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10 Notable Quarterly Reports to Watch

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·6 min read
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  • DLB
  • TJX
  • ZIM
  • TGT
  • LOW
  • VREX
  • SONO
  • BILI
  • NVDA

In this article, we will take a look at the 10 notable quarterly reports to watch. You can skip our detailed analysis of these companies, and go directly to the 5 Notable Quarterly Reports to Watch.

Retail giants, including Target Corporation (NYSE:TGT), Lowe's Companies, Inc. (NYSE:LOW), and The TJX Companies, Inc. (NYSE:TJX), recently came into the spotlight after beating expectations for the third quarter.

Shares of Target Corporation (NYSE:TGT) and Lowe's Companies, Inc. (NYSE:LOW) jumped to new highs following the results, while The TJX Companies, Inc. (NYSE:TJX) shares turned red despite surpassing expectations.

Several other companies, including tech giant NVIDIA Corporation (NASDAQ:NVDA) and Chinese entertainment platform Bilibili Inc. (NASDAQ:BILI), also made headlines after posting their financial results.

We will discuss the key highlights of these reports in the remaining article. Therefore, let's start our list of 10 notable quarterly reports to watch.

Photo by Tech Daily on Unsplash

Notable Quarterly Reports to Watch

10. Varex Imaging Corporation (NASDAQ:VREX)

Number of Hedge Fund Holders: 16

Shares of Varex Imaging Corporation (NASDAQ:VREX) hit a new 52-week high of $30.55 on Wednesday, 17 November 2021, after announcing better-than-expected financial results for its fiscal fourth quarter.

The provider of medical X-ray tubes and image processing solutions reported adjusted earnings of 45 cents per share, significantly higher than 4 cents per share in the year-ago quarter. Revenue came in at $226 million, compared to $170 million last year. Analysts were expecting Varex Imaging Corporation (NASDAQ:VREX) to post earnings of 37 cents per share on revenue of $215 million.

The company also released the financial outlook for its FY 2022. Varex Imaging Corporation (NASDAQ:VREX) expects adjusted earnings in the range of 20 cents - 40 cents per share and revenue between $200 - $220 million.

Speaking on the results, CEO Sunny Sanyal said in a statement:

"Profitability improved in the quarter driven by strong growth and stable operating expenses. Improved earnings and working capital management helped drive robust cash generation, with cash flow from operations of $51 million in the quarter."

9. JOYY Inc. (NASDAQ:YY)

Number of Hedge Fund Holders: 24

Shares of JOYY Inc. (NASDAQ:YY) rose more than four percent in the after-hours trading session on Wednesday, 17 November 2021, after swinging to a profit in the third quarter. The video-based social media platform reported adjusted earnings of 42 cents per share versus an adjusted loss of 33 cents per share in the year-ago quarter. Analysts were looking for a loss of 4 cents per share.

Revenue for the quarter rose 21.7 percent on a year-over-year basis to $650.5 million, beating the consensus forecast of $621.5 million. The strength in revenue was mainly attributed to the solid growth of BIGO's paying users, which increased 12 percent versus last year to 1.52 million.

JOYY Inc. (NASDAQ:YY) also released its revenue outlook for the fourth quarter. It expects to generate revenue in the range of $652 million - $661 million, translating to year-over-year growth of 14.7 - 16.3 percent.

Like JOYY Inc. (NASDAQ:YY), analysts are also closely watching Target Corporation (NYSE:TGT), Lowe's Companies, Inc. (NYSE:LOW), The TJX Companies, Inc. (NYSE:TJX), NVIDIA Corporation (NASDAQ:NVDA), and Bilibili Inc. (NASDAQ:BILI) after they released their financial results.

8. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Number of Hedge Fund Holders: 25

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) closed higher on Wednesday, 17 November 2021, after delivering solid profit and sales for the third quarter. The cargo shipping company earned $12.16 per share in the quarter, easily surpassing the consensus forecast of $9.25 per share.

Revenue of $3.14 billion also exceeded analysts' average estimate of $2.77 billion. The results showed a significant improvement from earnings of $1.36 per share and revenue of $1.01 billion ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) posted for the comparable period of 2020.

The company also raised its financial outlook for 2021. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) now expects adjusted EBITDA in the range of $6.2 - $6.4 billion, compared to its previous outlook between $4.8 - $5.2 billion.

7. Dolby Laboratories, Inc. (NYSE:DLB)

Number of Hedge Fund Holders: 31

Shares of Dolby Laboratories, Inc. (NYSE:DLB) slightly moved down on Wednesday, 17 November 2021, after posting lower-than-expected revenue for its fiscal fourth quarter. The developer of audio and imaging products generated revenue of $285 million in the quarter, missing the consensus forecast of $300 million.

On the bright side, the adjusted earnings of 58 cents per share surpassed analysts' average estimate of 56 cents per share. Dolby Laboratories, Inc. (NYSE:DLB) had posted adjusted earnings of 45 cents per share on revenue of $271.2 million for the comparable period last year.

Looking forward, the company expects adjusted earnings in the range of $0.98 - $1.13 per share and revenue between $345 - $375 million for the current quarter. In addition, Dolby Laboratories, Inc. (NYSE:DLB) projected adjusted earnings of $3.52 - $4.02 on revenue of $1.34 - $1.40 billion for its FY 2022.

Like Dolby Laboratories, Inc. (NYSE:DLB), Target Corporation (NYSE:TGT), Lowe's Companies, Inc. (NYSE:LOW), The TJX Companies, Inc. (NYSE:TJX), NVIDIA Corporation (NASDAQ:NVDA), and Bilibili Inc. (NASDAQ:BILI) also came into the limelight after their earnings reports.

6. Sonos, Inc. (NASDAQ:SONO)

Number of Hedge Fund Holders: 47

Shares of Sonos, Inc. (NASDAQ:SONO) rose over two percent in the after-hours trading session on Wednesday, 17 November 2021, after beating expectations for its fiscal fourth quarter. The manufacturer of audio products earned 8 cents per share on an adjusted basis, compared to 33 cents per share in the year-ago quarter.

Revenue came in at $359.5 million versus $339.8 million in the comparable period of 2020. Analysts were expecting Sonos, Inc. (NASDAQ:SONO) to report earnings of 6 cents per share on revenue of $360 million.

The company also issued the revenue outlook for its FY 2022. Sonos, Inc. (NASDAQ:SONO) expects revenue in the range of $1.925 - $2.0 billion, translating to year-over-year growth of 12 - 16 percent. The sales guidance is better than the consensus forecast of $1.86 billion.

CEO Patrick Spence expressed his pleasure with the results. Spence said in a statement:

"Demand for our products remains stronger than ever, and we are entering fiscal 2022 with a significant backlog due to the continued industry-wide supply constraints. Despite these supply constraints, we expect to deliver another strong year in fiscal 2022, including 16% revenue growth and 17% adjusted EBITDA growth at the high end of our outlook. The powerful momentum we are experiencing in our business puts us ahead of schedule for reaching the fiscal 2024 financial targets introduced at our investor event last March."

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Disclosure: None. 10 Notable Quarterly Reports to Watch is originally published on Insider Monkey.