In this article, we are going to take a look at the 10 stocks that just delivered impressive quarterly earnings. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks that Just Delivered Impressive Quarterly Earnings.
The strong earnings season continues this week, with major U.S. stocks including DISH Network Corp (NASDAQ: DISH), BioNTech SE (NASDAQ: BNTX), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN), and TransDigm Group (NYSE: TDG), reporting solid financial results.
However, some companies have issued muted financial outlook due to uncertainty created by the rapidly spreading Delta variant. Moreover, few analysts have warned that the spread of new Covid-19 variants can affect the overall economic recovery.
Nevertheless, investors are pleased with the impressive earning reports released by U.S. stocks. We have compiled a list of 10 stocks that exceeded analysts’ expectations for their latest quarters.
Photo by Austin Distel on Unsplash
With this context in mind, let’s now discuss our list of the 10 stocks that just delivered impressive quarterly earnings.
10 Stocks that Just Delivered Impressive Quarterly Earnings
10. TEGNA Inc. (NYSE: TGNA)
Number of Hedge Fund Holders: 20
Digital media company TEGNA Inc. (NYSE: TGNA) recently posted better-than-expected financial results for the second quarter, mainly driven by record subscription revenue. The company reported earnings of 48 cents per share for the three months ended June 30, well above 9 cents per share in the comparable period of 2020.
Excluding certain items, TEGNA Inc. (NYSE: TGNA) earned 50 cents per share on an adjusted basis, matching the consensus forecast. Revenue for the quarter jumped 27 percent on a year-over-year basis to $732.9 million, beating analysts’ average estimate of $731.4 million.
If we look at the performance of key segments, subscription revenue increased 16 percent to $375 million, while revenue from advertising and marketing services soared 49 percent to $341 million.
CEO Dave Lougee praised the results saying, “TEGNA’s consistent execution of our long-term strategy resulted in another quarter of record performance, supported by the underlying strength of our subscription business, growing and accelerating advertising and marketing services revenue, as well as our disciplined expense management.”
TEGNA Inc. (NYSE: TGNA) also issued sales guidance for the third quarter. The company expects its revenue to grow in the range of low-single digits percentage. In addition, operating expenses are expected to increase in the mid-to-high single digits percentage range on an adjusted basis.
9. 3D Systems Corporation (NYSE: DDD)
Number of Hedge Fund Holders: 16
Shares of 3D Systems Corporation (NYSE: DDD) jumped more than 21 percent on Tuesday after delivering another solid quarter. The company reported earnings of 12 cents per share for the second quarter ended June 30, mainly driven by elevated demand from healthcare and industrial clients. In comparison, 3D Systems Corporation (NYSE: DDD) had reported a loss of 13 cents per share in the second quarter of 2020.
Revenue for the quarter jumped 44 percent on a year-over-year basis to $162.6 million. The results easily surpassed the consensus forecast of 5 cents per share for earnings and $143.3 million for revenue.
3D Systems Corporation (NYSE: DDD) enjoyed growth across its key business units. Healthcare revenue climbed 69 percent to $82.8 million, while revenue from industrial sales rose 25.3 percent to $79.7 million.
Like DISH Network Corp (NASDAQ: DISH), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), 3D Systems Corporation (NYSE: DDD) is gaining investors’ attention after posting upbeat quarterly results.
Speaking on the results, CEO Jeffrey Graves said:
“Our second quarter performance reflected continued positive momentum, with results that greatly surpassed those of a year ago from both a revenue and profitability perspective. Perhaps even more importantly, we also saw double-digit revenue growth on a consecutive quarter basis, an important indicator of the momentum we are now experiencing.”
8. BioNTech SE (NASDAQ: BNTX)
Number of Hedge Fund Holders: 18
BioNTech SE (NASDAQ: BNTX) has been around for nearly 13 years now. It was founded by two scientists named Ugur Sahin and Özlem Türeci with the vision of developing individualized cancer immunotherapy. BioNTech SE (NASDAQ: BNTX) finally came into the spotlight in 2020 after joining hands with Pfizer to develop a vaccine against Covid-19.
