In this article, we will take a look at the 11 earnings reports you don’t want to miss. You can skip our detailed analysis of these companies and go directly to the 5 Earnings Reports You Don’t Want to Miss.
Notable stocks from the technology, communication services and consumer defensive sectors, including salesforce.com, inc. (NYSE:CRM), Sea Limited (NYSE:SE) and Target Corporation (NYSE:TGT), recently announced financial results for their respective quarters.
If we look at their price actions, Target Corp stock jumped to a nearly one-month high following its upbeat profit, while Sea Limited shares turned red after posting a wider-than-expected loss.
Several other companies, including discount retailer Ross Stores, Inc. (NASDAQ:ROST) and automotive parts retailer AutoZone, Inc. (NYSE:AZO), also came into the spotlight after beating financial expectations for their respective quarters.
Earnings Reports You Don’t Want to Miss
11. Shift4 Payments, Inc. (NYSE:FOUR)
Number of Hedge Fund Holders: 30
Shares of Shift4 Payments, Inc. (NYSE:FOUR) fell more than 11 percent on Tuesday, March 1, 2022, following its mixed financial performance for the fourth quarter. The payment processing company reported adjusted earnings of 8 cents per share, behind the consensus of 18 cents per share.
On the bright side, Shift4 Payments, Inc. (NYSE:FOUR) posted revenue of $399.4 million, up 89 percent versus the year-ago quarter and above expectations of $382.9 million. In addition, the company’s end-to-end payment volume climbed 97 percent to $13.4 billion.
Shift4 Payments, Inc. (NYSE:FOUR) also issued its sales outlook for 2022. It expects to generate revenue in the range of $1.9 – $2 billion, in line with analysts’ average estimate of $1.94 billion.
Addressing shareholders in a letter, CEO Jared Isaacman said:
“The last quarter of 2021 through early 2022 has been especially interesting, busy and likely confusing for investors at a time when the sector has been under immense pressure. On a very positive note, we achieved our guidance for volumes, revenue and gross revenue less network fees for the full-year, following several consecutive quarters of raised guidance.”
10. Hormel Foods Corporation (NYSE:HRL)
Number of Hedge Fund Holders: 32
Shares of Hormel Foods Corporation (NYSE:HRL) closed higher on Tuesday, March 1, 2022, after the Minnesota-based food processing company reported earnings of 44 cents per share for its fiscal first quarter that matched expectations.
Revenue for the quarter rose 24 percent on a year-over-year basis to $3 billion, above the consensus of $2.93 billion. Hormel Foods Corporation (NYSE:HRL) also disclosed its segment-wise sales performance. Revenue from the Refrigerated Foods segment rose 19 percent, while Grocery Products revenue climbed 48 percent in the quarter. In comparison, Jennie-O Turkey Store revenue increased 15 percent.
Hormel Foods Corporation (NYSE:HRL) also reaffirmed its profit and sales outlook for its FY 2022. The company guided for earnings in the range of $1.87 – $2.03 per share and revenue between $11.7 – $12.5 billion.
Like Hormel Foods Corporation (NYSE:HRL), investors are also closely monitoring salesforce.com, inc. (NYSE:CRM), Sea Limited (NYSE:SE) and Target Corporation (NYSE:TGT), following their earnings reports.
9. The J. M. Smucker Company (NYSE:SJM)
Number of Hedge Fund Holders: 32
The J. M. Smucker Company (NYSE:SJM) recently announced better-than-expected financial results for its fiscal third quarter. However, its shares fell over six percent on Tuesday, March 1, 2022, after the company slashed its full-year profit outlook.
The food and beverage products maker earned $2.33 per share on an adjusted basis, down from $2.45 per share in the year-ago quarter. Revenue also inched down one percent to $2.057 billion. Analysts were expecting The J. M. Smucker Company (NYSE:SJM) to report earnings of $2.09 per share on revenue of $2.04 billion.
Looking forward, The J. M. Smucker Company (NYSE:SJM) expects adjusted earnings in the range of $8.35 – $8.65 per share for its fiscal year 2022, compared to its earlier projection between $8.35 – $8.75 per share.
8. Kohl’s Corporation (NYSE:KSS)
Number of Hedge Fund Holders: 34
Shares of Kohl’s Corporation (NYSE:KSS) turned green on Tuesday, March 1, 2022, despite its mixed financial performance for the fourth quarter. The department store retail chain reported adjusted earnings of $2.20 per share, topping estimates of $2.12 per share.
However, the quarterly revenue of $6.499 billion fell slightly short of $6.54 billion predicted by analysts. Among other updates, Kohl’s Corporation (NYSE:KSS) announced that it repurchased $548 million worth of shares during the fourth quarter.
Kohl’s Corporation (NYSE:KSS) also updated its financial outlook for 2022. It guided for adjusted earnings in the range of $7 – $7.50 per share and year-over-year revenue growth between 2 – 3 percent.
7. Hewlett Packard Enterprise Company (NYSE:HPE)
Number of Hedge Fund Holders: 35
Shares of Hewlett Packard Enterprise Company (NYSE:HPE) rose over five percent in the after-hours trading session on Tuesday, March 1, 2022, after beating profit expectations for its fiscal first quarter.
Hewlett Packard Enterprise Company (NYSE:HPE) earned 53 cents per share on an adjusted basis, marginally above 52 cents per share in the year-ago period. Revenue for the quarter inched up two percent versus last year to $7 billion. Analysts were looking for earnings of 46 cents per share on revenue of $7.03 billion.
If we look at the sales performance of its key business units, Compute revenue in the quarter inched up one percent to $3 billion, while Intelligent Edge revenue jumped 11 percent to $901 million. On the downside, Storage revenue slipped three percent to $1.2 billion.
Looking forward, Hewlett Packard Enterprise Company (NYSE:HPE) raised its full-year adjusted earnings outlook to a range of $2.03 – $2.17 per share.
Like Hewlett Packard Enterprise Company (NYSE:HPE), salesforce.com, inc. (NYSE:CRM), Sea Limited (NYSE:SE) and Target Corporation (NYSE:TGT) also came into the spotlight after posting their financial results.
6. First Solar, Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 36
Shares of First Solar, Inc. (NASDAQ:FSLR) plummeted over 15 percent in the after-hours trading session on Tuesday, March 1, 2022, after posting lower-than-expected quarterly sales and disappointing full-year guidance.
First Solar, Inc. (NASDAQ:FSLR) reported earnings of $1.23 per share for the fourth quarter, ahead of the consensus of $1.06 per share. On the downside, the quarterly revenue of $907 million came in below expectations of $918 million.
For the full year, First Solar, Inc. (NASDAQ:FSLR) expects earnings in the range of breakeven – 60 cents per share and revenue between $2.4 – $2.6 billion. The outlook was well below analysts’ average estimate of $1.92 per share for earnings and $2.76 billion for revenue.
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Disclosure: None. 11 Earnings Reports You Don’t Want to Miss is originally published on Insider Monkey.
