In this article, we will take a look at the 10 stocks on investors’ radar after posting their financial results. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks On Investors’ Radar After Posting Their Financial Results.
Notable stocks from technology, industrials, and consumer cyclical sectors, including Adobe Inc. (NASDAQ:ADBE), The Toro Company (NYSE:TTC), HEICO Corporation (NYSE:HEI), FedEx Corporation (NYSE:FDX), and Lennar Corporation (NYSE:LEN) announced their financial results earlier this week.
Adobe stock fell over 10 percent after offering a weak financial outlook, while Lennar stock slipped around four percent after announcing weak earnings. On the other hand, FedEx stock rose more than six percent in the pre-market trading session on December 17 after beating expectations for its fiscal second quarter.
We will review the detailed performance of these companies in the remaining article. Therefore, let’s start our list of 10 stocks on investors’ radar after posting their financial results.
Source:Pixabay
Stocks on Investors’ Radar After Posting Their Financial Results
10. Steelcase Inc. (NYSE:SCS)
Number of Hedge Fund Holders: 12
Shares of Steelcase Inc. (NYSE:SCS) slipped nearly four percent in the after-hours trading session on Thursday, December 16, 2021, after announcing lower-than-expected financial results for its fiscal third quarter.
Steelcase Inc. (NYSE:SCS) reported earnings of 8 cents per share, slightly shy of analysts’ average estimate of 9 cents per share. The quarterly revenue of $738.2 million also came in below expectations of $767.6 million. On the bright side, total orders in the quarter increased 40 percent versus last year, helped by strength in the Asia Pacific region.
The Michigan-based furniture company also issued its sales outlook for the current quarter. Steelcase Inc. (NYSE:SCS) expects revenue in the range of $740 – $765 million for its fiscal fourth quarter, compared to revenue of $677.1 million it posted for the same period last year.
Speaking on the results, CEO of Steelcase Inc. (NYSE:SCS), Sara Armbruster, said in a statement:
“Like many other industries, we continue to be impacted by a significant number of supply chain disruptions causing us to extend lead times and delay some shipments, which negatively impacted our third quarter revenue more than we had anticipated.”
9. Worthington Industries, Inc. (NYSE:WOR)
Number of Hedge Fund Holders: 14
Worthington Industries, Inc. (NYSE:WOR) is a leading manufacturer of steel. The company, based in Ohio, serves a range of industries, including agriculture, construction and automotive. Worthington recently announced mixed results for its fiscal second quarter.
The company reported earnings of $2.15 per share, compared to a loss of $1.40 per share in the year-ago period. Revenue for the quarter jumped 69 percent versus last year to $1.2 billion. Analysts were expecting Worthington Industries, Inc. (NYSE:WOR) to post earnings of $1.72 per share on revenue of $1.25 billion.
Worthington Industries, Inc. (NYSE:WOR) also offered its segment-wise sales performance for the quarter. Steel processing revenue increased nearly two-fold to $937.8 million, consumer products’ revenue rose 20 percent to $140.8 million, and building products’ revenue jumped 29 percent to $121.1 million. On the downside, revenue from sustainable energy solutions slipped three percent to $33.1 million.
Like Worthington Industries, Inc. (NYSE:WOR), Adobe Inc. (NASDAQ:ADBE), The Toro Company (NYSE:TTC), HEICO Corporation (NYSE:HEI), FedEx Corporation (NYSE:FDX) and Lennar Corporation (NYSE:LEN) also caught investors’ attention after releasing their financial results.
8. ABM Industries Incorporated (NYSE:ABM)
Number of Hedge Fund Holders: 19
Shares of ABM Industries Incorporated (NYSE:ABM) fell more than 11 percent on Wednesday, December 15, 2021, despite beating profit and sales expectations for its fiscal fourth quarter.
ABM Industries Incorporated (NYSE:ABM) earned 85 cents per share on an adjusted basis, up from 69 cents per share in the comparable period of 2020. Revenue for the quarter rose 14.2 percent versus last year to $1.7 billion. The results easily surpassed the consensus forecast of 80 cents per share for earnings and $1.64 billion for revenue.
The company also issued the profit outlook for its fiscal year 2022. ABM Industries Incorporated (NYSE:ABM) expects adjusted earnings in the range of $3.30 – $3.55 per share, compared to analysts’ average estimate of $3.45 per share.
7. Jabil Inc. (NYSE:JBL)
Number of Hedge Fund Holders: 27
Shares of Jabil Inc. (NYSE:JBL) made a new 52-week high of $66.50 on Thursday, December 16, 2021, after beating profit and sales expectations for its fiscal first quarter. The manufacturing services company reported adjusted earnings of $1.92 per share, ahead of the consensus forecast of $1.80 per share.
In addition, Jabil Inc. (NYSE:JBL) posted revenue of $8.6 billion, surpassing expectations of $8.3 billion. If we look at the performance of its flagship segments, revenue from the diversified manufacturing services jumped 11 percent in the quarter. In comparison, revenue from the electronics manufacturing services rose 7 percent on a year-over-year basis.
Looking forward, Jabil Inc. (NYSE:JBL) expects adjusted earnings in the range of $1.35 – $1.55 per share and revenue between $7.1 – $7.7 billion for its fiscal second quarter. The guidance matched the consensus forecast of $1.43 per share for earnings and $7.4 billion for revenue.
Like Jabil Inc. (NYSE:JBL), investors are also closely watching Adobe Inc. (NASDAQ:ADBE), The Toro Company (NYSE:TTC), HEICO Corporation (NYSE:HEI), FedEx Corporation (NYSE:FDX) and Lennar Corporation (NYSE:LEN), after their earnings reports.
6. Nordson Corporation (NASDAQ:NDSN)
Number of Hedge Fund Holders: 29
Shares of Nordson Corporation (NASDAQ:NDSN) fell to a nearly two-month low after posting lower-than-expected financial results for its fiscal fourth quarter. The manufacturer of dispensing equipment reported earnings of $1.88 per share, significantly higher than 31 cents per share in the year-ago quarter.
Revenue came in at $599 million, translating to a surge of seven percent on a year-over-year basis. Analysts were expecting Nordson Corporation (NASDAQ:NDSN) to post earnings of $2.10 per share on revenue of $617.4 million.
Looking at the performance of its flagship businesses, revenue from the industrial precision solutions inched up two percent to $314 million. In comparison, revenue from the advanced technology solutions climbed 14 percent to $285 million in the quarter.
Nordson Corporation (NASDAQ:NDSN) also released the revenue outlook for its fiscal first quarter and full year. The company expects its current-quarter revenue to grow in the range of 14 – 16 percent. For FY 2022, it projected revenue growth of 6 – 10 percent on a year-over-year basis.
Speaking on the results, CFO of Nordson Corporation (NASDAQ:NDSN), Joseph Kelley, said:
“Our fourth quarter 2021 performance was very strong with double digit organic growth and incremental operating profit margins of 52%. Looking sequentially, gross margins were impacted by a spike in logistics costs and non-recurring cost increases associated with divisional alignment efforts around best growth opportunities. Pricing actions are being taken to mitigate these negative impacts on gross margin as we move into the first half of 2022.”
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Disclosure: None. 10 Stocks On Investors’ Radar After Posting Their Financial Results is originally published on Insider Monkey.
