5 Key Quarterly Reports to Watch

In this article, we discuss the 5 key quarterly reports to watch. If you want to read our detailed analysis of these companies, go directly to the 10 Key Quarterly Reports to Watch.

5. FactSet Research Systems Inc. (NYSE:FDS)

Number of Hedge Fund Holders: 28

FactSet Research Systems Inc. (NYSE:FDS) recently came into the limelight after announcing better-than-expected profit and sales for its fiscal first quarter. The financial data and software company reported adjusted earnings of $3.25 per share, up 12.8 percent from the year-ago quarter.

Revenue for the quarter rose 9.4 percent versus last year to $424.7 million. Analysts were expecting FactSet Research Systems Inc. (NYSE:FDS) to post earnings of $2.99 per share on revenue of $419.4 million.

The company also reaffirmed its financial outlook for the full year. FactSet Research Systems Inc. (NYSE:FDS) continues to expect adjusted earnings in the range of $12.00 – $12.30 per share and revenue between $1.705 – $1.720 billion.

Speaking on the results, CEO of FactSet Research Systems Inc. (NYSE:FDS), Phil Snow, said:

“I’m pleased to report that FactSet once again delivered impressive quarterly results, reflecting the continuing momentum in our business. It is clear that the investments we have made in our business are paying off in top line growth.”

4. Paychex, Inc. (NASDAQ:PAYX)

Number of Hedge Fund Holders: 34

Shares of Paychex, Inc. (NASDAQ:PAYX) hit a new 52-week high of $135.46 on Wednesday, December 22, 2021, after delivering impressive financial results for its fiscal second quarter. The human-resources company reported adjusted earnings of 91 cents per share, beating expectations of 80 cents per share.

Revenue for the quarter jumped 13 percent on a year-over-year basis to $1.109 billion, ahead of analysts’ average estimate of $1.06 billion. Paychex, Inc. (NASDAQ:PAYX) said the results were helped by continued sales growth and customer retention.

The company also raised the profit outlook for its FY 2022. Paychex, Inc. (NASDAQ:PAYX) now expects its adjusted earnings to grow in the range of 18 – 20 percent versus its previous forecast of 12 – 14 percent growth.

Commenting on the quarter, CEO of Paychex, Inc. (NASDAQ:PAYX), Martin Mucci, said in a statement:

“Trends that emerged during the pandemic continue unabated, particularly the demand for human resource (“HR”) advice and the need for benefits packages that address talent needs. We continue to support our clients in a proactive manner, as we have done throughout the pandemic.”

3. Cintas Corporation (NASDAQ:CTAS)

Number of Hedge Fund Holders: 36

Shares of Cintas Corporation (NASDAQ:CTAS) slipped nearly two percent on Wednesday, December 22, 2021, after posting its quarterly results. The corporate identity uniforms maker earned $2.76 per share, compared to $2.62 per share in the year-ago quarter.

Revenue came in at $1.92 billion, up from $1.76 billion in the comparable period of 2020.

Cintas Corporation (NASDAQ:CTAS) also raised the financial outlook for its fiscal year 2022. The company now expects adjusted earnings in the range of $10.70 – $10.95 per share on revenue of $7.63 – $7.7 billion. Previously, it was looking for earnings of $10.60 – $10.90 per share and revenue of $7.58 – $7.67 billion.

2. CarMax, Inc. (NYSE:KMX)

Number of Hedge Fund Holders: 36

Shares of CarMax, Inc. (NYSE:KMX) turned red on Wednesday, December 22, 2021, even though the used vehicle retailer posted its fiscal third-quarter results above expectations. The company earned $1.63 per share, up from $1.42 per share in the comparable period of 2020. Analysts were looking for earnings of $1.45 per share.

In addition, CarMax, Inc. (NYSE:KMX) posted revenue of $8.5 billion, up 64.5 percent on a year-over-year basis and ahead of the consensus forecast of $7.378 billion. Moreover, the company sold 415,054 vehicles in the quarter, up nearly 30 percent from the same period last year. The surge was mainly driven by solid demand for its online offerings.

Meanwhile, CarMax, Inc. (NYSE:KMX) purchased 383,215 vehicles from customers in the latest quarter, representing an impressive jump of 91 percent from the year-ago quarter.

Discussing the results, CEO of CarMax, Inc. (NYSE:KMX), Bill Nash, said:

“Our solid execution, customer-centric omni-channel strategy, and macro factors are driving strong performance across our diversified businesses. Our top line momentum continued into this quarter and we achieved record levels of third quarter unit sales in both retail and wholesale, generating all-time record revenues. We also bought more cars from customers than ever before.”

1. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 70

Shares of NIKE, Inc. (NYSE:NKE) rose more than six percent on Tuesday, December 21, 2021, after announcing better-than-expected financial results for its fiscal second quarter. The sportswear company reported earnings of 83 cents per share for the quarter, above expectations of 63 cents per share.

Revenue for the quarter came in at $11.4 billion, nearly flat from the comparable period of 2020. Analysts were expecting NIKE, Inc. (NYSE:NKE) to generate revenue of $11.25 billion.

NIKE, Inc. (NYSE:NKE) reported that its direct sales in the quarter rose nine percent versus last year to $4.7 billion, while digital sales increased 12 percent on a year-over-year basis.

Like its industry peers, NIKE, Inc. (NYSE:NKE) also faced production and logistic hurdles in the quarter. The company mentioned that the pandemic-driven factory closures have affected its progress in recent months. In addition, it also blamed higher freight costs for denting its gross margin.

Speaking on the results, CFO Matt Friend said:

“Our second quarter results reflect our deep consumer connections, the continued strength of our brands and strong marketplace demand. As we navigate through short-term supply challenges, we are focused on executing our Consumer Direct Acceleration strategy to fuel our long-term financial outlook.”

You can also take a peek at 10 Dividend Stocks to Buy According to Billionaire Jim Simons’ Hedge Fund and 10 Meme Stocks that More than Doubled in 2021.

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