5 Earnings Reports You Don’t Want to Miss

In this article, we discuss the 5 earnings reports you don’t want to miss. If you want to read our detailed analysis of these companies, go directly to the 11 Earnings Reports You Don’t Want to Miss. 

5. Ross Stores, Inc. (NASDAQ:ROST)

Number of Hedge Fund Holders: 39

Shares of Ross Stores, Inc. (NASDAQ:ROST) rose over seven percent in the pre-market trading session on Wednesday, March 2, 2022, after announcing better-than-expected financial results for its fiscal fourth quarter.

Ross Stores, Inc. (NASDAQ:ROST) reported earnings of $1.04 per share, compared to $1.28 per share in the year-ago period. Revenue came in at $5.02 billion versus $4.25 billion in the same period last year. The results exceeded the consensus of 98 cents per share for earnings and $4.97 billion for revenue.

Looking forward, Ross Stores, Inc. (NASDAQ:ROST) expects earnings in the range of 93 – 99 cents per share for the current quarter and between $4.71 – $5.12 per share its fiscal year 2022.

Discussing the results, CEO Barbara Rentler said:

“We achieved strong sales results in the fourth quarter despite the negative impact from both the surge in Omicron cases during the peak holiday selling period and continued supply chain congestion. Fourth quarter operating margin of 9.8% was down from 13.3% in 2019 mainly due to ongoing headwinds from higher freight, wages, and COVID-related costs.”

4. AutoZone, Inc. (NYSE:AZO)

Number of Hedge Fund Holders: 45

Shares of AutoZone, Inc. (NYSE:AZO) turned red on Tuesday, March 1, 2022, despite beating profit and sales expectations its fiscal second quarter. The aftermarket automotive parts retailer earned $22.30 per share, substantially higher than $14.93 per share in the year-ago period.

In addition, AutoZone, Inc. (NYSE:AZO) posted revenue of $3.37 billion, up 15.8 percent on a year-over-year basis. Analysts were looking for earnings of $17.79 per share on $3.17 billion in revenue.

Among other updates, AutoZone, Inc. (NYSE:AZO) announced that it repurchased $1.6 billion worth of its common stock during the quarter. In addition, it opened 26 new stores in the same period, bringing the total count to 6,815.

Commenting on the quarter, CEO Bill Rhodes said:

“Our retail and commercial sales performance remained strong this quarter. While our commercial sales growth continued to be elevated at 32.1%, our retail sales growth also remained healthy with over 10% growth against a tough comparison from a year ago.”

3. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 49

Shares of Target Corporation (NYSE:TGT) recently rose to a one-month high after delivering impressive profit for its fiscal fourth quarter. The Minnesota-based retail giant reported adjusted earnings of $3.19 per share, compared to $2.67 per share in the same period last year.

Revenue came in at $30.99 billion, representing a surge of 9.4 percent over the same period last year. Analysts expected Target Corporation (NYSE:TGT) to earn $2.86 per share on revenue of $31.41 billion during the quarter.

Target Corporation (NYSE:TGT) also issued its financial outlook for 2022. The company expects its adjusted earnings per share to grow in the high-single-digit and revenue to grow in the low to mid-single-digit.

Speaking on the results, CEO Brian Cornell said:

“Our strong fourth-quarter performance capped off a year of record growth in 2021, reinforcing the durability of our business model and our confidence in long-term profitable growth.”

2. Sea Limited (NYSE:SE)

Number of Hedge Fund Holders: 108

Shares of Sea Limited (NYSE:SE) lost more than 13 percent of their value on Tuesday, March 1, 2022, after its fourth-quarter earnings fell short of expectations. The consumer internet company reported an adjusted loss of 88 cents per share, wider than analysts’ average estimate for a loss of 59 cents per share.

On the bright side, revenue for the quarter skyrocketed 105.7 percent versus last year to $3.22 billion and surpassed expectations of $2.91 billion. Sea Limited (NYSE:SE) also disclosed its segment-wise sales performance. Revenue from the Digital Entertainment segment climbed 104.1 percent to $1.4 billion in the quarter, while E-commerce revenue jumped 89.4 percent to $1.6 billion. In comparison, revenue from Digital Financial Services skyrocketed 711.1 percent to $197.5 million.

Looking forward, Sea Limited (NYSE:SE) expects e-commerce revenue in the range of $8.9 – $9.1 billion for FY 2022. The mid-point of the guidance represents a surge of 75.7 percent over 2021.

Discussing the results, CEO Forrest Li said:

“In 2021, we continued to focus on sustainable growth and serving the fast growing and evolving demands and needs of our communities. With our growing scale, market leadership and strong cash balance, we believe we are well placed to increasingly leverage efficiencies across our ecosystem for growth and manage the levers of our business to reach profitability across more markets and segments in 2022 and beyond.”

1. salesforce.com, inc. (NYSE:CRM)

Number of Hedge Fund Holders: 110

Shares of salesforce.com, inc. (NYSE:CRM) turned green in the pre-market trading session on Wednesday, March 2, 2022, following its upbeat financial performance for the fourth quarter. The cloud-based software company reported adjusted earnings of 84 cents per share, topping expectations of 74 cents per share.

In addition, salesforce.com, inc. (NYSE:CRM) posted revenue of $7.33 billion for the quarter, above the consensus of $7.24 billion. Subscription and support revenue climbed 25 percent to $6.83 billion, while professional services and other revenues jumped 46 percent to $0.50 billion in the quarter.

salesforce.com, inc. (NYSE:CRM) also issued the sales outlook for its fiscal first quarter. It expects to generate revenue in the range of $7.37 – $7.38 billion, above analysts’ average estimate of $7.26 billion.

Speaking on the results, CFO Amy Weaver said:

“Fiscal 2022 was a remarkable year for Salesforce. I am particularly pleased with our focus on discipline and profitable growth which drove record levels of revenue, margin, and cash flow. I’m confident in the momentum of the business as we build an even stronger company in FY23 and beyond.”

You can also take a peek at 10 Bank Dividend Stocks to Diversify Your Portfolio and 10 Undervalued Dividend Kings To Buy In 2022.

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