Despite crude futures dipping below $44 per barrel, all three indexes are in the green today, largely on the back of solid earnings reports. In this article we’ll take a closer look at the latest quarterly results from Boston Beer Co Inc (NYSE:SAM), South State Corporation (NASDAQ:SSB), Stanley Black & Decker, Inc. (NYSE:SWK), Textron Inc. (NYSE:TXT), and Watsco Inc (NYSE:WSO). We’ll also use SEC filings to determine how the smart money is positioned in each of the five equities.
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Boston Beer Surges on Double Beat
Boston Beer Co Inc (NYSE:SAM) shares have rocketed upwards by almost 18% this afternoon after the company reported second quarter earnings of $2.06 per share on revenue of $244.8 million, beating the consensus estimates by $0.12 per share and $5.93 million. Revenue fell by 8.9% year-over-year, caused in part by a 4% decline in shipment volumes. Management sees full year EPS coming in at $6.40-to-$7.00, with the average analyst estimate of $6.70 per share being at the very mid-point of the company’s guidance. Ken Fisher‘s Fisher Asset Management owned 345,673 shares of Boston Beer Co Inc (NYSE:SAM) at the end of the second quarter.
South State Earnings Top Estimates, Shares Rise 5.4%
South State Corporation (NASDAQ:SSB) earned $1.18 per share on revenue of $113.52 million for the second quarter, beating earnings estimates by $0.07 per share but missing the top-line consensus mark by $2.28 million. Net loan growth during the second quarter was an annualized 16.5% while South State reported an efficiency ratio of 64.54%. Book value per common share was $45.64. As per our database of 766 active funds, 14 had a bullish position in South State Corporation (NASDAQ:SSB) at the end of the first quarter.
On the next page we examine why Stanley Black & Decker, Textron Inc, and Watsco Inc are in the spotlight today.