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10 Must-Watch Earnings Reports

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·6 min read
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In this article, we will take a look at the 10 must-watch earnings reports. You can skip our detailed analysis of these companies, and go directly to the 5 Must-Watch Earnings Reports.

The second-quarter earnings season is coming to an end. While the majority of U.S. stocks surpassed expectations initially, we have witnessed mixed reports in the latter half of the season.

Companies that recently released their financial results include notable names such as Agilent Technologies, Inc. (NYSE: A), Synopsys, Inc. (NASDAQ: SNPS), Analog Devices, Inc. (NASDAQ: ADI), The TJX Companies, Inc. (NYSE: TJX), and Target Corporation (NYSE: TGT).

In this article, we will be discussing 10 must-watch earnings reports. So, without wasting any time, let's move on to the list.

10 Must-Watch Earnings Reports

10. ZTO Express (Cayman) Inc. (NYSE: ZTO)

Number of Hedge Fund Holders: 21

ZTO Express (Cayman) Inc. (NYSE: ZTO) recently announced mixed financial results for the second quarter ended June 30. The Chinese delivery company reported earnings of 24 cents per share, ahead of the consensus forecast of 22 cents per share.

Total revenue for the quarter rose 14.4 percent on a year-over-year basis to $1.13 billion but fell slightly short of analysts' average estimate of $1.19 billion. Parcel volume in the quarter came in at 5,772 million, up 25.6 percent from the year-ago quarter.

Speaking on the results, CEO Meisong Lai said, "At the current rate of medium to high level of growth, China's express delivery industry will likely grow daily volume to surpass 400 million or more parcels in the next 2-3 years. Capacity and operational efficiencies will set apart the winners and the rest. ZTO has undoubtedly established infrastructure advantages with years of consistent investments and innovations."

ZTO Express (Cayman) Inc. (NYSE: ZTO) also reiterated its parcel volume outlook for 2021. It expects parcel volume between 22.95 billion and 23.80 billion for the full year, representing a year-over-year surge in the range of 35-40 percent.

9. Alcon Inc. (NYSE: ALC)

Number of Hedge Fund Holders: 22

Alcon Inc. (NYSE: ALC) shares have been trading higher since delivering impressive results for the second quarter. The provider of eye care devices reported earnings of 31 cents per share for the three months ended June 30, compared to a loss of 86 cents per share in the year-ago quarter.

Total revenue for the quarter climbed 75 percent on a year-over-year basis to $2.1 billion. If we look at the performance of its flagship segments, surgical revenue skyrocketed 100 percent to $1.2 billion. In comparison, vision care revenue jumped 49 percent to $0.9 billion in the quarter.

Alcon Inc. (NYSE: ALC) also raised its financial outlook for fiscal 2021. It now expects earnings in the range of $2-$2.10 per share versus its previous forecast of $1.85-$1.95 per share.

Revenue for the full year is expected to come between $8 billion to $8.2 billion, compared to its previous guidance between $7.8 billion and $8 billion. Alcon Inc. (NYSE: ALC) shares hit a new 52-week high of $81.83 following Q2 results and updated outlook.

Apart from Alcon Inc. (NYSE: ALC), some other stocks investors are closely watching after their earnings reports include Agilent Technologies, Inc. (NYSE: A), Synopsys, Inc. (NASDAQ: SNPS), Analog Devices, Inc. (NASDAQ: ADI), The TJX Companies, Inc. (NYSE: TJX), and Target Corporation (NYSE: TGT).

8. JOYY Inc. (NASDAQ: YY)

Number of Hedge Fund Holders: 24

JOYY Inc. (NASDAQ: YY) is trending after posting solid results for the second quarter. The video-based social media platform said that its adjusted loss narrowed to 1 cent per share, marking a sharp decline from a loss of 63 cents per share in the comparable period of 2020.

Total revenue for the quarter climbed nearly 40 percent on a year-over-year basis to $661.7 million. The latest quarterly performance was mainly driven by higher streaming revenue from its flagship app, BIGO.

Commenting on the quarter, CEO David Xueling Li said, "Despite the negative impact from local holidays in certain regions, we maintained the growth trajectory of our global business, and managed to achieve significant progress in further enriching our localized content offering in the second quarter. With the enhancement in our product monetization, improvement in our operating leverage, and execution of a more prudent marketing strategy, we almost reached breakeven on a non-GAAP basis at the group level for the first time after we deconsolidated YY Live."

JOYY Inc. (NASDAQ: YY) also issued its sales outlook for the third quarter. It is anticipating revenue in the range of $608 million to $635 million for the current quarter. The guidance represents a year-over-year growth between 13.7-18.7 percent.

7. Lumentum Holdings Inc. (NASDAQ: LITE)

Number of Hedge Fund Holders: 29

Lumentum Holdings Inc. (NASDAQ: LITE) stock rose to a 4-month high after beating expectations for the fourth quarter. The leading manufacturer of optical products reported earnings of 28 cents per share for the three months ended July 3, compared to a loss of 6 cents per share in the same period last year.

On an adjusted basis, Lumentum Holdings Inc. (NASDAQ: LITE) earned $1.15 per share, ahead of the consensus forecast of $1.06 per share. Total revenue for the quarter rose 6.5 percent to $392.1 million, exceeding analysts' average estimate of $382.2 million.

Lumentum Holdings Inc. (NASDAQ: LITE) also issued its financial outlook for the first quarter. It expects adjusted earnings in the range of $1.47 per share to $1.61 per share, better than the consensus forecast of $1.45. Moreover, revenue is expected to come between $430 million and $445 million, in line with analysts' average estimate of $438 million.

Agilent Technologies, Inc. (NYSE: A), Synopsys, Inc. (NASDAQ: SNPS), Analog Devices, Inc. (NASDAQ: ADI), The TJX Companies, Inc. (NYSE: TJX), and Target Corporation (NYSE: TGT) also came into the limelight after releasing their financial results.

6. Cree, Inc. (NASDAQ: CREE)

Number of Hedge Fund Holders: 31

Cree, Inc. (NASDAQ: CREE) recently announced better-than-expected financial results for the fourth quarter ended June 27. The manufacturer of semiconductors reported a loss of $1.28 per share, compared to a loss of 36 cents per share in the same period last year.

On an adjusted basis, Cree, Inc. (NASDAQ: CREE) lost 23 cents per share, narrower than the consensus forecast of 24 cents per share. Revenue for the quarter climbed 35 percent on a year-over-year basis to $145.8 million, just ahead of $145.2 million forecasted by analysts.

Discussing the results, CEO Gregg Lowe said, "We delivered strong revenue during the quarter, as customers are ramping up production earlier and steeper than originally anticipated. We continued to grow and convert opportunities in our device pipeline, further establishing our industry leadership position in silicon carbide."

Cree, Inc. (NASDAQ: CREE) also released its financial guidance for the first quarter. It expects adjusted loss in the range of 21 cents per share to 25 cents per share and revenue between $144 million and $154 million for the current quarter. The guidance aligns with the consensus estimate for a loss of 23 cents and revenue of $150.1 million.

Agilent Technologies, Inc. (NYSE: A), Synopsys, Inc. (NASDAQ: SNPS), Analog Devices, Inc. (NASDAQ: ADI), The TJX Companies, Inc. (NYSE: TJX), and Target Corporation (NYSE: TGT) also came into the limelight after releasing their financial results. Click to continue reading and see the 5 Must-Watch Earnings Reports. Suggested articles:

Disclosure: None. 10 Must-Watch Earnings Reports is originally published on Insider Monkey.