. ABM Industries Incorporated (NYSE:ABM) expects adjusted earnings in the range of $3.30 – $3.55 per share, compared to analysts’ average estimate of $3.45 per share.

7. Jabil Inc. (NYSE:JBL)

Number of Hedge Fund Holders: 27

Shares of Jabil Inc. (NYSE:JBL) made a new 52-week high of $66.50 on Thursday, December 16, 2021, after beating profit and sales expectations for its fiscal first quarter. The manufacturing services company reported adjusted earnings of $1.92 per share, ahead of the consensus forecast of $1.80 per share.

In addition, Jabil Inc. (NYSE:JBL) posted revenue of $8.6 billion, surpassing expectations of $8.3 billion. If we look at the performance of its flagship segments, revenue from the diversified manufacturing services jumped 11 percent in the quarter. In comparison, revenue from the electronics manufacturing services rose 7 percent on a year-over-year basis.

Looking forward, Jabil Inc. (NYSE:JBL) expects adjusted earnings in the range of $1.35 – $1.55 per share and revenue between $7.1 – $7.7 billion for its fiscal second quarter. The guidance matched the consensus forecast of $1.43 per share for earnings and $7.4 billion for revenue.

Like Jabil Inc. (NYSE:JBL), investors are also closely watching Adobe Inc. (NASDAQ:ADBE), The Toro Company (NYSE:TTC), HEICO Corporation (NYSE:HEI), FedEx Corporation (NYSE:FDX) and Lennar Corporation (NYSE:LEN), after their earnings reports.

6. Nordson Corporation (NASDAQ:NDSN)

Number of Hedge Fund Holders: 29

Shares of Nordson Corporation (NASDAQ:NDSN) fell to a nearly two-month low after posting lower-than-expected financial results for its fiscal fourth quarter. The manufacturer of dispensing equipment reported earnings of $1.88 per share, significantly higher than 31 cents per share in the year-ago quarter.

Revenue came in at $599 million, translating to a surge of seven percent on a year-over-year basis. Analysts were expecting Nordson Corporation (NASDAQ:NDSN) to post earnings of $2.10 per share on revenue of $617.4 million.

Looking at the performance of its flagship businesses, revenue from the industrial precision solutions inched up two percent to $314 million. In comparison, revenue from the advanced technology solutions climbed 14 percent to $285 million in the quarter.

Nordson Corporation (NASDAQ:NDSN) also released the revenue outlook for its fiscal first quarter and full year. The company expects its current-quarter revenue to grow in the range of 14 – 16 percent. For FY 2022, it projected revenue growth of 6 – 10 percent on a year-over-year basis.

Speaking on the results, CFO of Nordson Corporation (NASDAQ:NDSN), Joseph Kelley, said:

“Our fourth quarter 2021 performance was very strong with double digit organic growth and incremental operating profit margins of 52%. Looking sequentially, gross margins were impacted by a spike in logistics costs and non-recurring cost increases associated with divisional alignment efforts around best growth opportunities. Pricing actions are being taken to mitigate these negative impacts on gross margin as we move into the first half of 2022.”

5. The Toro Company (NYSE:TTC)

Number of Hedge Fund Holders: 29

The Toro Company (NYSE:TTC) recently came into the spotlight after announcing better-than-expected financial results for its fiscal fourth quarter. The manufacturer of turf maintenance equipment reported adjusted earnings of 56 cents per share, compared to 64 cents per share in the year-ago quarter.

Analysts were expecting The Toro Company (NYSE:TTC) to report earnings of 53 cents per share. Revenue for the quarter rose 14.2 percent on a year-over-year basis to $960.7 million, beating expectations of $956 million.

Looking forward, The Toro Company (NYSE:TTC) expects adjusted earnings in the range of $3.90 – $4.10 per share and revenue growth of 8 – 10 percent for its fiscal year 2022.

Speaking on the results, CEO of The Toro Company (NYSE:TTC), Richard Olson, said in a statement:

“We exceeded our top- and bottom-line guidance for fiscal 2021, driving double-digit net sales growth for both the quarter and full-year for our professional and residential segments. We delivered these solid results, despite global supply chain challenges and inflationary pressures.”

4. HEICO Corporation (NYSE:HEI)

Number of Hedge Fund Holders: 35

Shares of HEICO Corporation (NYSE:HEI) slipped over three percent on Thursday, December 16, 2021 despite beating profit and sales expectations for its fiscal fourth quarter. The aerospace and electronics company reported earnings of 62 cents per share, up from 45 cents per share in the year-ago quarter.

