5 Stocks Making Moves on Quarterly Results

In this article, we discuss the 5 stocks making moves on quarterly results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Moves on Quarterly Results.

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

Number of Hedge Fund Holders: 30

Shares of Levi Strauss & Co. (NYSE:LEVI) jumped over eight percent, hitting a nearly one-month high, after announcing better-than-expected financial results for its fiscal third quarter on Wednesday, 6 October 2021.

The clothing retailer reported adjusted earnings of 48 cents per share for the three months ended 29 August 2021, well above 8 cents per share in the comparable period of 2020. Analysts were expecting Levi Strauss & Co. (NYSE:LEVI) to post earnings of 38 cents per share.

Revenue for the quarter jumped 41 percent on a year-over-year basis to $1.5 billion, beating the consensus forecast of $1.48 billion. Total wholesale revenue climbed 45 percent in the quarter amid solid demand from the U.S. and Europe. In comparison, direct-to-consumer (DTC) revenue jumped 34 percent in the quarter.

Levi Strauss & Co. (NYSE:LEVI) also updated the financial outlook for its fiscal fourth quarter. It expects adjusted earnings in the range of 38 – 40 cents per share and revenue growth between 20 – 21 percent for the current quarter.

4. Acuity Brands, Inc. (NYSE:AYI)

Number of Hedge Fund Holders: 33

Acuity Brands, Inc. (NYSE:AYI) recently came into the limelight after its shares climbed to a four-year high on Wednesday, 6 October 2021. The surge was mainly driven by the company’s impressive results for its fiscal fourth quarter.

The provider of lighting and building management solutions reported adjusted earnings of $3.27 per share for the three months ended 31 August 2021, well above $2.35 per share in the year-ago quarter.

In addition, Acuity Brands, Inc. (NYSE:AYI) posted revenue of $992.7 million, translating to a surge of 11.4 percent on a year-over-year basis. The results easily surpassed the consensus forecast of $2.85 per share for earnings and $961.6 million for revenue.

Speaking on the results, CEO Neil Ashe said in a statement:

“We improved our operations and delivered solid performance in a challenging environment. We are entering fiscal 2022 from a position of strength with a diverse and capable team, who are driven by our values to deliver results for our customers, our investors and our environment.”

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

Number of Hedge Fund Holders: 36

Shares of Lamb Weston Holdings, Inc. (NYSE:LW) turned red on Thursday, 7 October 2021, after its fiscal first-quarter profit and sales fell short of expectations. Moreover, the company also warned investors that higher costs would continue to weigh on its earnings in the remaining year.

Lamb Weston Holdings, Inc. (NYSE:LW) reported earnings of 20 cents per share for the quarter ended 29 August 2021, significantly lower than 61 cents per share in the comparable period last year.

Revenue for the quarter rose 13 percent on a year-over-year basis to $984.2 million. Analysts were expecting Lamb Weston Holdings, Inc. (NYSE:LW) to report earnings of 37 cents per share on revenue of $1 billion.

CEO Tom Werner discussed several challenges Lamb Weston Holdings, Inc. (NYSE:LW) is facing right now. Werner said in a statement:

“The impact of extreme summer heat that negatively affected potato crops in the Pacific Northwest, combined with industrywide operational challenges, including highly inflationary input and transportation costs, labor availability, and upstream and downstream supply chain disruptions, will result in higher costs as the year progresses, and significantly pressure our earnings. Accordingly, we expect our gross profit margins to remain below pre-pandemic levels through fiscal 2022.”

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

Number of Hedge Fund Holders: 50

Shares of Constellation Brands, Inc. (NYSE:STZ) rose more than two percent on Thursday, 7 October 2021, after announcing the financial results for its fiscal second quarter. The leading producer of alcoholic beverages reported adjusted earnings of $2.52 per share, missing the consensus forecast of $2.79 per share

Revenue came in at $2.37 billion, just ahead of the consensus forecast of $2.3 billion. Constellation Brands, Inc. (NYSE:STZ) had reported adjusted earnings of $2.91 per share on revenue of $2.26 billion in the comparable period of 2020.

Constellation Brands, Inc. (NYSE:STZ) also updated the profit outlook for its fiscal year 2022. It now expects adjusted earnings in the range of $10.15 – $10.45 per share, slightly higher than its previous forecast between $10 – $10.40 per share.

1. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 66

PepsiCo, Inc. (NASDAQ:PEP) recently caught investors’ attention after delivering another solid quarter. The food and beverage giant recently reported adjusted earnings of $1.79 per share for the three months ended 4 September 2021, up from $1.66 per share in the comparable period of 2020.

Revenue for the quarter rose 11.6 percent on a year-over-year basis to $20.19 billion. The results exceeded the consensus forecast of $1.73 per share for earnings and $19.39 billion for revenue. Shares of PepsiCo, Inc. (NASDAQ:PEP) rose to a one-month high following the results.

If we compare the performance of key businesses, revenue from the North American beverage segment rose 7 percent in the quarter, while revenue from Frito-Lay North America increased 6 percent. In comparison, revenue from Quaker Foods North America inched up just 1 percent in the quarter.

Looking forward, PepsiCo, Inc. (NASDAQ:PEP) expects organic revenue growth of approx. 8 percent for its fiscal year 2021, up from its previous projection for a growth of 6 percent.

Discussing the results, CEO Ramon Laguarta said in a statement:

“Our strong year-to-date results demonstrate that the investments we have made towards becoming a Faster, Stronger, and Better company are working. To further complement and enhance our strategic framework, we recently introduced PepsiCo Positive (pep+), a fundamental end-to-end transformation of what we do and how we do it to create growth and shared value with sustainability and human capital at the center.”

You can also take a peek at 10 Best Solar Energy Stocks to Buy Today and 10 Tech IPOs that Flopped.

Follow Insider Monkey on Twitter