In this article, we will take a look at the 11 stocks in focus after posting their earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks in Focus After Posting Their Earnings Reports.
Consumer cyclical and consumer defensive companies, including NIO Inc. (NYSE:NIO), KB Home (NYSE:KBH) and General Mills, Inc. (NYSE:GIS), recently came out with their earnings reports.
NIO fell after issuing a weak sales outlook, while KB Home shares plummeted to a nearly 14-month low after failing to meet expectations for its fiscal first quarter. On the other hand, General Mills shares rose for two consecutive days following its upbeat quarterly profit.
Several other companies, including car wash chain Mister Car Wash, Inc. (NYSE:MCW) and restaurant operator Darden Restaurants, Inc. (NYSE:DRI), also caught investors’ attention after releasing financial results for their respective quarters.
Let’s take a look at some of the stocks trending recently after their quarterly reports.
Stocks in Focus After Posting Their Earnings Reports
11. Hyzon Motors Inc. (NASDAQ:HYZN)
Number of Hedge Fund Holders: 15
Shares of Hyzon Motors Inc. (NASDAQ:HYZN) jumped nearly 10 percent on Thursday, March 24, 2022, a day after announcing mixed financial results for the fourth quarter. The hydrogen-powered commercial vehicles maker reported a loss of 12 cents per share, in line with the expectations.
Revenue came in at $5.1 million, missing the consensus of $21.4 million with a big margin. Among other updates, Hyzon Motors Inc. (NASDAQ:HYZN) reported that it delivered 87 vehicles in 2021.
Moving forward, Hyzon Motors Inc. (NASDAQ:HYZN) expects to deliver 300 to 400 vehicles in the current fiscal year. However, the company added that most deliveries would be made in the second half of the year, mainly due to supply chain hurdles.
Speaking on the results, CEO Craig Knight said in a statement:
“In spite of widely recognized disruptions throughout the global supply chain, we delivered 87 fuel cell electric vehicles, with heavy and medium duty trucks now being validated in real world operations.”
10. Movado Group, Inc. (NYSE:MOV)
Number of Hedge Fund Holders: 15
Shares of Movado Group, Inc. (NYSE:MOV) rose over eight percent on Thursday, March 24, 2022, after delivering impressive profit and sales for its fiscal fourth quarter. The New Jersey-based watchmaker earned $1.32 per share on an adjusted basis, representing a big surge from 84 cents per share in the year-ago period.
In addition, Movado Group, Inc. (NYSE:MOV) posted revenue of $206 million, up 15.5 percent on a year-over-year basis. The results easily surpassed analysts’ average estimate of 80 cents per share for earnings and $191 million for revenue.
If we look at Movado’s region-wise sales performance, revenue from the U.S. jumped 18.5 percent, while international revenue rose 12.7 percent on a year-over-year basis. Looking forward, Movado Group, Inc. (NYSE:MOV) guided for revenue in the range of $780 – $800 million for its fiscal year 2023.
Like Movado Group, Inc. (NYSE:MOV), analysts are also closely observing NIO Inc. (NYSE:NIO), KB Home (NYSE:KBH) and General Mills, Inc. (NYSE:GIS) following their earnings reports.
9. Oxford Industries, Inc. (NYSE:OXM)
Number of Hedge Fund Holders: 17
Shares of Oxford Industries, Inc. (NYSE:OXM) recently jumped to a nearly two-month high after announcing better-than-expected financial results for its fiscal fourth quarter. The Georgia-based clothing company reported adjusted earnings of $1.68 per share, well above 13 cents per share in the comparable quarter of 2020.
Revenue came in at $300 million versus $221 million in the year-ago quarter. Analysts were expecting Oxford Industries, Inc. (NYSE:OXM) to earn $1.43 per share on revenue of $295 million.
Oxford Industries, Inc. (NYSE:OXM) also released the financial outlook for its fiscal year 2022. It expects earnings in the range of $8.75 – $9.15 per share and revenue between $1.245 – $1.285 billion.
8. SmartRent, Inc. (NYSE:SMRT)
Number of Hedge Fund Holders: 17
Shares of SmartRent, Inc. (NYSE:SMRT) fell over nine percent in the after-hours trading session on Thursday, March 24, 2022, after posting a wider-than-expected loss for the fourth quarter.
SmartRent, Inc. (NYSE:SMRT) reported a loss of 13 cents per share, higher than analysts’ average estimate for a loss of 9 cents per share. On the bright side, revenue for the quarter skyrocketed 155 percent to $34.7 million, beating expectations of $31.4 million.
Looking forward, SmartRent, Inc. (NYSE:SMRT) expects revenue in the range of $35 – $37 million for the first quarter and between $220 – $250 million for the full year.
7. Neogen Corporation (NASDAQ:NEOG)
Number of Hedge Fund Holders: 18
Shares of Neogen Corporation (NASDAQ:NEOG) recently hit a new 52-week low of $29.71 after announcing disappointing financial results for its fiscal third quarter. The Michigan-based food and animal safety company reported adjusted earnings of 13 cents per share, below the consensus of 15 cents per share.
In addition, the quarterly revenue of $128.2 million also missed analysts’ average estimate of $129.99 million. If we look at the sales performance of key segments of Neogen Corporation (NASDAQ:NEOG), revenue from the food safety segment rose 7 percent to $62.7 million in the quarter. In comparison, revenue from the animal safety segment jumped 12 percent to $65.5 million.
Like Neogen Corporation (NASDAQ:NEOG), KB Home (NYSE:KBH), NIO Inc. (NYSE:NIO) and General Mills, Inc. (NYSE:GIS) also came into the spotlight after releasing their earnings reports.
6. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)
Number of Hedge Fund Holders: 23
Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) recently announced a better-than-expected profit for its fiscal fourth quarter. The discount retailer earned 69 cents per share on an adjusted basis, compared to 97 cents per share in the year-ago period and above the consensus of 66 cents.
On the downside, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) posted revenue of $501.1 million, which came in below analysts’ average estimate of $513.13 million. Comparable store sales in the quarter fell 10.5 percent versus a surge of 8.8 percent in the same period of 2020.
For its fiscal first quarter, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) guided for adjusted earnings in the range of 31 – 33 cents per share and revenue between $417 – $422 million.
Discussing the results, CEO John Swygert said in a statement:
“During the fourth quarter we exceeded our earnings expectations. We navigated numerous headwinds including unprecedented inflation in merchandise and transportation costs, shipping delays of imported product, and backlogs at our distribution centers. We accomplished this by controlling what we could by leveraging our vast network of vendor partners, improving efficiencies in our distribution centers, and keeping a tight control on expenses.”
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Disclosure: None. 11 Stocks in Focus After Posting Their Earnings Reports is originally published on Insider Monkey.
