5 Stocks that Just Delivered Impressive Quarterly Earnings

In this article we discuss the 5 stocks that just delivered impressive quarterly earnings. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks that Just Delivered Impressive Quarterly Earnings.

5. Chegg, Inc. (NYSE: CHGG)

Number of Hedge Fund Holders: 33

Online tutoring company Chegg recently announced second-quarter profit and sales above expectations. Chegg reported earnings of 43 cents per share for the quarter ended June 30, up from 37 cents per share in the comparable period of 2020. Revenue for the quarter jumped 30 percent on a year-over-year basis to $198.5 million.

The results surpassed the consensus forecast of 38 cents per share for earnings and $190 million for revenue. The impressive quarterly performance was mainly driven by a 38 percent surge in services revenues.

Speaking on the results, CEO Dan Rosensweig said, “Chegg had a great Q2 with total revenue growth of 30%, driven by 38% growth in Chegg Services revenue with Chegg Services subscribers growing to 4.9 million in the quarter. Our international growth also continues to be strong, and we are confident we will exceed our initial expectation of over one million international subscribers for the year.”

Chegg also issued its sales outlook for the third quarter and FY 2021. The company expects revenue in the range of $170 million to $175 million for the current quarter. For the full year, revenue is expected to come between $805 million and $815 million.

4. Tyson Foods (NYSE: TSN)

Number of Hedge Fund Holders: 28

Most restaurants around the world are now running at full capacity due to the ease of Covid-19 mobility restrictions. As a result, the demand for chicken, beef, and pork has increased sharply in recent months. Being a top meat supplier, Tyson Foods has benefitted from the elevated demand.

The company recently delivered a solid quarter. TSN reported earnings of $2.05 per share for the third quarter ended July 3, translating to a surge of 42 percent from the year-ago quarter. Excluding items, the adjusted earnings of $2.70 per share crushed the consensus forecast of $1.61 per share.

Revenue came in at $12.48 billion, higher than $10.02 billion in the comparable period last year. Analysts, on average, were expecting Tyson Foods to post revenue of $11.46 billion.

Commenting on the results, CEO Donnie King said:

“With trusted brands that met strong consumer demand, we have delivered 12 consecutive quarters of share gains in core business lines at retail. Our foodservice volume improved as the restaurant industry began to reopen and recover. Our beef business increased production to meet strong U.S. and international demand for higher-quality products.”

Tyson Foods also lifted its sales outlook for fiscal 2021. It expects revenue in the range of $46 billion to $47 billion for the full year. That’s higher than its previous forecast, between $44 billion and $46 billion.

3. DISH Network Corporation (NASDAQ: DISH)

Number of Hedge Fund Holders: 51

DISH started its journey as a small retail store named EchoStar in 1980, initially selling direct-to-home satellite TV products and services. In 1996, the company launched its satellite television service called Dish Network that became increasingly popular in the U.S. In 2007, the company split its technology and infrastructure business under the EchoStar name, while the direct-broadcast satellite television business was renamed DISH Network.

The company has recently announced better-than-expected financial results for the second quarter. DISH reported earnings of $1.06 per share for the three months ended June 30, up from 78 cents per share in the comparable period of 2020.

Revenue improved to $4.49 billion, versus $3.19 billion in the year-ago quarter. The results exceeded analysts’ average estimate of 89 cents per share for earnings and $4.43 billion for revenue.

However, DISH lost 67,000 Pay-TV subscribers in the quarter, still lower than 96,000 it lost in the same period last year. On the bright side, it acquired over 200,000 wireless subscribers as a result of its asset purchase deal with Republic Wireless.

2. TransDigm Group (NYSE: TDG)

Number of Hedge Fund Holders: 62

TransDigm primarily makes money by selling spare parts to airlines and commercial aerospace clients. The company on Tuesday announced its profit and sales for the third quarter that topped expectations.

The company reported adjusted earnings of $3.33 per share for the quarter ended July 3, more than doubled from $1.54 per share in the comparable period of 2020. Analysts, on average, were looking for earnings of $2.93 per share. Revenue for the quarter jumped 19 percent on a year-over-year basis to $1.218 billion, just ahead of the consensus forecast of $1.2 billion. However, TDG stock didn’t gain any value despite beating expectations.

Discussing the results, CEO Kevin Stein said:

“Trends in the commercial aerospace industry are encouraging and have increasingly shown signs of recovery in recent months with vaccination rates expanding and air traffic improving, especially in certain domestic markets. We also saw another quarter of sequential improvement in our commercial aftermarket revenues.”

1. Berkshire Hathaway Inc. (NYSE: BRK-B)

Number of Hedge Fund Holders: 111

Berkshire Hathaway is one of the world’s largest holding companies. It has stakes in numerous publicly listed companies, besides owning several businesses in insurance, railroad, power generation, and retail sectors.

The company recently announced solid results for the second quarter, fueled by a strong recovery in energy, railroads, and utilities segments. Berkshire’s Q2 profit rose 6.8 percent on a year-over-year basis to $28.1 billion. In addition, operating earnings for the quarter jumped 21 percent to $6.69 billion.

Revenue for the quarter surged 21.6 percent on a year-over-year basis to $69.1 billion. Moreover, the company’s cash pile in the quarter swelled to $144.1 billion, compared to $138.3 billion at the end of 2020. Berkshire also revealed that it reacquired $6 billion worth of its shares during the quarter, bringing the total to $12.6 billion on a year-to-date basis.

You can also take a peek at 10 Best NFT Stocks to Buy Now and 10 Best EV Materials Stocks to Buy.

Follow Insider Monkey on Twitter