In this article, we will take a look at the 10 companies under investors’ radar after releasing their earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Companies Under Investors’ Radar After Releasing their Earnings Reports.
Leading stocks from the technology sector, including HP Inc. (NYSE:HPQ), Workday, Inc. (NASDAQ:WDAY) and Ambarella, Inc. (NASDAQ:AMBA), recently came out with their quarterly reports.
Shares of Workday turned green following its upbeat financial performance, while Ambarella stock took a deep dive, losing nearly 26 percent of its value, despite surpassing expectations for its fiscal fourth quarter.
Several other stocks, including healthcare company GoodRx Holdings, Inc. (NASDAQ:GDRX) and cloud-based video conferencing platform Zoom Video Communications, Inc. (NASDAQ:ZM) were also seen trading on massive volume following their earnings reports.
Companies Under Investors’ Radar After Releasing their Earnings Reports
10. Lucid Group, Inc. (NASDAQ:LCID)
Number of Hedge Fund Holders: 14
Shares of Lucid Group, Inc. (NASDAQ:LCID) plummeted over 13 percent in the after-hours trading session on Monday, February 28, 2022, after announcing lower-than-expected financial results for the fourth quarter.
Lucid Group, Inc. (NASDAQ:LCID) reported a loss of 64 cents per share, wider than the consensus forecast for a loss of 35 cents per share. Revenue came in at $26.4 million, while analysts were looking for $37 million.
Looking forward, Lucid Group, Inc. (NASDAQ:LCID) expects to produce 12,000 – 14,000 units of its luxury EV sedan Lucid Air this year, significantly lower than its previous projection of 20,000 units.
The company blamed the supply-chain disruptions for slashing its production target. In addition, Lucid Group, Inc. (NASDAQ:LCID) also delayed the launch of its upcoming electric SUV, named Gravity, till 2024.
Speaking on the results, CFO Sherry House said in a statement:
“We have a strong team, strong products, and a strong balance sheet with over $6.2 billion in cash on hand at year-end. We continue to invest in our business; we met our target of opening 20 Studio and Service locations in North America; in 2022 we will expand our footprint in Europe and the Middle East while laying the foundation for a later expansion into the Asia Pacific.”
9. Luminar Technologies, Inc. (NASDAQ:LAZR)
Number of Hedge Fund Holders: 21
Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) turned red in the after-hours trading session on Monday, February 28, 2022, after the automotive technology company posted a wider-than-expected loss for the fourth quarter.
Luminar Technologies, Inc. (NASDAQ:LAZR) reported an adjusted loss of 12 cents per share, narrower than an adjusted loss of 14 cents per share reported in the same period one year ago. However, it was slightly wider than analysts’ average estimate for a loss of 11 cents per share.
On the bright side, revenue for the quarter skyrocketed 408 percent on a year-over-year basis to $12.3 million and surpassed expectations of $11.83 million. Looking forward, Luminar Technologies, Inc. (NASDAQ:LAZR) expects to generate revenue of at least $40 million in the current fiscal year.
Like Luminar Technologies, Inc. (NASDAQ:LAZR), investors are also closely watching HP Inc. (NYSE:HPQ), Workday, Inc. (NASDAQ:WDAY and GoodRx Holdings, Inc. (NASDAQ:GDRX), following their earnings reports.
8. Trex Company, Inc. (NYSE:TREX)
Number of Hedge Fund Holders: 28
Shares of Trex Company, Inc. (NYSE:TREX) slightly moved down in the pre-market trading session on Tuesday, March 1, 2022, despite beating profit and sales expectations for the fourth quarter.
Trex Company, Inc. (NYSE:TREX) earned 55 cents per share on an adjusted basis, up 49 percent from the comparable period of 2020. Revenue for the quarter also climbed 33 percent versus last year to $304 million. The results exceeded the consensus forecast of 53 cents per share for earnings and $302.51 million for revenue.
The manufacturer of composite decking and railing products also issued its sales outlook for the first quarter. Trex Company, Inc. (NYSE:TREX) expects revenue in the range of $320 – $330 million. The midpoint of the outlook represents a growth of 32 percent over the first quarter of 2021.
Discussing the results, CEO Bryan Fairbanks said in a statement:
“With strong growth across our product lines and channel partners, Trex continues to benefit from strong-trending consumer interest in our environmentally friendly, low maintenance product portfolio that transforms and enhances the outdoor living experience.”
7. DENTSPLY SIRONA Inc. (NASDAQ:XRAY)
Number of Hedge Fund Holders: 28
Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) fell over seven percent on Monday, February 28, 2022, following its disappointing financial performance for the fourth quarter. The dental equipment maker reported adjusted earnings of 76 cents per share, missing expectations of 79 cents per share.
In addition, DENTSPLY SIRONA Inc. (NASDAQ:XRAY) posted revenue of $1.09 billion, nearly unchanged versus last year and below analysts’ average estimate of $1.13 billion. If we look at the performance of its flagship segments, technologies & equipment revenue rose 6.8 percent to $676 million, while consumables revenue fell 8.3 percent to $412 million in the quarter.
Looking forward, DENTSPLY SIRONA Inc. (NASDAQ:XRAY) expects adjusted earnings in the range of $3.05 – $3.25 per share and revenue between $4.3 – $4.4 billion for the current fiscal year. This compares to the consensus forecast of $3.19 per share for earnings and $4.48 billion for revenue.
Like DENTSPLY SIRONA Inc. (NASDAQ:XRAY), HP Inc. (NYSE:HPQ), Workday, Inc. (NASDAQ:WDAY and GoodRx Holdings, Inc. (NASDAQ:GDRX), also came into the limelight after posting their financial results.
6. Novavax, Inc. (NASDAQ:NVAX)
Number of Hedge Fund Holders: 30
Shares of Novavax, Inc. (NASDAQ:NVAX) fell over six percent in the pre-market trading session on Tuesday, March 1, 2022, after its fourth-quarter results missed analysts’ expectations with a big margin.
The biotechnology company reported a loss of $11.18 per share, compared to a loss of $2.70 per share in the year-ago period. Revenue for the quarter came in at $222 million, down from $280 million for the fourth quarter of 2020. Analysts were expecting Novavax, Inc. (NASDAQ:NVAX) to report a loss of $1.8 per share on revenue of $332 million.
Novavax, Inc. (NASDAQ:NVAX) also released its sales outlook for 2022. It guided for revenue in the range of $4 – $5 billion for the current fiscal year, compared to the consensus of $4.70 billion.
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Disclosure: None. 10 Companies Under Investors’ Radar After Releasing their Earnings Reports is originally published on Insider Monkey.
