In this article, we will take a look at the 10 stocks garnering attention after releasing their earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Garnering Attention After Releasing Their Earnings Reports.
Companies from the technology and consumer cyclical sectors, including Adobe Inc. (NASDAQ:ADBE), Pinduoduo Inc. (NASDAQ:PDD) and NIKE, Inc. (NYSE:NKE), recently posted financial results for their respective quarters.
If we look at their share-price movement, Pinduoduo and NIKE gained value following their upbeat financial performance, while Adobe stock turned red after issuing a weak outlook for its fiscal second quarter.
Several other stocks, including cruise operator Carnival Corporation & plc (NYSE:CCL) and corporate identity uniforms provider Cintas Corporation (NASDAQ:CTAS), also came into the limelight after posting their quarterly reports.
Source:Pixabay
Stocks Garnering Attention After Releasing Their Earnings Reports
10. Worthington Industries, Inc. (NYSE:WOR)
Number of Hedge Fund Holders: 13
Shares of Worthington Industries, Inc. (NYSE:WOR) fell nearly six percent in the after-hours trading session on Tuesday, March 22, 2022, after missing profit expectations for its fiscal third quarter.
Worthington Industries, Inc. (NYSE:WOR) reported adjusted earnings of $1.13 per share, down from $1.36 per share in the year-ago period and well below the consensus of $1.37 per share.
On the bright side, revenue for the quarter climbed 82 percent on a year-over-year basis to $1.38 billion and exceeded expectations of $1.29 billion. The surge was mainly driven by higher selling prices across its key business units.
Worthington Industries, Inc. (NYSE:WOR) also issued its segment-wise sales performance. Building products’ revenue increased 38 percent to $132.9 million, while Consumer Products’ revenue jumped 41 percent to $161.7 million in the quarter. In comparison, revenue from Steel Processing increased to $1.1 billion, accounting for nearly 80 percent of the total sales.
Discussing the results, CEO Andy Rose said in a statement:
“Steel Processing faced headwinds due to continued steel pricing volatility and choppy but improving automotive demand. Building Products improved across the board with increased contributions from ClarkDietrich and our wholly owned businesses, while Consumer Products benefitted from robust demand and improved margins.”
9. HireRight Holdings Corporation (NYSE:HRT)
Number of Hedge Fund Holders: 16
Shares of HireRight Holdings Corporation (NYSE:HRT) recently climbed to a nearly three-month high after delivering solid profit and sales for the fourth quarter. The Tennessee-based company earned 32 cents per share on an adjusted basis, significantly higher than 6 cents per share in the fourth quarter of 2020.
In addition, HireRight Holdings Corporation (NYSE:HRT) posted revenue of $198.5 million, up 32.3 percent on a year-over-year basis. The results easily surpassed analysts’ average estimate of 7 cents per share for earnings and $183.35 million for revenue.
Looking forward, HireRight Holdings Corporation (NYSE:HRT) guided for earnings in the range of $1.32 – $1.45 per share and revenue between $805 – $820 million for the current fiscal year.
Like HireRight Holdings Corporation (NYSE:HRT), investors are also monitoring Adobe Inc. (NASDAQ:ADBE), Pinduoduo Inc. (NASDAQ:PDD) and NIKE, Inc. (NYSE:NKE), following their financial results.
8. AAR Corp. (NYSE:AIR)
Number of Hedge Fund Holders: 19
Shares of AAR Corp. (NYSE:AIR) marginally moved down in the after-market trading session on Tuesday, March 22, 2022, despite announcing better-than-expected financial results for its fiscal third quarter.
AAR Corp. (NYSE:AIR) reported adjusted earnings of 63 cents per share, compared to 37 cents per share in the same period last year. Analysts were looking for earnings of 58 cents per share.
Revenue for the quarter came in at $452.2 million, compared to $410.3 million in the year-ago period and above the consensus of $432.5 million. If we look at the performance of flagship segments of AAR Corp. (NYSE:AIR), consolidated revenue from commercial customers increased 28 percent, helped by a rebound in the commercial market. On the downside, revenue from government customers fell 8 percent on a year-over-year basis.
Speaking on the results, CEO John Holmes said in a statement:
“Early in the pandemic, we took a series of actions to better position the Company for margin improvement as the industry recovered. We have now delivered our sixth straight quarter of adjusted operating margin expansion and our margins are exceeding pre-pandemic levels.”
7. Poshmark, Inc. (NASDAQ:POSH)
Number of Hedge Fund Holders: 20
Shares of Poshmark, Inc. (NASDAQ:POSH) dropped over 10 percent in the pre-market trading session on Wednesday, March 23, 2022, after posting a wider-than-expected loss for the fourth quarter.
Poshmark, Inc. (NASDAQ:POSH) reported a loss of 19 cents per share, narrower than the loss of 25 cents per share in the comparable period of 2020. However, it was slightly higher than analysts’ average estimate for a loss of 18 cents per share.
Nevertheless, the quarterly revenue of $84.2 million was up 22 percent on a year-over-year basis and above expectations of $80.59 million. In addition, its gross merchandise volume for the quarter jumped 27 percent versus last year to $490.8 million.
Poshmark, Inc. (NASDAQ:POSH) also released its sales outlook for the first quarter. It expects to generate revenue in the range of $86 – $88 million for the current quarter.
Like Poshmark, Inc. (NASDAQ:POSH), Adobe Inc. (NASDAQ:ADBE), Pinduoduo Inc. (NASDAQ:PDD) and NIKE, Inc. (NYSE:NKE) also came into the spotlight after posting their financial results.
6. HealthEquity, Inc. (NASDAQ:HQY)
Number of Hedge Fund Holders: 20
Shares of HealthEquity, Inc. (NASDAQ:HQY) turned green in the pre-market trading session on Wednesday, March 23, 2022, despite mixed financial performance for its fiscal fourth quarter.
HealthEquity, Inc. (NASDAQ:HQY) earned 20 cents per share on an adjusted basis, down from 44 cents per share in the year-ago quarter and behind the consensus of 22 cents. On the positive side, revenue for the quarter increased 8 percent on a year-over-year basis to $203.3 million, beating expectations of $200.07 million.
Moving forward, HealthEquity, Inc. (NASDAQ:HQY) expects adjusted earnings in the range of $1.21 – $1.30 per share and revenue between $820 – $830 million for its current fiscal year ending January 31, 2023.
Discussing the results, CEO Jon Kessler said in a statement:
“With record HSA and asset growth in fiscal 2022, pandemic headwinds beginning to subside, and the emergence of potential tailwinds, we believe we are well-positioned for continued growth in fiscal 2023.”
Click to continue reading and see 5 Stocks Garnering Attention After Releasing Their Earnings Reports.
Suggested articles:
- 10 Best Roth IRA Stocks To Buy in 2022
- 10 Undervalued Defense and Military Stocks to Buy Now
- 10 Best High Dividend Stocks to Buy Now
Disclosure: None. 10 Stocks Garnering Attention After Releasing Their Earnings Reports is originally published on Insider Monkey.
