In this article, we will take a look at the 10 stocks making headlines following earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Making Headlines Following Earnings Reports.
Stocks from the communication services, consumer cyclical and healthcare sectors, including Snap Inc. (NYSE:SNAP), Amazon.com, Inc. (NASDAQ:AMZN), Bristol-Myers Squibb Company (NYSE:BMY) and Merck & Co., Inc. (NYSE:MRK), announced their financial results for the fourth quarter recently.
Amazon’s stock rose over 13 percent despite posting a lower-than-expected Q4 revenue. In addition, shares of Snap and Bristol-Myers Squibb also closed higher following their upbeat quarterly profit. On the other hand, Merck & Co stock fell even after topping Q4 expectations.
Several other companies, including Unity Software Inc. (NYSE:U), Honeywell International Inc. (NASDAQ:HON) and Ford Motor Company (NYSE:F), also recently posted their quarterly results.
Source:Pixabay
Now, let’s have a look at the detailed performance of these companies.
Stocks Making Headlines Following Earnings Reports
10. The Hershey Company (NYSE:HSY)
Number of Hedge Fund Holders: 33
Shares of The Hershey Company (NYSE:HSY) hit a new 52-week high of $206.16 on Thursday, February 3, 2022, after beating profit and sales expectations for the fourth quarter. The Pennsylvania-based chocolate manufacturer reported adjusted earnings of $1.69 per share, up 13.4 percent from the year-ago period.
In addition, The Hershey Company (NYSE:HSY) posted sales of $2.326 billion, compared to $2.185 billion for the fourth quarter of 2020. The results surpassed analysts’ average estimate of $1.61 per share for earnings and $2.266 billion for revenue.
For the current fiscal year, The Hershey Company (NYSE:HSY) expects adjusted EPS growth in the range of 9 – 11 percent and revenue growth between 8 – 10 percent.
Speaking on the results, CEO Michele Buck said in a statement:
“In 2021, we delivered a record year of production and double-digit sales and earnings growth, with a strong finish and momentum heading into 2022. While the environment remains volatile, we are confident in our ability to continue to respond to the changes in the world around us and deliver another year of advantaged performance in 2022.”
9. Unity Software Inc. (NYSE:U)
Number of Hedge Fund Holders: 36
Shares of Unity Software Inc. (NYSE:U) climbed over 17 percent on Thursday, January 4, 2022, after posting a narrower-than-expected loss for the fourth quarter. The developer of video game software reported an adjusted loss of 5 cents per share, compared to the consensus forecast for a loss of 7 cents per share.
Revenue for the quarter climbed 43 percent on a year-over-year basis to $315.9 million, beating expectations of $295.5 million. Unity Software Inc. (NYSE:U) also reported its segment-wise sales performance. Revenue from the create solutions segment soared 49 percent to $99.9 million, while operate solutions revenue jumped 45 percent to $194.6 million. In comparison, strategic partnerships and other revenue rose 12 percent versus last year to $21.3 million.
In addition, Unity Software Inc. (NYSE:U) released its sales outlook for the first quarter and full year. The company projected revenue in the range of $315 – $320 million for the current quarter and between $1.49 – $1.51 billion for the full year.
Like Unity Software Inc. (NYSE:U), investors are also closely watching Snap Inc. (NYSE:SNAP), Amazon.com, Inc. (NASDAQ:AMZN) and Bristol-Myers Squibb Company (NYSE:BMY), following their Q4 results.
8. Honeywell International Inc. (NASDAQ:HON)
Number of Hedge Fund Holders: 45
Shares of Honeywell International Inc. (NASDAQ:HON) recently hit a new 52-week low of $188.03 after posting disappointing sales numbers for the fourth quarter. The company blamed logistic hurdles and lower demand for its masks for weak sales.
Honeywell International Inc. (NASDAQ:HON) generated revenue of $8.66 billion, down 3 percent versus last year and below expectations of $8.73 billion. On the bright side, the adjusted earnings of $2.09 per share surpassed the consensus forecast of $2.08 per share.
Looking forward, Honeywell International Inc. (NASDAQ:HON) expects revenue in the range of $35.4 billion to $36.4 billion for the current fiscal year, representing an organic growth between 4 – 7 percent over last year. However, the outlook is below analysts’ average estimate of $36.73 billion.
7. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders: 51
Shares of Ford Motor Company (NYSE:F) fell to a nearly three-month low on Friday, February 4, 2022, after announcing lower-than-expected financial results for the fourth quarter. The Detroit-based automaker earned 26 cents per share on an adjusted basis, well below the consensus forecast of 45 cents per share.
Revenue for the quarter rose 5 percent versus last year to $37.7 billion, while analysts were expecting Ford Motor Company (NYSE:F) to generate revenue of $41.2 billion. In addition, the company reported that it had over $36 billion in cash at the end of the fourth quarter.
Looking forward, Ford Motor Company (NYSE:F) expects adjusted pretax earnings in the range of $11.5 billion and $12.5 billion, translating to a surge between 15 – 25 percent over last year.
Like Ford Motor Company (NYSE:F), Snap Inc. (NYSE:SNAP), Amazon.com, Inc. (NASDAQ:AMZN) and Bristol-Myers Squibb Company (NYSE:BMY) also came into the spotlight after releasing their earnings reports.
6. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 62
Eli Lilly and Company (NYSE:LLY) recently announced its fourth-quarter profit and sales above expectations. The results were mainly driven by strong demand for its diabetes medicine Trulicity and coronavirus antibody therapies.
The Indiana-based pharmaceutical giant posted adjusted earnings of $2.49 per share, up 8 percent versus last year and above the consensus of $2.19 per share. Revenue for the quarter also rose 8 percent on a year-over-year basis to $7.9 billion, topping estimates of $6.90 billion.
Eli Lilly and Company (NYSE:LLY) also released the sales numbers of its top-performing treatments. Its flagship drug Trulicity generated revenue of $1.88 billion, up 25.4 percent from the year-ago quarter. In comparison, revenue from COVID-19 antibodies jumped 22 percent to $1.06 billion. Analysts were expecting Trulicity and COVID-19 antibodies to bring in revenue of $1.80 billion and $691.0 million, respectively.
The company also issued its financial outlook for 2022. Eli Lilly and Company (NYSE:LLY) expects adjusted earnings in the range of $8.50 – $8.65 per share and revenue between $27.8 – $28.3 billion for the current fiscal year. The outlook is better than analysts’ average estimate of $7.54 per share for earnings and $24.88 billion for revenue.
Shares of Eli Lilly and Company (NYSE:LLY) fell for two straight days despite its better-than-expected Q4 performance and 2022 outlook.
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Disclosure: None. 10 Stocks Making Headlines Following Earnings Reports is originally published on Insider Monkey
