10 Stocks that Just Delivered Impressive Quarterly Earnings

In this article, we are going to take a look at the 10 stocks that just delivered impressive quarterly earnings.

The strong earnings season continues this week, with major U.S. stocks including DISH Network Corp (NASDAQ: DISH), BioNTech SE (NASDAQ: BNTX), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN), and TransDigm Group (NYSE: TDG), reporting solid financial results.

However, some companies have issued muted financial outlook due to uncertainty created by the rapidly spreading Delta variant. Moreover, few analysts have warned that the spread of new Covid-19 variants can affect the overall economic recovery.

Nevertheless, investors are pleased with the impressive earning reports released by U.S. stocks. We have compiled a list of 10 stocks that exceeded analysts’ expectations for their latest quarters.

Photo by Austin Distel on Unsplash

With this context in mind, let’s now discuss our list of the 10 stocks that just delivered impressive quarterly earnings.

10 Stocks that Just Delivered Impressive Quarterly Earnings

10. TEGNA Inc. (NYSE: TGNA)

Number of Hedge Fund Holders: 20

Digital media company TEGNA Inc. (NYSE: TGNA) recently posted better-than-expected financial results for the second quarter, mainly driven by record subscription revenue. The company reported earnings of 48 cents per share for the three months ended June 30, well above 9 cents per share in the comparable period of 2020.

Excluding certain items, TEGNA Inc. (NYSE: TGNA) earned 50 cents per share on an adjusted basis, matching the consensus forecast. Revenue for the quarter jumped 27 percent on a year-over-year basis to $732.9 million, beating analysts’ average estimate of $731.4 million.

If we look at the performance of key segments, subscription revenue increased 16 percent to $375 million, while revenue from advertising and marketing services soared 49 percent to $341 million.

CEO Dave Lougee praised the results saying, “TEGNA’s consistent execution of our long-term strategy resulted in another quarter of record performance, supported by the underlying strength of our subscription business, growing and accelerating advertising and marketing services revenue, as well as our disciplined expense management.”

TEGNA Inc. (NYSE: TGNA) also issued sales guidance for the third quarter. The company expects its revenue to grow in the range of low-single digits percentage. In addition, operating expenses are expected to increase in the mid-to-high single digits percentage range on an adjusted basis.

9. 3D Systems Corporation (NYSE: DDD)

Number of Hedge Fund Holders: 16

Shares of 3D Systems Corporation (NYSE: DDD) jumped more than 21 percent on Tuesday after delivering another solid quarter. The company reported earnings of 12 cents per share for the second quarter ended June 30, mainly driven by elevated demand from healthcare and industrial clients. In comparison, 3D Systems Corporation (NYSE: DDD) had reported a loss of 13 cents per share in the second quarter of 2020.

Revenue for the quarter jumped 44 percent on a year-over-year basis to $162.6 million. The results easily surpassed the consensus forecast of 5 cents per share for earnings and $143.3 million for revenue.

3D Systems Corporation (NYSE: DDD) enjoyed growth across its key business units. Healthcare revenue climbed 69 percent to $82.8 million, while revenue from industrial sales rose 25.3 percent to $79.7 million.

Like DISH Network Corp (NASDAQ: DISH), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), 3D Systems Corporation (NYSE: DDD) is gaining investors’ attention after posting upbeat quarterly results.

Speaking on the results, CEO Jeffrey Graves said:

“Our second quarter performance reflected continued positive momentum, with results that greatly surpassed those of a year ago from both a revenue and profitability perspective. Perhaps even more importantly, we also saw double-digit revenue growth on a consecutive quarter basis, an important indicator of the momentum we are now experiencing.”

8. BioNTech SE (NASDAQ: BNTX)

Number of Hedge Fund Holders: 18

BioNTech SE (NASDAQ: BNTX) has been around for nearly 13 years now. It was founded by two scientists named Ugur Sahin and Özlem Türeci with the vision of developing individualized cancer immunotherapy. BioNTech SE (NASDAQ: BNTX) finally came into the spotlight in 2020 after joining hands with Pfizer to develop a vaccine against Covid-19.

The collaboration turned out fruitful after their vaccine, called BNT162b2, received emergency use authorization. BioNTech SE (NASDAQ: BNTX) stock has gained massive value since the approval of BNT162b2. The company’s shares recently made a new 52-week high of $464 after announcing record results for the second quarter, mainly helped by solid demand for its Covid-19 vaccine.