The collaboration turned out fruitful after their vaccine, called BNT162b2, received emergency use authorization. BioNTech SE (NASDAQ: BNTX) stock has gained massive value since the approval of BNT162b2. The company’s shares recently made a new 52-week high of $464 after announcing record results for the second quarter, mainly helped by solid demand for its Covid-19 vaccine.
BioNTech SE (NASDAQ: BNTX) reported earnings of 2.79 billion euros for the three months ended June 30, compared to a loss of 88 million euros in the same period last year. Revenue for the quarter came in at 5.31 billion euros, significantly higher than just 41.7 million euros in the year-ago period.
The company said that it has supplied over one billion doses of its vaccine so far. Overall, BioNTech SE (NASDAQ: BNTX) has signed deals for supplying more than 2.2 billion vaccine doses in 2021 and around one billion in the next year.
Like DISH Network Corp (NASDAQ: DISH), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), BioNTech SE (NASDAQ: BNTX) is gaining investors’ attention after posting upbeat quarterly results.
7. Scientific Games Corporation (NASDAQ: SGMS)
Number of Hedge Fund Holders: 23
Gaming and entertainment company Scientific Games Corporation (NASDAQ: SGMS) recently announced better-than-expected results for the second quarter ended June 30. Scientific Games Corporation (NASDAQ: SGMS) reported earnings of $1.10 per share, crushing the consensus forecast of 9 cents per share. In comparison, Scientific Games Corporation (NASDAQ: SGMS) had reported a loss of $2.15 per share in the same period of 2020. Back then, the results were mainly hurt by disruptions caused by the pandemic.
Revenue for the quarter soared 63 percent on a year-over-year basis to $880 million, well ahead of $765 million estimated by analysts. The surge in revenue was mainly attributed to strong growth across all key segments of the company. For instance, revenue from both lottery and digital units climbed 27 percent, while overall gaming business grew more than 300 percent on a year-over-year basis.
Like DISH Network Corp (NASDAQ: DISH), BioNTech SE (NASDAQ: BNTX), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), Scientific Games Corporation (NASDAQ: SGMS) is gaining investors’ attention after posting upbeat quarterly results.
Commenting on the quarter, CEO Barry Cottle said:
“I am very pleased that we continue to make tremendous progress on all of our key strategic pillars while also driving significant growth in the quarter. We have emerged from the pandemic a much stronger Company with significant momentum. All of our businesses grew sequentially on both the top and bottom lines in the quarter. Gaming delivered its highest revenue quarter since the fourth quarter of 2019, Lottery and Digital achieved record results and SciPlay delivered its second highest revenue quarter in its history.”
6. US Foods Holding Corp. (NYSE: USFD)
Number of Hedge Fund Holders: 40
More and more people have started eating out since the mass availability of the Covid-19 vaccine. The trend helped US Foods Holding Corp. (NYSE: USFD) announce solid financial results for the second quarter. The leading foodservice distributor reported earnings of 20 cents per share for the three months ended July, marking a significant recovery from a loss of 44 cents per share in the year-ago quarter.
Excluding one-time items, US Foods Holding Corp. (NYSE: USFD) earned 58 cents per share on an adjusted basis, well ahead of the consensus forecast of 34 cents per share. In addition, revenue for the quarter climbed 68 percent to $7.7 billion, easily beating analysts’ average estimate of $6.94 billion.
Like DISH Network Corp (NASDAQ: DISH), BioNTech SE (NASDAQ: BNTX), Berkshire Hathaway Inc. (NYSE: BRK-B), Tyson Foods (NYSE: TSN) and TransDigm Group (NYSE: TDG), US Foods Holding Corp. (NYSE: USFD) is gaining investors’ attention after posting upbeat quarterly results.
CEO Pietro Satriano expressed his satisfaction with the results. Satriano said in a statement:
“As markets around the United States reopen without restrictions, we have seen strong demand for our products, services and consultative expertise. While supply chain labor is expected to remain challenging for the next few quarters, we remain focused on delivering profitable growth as our industry continues to recover.”
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Disclosure: None. 10 Stocks that Just Delivered Impressive Quarterly Earnings is originally published on Insider Monkey.
