In this article, we will take a look at the 11 companies drawing attention following earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Companies Drawing Attention Following Earnings Reports.
Notable stocks from the technology and consumer cyclical sectors, including DocuSign, Inc. (NASDAQ:DOCU), Stitch Fix, Inc. (NASDAQ:SFIX) and Vail Resorts, Inc. (NYSE:MTN), were spotted making big moves after releasing their earnings reports.
Shares of DocuSign and Stitch Fix fell sharply in the pre-market trading Friday, June 10, after missing profit expectations for their respective quarters. On the other hand, Vail Resorts stock turned green on better-than-expected results.
In addition, spirits and wine producer Brown-Forman Corporation (NYSE:BF-B) and specialty discount stores operator Five Below, Inc. (NASDAQ:FIVE) also came into the spotlight after posting their financial results.
11. Couchbase, Inc. (NASDAQ:BASE)
Number of Hedge Fund Holders: 8
Shares of Couchbase, Inc. (NASDAQ:BASE) jumped over 13 percent on Thursday, June 9, 2022, after announcing better-than-expected financial results for its fiscal first quarter. The software company reported an adjusted loss of 32 cents per share, narrower than analysts’ average estimate for a loss of 39 cents per share.
Revenue for the quarter jumped 25 percent on a year-over-year basis to $34.9 million, beating expectations of $32.61 million. Subscription revenue rose 21 percent to $32 million, accounting for about 92 percent of the total sales.
Looking forward, Couchbase, Inc. (NASDAQ:BASE) expects to generate revenue in the range of $35.8 – $36 million for the current quarter and between $147.2 – $148.2 million for its fiscal year 2023.
Speaking on the results, CEO Matt Cain said in a statement:
“Couchbase Capella is continuing to gain momentum and customer feedback has been positive. We are confident that our expansive and differentiated product portfolio will continue to be at the forefront of our customers’ digital transformation initiatives.”
10. American Software, Inc. (NASDAQ:AMSWA)
Number of Hedge Fund Holders: 11
Shares of American Software, Inc. (NASDAQ:AMSWA) fell over eight percent on Thursday, June 9, 2022, despite beating profit and sales expectations for its fiscal fourth quarter. The Georgia-based software outsourcing company reported adjusted earnings of 13 cents per share, up from 11 cents per share in the comparable period of 2021.
Revenue for the quarter increased to $34.6 million, from $28.6 million in the year-ago period. Analysts were expecting American Software, Inc. (NASDAQ:AMSWA) to post earnings of 8 cents per share on revenue of $31.30 million.
American Software, Inc. (NASDAQ:AMSWA) also released the sales outlook for its fiscal year 2023. The company guided for revenue between $132.5 – $135.0 million for the full year.
Like American Software, Inc. (NASDAQ:AMSWA), investors are also closely watching DocuSign, Inc. (NASDAQ:DOCU), Stitch Fix, Inc. (NASDAQ:SFIX) and Vail Resorts, Inc. (NYSE:MTN) following their earnings reports.
9. Oxford Industries, Inc. (NYSE:OXM)
Number of Hedge Fund Holders: 15
Oxford Industries, Inc. (NYSE:OXM) recently delivered an impressive financial performance for its fiscal first quarter, sending its shares up nearly five percent on Thursday, June 9, 2022. The Georgia-based clothing retailer earned $3.50 per share on an adjusted basis, significantly higher than $1.89 per share in the year-ago period.
In addition, Oxford Industries, Inc. (NYSE:OXM) posted revenue of $352.6 million, up 33 percent on a year-over-year basis. The results easily exceeded the consensus of $2.75 per share for earnings and $329.02 million for revenue.
Looking forward, Oxford Industries, Inc. (NYSE:OXM) raised its fiscal 2022 adjusted earnings outlook to a range of $9.60 – $10 per share, from its previous projection of $8.75 – $9.15 per share. The revised guidance is better than the consensus of $8.86 per share.
8. ABM Industries Incorporated (NYSE:ABM)
Number of Hedge Fund Holders: 16
Shares of ABM Industries Incorporated (NYSE:ABM) recently fell to a nearly four-month low even after announcing better-than-expected results for its fiscal second quarter. The San Francisco-based facility solutions provider reported adjusted earnings of 89 cents per share, up from 82 cents per share in the same period last year.
Revenue for the quarter climbed 26.7 percent versus last year to $1.9 billion. Analysts were expecting ABM Industries Incorporated (NYSE:ABM) to post earnings of 84 cents per share on revenue of $1.88 billion.
Among other updates, ABM Industries Incorporated (NYSE:ABM) reported that it repurchased $30 million worth of its common stock during the quarter. Moreover, the company also announced a quarterly dividend of $0.195 per share.
For its fiscal year 2022, ABM Industries Incorporated (NYSE:ABM) continues to expect adjusted earnings in the range of $3.50 – $3.70 per share, in line with the consensus of $3.62 per share.
7. FuelCell Energy, Inc. (NASDAQ:FCEL)
Number of Hedge Fund Holders: 16
Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) fell nearly seven percent on Thursday, June 9, 2022, after the maker of hydrogen fuel cells missed financial expectations for its fiscal second quarter.
FuelCell Energy, Inc. (NASDAQ:FCEL) reported a loss of 8 cents per share, wider than the loss of 6 cents per share in the year-ago period. Revenue for the quarter increased 17 percent on a year-over-year basis to $16.38 million. However, the results were worse than analysts’ average estimate for a loss of 5 cents per share on revenue of $32.58 million.
FuelCell Energy, Inc. (NASDAQ:FCEL) also disclosed its segment-wise sales results. Its generation revenue climbed 46 percent to $9.1 million, while service agreements revenue skyrocketed 300 percent to $2.6 million in the quarter. On the downside, advanced technologies revenue fell 34 percent to $4.7 million.
Like FuelCell Energy, Inc. (NASDAQ:FCEL), DocuSign, Inc. (NASDAQ:DOCU), Stitch Fix, Inc. (NASDAQ:SFIX) and Vail Resorts, Inc. (NYSE:MTN) also came into the limelight following their earnings reports.
6. Skillsoft Corp. (NYSE:SKIL)
Number of Hedge Fund Holders: 25
Skillsoft Corp. (NYSE:SKIL) is engaged in offering learning solutions to businesses and government institutes in the U.S. and international markets. Its learning management system help organizations prepare their workforce to overcome critical skill gaps.
Shares of Skillsoft Corp. (NYSE:SKIL) plummeted over 19 percent on Thursday, June 9, following a mixed financial performance for its fiscal first quarter. The New Hampshire-based educational technology company reported a loss of 15 cents per share, narrower than analysts’ average estimate for a loss of 17 cents per share. However, the quarterly revenue of $163.91 million missed the consensus of $170.41 million.
Skillsoft Corp. (NYSE:SKIL) also released its sales outlook for the full year. It expects adjusted revenue between $765 – $790 million for its fiscal year 2023. This compares to analysts’ average estimate of $773.57 million.
Commenting on the quarter, CEO Jeffery Tarr said in a statement:
“We reported Q1 results above expectations due to strong Skillsoft Content Segment bookings growth of 22%. I’m pleased that we’ve delivered four consecutive quarters of adjusted revenue growth since returning the Company to public markets a year ago. We also recently completed the first phase of the technical integration of Codecademy into Percipio – our immersive, AI driven learning platform – and are encouraged by our early sales pipeline success.”
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Disclosure: None. 11 Companies Drawing Attention Following Earnings Reports is originally published on Insider Monkey.
