In this article, we will take a look at the 11 stocks in the limelight after releasing their financial results. You can skip our detailed analysis of these companies and go directly to the 5 Stocks in the Limelight After Releasing Their Financial Results.
Stocks from the consumer cyclical and communication services sectors, including The Home Depot, Inc. (NYSE:HD), Global-e Online Ltd. (NASDAQ:GLBE) and Take-Two Interactive Software, Inc. (NASDAQ:TTWO), recently came out with the financial results for their respective quarters.
Shares of Home Depot and Take-Two Interactive rallied in the pre-market trading session on Tuesday, May 17, after beating profit expectations. On the other hand, Global-e Online shares fell to an all-time low after posting a wider-than-expected loss for the first quarter.
In addition, Israel-based tech firms, including monday.com Ltd. (NASDAQ:MNDY) and Wix.com Ltd. (NASDAQ:WIX), also caught investors’ attention following their earnings reports.
Stocks in the Limelight After Releasing Their Financial Results
11. Weber Inc. (NYSE:WEBR)
Number of Hedge Fund Holders: 6
Shares of Weber Inc. (NYSE:WEBR) hit a new 52-week low of $5.72 on Monday, May 16, 2022, after posting disappointing financial results for its fiscal second quarter and a weak outlook for the full year.
Weber Inc. (NYSE:WEBR) reported a loss of $1.02 per share, contrary to analysts’ average estimate for earnings of 18 cents per share. Revenue for the quarter dropped 7 percent on a year-over-year basis to $607.3 million, missing the expectations of $659 million.
For its fiscal year 2022. Weber Inc. (NYSE:WEBR) expects to generate revenue in the range of $1.65 – $1.80 billion, significantly lower than analysts’ average estimate of $2.09 billion.
Commenting on the quarter, CEO Chris Scherzinger said in a statement:
“Our second-quarter results reflect our proactive responses to supply chain and material cost inflation, which helped drive higher sequential gross margin and adjusted EBITDA margin versus the prior quarter.”
10. Shoals Technologies Group, Inc. (NASDAQ:SHLS)
Number of Hedge Fund Holders: 11
Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) rose over five percent in the extended hours on Monday, May 16, 2022, despite announcing lower-than-expected results for the first quarter.
Shoals Technologies Group, Inc. (NASDAQ:SHLS) earned 5 cents per share on an adjusted basis, unchanged from the year-ago period and behind the consensus of 7 cents per share. Revenue for the quarter jumped 49 percent versus last year to $68 million but missed the expectations of $70.38 million.
The solar-power components maker also issued its financial outlook for the full year. Shoals Technologies Group, Inc. (NASDAQ:SHLS) guided for adjusted earnings in the range of $45 – $53 million and revenue between $300 – $325 million for fiscal 2022.
Like Shoals Technologies Group, Inc. (NASDAQ:SHLS), investors are also closely watching The Home Depot, Inc. (NYSE:HD), Global-e Online Ltd. (NASDAQ:GLBE) and Take-Two Interactive Software, Inc. (NASDAQ:TTWO) following their earnings reports.
9. BuzzFeed, Inc. (NASDAQ:BZFD)
Number of Hedge Fund Holders: 12
Shares of BuzzFeed, Inc. (NASDAQ:BZFD) plunged to an all-time low in the after-hours trading session on Monday, May 16, 2022, after missing financial expectations for the first quarter.
The New York-based digital media company reported a loss of 33 cents per share, compared to a loss of 75 cents per share in the year-ago period. Revenue came in at $91.6 million, versus $72.6 million in the year-ago period. Analysts were expecting BuzzFeed, Inc. (NASDAQ:BZFD) to report a loss of 21 cents per share on revenue of $94.46 million.
BuzzFeed, Inc. (NASDAQ:BZFD) also issued its segment-wise sales performance. Its ad revenue jumped 26 percent to $48.7 million, while content revenue climbed 65 percent to $32.3 million in the quarter. On the downside, commerce revenue fell 27 percent to $10.6 million.
