In this article, we will take a look at the 11 stocks catching investors’ eyes after earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Catching Investors’ Eyes After Earnings Reports.
Notable companies from the communication services and healthcare sectors, including AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ), HCA Healthcare, Inc. (NYSE:HCA) and Intuitive Surgical, Inc. (NASDAQ:ISRG), recently came into the limelight after releasing their earnings reports.
HCA Healthcare shares fell sharply on weak earnings and outlook. On the other hand, shares of Verizon Communications and Intuitive Surgical also turned red, apparently due to a year-over-year decline in profitability.
Many other companies, including industrial products maker Dover Corporation (NYSE:DOV) and social media firm Snap Inc. (NYSE:SNAP), also traded on unusual volume following their financial results.
Now, let’s discuss the financial highlights of these companies.
Stocks Catching Investors’ Eyes After Earnings Reports
11. Autoliv, Inc. (NYSE:ALV)
Number of Hedge Fund Holders: 23
Shares of Autoliv, Inc. (NYSE:ALV) fell more than seven percent on Friday, April 22, 2022, followings its disappointing financial performance for the first quarter. The automotive safety supplier blamed higher raw-material costs and supply chain hurdles for the weak results.
Autoliv, Inc. (NYSE:ALV) reported adjusted earnings of 45 cents per share, significantly lower than $1.79 per share in the same period of 2021. Revenue slipped 5.3 percent on a year-over-year basis to $2.12 billion. The results missed the consensus of $1.11 per share for earnings and $2.18 billion for revenue.
The company also cut its sales outlook for fiscal 2022. Autoliv, Inc. (NYSE:ALV) now expects organic sales growth in the range of 12 – 17 percent versus its earlier forecast of around 20 percent.
Speaking on the results, CEO Mikael Bratt said in a statement:
“The first quarter of 2022 saw adverse impacts on an already distressed global supply chain, leading to increased cost inflation as well as lower global LVP. At the same time, customer demand visibility decreased, and customer call-off volatility increased leading to significantly higher premium freight and transportation costs. As a result of this, our sales and profitability were lower than we expected at the beginning of the quarter.”
10. Genuine Parts Company (NYSE:GPC)
Number of Hedge Fund Holders: 29
Genuine Parts Company (NYSE:GPC) recently announced better-than-expected financial results for the first quarter. The automotive parts distributor earned $1.86 per share on an adjusted basis, topping expectations of $1.68 per share.
Revenue for the quarter climbed 18.6 percent versus last year to $5.3 billion, beating estimates of $5.06 billion. Genuine Parts Company (NYSE:GPC) also released its segment-wise sales performance. Revenue from its automotive parts group jumped 10.9 percent to $3.3 billion, while revenue from the industrial parts group soared 33.6 percent to $2 billion in the quarter.
Looking forward, Genuine Parts Company (NYSE:GPC) raised its full-year adjusted earnings outlook to a range of $7.70 – $7.85 per share, compared to its earlier guidance between $7.45 – $7.60 per share. The updated outlook is better than the consensus of $7.59 per share.
Like Genuine Parts Company (NYSE:GPC), Verizon Communications Inc. (NYSE:VZ), HCA Healthcare, Inc. (NYSE:HCA) and Intuitive Surgical, Inc. (NASDAQ:ISRG), also came into the spotlight following their earnings reports.
9. Dover Corporation (NYSE:DOV)
Number of Hedge Fund Holders: 30
Shares of Dover Corporation (NYSE:DOV) recently hit a new 52-week low of $138.50 despite beating profit and sales expectations for the first quarter. The company reported adjusted earnings of $1.90 per share, up from $1.81 per share in the same period last year.
Revenue for the quarter rose 9.9 percent on a year-over-year basis to $2.05 billion. Analysts were expecting Dover Corporation (NYSE:DOV) to earn $1.83 per share on a revenue of $2.03 billion.
