5 Companies in Focus After Posting Their Financial Results

In this article, we discuss the 5 companies in focus after posting their financial Results. If you want to read our detailed analysis of these companies, go directly to the 11 Companies in Focus After Posting Their Financial Results.

5. Array Technologies, Inc. (NASDAQ:ARRY)

Number of Hedge Fund Holders: 25

Shares of Array Technologies, Inc. (NASDAQ:ARRY) fell over 11 percent on Tuesday, April 5, 2022, after posting a wider-than-expected loss for the fourth quarter. The solar tracker solutions provider reported an adjusted loss of 6 cents per share, compared to adjusted earnings of 8 cents per share in the fourth quarter of 2020.

Revenue for the quarter rose 22 percent on a year-over-year basis to $219.9 million. Analysts were expecting Array Technologies, Inc. (NASDAQ:ARRY) to report a loss of 3 cents per share on revenue of $213.82 million.

Among other updates, Array Technologies, Inc. (NASDAQ:ARRY) reported that its gross margin for the quarter fell to 4.7 percent, well below 19.6 percent in the year-ago period. The company blamed higher raw material and shipping costs for the drop.

Looking forward, Array Technologies, Inc. (NASDAQ:ARRY) expects adjusted earnings in the range of 55 – 74 cents per share and revenue between $1.45 – $1.75 billion for the current fiscal year.

Commenting on the quarter, CEO Jim Fusaro said:

“Despite a challenging 2021 it is important to re-iterate that the foundation of Array’s growth remains stronger than ever.  This is most evident by the fact that we enter 2022 with $1.8 billion in executed contracts and awarded orders.”

4. Conagra Brands, Inc. (NYSE:CAG)

Number of Hedge Fund Holders: 25

Conagra Brands, Inc. (NYSE:CAG) recently came into the spotlight after announcing its fiscal third-quarter results. The Chicago-based processed and packaged food retailer earned 58 cents per share, matching the consensus estimate.

In addition, Conagra Brands, Inc. (NYSE:CAG) generated revenue of $2.91 billion, up 5.1 percent versus last year and above expectations of $2.84 billion. If we look at its segment-wise sales performance, revenue from the grocery & snacks segment increased 6.2 percent to $1.2 billion, while the refrigerated & frozen segment’s revenue inched up 2.9 percent to $1.2 billion in the quarter. In comparison, its Foodservice segment’s revenue jumped 18.9 percent to $235 million.

On the downside, Conagra Brands, Inc. (NYSE:CAG) lowered the profit outlook for its fiscal 2022. The company now expects adjusted earnings of about $2.35 per share, compared to its earlier guidance of around $2.50 per share.

Discussing the results, CEO Sean Connolly said:

“We experienced higher-than-expected cost pressures as the third quarter progressed and expect those pressures to continue into the fourth quarter, particularly in certain frozen, refrigerated, and snacks businesses. In response, we have taken steps to implement additional inflation-driven pricing actions. We will begin to see the benefits of these actions in the first quarter of fiscal 2023.”

3. Levi Strauss & Co. (NYSE:LEVI)

Number of Hedge Fund Holders: 26

Shares of Levi Strauss & Co. (NYSE:LEVI) marginally moved down on Thursday, April 7, 2022, despite announcing better-than-expected financial results for its fiscal first quarter. The company attributed the latest performance to higher t-shirts and jeans sales and improved pricing. However, the suspension of business operations in Russia marginally impacted its quarterly sales.

Levi Strauss & Co. (NYSE:LEVI) earned 46 cents per share on an adjusted basis, up from 32 cents per share in the comparable period of 2021. Analysts were looking for earnings of 42 cents per share. Revenue for the quarter advanced 22 percent on a year-over-year basis to $1.59 billion and exceeded analysts’ average estimate of $1.55 billion.

Levi Strauss & Co. (NYSE:LEVI) also reiterated the financial outlook for its fiscal 2022. It continues to expect adjusted earnings in the range of $1.50 – $1.56 per share and revenue growth between 11 – 13 percent for the full year.

Commenting on the guidance, CFO Harmit Singh said:

“The ongoing consumer demand across our portfolio of brands and our proven ability to deliver profitable growth give us the confidence to reaffirm our full-year outlook despite the incremental headwinds from ongoing macro challenges.”

2. Lamb Weston Holdings, Inc. (NYSE:LW)

Number of Hedge Fund Holders: 38

Shares of Lamb Weston Holdings, Inc. (NYSE:LW) rose nearly eight percent on Thursday, April 7, 2022, after posting its fiscal third-quarter profit above expectations. The food processing company reported adjusted earnings of 73 cents per share, beating the consensus of 44 cents per share with a big margin.

However, the quarterly revenue of $955 million fell short of analysts’ average estimate of $968.52 million. Lamb Weston Holdings, Inc. (NYSE:LW) also issued its segment-wise sales performance. Revenue from its global segment inched up 2 percent to $487.9 million, while revenue from the Foodservice business climbed 34 percent to $294.5 million in the quarter. On the downside, revenue from the retail segment fell 12 percent to $143.6 million.

Looking forward, Lamb Weston Holdings, Inc. (NYSE:LW) expects its fiscal 2022 sales to exceed its long-term goal of low-to-mid single digits. In addition, the company lifted its fiscal 2022 gross margin outlook to a range of 19 – 20 percent, compared to its previous guidance of 18 – 20 percent.

1. Constellation Brands, Inc. (NYSE:STZ)

Number of Hedge Fund Holders: 48

Shares of Constellation Brands, Inc. (NYSE:STZ) rose nearly five percent on Thursday, April 7, 2022, after delivering impressive financial results for its fiscal fourth quarter. The beer and wine retailer reported adjusted earnings of $2.37 per share, up from $1.82 per share in the year-ago period. Analysts were looking for earnings of $2.09 per share.

In addition, Constellation Brands, Inc. (NYSE:STZ) posted revenue of $2.1 billion, up 8 percent on a year-over-year basis and higher than analysts’ average estimate of $2.02 billion. If we look at the performance of its flagship businesses, beer sales jumped 14 percent to $1.6 billion, while wine and spirits sales decreased 7 percent to $536.8 million in the quarter.

Speaking on the results, CEO of Constellation Brands, Inc. (NYSE:STZ), Bill Newlands, said:

“Driven by a relentless focus on building brands consumers love, our business continues to gain momentum. Despite various headwinds, we extended our leadership position in the high-end of the U.S. beer market, our high-end wine and spirits brands continue to outpace the industry complimented by successful innovation, we continue to invest aggressively in our core business, and we’ve set a strong foundation for future growth.”

You can also take a peek at 10 Blue Chip Stocks with Dividends and 10 Undervalued Dividend Kings To Buy In 2022.

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