8. IonQ, Inc. (NYSE:IONQ)
Number of Hedge Fund Holders: 19
Shares of IonQ, Inc. (NYSE:IONQ) turned green in the extended hours on Monday, May 16, 2022, after the quantum computing company announced better-than-expected financial results for the first quarter.
IonQ, Inc. (NYSE:IONQ) reported a loss of 2 cents per share, narrower than analysts’ average estimate for a loss of 8 cents per share. In addition, the quarterly revenue of $2 million also exceeded the consensus of $1.93 million.
Looking forward, IonQ, Inc. (NYSE:IONQ) expects revenue in the range of $2.3 – $2.5 million for the second quarter. Moreover, the company also reaffirmed its revenue guidance of $10.2 – $10.7 million for the full year.
Discussing the results, CEO Peter Chapman said in a statement:
“We continued to execute well in the first quarter, delivering financial results and operational achievements that exceeded our expectations, as well as breaking new barriers with the completion of our next generation of quantum computers, IonQ Forte.”
7. Stratasys Ltd. (NASDAQ:SSYS)
Number of Hedge Fund Holders: 22
Shares of Stratasys Ltd. (NASDAQ:SSYS) rose over three percent in the after-hours trading session on Monday, May 16, 2022, after beating profit and sales expectations for the first quarter.
Stratasys Ltd. (NASDAQ:SSYS) reported adjusted earnings of 2 cents per share, swinging from an adjusted loss of 6 cents per share in the year-ago period. Revenue for the quarter jumped 21.8 percent on a year-over-year basis to $163.43 million. Analysts had projected a loss of 4 cents per share on revenue of $157.56 million.
If we break down the overall sales by segments, product revenue jumped 25.2 percent to $113.07 million in the quarter. In comparison, services revenue increased 14.8 percent to $50.36 million.
Stratasys Ltd. (NASDAQ:SSYS) also released its financial outlook for fiscal 2022. It expects adjusted earnings in the range of 14 – 19 cents per share and revenue between $685 – $695 million for the full year. The guidance is nearly in line with the consensus of 16 cents per share for earnings and $686.95 million for revenue.
Like Stratasys Ltd. (NASDAQ:SSYS), The Home Depot, Inc. (NYSE:HD), Global-e Online Ltd. (NASDAQ:GLBE) and Take-Two Interactive Software, Inc. (NASDAQ:TTWO) also came into the limelight following their earnings reports.
6. Benson Hill, Inc. (NYSE:BHIL)
Number of Hedge Fund Holders: 23
Benson Hill, Inc. (NYSE:BHIL) is an agricultural biotechnology firm based in Missouri. It is primarily engaged in delivering a range of seed products with attributes such as superior protein and oil content.
The company recently surpassed financial expectations for the first quarter. The promising results sent Benson Hill shares up more than 21 percent on Monday, May 16, 2022. Benson Hill, Inc. (NYSE:BHIL) reported a loss of 1 cent per share, marginally below analysts’ average estimate for a loss of 2 cents per share.
Revenue for the quarter skyrocketed 191 percent versus last year to $92.4 million and crushed the expectations of $74.52 million. Benson Hill, Inc. (NYSE:BHIL) also issued segment-wise sales results. Revenue from the ingredients segment climbed 365 percent to $66.1 million, while revenue from the fresh segment jumped 50 percent to $26.3 million in the quarter.
Looking forward, Benson Hill, Inc. (NYSE:BHIL) continues to expect revenue in the range of $315 – $350 million and a net loss of $148 – $153 million for the full year.
Speaking on the results, CEO Matt Crisp said in a statement:
“Meeting the needs of our customers is paramount during a time of historic macro-economic and geopolitical forces impacting global food security and affordability. The urgency to evolve the food system is intensifying, and we believe our innovations play a key role in delivering more sustainable and affordable food choices to consumers.”
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Disclosure: None. 11 Stocks in the Limelight After Releasing Their Financial Results is originally published on Insider Monkey.