BioNTech SE (NASDAQ: BNTX) reported earnings of 2.79 billion euros for the three months ended June 30, compared to a loss of 88 million euros in the same period last year. Revenue for the quarter came in at 5.31 billion euros, significantly higher than just 41.7 million euros in the year-ago period.

The company said that it has supplied over one billion doses of its vaccine so far. Overall, BioNTech SE (NASDAQ: BNTX) has signed deals for supplying more than 2.2 billion vaccine doses in 2021 and around one billion in the next year.

Like DISH Network Corp (NASDAQ: DISH), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), BioNTech SE (NASDAQ: BNTX) is gaining investors’ attention after posting upbeat quarterly results.

7. Scientific Games Corporation (NASDAQ: SGMS)

Number of Hedge Fund Holders: 23

Gaming and entertainment company Scientific Games Corporation (NASDAQ: SGMS) recently announced better-than-expected results for the second quarter ended June 30. Scientific Games Corporation (NASDAQ: SGMS) reported earnings of $1.10 per share, crushing the consensus forecast of 9 cents per share. In comparison, Scientific Games Corporation (NASDAQ: SGMS) had reported a loss of $2.15 per share in the same period of 2020. Back then, the results were mainly hurt by disruptions caused by the pandemic.

Revenue for the quarter soared 63 percent on a year-over-year basis to $880 million, well ahead of $765 million estimated by analysts. The surge in revenue was mainly attributed to strong growth across all key segments of the company. For instance, revenue from both lottery and digital units climbed 27 percent, while overall gaming business grew more than 300 percent on a year-over-year basis.

Like DISH Network Corp (NASDAQ: DISH), BioNTech SE (NASDAQ: BNTX), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), Scientific Games Corporation (NASDAQ: SGMS) is gaining investors’ attention after posting upbeat quarterly results.

Commenting on the quarter, CEO Barry Cottle said:

“I am very pleased that we continue to make tremendous progress on all of our key strategic pillars while also driving significant growth in the quarter. We have emerged from the pandemic a much stronger Company with significant momentum. All of our businesses grew sequentially on both the top and bottom lines in the quarter. Gaming delivered its highest revenue quarter since the fourth quarter of 2019, Lottery and Digital achieved record results and SciPlay delivered its second highest revenue quarter in its history.”

6. US Foods Holding Corp. (NYSE: USFD)

Number of Hedge Fund Holders: 40

More and more people have started eating out since the mass availability of the Covid-19 vaccine. The trend helped US Foods Holding Corp. (NYSE: USFD) announce solid financial results for the second quarter. The leading foodservice distributor reported earnings of 20 cents per share for the three months ended July, marking a significant recovery from a loss of 44 cents per share in the year-ago quarter.

Excluding one-time items, US Foods Holding Corp. (NYSE: USFD) earned 58 cents per share on an adjusted basis, well ahead of the consensus forecast of 34 cents per share. In addition, revenue for the quarter climbed 68 percent to $7.7 billion, easily beating analysts’ average estimate of $6.94 billion.

Like DISH Network Corp (NASDAQ: DISH), BioNTech SE (NASDAQ: BNTX), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), US Foods Holding Corp. (NYSE: USFD) is gaining investors’ attention after posting upbeat quarterly results.

CEO Pietro Satriano expressed his satisfaction with the results. Satriano said in a statement:

“As markets around the United States reopen without restrictions, we have seen strong demand for our products, services and consultative expertise. While supply chain labor is expected to remain challenging for the next few quarters, we remain focused on delivering profitable growth as our industry continues to recover.”

5. Chegg, Inc. (NYSE: CHGG)

Number of Hedge Fund Holders: 33

Online tutoring company Chegg recently announced second-quarter profit and sales above expectations. Chegg reported earnings of 43 cents per share for the quarter ended June 30, up from 37 cents per share in the comparable period of 2020. Revenue for the quarter jumped 30 percent on a year-over-year basis to $198.5 million.

The results surpassed the consensus forecast of 38 cents per share for earnings and $190 million for revenue. The impressive quarterly performance was mainly driven by a 38 percent surge in services revenues.

Speaking on the results, CEO Dan Rosensweig said, “Chegg had a great Q2 with total revenue growth of 30%, driven by 38% growth in Chegg Services revenue with Chegg Services subscribers growing to 4.9 million in the quarter. Our international growth also continues to be strong, and we are confident we will exceed our initial expectation of over one million international subscribers for the year.”

