5 Companies Drawing Attention Following Earnings Reports

3. Five Below, Inc. (NASDAQ:FIVE)

Number of Hedge Fund Holders: 37

Five Below, Inc. (NASDAQ:FIVE) announced mixed financial results for its fiscal first quarter and a weak outlook for the current quarter. As a result, its shares slipped over 1 percent in the pre-market trading session on Friday, June 10, 2022.

The specialty discount stores operator reported earnings of 59 cents per share, significantly lower than 88 cents per share in the year-ago period. In addition, Five Below, Inc. (NASDAQ:FIVE) posted revenue of $639.6 million, up 7 percent on a year-over-year basis. Analysts were looking for earnings of 58 cents per share on revenue of $652.74 million.

For its fiscal second quarter, Five Below, Inc. (NASDAQ:FIVE) expects earnings in the range of 74 – 86 cents per share and revenue between $675 – $695 million. However, the outlook missed the consensus of $1.20 per share for earnings and $729.47 million for revenue.

Discussing the results, CEO Joel Anderson said:

“While first quarter sales were softer than expected, disciplined cost management enabled us to deliver against our earnings outlook. We are well positioned from an inventory standpoint with improved in-stocks and accelerated receipts for Summer and Back to School.”