In this article, we will take a look at the 10 earnings reports you don’t want to miss. You can skip our detailed analysis of these companies and go directly to the 5 Earnings Reports You Don’t Want to Miss.
Technology giants, including NVIDIA Corporation (NASDAQ:NVDA), Applied Materials, Inc. (NASDAQ:AMAT) and Cisco Systems, Inc. (NASDAQ:CSCO), released their earnings reports earlier this week.
If we look at their price actions, Cisco shares closed higher following its upbeat financial performance. On the other hand, shares of NVIDIA and Applied Materials fell for two straight days despite posting better-than-expected quarterly results.
Several other companies, including retail giant Walmart Inc. (NYSE:WMT) and entertainment company Roku, Inc. (NASDAQ:ROKU), also traded on heavy volume after posting their fourth-quarter results.
Earnings Reports You Don’t Want to Miss
10. Nutrien Ltd. (NYSE:NTR)
Number of Hedge Fund Holders: 36
Shares of Nutrien Ltd. (NYSE:NTR) hit a new 52-week high of $78.76 on Thursday, February 17, 2022, following its solid financial performance for the fourth quarter. The latest results were mainly helped by record demand for potash during the quarter.
Nutrien Ltd. (NYSE:NTR) reported adjusted earnings of $2.47 per share on revenue of $7.26 billion. The results easily surpassed analysts’ average estimate of $2.36 per share for earnings and $6.52 billion for revenue.
In addition, the Canadian fertilizer company issued upbeat guidance for 2022. Nutrien Ltd. (NYSE:NTR) expects adjusted earnings in the range of $10.20 – $11.80 per share, well above the consensus forecast of $9.46 per share.
Speaking on the results, CEO Ken Seitz said in a statement:
“The outlook for global agriculture and crop input markets is very strong and we are well positioned to deliver significant growth in earnings and free cash flow in 2022. We will continue to advance our strategic priorities and maintain a disciplined approach to deploying capital, using our strong financial position to grow the business and return significant cash to shareholders.”
9. Albemarle Corporation (NYSE:ALB)
Number of Hedge Fund Holders: 48
Shares of Albemarle Corporation (NYSE:ALB) recently fell to a nearly seven-month low after the specialty chemicals manufacturer announced mixed financial results for the fourth quarter. The company reported adjusted earnings of $1.01 per share, down from $1.17 per share for the comparable period of 2020.
In addition, Albemarle Corporation (NYSE:ALB) generated revenue of $894.20 million, slightly above $879.15 million it posted for the year-ago period. Analysts were looking for earnings of 99 cents per share on revenue of $894.47 million.
Albemarle Corporation (NYSE:ALB) also released its segment-wise sales performance. Its Lithium sales jumped 12.9 percent to $46.2 million, Bromine sales rose 10.2 percent to $27 million and Catalysts’ sales inched up 1.7 percent to $3.4 million in the quarter.
Looking forward, Albemarle Corporation (NYSE:ALB) expects adjusted earnings in the range of $5.65 – $6.65 per share for the current fiscal year.
Like Albemarle Corporation (NYSE:ALB), investors are also closely watching NVIDIA Corporation (NASDAQ:NVDA), Walmart Inc. (NYSE:WMT) and Roku, Inc. (NASDAQ:ROKU), following their earnings reports.
8. LKQ Corporation (NASDAQ:LKQ)
Number of Hedge Fund Holders: 34
Shares of LKQ Corporation (NASDAQ:LKQ) plummeted over 14 percent on Thursday, February 17, 2022, after posting its fourth-quarter profit and sales above expectations. The Illinois-based company earned 87 cents per share on an adjusted basis, up 26.1 percent versus last year and above analysts’ average estimate of 77 cents per share.
Revenue for the quarter also rose 7.9 percent on a year-over-year basis to $3.2 billion, while analysts were expecting LKQ Corporation (NASDAQ:LKQ) to post revenue of $3.09 billion. If we look at the region-wise sales performance, revenue from North America jumped 9.2 percent, while Europe revenue increased 4.3 percent in the quarter.
LKQ Corporation (NASDAQ:LKQ) also issued its earnings outlook for the current fiscal year. The company guided for adjusted earnings in the range of $3.72 – $4.02 per share, versus the consensus forecast of $4 per share.
7. Baxter International Inc. (NYSE:BAX)
Number of Hedge Fund Holders: 42
Baxter International Inc. (NYSE:BAX) recently announced better-than-expected financial results for the fourth quarter. However, its profit outlook for the first quarter missed expectations, sending its shares down nearly three percent on Thursday, February 17, 2022.
The health care company reported adjusted earnings of $1.04 per share on revenue of $3.5 billion, translating to a year-over-year increase of 30 percent and 10 percent, respectively. Analysts were expecting Baxter International Inc. (NYSE:BAX) to post earnings of $1.03 per share on revenue of $3.35 billion.
Baxter International Inc. (NYSE:BAX) also announced its region-wise sales performance. Its U.S. sales jumped 15 percent to $1.5 billion, while worldwide sales rose 10 percent to $3.5 billion in the quarter.
Looking forward, Baxter International Inc. (NYSE:BAX) projected adjusted earnings in the range of 79 cents per share to 82 cents per share for the full year, below analysts’ average estimate of 97 cents per share.
Like Baxter International Inc. (NYSE:BAX), NVIDIA Corporation (NASDAQ:NVDA), Walmart Inc. (NYSE:WMT) and Roku, Inc. (NASDAQ:ROKU) also came into the spotlight after posting their financial results.
6. Synopsys, Inc. (NASDAQ:SNPS)
Number of Hedge Fund Holders: 41
Shares of Synopsys, Inc. (NASDAQ:SNPS) declined more than four percent on Thursday, February 17, 2022, even though the electronic design automation company topped profit expectations for its fiscal first quarter.
Synopsys, Inc. (NASDAQ:SNPS) reported adjusted earnings of $2.40 per share, up from $1.52 per share it reported for the same period one year ago. Analysts were looking for earnings of $2.37 per share. Revenue for the quarter came in at $1.270 billion versus $970.3 million last year and in line with the expectations.
The company also issued the profit outlook for its fiscal second quarter and full year. Synopsys, Inc. (NASDAQ:SNPS) guided for adjusted earnings in the range of $2.35 – $2.40 per share for the current quarter and between $7.85 – $7.92 per share for its FY 2022.
Speaking on the results, co-CEO Aart de Geus said in a statement:
“Our markets are strong, as companies across vertical segments intensify their investments to benefit from increased complexity in critical chips, system design, and immense amounts of software. Synopsys is at the heart of this wave of advanced technology. Our unique, game-changing innovations are driving excellent technical benefits for our customers and outstanding business results.”
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Disclosure: None. 10 Earnings Reports You Don’t Want to Miss is originally published on Insider Monkey
