In this article, we will take a look at the 11 stocks that beat profit expectations. You can skip our detailed analysis of these companies and go directly to the 5 Stocks That Beat Profit Expectations.
Notable companies from the technology, healthcare and communication services sectors, including Intuit Inc. (NASDAQ:INTU), Agilent Technologies, Inc. (NYSE:A) and Zoom Video Communications, Inc. (NASDAQ:ZM), recently surpassed profit expectations for their respective quarters.
Shares of Intuit and Agilent Technologies turned green in the pre-market trading session on Wednesday, May 25, following the results. Moreover, Zoom stock also closed higher on better-than-expected financial performance.
Several other companies, including aftermarket automotive parts retailer AutoZone, Inc. (NYSE:AZO) and home builder Toll Brothers, Inc. (NYSE:TOL), were also trending following their upbeat quarterly results.
Stocks That Beat Profit Expectations
11. America’s Car-Mart, Inc. (NASDAQ:CRMT)
Number of Hedge Fund Holders: 15
Shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) recently rose to a nearly three-month high after exceeding profit and sales estimates for its fiscal fourth quarter. The automotive retailer reported earnings of $4.01 per share, compared to $6.19 per share in the year-ago period.
Revenue came in at $351.84 million, up 26.1 percent on a year-over-year basis. Analysts were expecting America’s Car-Mart, Inc. (NASDAQ:CRMT) to report earnings of $3.10 per share on revenue of $297.23 million.
The average sales price rose 24 percent to $17,860. Among other updates, America’s Car-Mart, Inc. (NASDAQ:CRMT) reported that it repurchased $8.2 million worth of its common stock during the quarter.
Speaking on the results, CEO Jeff Williams said in a statement:
“We are increasing market share while facing challenges stemming from ongoing supply and demand imbalances in the used car market, inflation, and declining consumer confidence. We expect to see additional productivity improvements as we leverage our investments and competitive strengths.”
10. Caleres, Inc. (NYSE:CAL)
Number of Hedge Fund Holders: 21
Shares of Caleres, Inc. (NYSE:CAL) jumped over 10 percent in the extended hours on Tuesday, May 24, 2022, after posting record financial results for its fiscal first quarter. The footwear company reported earnings of $1.32 per share, significantly higher than 16 cents per share in the same period of 2021.
In addition, Caleres, Inc. (NYSE:CAL) generated revenue of $735.1 million, representing a surge of 15.1 percent over the year-ago period. The results crushed the consensus of 83 cents per share for earnings and $677.28 for revenue.
Caleres, Inc. (NYSE:CAL) also issued its financial outlook for the full year. The company anticipates earnings between $4.20 – $4.40 per share and consolidated revenue growth in the range of 2 – 5 percent for its fiscal 2022.
Like Caleres, Inc. (NYSE:CAL), investors are also closely watching Intuit Inc. (NASDAQ:INTU) and Agilent Technologies, Inc. (NYSE:A), following their earnings reports.
9. Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)
Number of Hedge Fund Holders: 23
Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) announced better-than-expected financial results for its fiscal first quarter, sending its shares up nearly four percent on Tuesday, May 24, 2022.
The San Diego-based pet retailer earned 17 cents per share on an adjusted basis, just ahead of the consensus of 16 cents per share. Revenue came in at $1.48 billion, while analysts were expecting Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) to post revenue of $1.46 billion.
Looking forward, Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) continues to expect adjusted earnings in the range of 97 cents – $1 per share and revenue between $6.15 – $6.25 billion for the full year.
8. Nordson Corporation (NASDAQ:NDSN)
Number of Hedge Fund Holders: 27
Shares of Nordson Corporation (NASDAQ:NDSN) closed higher on Tuesday, May 24, 2022, after beating profit expectations for its fiscal second quarter. The Ohio-based company reported adjusted earnings of $2.43 per share, topping estimates of $2.29 per share.
Revenue for the quarter advanced 8 percent on a year-over-year basis to $635 million. Nordson Corporation (NASDAQ:NDSN) also released its segment-wise sales results. Revenue from the industrial precision solutions increased 6 percent to $316 million, while advanced technology solutions revenue jumped 10 percent to $319 million in the quarter.
In addition, Nordson Corporation (NASDAQ:NDSN) updated its financial outlook for the full year. The company projected adjusted earnings growth in the range of 18 – 21 percent and revenue growth between 8 – 9 percent on a year-over-year basis.
Discussing the results, CEO Sundaram Nagarajan said in a statement:
“I am very proud of the Nordson team’s efforts and our impressive second quarter financial performance, despite the ongoing COVID-related lockdowns in China and foreign currency headwinds.”
7. Toll Brothers, Inc. (NYSE:TOL)
Number of Hedge Fund Holders: 29
Shares of Toll Brothers, Inc. (NYSE:TOL) turned green in the after-hours trading session on Tuesday, May 24, 2022, following an upbeat financial performance for its fiscal second quarter. The Pennsylvania-based homebuilder reported earnings of $1.85 per share, well above $1.01 per share in the comparable period of 2021.
Revenue for the quarter surged 18 percent versus last year to $2.28 billion. Analysts were expecting Toll Brothers, Inc. (NYSE:TOL) to report earnings of $1.54 per share on revenue of $2.06 billion.
Home deliveries, a key growth indicator for Toll Brothers, Inc. (NYSE:TOL), rose 6 percent on a year-over-year basis to 2,407 units. Looking forward, the company projected deliveries of 2,750 units for the current quarter and between 11,000 -11,500 units for its fiscal year 2022.
Like Toll Brothers, Inc. (NYSE:TOL), Intuit Inc. (NASDAQ:INTU) and Agilent Technologies, Inc. (NYSE:A) also came into the limelight after beating profit expectations.
6. Ralph Lauren Corporation (NYSE:RL)
Number of Hedge Fund Holders: 31
Shares of Ralph Lauren Corporation (NYSE:RL) slightly moved up on Tuesday, May 24, 2022, after posting impressive financial results for its fiscal fourth quarter. The New York-based fashion company reported adjusted earnings of 49 cents per share, easily surpassing the consensus of 38 cents per share.
In addition, Ralph Lauren Corporation (NYSE:RL) posted revenue of $1.52 billion, up 18 percent on a year-over-year basis and above expectations of $1.46 billion. If we look at its region-wise sales results, North America revenue jumped 19 percent to $674 million, Europe revenue climbed 26 percent to $467 million and Asia revenue advanced 20 percent to $346 million in the quarter.
For the current quarter, Ralph Lauren Corporation (NYSE:RL) expects revenue growth of about 8 percent. For its fiscal year 2023, the company expects its revenue to grow in the high single digits.
Among other updates, Ralph Lauren Corporation (NYSE:RL) reported that its board increased the regular quarterly dividend by 9 percent to 75 cents per share.
Speaking on the results, CEO Patrice Louvet said in a statement:
“We have laid the groundwork for healthy sustainable growth and value creation in Fiscal 2023. As we continue to navigate a highly dynamic global macroeconomic environment, our growth will be supported by the strength of our brand and multiple engines — from recruiting new high-value consumers to developing high-potential product categories and geographic and channel expansion.”
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Disclosure: None. 11 Stocks That Beat Profit Expectations is originally published on Insider Monkey.