Dover Corporation (NYSE:DOV) also reaffirmed its financial outlook for 2022. It continues to expect adjusted earnings in the range of $8.45 – $8.65 per share and revenue growth of 8 – 10 percent for the full year.
8. Tractor Supply Company (NASDAQ:TSCO)
Number of Hedge Fund Holders: 31
Tractor Supply Company (NASDAQ:TSCO) is a leading rural lifestyle retailer, selling products related to agriculture, lawn maintenance, home improvement, and livestock, among others.
The Tennessee-based company recently announced its financial results for the first quarter. Tractor Supply Company (NASDAQ:TSCO) reported earnings of $1.65 per share, above the consensus of $1.41 per share. Revenue for the quarter increased 8.3 percent to $3.02 billion, compared to expectations of $2.92 billion.
Among other updates, Tractor Supply Company (NASDAQ:TSCO) reported that the negative impact of the pandemic delayed its new store openings in the quarter. However, the company still plans to open about 75 – 80 new stores in the current fiscal year.
Tractor Supply Company (NASDAQ:TSCO) also issued its financial outlook for 2022. It expects adjusted earnings in the range of $9.20 – $9.50 per share and revenue between $13.6 billion – $13.8 billion for the full year.
7. Kimberly-Clark Corporation (NYSE:KMB)
Number of Hedge Fund Holders: 32
Shares of Kimberly-Clark Corporation (NYSE:KMB) rose over eight percent on Friday, April 22, 2022, after its first-quarter results surpassed expectations. The Texas-based consumer products company reported adjusted earnings of $1.35 per share, compared to $1.80 per share in the first quarter of 2021.
In addition, Kimberly-Clark Corporation (NYSE:KMB) posted revenue of $5.1 billion, up 7 percent over the same period last year. The results exceeded analysts’ average estimate of $1.23 per share for earnings and $4.9 billion for revenue.
Kimberly-Clark Corporation (NYSE:KMB) also issued its segment-wise sales results. Revenue from the personal care segment jumped 11 percent to $2.7 billion, while revenue from the consumer tissue segment increased four percent to $1.6 billion in the quarter. In comparison, revenue from the KCP segment rose four percent to $0.8 billion.
Looking forward, Kimberly-Clark Corporation (NYSE:KMB) guided for adjusted earnings in the range of $5.60 – $6 per share and revenue growth between 2 – 4 percent for fiscal 2022.
Like Kimberly-Clark Corporation (NYSE:KMB), Verizon Communications Inc. (NYSE:VZ), HCA Healthcare, Inc. (NYSE:HCA) and Intuitive Surgical, Inc. (NASDAQ:ISRG), also came into the limelight after releasing their earnings reports.
6. Qualtrics International Inc. (NASDAQ:XM)
Number of Hedge Fund Holders: 38
Shares of Qualtrics International Inc. (NASDAQ:XM) fell to an all-time low on Friday, April 22, 2022, even after announcing better-than-expected results for the first quarter. The Seattle-based software technology company reported adjusted earnings of 1 cent per share, unchanged from the comparable period of 2021.
Revenue came in at $335.6 million, representing a big surge of 41 percent versus the year-ago quarter. Analysts were expecting Qualtrics International Inc. (NASDAQ:XM) to report a loss of 10 cents per share on revenue of $325.6 million.
Qualtrics International Inc. (NASDAQ:XM) also updated its financial outlook for the full year. It expects adjusted earnings in the range of breakeven per share to 2 cents per share and revenue between $1.428 – $1.432 billion for fiscal 2022.
Commenting on the quarter, CEO Zig Serafin said:
“Q1 was an outstanding quarter for Qualtrics – in fact, it was the biggest Q1 in our history. These results highlight the demand for experience management as companies of every size and in every industry navigate an uncertain environment.”
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Disclosure: None. 11 Stocks Catching Investors’ Eyes After Earnings Reports is originally published on Insider Monkey.