In addition, HEICO Corporation (NYSE:HEI) posted revenue of $509.4 million, translating to  a year-over-year surge of 20 percent. The results were better than analysts’ average estimate of 58 cents per share for earnings and $505.5 million for revenue.

Discussing the results, CEO of HEICO Corporation (NYSE:HEI), Laurans Mendelson, said in a statement:

“As we look ahead to fiscal 2022, we expect the commercial air travel recovery to continue, particularly in certain domestic travel markets, while less so in international markets, even though the Pandemic will likely continue to adversely impact the commercial aerospace industry and HEICO. International markets have not recovered to the extent of domestic markets, and while we are confident of their future recovery and the potential sales increase, the timing is uncertain.”

3. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders: 49

Shares of FedEx Corporation (NYSE:FDX) rose more than six percent in the pre-market trading session on Friday, December 17, 2021, after delivering impressive financial results for its fiscal second quarter.

FedEx Corporation (NYSE:FDX) earned $4.83 per share, unchanged from last year and above the consensus forecast of $4.28 per share. Revenue for the quarter rose 14 percent on a year-over-year basis to $23.5 billion, partly driven by increased home deliveries. Analysts were looking for revenue of $22.41 billion.

The company also lifted its profit outlook for the full year. FedEx Corporation (NYSE:FDX) now expects adjusted earnings in the range of $20.50 per share – $21.50 per share, compared to its previous guidance of $19.75 – $21 per share.

Commenting on the quarter, CFO of FedEx Corporation (NYSE:FDX), Michael C. Lenz, said:

“FedEx operating income grew in our second quarter, driven by strong revenue growth and effective management of our cost and expected labor availability challenges.”

2. Lennar Corporation (NYSE:LEN)

Number of Hedge Fund Holders: 50

Shares of Lennar Corporation (NYSE:LEN) fell over four percent on Thursday, December 16, 2021, after announcing disappointing earnings for its fiscal fourth quarter. The Florida-based home builder blamed the supply chain hurdles and delayed house deliveries for the weak results.

Lennar Corporation (NYSE:LEN) reported earnings of $3.91 per share, compared to $2.82 per share in the year-ago quarter. Revenue for the quarter rose 24 percent versus last year to $8.4 billion.

Analysts were expecting Lennar Corporation (NYSE:LEN) to earn $4.15 per share on revenue of $8.2 billion. If we look at the key growth drivers, new home deliveries in the quarter increased to 17,819 units versus 16,090 units in the comparable period of 2020. In addition, revenue from home sales surged 26 percent to $8 billion in the quarter.

Looking forward, Lennar Corporation (NYSE:LEN) expects home deliveries of around 12,500 in its fiscal first quarter. In addition, the company expects to deliver about 67,000 homes during its current fiscal year, compared to 59,825 in FY 2021.

Speaking on the results, CEO Stuart Miller said in a statement:

“Our record fourth quarter results reflect both continued strength in the housing market across the country, and continued housing supply shortage driven by limited entitled land, labor and supply chain constraints, and 10 years of production shortfall.”

1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 95

Shares of Adobe Inc. (NASDAQ:ADBE) plummeted over 10 percent on Thursday, December 16, 2021, after issuing a weak outlook for its fiscal 2022 along with its fourth-quarter results.

Adobe Inc. (NASDAQ:ADBE) expects adjusted earnings of $13.70 per share on revenue of $17.90 billion for its current fiscal year. However, the guidance was below analysts’ average estimate of $14.26 per share for earnings and $18.16 billion for revenue.

For the fourth quarter, Adobe Inc. (NASDAQ:ADBE) reported adjusted earnings of $3.20 per share, in line with the consensus forecast. Revenue for the quarter jumped 20 percent versus last year to $4.11 billion, beating expectations of $4.087 billion.

Praising the latest quarterly performance, CFO of Adobe Inc. (NASDAQ:ADBE), Dan Durn, said:

“Adobe’s financial performance in fiscal 2021 was outstanding, with top-line acceleration resulting in more than $7 billion in operating cash flows. With an estimated $205 billion addressable market, we are well positioned for significant growth in the years ahead with our industry-leading products and platforms.”

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Disclosure: None. 10 Stocks On Investors’ Radar After Posting Their Financial Results is originally published on Insider Monkey.