Chegg also issued its sales outlook for the third quarter and FY 2021. The company expects revenue in the range of $170 million to $175 million for the current quarter. For the full year, revenue is expected to come between $805 million and $815 million.

4. Tyson Foods (NYSE: TSN)

Number of Hedge Fund Holders: 28

Most restaurants around the world are now running at full capacity due to the ease of Covid-19 mobility restrictions. As a result, the demand for chicken, beef, and pork has increased sharply in recent months. Being a top meat supplier, Tyson Foods has benefitted from the elevated demand.

The company recently delivered a solid quarter. TSN reported earnings of $2.05 per share for the third quarter ended July 3, translating to a surge of 42 percent from the year-ago quarter. Excluding items, the adjusted earnings of $2.70 per share crushed the consensus forecast of $1.61 per share.

Revenue came in at $12.48 billion, higher than $10.02 billion in the comparable period last year. Analysts, on average, were expecting Tyson Foods to post revenue of $11.46 billion.

Commenting on the results, CEO Donnie King said:

“With trusted brands that met strong consumer demand, we have delivered 12 consecutive quarters of share gains in core business lines at retail. Our foodservice volume improved as the restaurant industry began to reopen and recover. Our beef business increased production to meet strong U.S. and international demand for higher-quality products.”

Tyson Foods also lifted its sales outlook for fiscal 2021. It expects revenue in the range of $46 billion to $47 billion for the full year. That’s higher than its previous forecast, between $44 billion and $46 billion.

3. DISH Network Corporation (NASDAQ: DISH)

Number of Hedge Fund Holders: 51

DISH started its journey as a small retail store named EchoStar in 1980, initially selling direct-to-home satellite TV products and services. In 1996, the company launched its satellite television service called Dish Network that became increasingly popular in the U.S. In 2007, the company split its technology and infrastructure business under the EchoStar name, while the direct-broadcast satellite television business was renamed DISH Network.

The company has recently announced better-than-expected financial results for the second quarter. DISH reported earnings of $1.06 per share for the three months ended June 30, up from 78 cents per share in the comparable period of 2020.

Revenue improved to $4.49 billion, versus $3.19 billion in the year-ago quarter. The results exceeded analysts’ average estimate of 89 cents per share for earnings and $4.43 billion for revenue.

However, DISH lost 67,000 Pay-TV subscribers in the quarter, still lower than 96,000 it lost in the same period last year. On the bright side, it acquired over 200,000 wireless subscribers as a result of its asset purchase deal with Republic Wireless.

2. TransDigm Group (NYSE: TDG)

Number of Hedge Fund Holders: 62

TransDigm primarily makes money by selling spare parts to airlines and commercial aerospace clients. The company on Tuesday announced its profit and sales for the third quarter that topped expectations.

The company reported adjusted earnings of $3.33 per share for the quarter ended July 3, more than doubled from $1.54 per share in the comparable period of 2020. Analysts, on average, were looking for earnings of $2.93 per share. Revenue for the quarter jumped 19 percent on a year-over-year basis to $1.218 billion, just ahead of the consensus forecast of $1.2 billion. However, TDG stock didn’t gain any value despite beating expectations.

Discussing the results, CEO Kevin Stein said:

“Trends in the commercial aerospace industry are encouraging and have increasingly shown signs of recovery in recent months with vaccination rates expanding and air traffic improving, especially in certain domestic markets. We also saw another quarter of sequential improvement in our commercial aftermarket revenues.”

1. Berkshire Hathaway Inc. (NYSE: BRK-B)

Number of Hedge Fund Holders: 111

Berkshire Hathaway is one of the world’s largest holding companies. It has stakes in numerous publicly listed companies, besides owning several businesses in insurance, railroad, power generation, and retail sectors.

The company recently announced solid results for the second quarter, fueled by a strong recovery in energy, railroads, and utilities segments. Berkshire’s Q2 profit rose 6.8 percent on a year-over-year basis to $28.1 billion. In addition, operating earnings for the quarter jumped 21 percent to $6.69 billion.

Revenue for the quarter surged 21.6 percent on a year-over-year basis to $69.1 billion. Moreover, the company’s cash pile in the quarter swelled to $144.1 billion, compared to $138.3 billion at the end of 2020. Berkshire also revealed that it reacquired $6 billion worth of its shares during the quarter, bringing the total to $12.6 billion on a year-to-date basis.

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Disclosure: None. 10 Stocks that Just Delivered Impressive Quarterly Earnings is originally published on Insider Monkey.