5 Companies Making Noise After Posting Their Earnings Reports

In this article, we discuss the 5 companies making noise after posting their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Companies Making Noise After Posting Their Earnings Reports.

5. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 62

Lam Research Corporation (NASDAQ:LRCX) recently announced weak financial results for its fiscal third quarter. The wafer fabrication equipment supplier reported adjusted earnings of $7.40 per share, compared to $7.49 per share in the same period last year.

Revenue came in at $4.06 billion, up from $3.85 billion in the linked quarter of 2021. Analysts were expecting Lam Research Corporation (NASDAQ:LRCX) to report earnings of $7.58 per share on revenue of $4.26 billion.

Looking forward, Lam Research Corporation (NASDAQ:LRCX) guided for adjusted earnings in the range of $6.50 – $8 per share and revenue between $3.9 – $4.5 billion for the fourth quarter. Analysts had projected earnings of $8.23 per share on revenue of $4.45 billion.

Discussing the results, CEO Tim Archer said:

“We are focused on resolving our supply issues as quickly as possible to support strong customer demand. We remain confident in the secular drivers of wafer fabrication equipment investment as well as Lam’s leadership position and expect to return to solid growth as industry constraints ease.”

4. Anthem, Inc. (NYSE:ANTM)

Number of Hedge Fund Holders: 63

Shares of Anthem, Inc. (NYSE:ANTM) recently jumped to an all-time high following its upbeat financial performance for the first quarter. The health insurance giant reported adjusted earnings of $8.25 per share, up from $7.01 per share in the year-ago period.

In addition, Anthem, Inc. (NYSE:ANTM) posted revenue of $37.9 billion, up 18 percent on a year-over-year basis. The results surpassed analysts’ average estimate of $7.81 per share for earnings and $37.42 billion for revenue.

Anthem, Inc. (NYSE:ANTM) also raised its profit outlook for 2022, citing a better-than-expected Q1 performance. It is anticipating adjusted earnings of more than $28.40 per share for the full year, compared to its previous guidance of over $28.25 per share.

Commenting on the quarter, CEO Gail Boudreaux said:

“Our strong momentum across all our businesses is evidence that our transformation to become a lifetime, trusted health partner continues to drive our growth and accelerate our capabilities focused on whole person health.”

3. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 64

Shares of Abbott Laboratories (NYSE:ABT) rose over two percent on Wednesday, April 20, 2022, after delivering impressive profit and sales for the first quarter. The health care company earned $1.73 per share on an adjusted basis, beating expectations of $1.47 per share with a big margin.

Revenue for the quarter rose 13.8 percent on a year-over-year basis to $11.9 billion, while analysts were expecting Abbott Laboratories (NYSE:ABT)  to post revenue of $11.02 billion. Revenue from the coronavirus testing sales came in at $3.3 billion. while revenue from the sale of medical devices rose 7.4 percent to $3.56 billion in the quarter.

Abbott Laboratories (NYSE:ABT) also reaffirmed its profit outlook for 2022. It expects adjusted earnings of at least $4.70 per share for the full year, compared to analysts’ average estimate of $4.83 per share.

2. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 67

Share of The Procter & Gamble Company (NYSE:PG) closed higher on Wednesday, April 20, 2022, after announcing better-than-expected financial results for its fiscal third quarter. The consumer goods giant benefitted from price hikes that reduced the negative impact of inflation.

The Procter & Gamble Company (NYSE:PG) reported adjusted earnings of $1.33 per share, up from $1.26 per share in the year-ago period. Revenue for the quarter rose 7 percent versus last year to $19.38 billion. Analysts were looking for earnings of $1.29 per share on revenue of $18.73 billion.

The Procter & Gamble Company (NYSE:PG) also raised the sales outlook for its fiscal 2022. It now expects revenue growth in the range of 4 – 5 percent versus its previous forecast of 3 – 4 percent.

Speaking on the results, CEO Jon Moeller said:

“We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds. These results enable us to raise our top-line growth outlook for the fiscal year and to maintain our EPS guidance range.”

1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 91

Electric vehicle (EV) giant Tesla, Inc. (NASDAQ:TSLA) is once again in the headlines after announcing record financial results for the first quarter. The latest performance is also impressive considering the supply chain challenges the company faced in the quarter.

Nevertheless, Tesla, Inc. (NASDAQ:TSLA) overcame those hurdles partly by increasing the prices of its vehicles. The company reported adjusted earnings of $3.22 per share, crushing the consensus of $2.26 per share. The record quarterly revenue of $18.76 billion also topped analysts’ average estimate of $17.80 billion with a big margin.

Tesla, Inc. (NASDAQ:TSLA) shares jumped more than six percent in the mid-day trading session on Thursday, April 21, 2022, following the results.

Among other updates, Tesla, Inc. (NASDAQ:TSLA) reported that its automotive revenue climbed 87 percent versus last year to $16.86 billion. In addition, its automotive gross margins also climbed to a record 32.9 percent.

Overall, Tesla, Inc. (NASDAQ:TSLA) delivered more than 310,000 vehicles during the three months ended March 31, representing a surge of 68 percent over the first quarter of 2021. This year, the company plans to grow the total deliveries by at least 50 percent over last year.

Discussing the manufacturing operations, Tesla, Inc. (NASDAQ:TSLA) said in a statement:

“We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on our equipment capacity, operational efficiency and the capacity and stability of the supply chain. Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through the rest of 2022.”

You can also take a peek at 10 Favorite Stocks of Billionaire Izzy Englander and 10 Undervalued Dividend Kings To Buy In 2022.

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