In this article, we will take a look at the 10 stocks making moves on quarterly results. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks Making Moves on Quarterly Results.
The third-quarter earnings season will officially begin next week. However, some companies are still releasing their financial results according to their fiscal calendar. Stocks from consumer cyclical, consumer defensive, and industrial sectors recently came up with their quarterly results.
Levi Strauss & Co. (NYSE:LEVI), Acuity Brands, Inc. (NYSE:AYI), Lamb Weston Holdings, Inc. (NYSE:LW), Constellation Brands, Inc. (NYSE:STZ), and PepsiCo, Inc. (NASDAQ:PEP) were among the notable stocks that released their earnings reports earlier this week.
Photo by Adam Nowakowski on Unsplash
To discuss the detailed performance of these stocks, let’s start our list of 10 stocks making moves on quarterly results.
10 Stocks Making Moves on Quarterly Results
10. Tilray, Inc. (NASDAQ:TLRY)
Number of Hedge Fund Holders: 17
Shares of Tilray, Inc. (NASDAQ:TLRY) advanced over two percent on Thursday, 7 October 2021, despite posting a wider-than-expected loss for its fiscal first quarter. The Canadian cannabis producer reported a loss of 8 cents per share, compared to a loss of 6 cents per share estimated by analysts.
Revenue came in at $168 million, beating analysts’ average forecast of $172.6 million. Tilray, Inc. (NASDAQ:TLRY) had reported a loss of 9 cents per share on revenue of $117.5 million for the comparable period of 2020.
Speaking on the results, CEO Irwin D. Simon said in a statement:
“Tilray’s first quarter 2022 results affirm that, amid the paradigm shift towards global cannabis legalization, we are unquestionably executing against two key objectives. The first is maximizing near-term profitability through leadership in both higher-margin international medical markets and in Canada, complemented by incremental growth at SweetWater and Manitoba Harvest in the U.S.”
Like Tilray, Inc. (NASDAQ:TLRY), Levi Strauss & Co. (NYSE:LEVI), Acuity Brands, Inc. (NYSE:AYI), Lamb Weston Holdings, Inc. (NYSE:LW), Constellation Brands, Inc. (NYSE:STZ), and PepsiCo, Inc. (NASDAQ:PEP) also came into the limelight after posting their financial results.
9. Helen of Troy Limited (NASDAQ:HELE)
Number of Hedge Fund Holders: 17
Shares of Helen of Troy Limited (NASDAQ:HELE) rose nearly 6 percent on Thursday, 7 October 2021, after beating expectations for its fiscal second quarter. The company reported adjusted earnings of $2.65 per share, compared to $3.77 in the same period last year.
Analysts were expecting Helen of Troy Limited (NASDAQ:HELE) to report earnings of $2.17 per share. Revenue for the quarter slipped 10.5 percent on a year-over-year basis to $475.23 million, ahead of the consensus forecast of $428.16 million.
Helen of Troy Limited (NASDAQ:HELE) also updated the profit outlook for its fiscal year 2022. It expects adjusted earnings in the range of $11.26 – $11.56 per share, up from its previous forecast between $10.46 – $10.97 per share.
8. RPM International Inc. (NYSE:RPM)
Number of Hedge Fund Holders: 22
RPM International Inc. (NYSE:RPM) is a leading producer of paints, sealants, and coatings. The company recently announced its fiscal first-quarter profit and sales above expectations. It reported adjusted earnings of $1.08 per share for the three months ended 31 August 2021, compared to $1.44 per share in the year-ago quarter.
Revenue for the quarter inched up 2.7 percent on a year-over-year basis to $1.65 billion. Analysts were expecting RPM International Inc. (NYSE:RPM) to report earnings of $1.02 per share on revenue of $1.64 billion.
The total quarterly sales were mainly dragged down by the consumer group segment, which generated revenue of $538.4 million in the quarter, down from $641.2 million in the comparable period of 2020. On the bright side, revenue from the construction products group jumped 17.7 percent to $644.4 million, revenue from the performance coatings group rose 9.9 percent to $285.6 million, while revenue from the specialty products group surged 15.2 percent to $182.1 million.
