5 Earnings Reports Everyone is Talking About

In this article, we discuss the 5 earnings reports everyone is talking about. If you want to see some more stocks that are trending after posting their quarterly results, go directly to the 11 Earnings Reports Everyone is Talking About.

5. Concentrix Corporation (NASDAQ:CNXC)

Number of Hedge Fund Holders: 23

Shares of Concentrix Corporation (NASDAQ:CNXC) slightly moved up in the pre-market trading session on Wednesday, March 30, 2022, following an upbeat financial performance for its fiscal first quarter.

Concentrix Corporation (NASDAQ:CNXC) reported adjusted earnings of $2.85 per share, up from $2.29 in the year-ago period. Revenue increased 13.5 percent on a year-over-year basis to $1.536 billion. The results topped the consensus of $2.71 per share for earnings and $1.46 billion for revenue.

Looking forward, Concentrix Corporation (NASDAQ:CNXC) expects revenue in the range of $1.570 – $1.60 billion for the current quarter and between $6.450 – $6.60 billion for the full year.

Speaking on the results, CEO Chris Caldwell said:

“We delivered double-digit revenue and profit growth in the first quarter. Integration of PK into our Concentrix Catalyst team is on track, and we are seeing strong demand from strategic client partners for our unique mix of CX digital solutions.”

4. Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)

Number of Hedge Fund Holders: 28

Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) recently hit a new 52-week high of $50 despite missing expectations for its fiscal fourth quarter. The Dallas-based restaurant and entertainment company earned 52 cents per share, compared to a loss of $1.19 per share in the same period last year.

Revenue came in at $343.1 million, representing a big jump of 193.7 percent on a year-over-year basis. However, analysts were expecting Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) to earn 61 cents per share on revenue of $365.37 million.

Discussing the results, CEO of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY), Kevin Sheehan, said in a statement:

“Fiscal 2021 was a demanding year but our store management teams – and all of our team members rose to the challenge working tirelessly to return our stores to fully operational status. Despite continuing headwinds from COVID-19 (including vaccine requirements in certain markets) we saw strong sales across our stores in fiscal 2021.”

3. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 43

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) jumped to a nearly three-month high in the pre-market trading session on Wednesday, March 30, 2022, after topping profit expectations for its fiscal fourth quarter.

Lululemon Athletica Inc. (NASDAQ:LULU) reported adjusted earnings of $3.37 per share, up from $2.58 per share in the fourth quarter of 2020. Analysts were looking for earnings of $3.28 per share.

Revenue for the quarter rose 23 percent versus last year to $2.13 billion and matched the consensus forecast. Among other updates, Lululemon Athletica Inc. (NASDAQ:LULU) reported that it repurchased $812.6 million worth of its common stock during the quarter. In addition, it opened 22 new stores, bringing the total count to 574.

Looking forward, Lululemon Athletica Inc. (NASDAQ:LULU) expects earnings in the range of $1.38 – $1.43 per share and revenue between $1.525 – $1.550 billion for the current quarter. This compares to the consensus of $1.29 per share for earnings and $1.55 billion for revenue.

2. RH (NYSE:RH)

Number of Hedge Fund Holders: 58

RH (NYSE:RH) recently announced a better-than-expected profit for its fiscal fourth quarter. However, the home-furnishings company’s quarterly sales were below expectations, sending its shares down more than six percent in the pre-market trading session on Wednesday, March 30, 2022.

RH (NYSE:RH) earned $5.66 per share on an adjusted basis, beating estimates of $5.58 per share. On the downside, revenue came in at $903 million, up 11 percent on a year-over-year basis but below the consensus of $931.78 million.

For the current quarter, RH (NYSE:RH) expects its revenue to grow in the range of 7 – 8 percent versus the same period of 2021. For its fiscal 2022, it projected revenue growth between 5 – 7 percent on a year-over-year basis.

Addressing shareholders in a letter, RH (NYSE:RH) said:

“RH continues to set a new standard for financial performance in the home furnishings industry and our results now reflect those of the luxury sector as adjusted operating margin reached 25.6% in 2021, up 1,130 basis points versus 2019, reflecting the strongest two-year growth in our sector.”

1. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 83

Micron Technology, Inc. (NASDAQ:MU) continues to benefit from the global chip shortage. The Idaho-based chip giant recently delivered another impressive quarter, helped by pent-up demand for its products and services.

Micron shares rose nearly three percent in the pre-market trading session on Wednesday, March 30, 2022, following the solid results for its fiscal second quarter.

Micron Technology, Inc. (NASDAQ:MU) reported adjusted earnings of $2.14 per share, well above 98 cents per share in the year-ago period. Revenue for the quarter jumped 24.8 percent on a year-over-year basis to $7.79 billion. The results easily exceeded analysts’ average estimate of $1.97 per share for earnings and $7.52 billion for revenue.

Micron Technology, Inc. (NASDAQ:MU) also issued an upbeat financial outlook for its fiscal third quarter. It expects adjusted earnings in the range of $2.36 – $2.56 per share, above expectations of $2.21 per share. In addition, it guided for revenue between $8.5 – $8.9 billion for the current quarter versus the consensus of $8.06 billion.

Speaking on the results, CEO Sanjay Mehrotra said:

“Micron’s excellent second quarter results exceeded the high end of our guidance for both revenue and margin, reflecting our strong execution. We’re leading the industry in technology across DRAM and NAND, and our product portfolio momentum is accelerating. With outstanding first half results, Micron is on track to deliver record revenue and robust profitability in fiscal 2022.”

You can also take a peek at 10 Consumer Staples Stocks To Buy According To Billionaire Ray Dalio and 10 Undervalued Dividend Kings To Buy In 2022.

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