In this article, we will take a look at the 10 quarterly reports you don’t want to miss. You can skip our detailed analysis of these companies and go directly to the 5 Quarterly Reports You Don’t Want to Miss.
Notable stocks from the energy and industrials sectors, including Exxon Mobil Corporation (NYSE:XOM), United Parcel Service, Inc. (NYSE:UPS) and Stanley Black & Decker, Inc. (NYSE:SWK), recently posted their financial results for the fourth quarter.
Shares of Exxon Mobil and United Parcel Service climbed to new highs after delivering an upbeat profit. However, Stanley Black & Decker stock turned red after its fourth-quarter revenue fell short of expectations.
Several other companies, including Cirrus Logic, Inc. (NASDAQ:CRUS), L3Harris Technologies, Inc. (NYSE:LHX) and Otis Worldwide Corporation (NYSE:OTIS), also came into the limelight after posting their quarterly results.
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Let’s review the performance of these companies.
Quarterly Reports You Don’t Want to Miss
10. Kilroy Realty Corporation (NYSE:KRC)
Number of Hedge Fund Holders: 24
Shares of Kilroy Realty Corporation (NYSE:KRC) rose four percent in the after-hours trading session on Monday, January 31, 2022, after announcing better-than-expected financial results for the fourth quarter.
Kilroy Realty Corporation (NYSE:KRC) earned 40 cents per share on revenue of $261.1 million. The results easily surpassed analysts’ average estimate of 30 cents per share for earnings and $246.78 million for revenue.
The California-based real estate investment trust also released its earnings outlook for 2022. Kilroy Realty Corporation (NYSE:KRC) expects earnings in the range of $1.76 – $1.96 per share for the full year.
9. Cirrus Logic, Inc. (NASDAQ:CRUS)
Number of Hedge Fund Holders: 24
Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) turned red in the after-hours trading session on Monday, January 31, 2022, despite beating expectations for its fiscal third quarter. The fabless semiconductor supplier reported adjusted earnings of $2.54 per share, up from $2.13 per share in the year-ago quarter.
Revenue came in at $548.3 million, representing a substantial jump from $294 million for the comparable period of 2020. Analysts were expecting Cirrus Logic, Inc. (NASDAQ:CRUS) to post earnings of $2.14 per share on revenue of $510 million.
Cirrus Logic, Inc. (NASDAQ:CRUS) also issued the sales outlook for its FY 2022. It expects revenue in the range of $400 million – $440 million. In addition, gross margin for the full year is expected to come between 51 – 53 percent.
Speaking on the results, CEO John Forsyth said in a statement:
“Cirrus Logic reported record revenue in the December quarter, above the top end of our guidance, driven by significant contributions from the expanded high-performance mixed-signal content shipping into smartphones and strong overall demand for our products.”
Like Cirrus Logic, Inc. (NASDAQ:CRUS), investors are also closely watching Exxon Mobil Corporation (NYSE:XOM), United Parcel Service, Inc. (NYSE:UPS) and Stanley Black & Decker, Inc. (NYSE:SWK), following their earnings reports.
8. Woodward, Inc. (NASDAQ:WWD)
Number of Hedge Fund Holders: 25
Shares of Woodward, Inc. (NASDAQ:WWD) fell over five percent in the after-hours trading session on Monday, January 31, 2022, after announcing disappointing financial results for its fiscal first quarter.
Woodward, Inc. (NASDAQ:WWD) earned 56 cents per share on an adjusted basis, missing expectations of 81 cents per share. The quarterly revenue of $591.08 million also fell short of analysts’ average estimate of $538 million.
If we look at the performance of flagship business units of Woodward, Inc. (NASDAQ:WWD), aerospace revenue rose five percent to $336 million. In comparison, industrial revenue fell five percent to $205 million in the quarter.
Looking forward, Woodward, Inc. (NASDAQ:WWD) expects adjusted earnings in the range of $3.55 – $3.95 per share and revenue between $2.45 – $2.65 billion for its fiscal year 2022.
7. Atkore Inc. (NYSE:ATKR)
Number of Hedge Fund Holders: 26
Shares of Atkore Inc. (NYSE:ATKR) jumped nearly 12 percent on Monday, January 31, 2022, after delivering solid profit and sales for its fiscal first quarter. The supplier of metal products and electrical raceway solutions reported adjusted earnings of $4.58 per share, well above $1.88 per share in the year-ago quarter.
In addition, revenue for the quarter climbed 64.5 percent on a year-over-year basis to $329.7 million. Analysts were expecting Atkore Inc. (NYSE:ATKR) to post earnings of $3.56 per share on revenue of $768.52 million.
Revenue from the electrical segment soared 65.7 percent to $641.7 million, primarily driven by a rise in the average selling prices. In comparison, safety & infrastructure revenue jumped 60.7 percent versus last year to $75.7 million.
Atkore Inc. (NYSE:ATKR) also issued the financial outlook for its fiscal year 2022. It expects adjusted earnings in the range of $12.80 – $13.60 per share and revenue growth in the mid-single digit percentage for the full year.
Like Atkore Inc. (NYSE:ATKR), Exxon Mobil Corporation (NYSE:XOM), United Parcel Service, Inc. (NYSE:UPS) and Stanley Black & Decker, Inc. (NYSE:SWK), also came into the spotlight after releasing their financial results.
6. L3Harris Technologies, Inc. (NYSE:LHX)
Number of Hedge Fund Holders: 29
L3Harris Technologies, Inc. (NYSE:LHX) recently announced a better-than-expected profit for the fourth quarter. However, its sales fell short of expectations, sending its shares down more than four percent on Monday, January 31, 2022.
The Florida-based tech company earned $3.30 per share, up 5 percent versus last year and above the consensus estimate of $3.26 per share. In addition, L3Harris Technologies, Inc. (NYSE:LHX) posted revenue of $4.35 billion, down seven percent on a year-over-year basis and below analysts’ average estimate of $4.49 billion.
Looking at the performance of different business units, revenue from the integrated mission systems segment increased six percent to $1.56 billion, while revenue from the space and airborne systems segment inched up two percent to $1.29 billion in the quarter. On the downside, aviation systems revenue plummeted 37 percent to $535 million and communication systems revenue fell 11 percent to $1.02 billion.
L3Harris Technologies, Inc. (NYSE:LHX) also released its financial outlook for 2022. The company expects adjusted earnings in the range of $13.35 – $13.65 per share and revenue between $17.3 – $17.7 billion.
Discussing the results, CEO Christopher Kubasik said:
“The L3Harris team delivered solid EPS growth, consistent with expectations, despite supply chain headwinds and budget uncertainty. In 2022, we look forward to taking the next step as the industry’s trusted disruptor to deliver innovative and affordable solutions, and with a focus on creating value over the long term.”
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Disclosure: None. 10 Quarterly Reports You Don’t Want to Miss is originally published on Insider Monkey.