Commenting on the results, CEO Frank Sullivan said in a statement:
“Our Construction Products Group, Performance Coatings Group and Specialty Products Group generated solid sales and adjusted EBIT growth for the fiscal 2022 first quarter. Their performance was particularly impressive given the raw material shortages, supply chain disruptions and inflation all of our segments have experienced and which have resulted in a negative impact on first-quarter sales of approximately $200 million.”
Like RPM International Inc. (NYSE:RPM), Levi Strauss & Co. (NYSE:LEVI), Acuity Brands, Inc. (NYSE:AYI), Lamb Weston Holdings, Inc. (NYSE:LW), Constellation Brands, Inc. (NYSE:STZ), and PepsiCo, Inc. (NASDAQ:PEP) also caught investors’ attention after announcing their quarterly results.
7. Accolade, Inc. (NASDAQ:ACCD)
Number of Hedge Fund Holders: 24
Shares of Accolade, Inc. (NASDAQ:ACCD) fell nearly eight percent in the after-hours trading session on Thursday, 7 October 2021, after announcing a bigger-than-expected loss for its fiscal second quarter. The personalized healthcare company reported a loss of 97 cents per share, wider than the consensus forecast for a loss of 56 cents per share.
Accolade, Inc. (NASDAQ:ACCD) had reported a loss of 47 cents per share in the comparable period of 2020. On the bright side, revenue for the quarter jumped 99 percent on a year-over-year basis to $73.3 million, exceeding analysts’ average estimate of $70.4 million.
CFO Steve Barnes expressed his satisfaction with the results. Barnes said in a statement:
“Our second quarter results demonstrated the consistency and predictability of Accolade’s business. We are beginning to see the positive impact of combining Accolade, 2nd.MD and PlushCare, with the teams operating as one across all areas, especially sales and product development. As we have consistently said previously, we plan to invest in the integration between the three offerings to maintain a superlative member and customer experience.”
Accolade, Inc. (NASDAQ:ACCD) also released the sales outlook for its fiscal third quarter and full year. It expects revenue in the range of $74.5 million – $76.5 million for the current quarter. In comparison, revenue for the full year is expected to come between $303 million – $307 million.
Like Accolade, Inc. (NASDAQ:ACCD), investors are also closely watching Levi Strauss & Co. (NYSE:LEVI), Acuity Brands, Inc. (NYSE:AYI), Lamb Weston Holdings, Inc. (NYSE:LW), Constellation Brands, Inc. (NYSE:STZ), and PepsiCo, Inc. (NASDAQ:PEP) after they released their earnings reports.
6. Conagra Brands, Inc. (NYSE:CAG)
Number of Hedge Fund Holders: 29
Shares of Conagra Brands, Inc. (NYSE:CAG) slipped over two percent in the pre-market trading Friday, 8 October 2021, after announcing the financial results for its fiscal first quarter. The packaged food company reported adjusted earnings of 50 cents per share, down 30 percent from the comparable quarter of 2020.
Revenue slipped one percent on a year-over-year basis to $2.65 billion. Nevertheless, the results came in just above the consensus forecast of 49 cents per share for earnings and $2.54 billion for revenue.
If we compare the performance of key businesses, revenue from the grocery & snacks segment decreased 4.9 percent to $1.1 billion, while revenue from the refrigerated & frozen segment slipped 2.5 percent to $1.1 billion. In comparison, the international segment’s revenue increased 8.1 percent to $237 million, and the foodservice segment’s revenue jumped 20.9 percent to $240 million.
Looking forward, Conagra Brands, Inc. (NYSE:CAG) expects adjusted earnings of approx. $2.50 and net sales growth of about 1 percent for its fiscal year 2022.
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Disclosure: None. 10 Stocks Making Moves on Quarterly Results is originally published on Insider Monkey.
