5 Companies Drawing Attention on Quarterly Reports

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

5. Electronic Arts Inc. (NASDAQ:EA)

Number of Hedge Fund Holders: 41

Shares of Electronic Arts Inc. (NASDAQ:EA) turned green in the pre-market trading session on Wednesday, May 11, 2022, after announcing its fiscal fourth-quarter results above expectations.

Electronic Arts Inc. (NASDAQ:EA) reported adjusted earnings of $1.46 per share, topping expectations of $1.43 per share. The quarterly revenue of $1.83 billion also surpassed analysts’ average estimate of $1.77 billion.

Among other updates, Electronic Arts Inc. (NASDAQ:EA) reported that it repurchased 2.5 million worth of its common stock during the quarter. Moreover, it announced a quarterly dividend of 19 cents per share, up 12 percent on a sequential basis.

On the downside, Electronic Arts Inc. (NASDAQ:EA) offered a weak sales outlook for the current quarter. The Redwood City-based videogame publisher expects adjusted sales in the range of $1.20 – $1.25 billion, well below expectations of $1.44 billion.

4. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 58

Shares of Occidental Petroleum Corporation (NYSE:OXY) slightly moved up in the pre-market trading session on Wednesday, May 11, 2022, after swinging to a profit in the first quarter. The Houston-based oil producer primarily benefitted from higher commodity prices, as fuel prices rose sharply following the Russia-Ukraine war.

Occidental Petroleum Corporation (NYSE:OXY) reported adjusted earnings of $2.12 per share, compared to an adjusted loss of 15 cents per share in the year-ago period. Revenue for the quarter increased to $8.5 billion, from $5.5 billion in the comparable period of 2021. The results easily surpassed analysts’ average estimate of $2.03 per share for earnings and $8.08 billion for revenue.

Praising the results, CEO of Occidental Petroleum Corporation (NYSE:OXY), Vicki Hollub, said in a statement:

“We are pleased with our employees’ outstanding performance in the first quarter in meeting our production guidance and, in accordance with our full-year capital plan, preparing our global operations to deliver increased barrels of oil and natural gas to the market for the remainder of the year.”

3. Builders FirstSource, Inc. (NYSE:BLDR)

Number of Hedge Fund Holders: 59

Shares of Builders FirstSource, Inc. (NYSE:BLDR) closed higher on Tuesday, May 10, 2022, after its first-quarter profit rose sharply on a year-over-year basis. The Dallas-based manufacturer of building materials earned $3.90 per share on an adjusted basis, significantly higher than $1.42 per share in the year-ago period.

Revenue came in at $5.68 billion, up 36.1 percent over the same period of 2021. Analysts were expecting Builders FirstSource, Inc. (NYSE:BLDR) to report earnings of $1.98 per share on revenue of $4.60 billion.

Speaking on the results, CFO Peter Jackson said in a statement:

“We remain committed to a balanced approach to capital deployment through 2022 and beyond as we leverage our strong cash flow to pursue additional accretive investments in our operations while executing against our share repurchase authorizations. We expect to generate free cash flow of $2.0 billion to $2.4 billion in 2022, reflecting disciplined working capital management and our ability to capitalize on our industry-leading product portfolio.”

2. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 61

Roblox Corporation (NYSE:RBLX) recently announced weak financial results for the first quarter. The disappointing performance sent Roblox shares down to an all-time low in the pre-market trading session on Wednesday, May 11, 2022.

The California-based video game developer reported a loss of 27 cents per share, wider than analysts’ average estimate for a loss of 22 cents per share. In addition, Roblox Corporation (NYSE:RBLX) posted revenue of $537.1 million, up 39 percent over the year-ago quarter but well below the consensus of $639.5 million.

Among other updates, Roblox Corporation (NYSE:RBLX) reported that booking for the quarter slipped 3 percent versus last to $631.2 million. In addition, average daily active users in the quarter jumped 28 percent on a year-over-year basis to 54.1 million but came in slightly below the expectations of 55 million.

Commenting on the quarter, CEO David Baszucki said:

“We remained focused on delivering our innovation roadmap to unlock the full potential of the Roblox platform and drive long-term returns for investors. Over the past two quarters, we have launched a number of notable innovations including spatial voice and layered clothing that will continue driving user growth, engagement and monetization.”

1. TransDigm Group Incorporated (NYSE:TDG)

Number of Hedge Fund Holders: 64

Shares of TransDigm Group Incorporated (NYSE:TDG) rose nearly four percent on Tuesday, May 10, 2022, after an upbeat financial performance for its fiscal second quarter. The aerospace manufacturing company reported adjusted earnings of $3.86 per share, up from $2.58 per share in the same period of 2021.

Revenue for the quarter increased 11 percent versus last year to $1.327 billion. Analysts were expecting TransDigm Group Incorporated (NYSE:TDG) to report earnings of $3.69 per share on revenue of $1.31 billion.

Updating investors on stock repurchases, TransDigm Group Incorporated (NYSE:TDG) reported that it bought back $667 million worth of its shares during the quarter. In addition, the company said that it is not providing its fiscal 2022 outlook due to uncertainty surrounding its commercial end markets.

Speaking on the results, CEO Kevin Stein said:

“It is encouraging that the global commercial aerospace recovery continues to steadily progress forward. As we expected, this recovery is not linear as the world experiences new COVID variants and certain countries deploy strict lockdown policies. However, despite these hurdles, the global commercial aerospace recovery is proceeding, led primarily by the pent-up demand for domestic leisure travel – though improving trends in international air traffic and business air travel are a positive.”

You can also take a peek at 11 Best Video Game Stocks To Invest In and 10 Favorite Stocks of Dan Loeb’s Third Point.

Follow Insider Monkey on Twitter