5 Companies Drawing Attention Following Earnings Reports

In this article, we discuss the 5 companies drawing attention following earnings reports. If you want to read our detailed analysis of these companies, go directly to the 11 Companies Drawing Attention Following Earnings Reports.

5. Stitch Fix, Inc. (NASDAQ:SFIX)

Number of Hedge Fund Holders: 30

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) hit a new 52-week low in the extended hours on Thursday, June 9, 2022, after posting disappointing financial results for its fiscal third quarter. The online personal styling service also disclosed plans to cut its workforce, citing an uncertain macroeconomic environment. The company expects $40 – $60 million in annual cost savings from the job cuts.

For its fiscal third quarter, Stitch Fix, Inc. (NASDAQ:SFIX) reported a loss of 72 cents per share, wider than analysts’ average estimate for a loss of 55 cents per share. Revenue for the quarter fell 8 percent on a year-over-year basis to $492.9 million, missing expectations of $493.26 million.

Among other updates, Stitch Fix, Inc. (NASDAQ:SFIX) reported that its active clients decreased 5 percent to 3,907,000 in the quarter. Moreover, its gross margin also fell 338 basis points to 42.6 percent.

Speaking on the results, CEO Elizabeth Spaulding said:

“While third quarter top-line results, as well as active client counts, were largely within our expectations, we know we still have work to do. This quarter we made progress on improving the overall client experience in order to position Stitch Fix for profitable growth and value creation over time.”

4. Brown-Forman Corporation (NYSE:BF-B)

Number of Hedge Fund Holders: 33

Shares of Brown-Forman Corporation (NYSE:BF-B) rose nearly four percent on Wednesday, June 8, 2022, after beating profit and sales expectations for its fiscal fourth quarter. The Louisville-based spirits and wine producer reported earnings of 31 cents per share, up from 25 cents per share in the year-ago period.

Revenue came in at $996 million, representing a surge of 23 percent over the comparable period of 2021. Analysts were expecting Brown-Forman Corporation (NYSE:BF-B) to report earnings of 27 cents per share on revenue of $832 million.

Praising the results, CEO Lawson Whiting said:

“I am proud of our exceptional results, our strategic progress, and yet another year of growth despite numerous headwinds. We achieved these results due in large part to the resurgence of Jack Daniel’s Tennessee Whiskey, which experienced strong consumer demand as the on-premise channel reopened around the world.”

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.”

2. DocuSign, Inc. (NASDAQ:DOCU)

Number of Hedge Fund Holders: 45

Shares of DocuSign, Inc. (NASDAQ:DOCU) lost nearly 25 percent of their value in the pre-market trading session on Friday, June 10, 2022, after the electronic signature technology provider failed to meet earnings expectations for its fiscal first quarter.

DocuSign, Inc. (NASDAQ:DOCU) reported adjusted earnings of 38 cents per share, missing the consensus of 46 cents per share with a big margin. On the bright side, revenue for the quarter rose 25 percent versus last year to $588.7 million and exceeded expectations of $581.76 million.

Looking forward, DocuSign, Inc. (NASDAQ:DOCU) anticipates revenue in the range of $600 – $604 million for the current quarter and between $2.47 – $2.482 billion for the full year. The outlook is in line with the consensus of $601.71 million for the current quarter and $2.48 billion for its fiscal year 2023.

Speaking on the results, CEO Dan Springer said:

“We delivered solid first-quarter results, growing revenue by 25% year-over-year and adding nearly 67,000 new customers, bringing our total global customer base to 1.24 million. We also bolstered our leadership team with key new hires who, together with our existing team, are ensuring we’re well-positioned to grow and scale our business.”

1. Vail Resorts, Inc. (NYSE:MTN)

Number of Hedge Fund Holders: 47

Shares of Vail Resorts, Inc. (NYSE:MTN) rose over six percent in the pre-market trading session on Friday, June 10, 2022, after announcing better-than-expected profit and sales for its fiscal third quarter.

Vail Resorts, Inc. (NYSE:MTN) reported earnings of $9.16 per share, compared to $6.72 per share in the year-ago period. Revenue for the quarter climbed 32.3 percent on a year-over-year basis to $1.18 billion. The results surpassed the consensus of $9.06 per share for earnings and $1.16 billion for revenue.

Vail Resorts, Inc. (NYSE:MTN) also disclosed the sales results of its flagship businesses. Its lift revenue for the quarter jumped 23.7 percent due to higher pass product sales. In comparison, revenue from the lodging segment climbed 54.6 percent, driven by fewer coronavirus-related restrictions during the quarter.

Speaking on the results, CEO Kirsten Lynch said in a statement:

“We are pleased with our overall results for the quarter and for the 2021/2022 North American ski season. As expected, results for the quarter significantly outperformed results from the prior year primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year period.”

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