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11 Notable Earnings Reports to Watch

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·6 min read
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In this article, we will take a look at the 11 notable earnings reports to watch. You can skip our detailed analysis of these companies and go directly to the 5 Notable Earnings Reports to Watch.

The fourth-quarter earnings season has ended, but many companies are still posting financial results for their respective quarters according to their own fiscal calendar. Recently, stocks from the consumer cyclical and technology sectors, including Stitch Fix, Inc. (NASDAQ:SFIX), DICK'S Sporting Goods, Inc. (NYSE:DKS) and MongoDB, Inc. (NASDAQ:MDB), released their earnings reports.

Shares of MongoDB and DICK'S Sporting Goods surged following their upbeat financial performance. On the other hand, Stitch Fix shares plunged to an all-time low after issuing weak sales guidance for its fiscal third quarter.

Several other companies, including online dating app Bumble Inc. (NASDAQ:BMBL) and healthcare apparel brand FIGS, Inc. (NYSE:FIGS), also gained value on heavy volume after releasing their financial results.

Photo by Mohamed Hadji on Unsplash

Notable Earnings Reports to Watch

11. Clarus Corporation (NASDAQ:CLAR)

Number of Hedge Fund Holders: 14

Shares of Clarus Corporation (NASDAQ:CLAR) rose nearly four percent on Tuesday, March 8, 2022, after delivering impressive profit and sales for the fourth quarter. The outdoor equipment maker attributed the results to solid demand across its business segments.

Clarus Corporation (NASDAQ:CLAR) reported adjusted earnings of 45 cents per share, up from 34 cents per share in the year-ago period. Analysts were looking for earnings of 36 cents per share.

Revenue for the quarter also climbed 55.6 percent on a year-over-year basis to $118.18 million, topping expectations of $105.81 million. Clarus Corporation (NASDAQ:CLAR) also disclosed its segment-wise sales numbers.

Its Outdoor revenue jumped 17 percent to $65.1 million, while Precision Sport revenue soared 37 percent to $27.6 million in the quarter. In comparison, its Adventure segment brought in revenue of $25.5 million.

Looking forward, Clarus Corporation (NASDAQ:CLAR) projected revenue of $470 million for 2022, representing a growth of 25 percent over last year. The outlook is also better than the consensus of $450.8 million.

10. FIGS, Inc. (NYSE:FIGS)

Number of Hedge Fund Holders: 16

Shares of FIGS, Inc. (NYSE:FIGS) jumped over 10 percent in the after-hours trading session on Tuesday, March 8, 2022, after announcing better-than-expected financial results for the fourth quarter.

FIGS, Inc. (NYSE:FIGS) earned 9 cents per share on an adjusted basis, easily surpassing the expectations of 3 cents per share. Revenue for the quarter climbed 42.7 percent versus last year to $128.7 million, while analysts were looking for $126.58 million.

Among other updates, the Santa Monica-based healthcare apparel brand reported that its active customers at the end of the fourth quarter reached 1.9 million, representing a surge of 46 percent over 2020.

FIGS, Inc. (NYSE:FIGS) also issued its sale outlook for 2022. It expects to generate revenue between $550 - $560 million in the current fiscal year, representing a decent increase from $419.6 million in 2021.

Like FIGS, Inc. (NYSE:FIGS), investors are also closely watching Stitch Fix, Inc. (NASDAQ:SFIX), DICK'S Sporting Goods, Inc. (NYSE:DKS) and MongoDB, Inc. (NASDAQ:MDB) following their earnings reports.

9. Sumo Logic, Inc. (NASDAQ:SUMO)

Number of Hedge Fund Holders: 16

Sumo Logic, Inc. (NASDAQ:SUMO) recently posted its fiscal fourth-quarter results above expectations. However, its shares slipped nearly three percent in the after-hours trading session on Tuesday, March 8, 2022, following its mixed outlook for the current quarter.

The machine data analytics company reported an adjusted loss of 13 cents per share, wider than the loss of 7 cents per share in the year-ago period. Revenue for the quarter rose 24 percent on a year-over-year basis to $67 million. Analysts expected Sumo Logic, Inc. (NASDAQ:SUMO) to report a loss of 17 cents per share on revenue of $64.31 million.

For its fiscal first quarter, Sumo Logic, Inc. (NASDAQ:SUMO) expects an adjusted loss of 17 cents per share and revenue between $65.5 -$66.5 million. For its FY 2023, the company guided for an adjusted loss of 68 - 66 cents per share on revenue of $288 - $292 million.

8. ABM Industries Incorporated (NYSE:ABM)

Number of Hedge Fund Holders: 20

Shares of ABM Industries Incorporated (NYSE:ABM) turned green in the after-hours trading session on Tuesday, March 8, 2022, after beating profit and sales expectations for its fiscal first quarter.

ABM Industries Incorporated (NYSE:ABM) earned 94 cents per share on an adjusted basis, compared to $1.01 per share in the same period last year. Revenue came in at $1.9 billion, up 29.7 percent on a year-over-year basis. The results topped the consensus of 78 cents per share for earnings and $1.83 billion for revenue.

For its FY 2022, ABM Industries Incorporated (NYSE:ABM) raised its adjusted earnings outlook to a range of $3.50 - $3.70 per share, compared to its previous forecast of $3.30 - $3.55 per share. The revised guidance's midpoint represents a surge of five percent over its fiscal year 2021.

Speaking on the results, CEO Scott Salmirs said in a statement:

"Given this first quarter performance and our favorable outlook for the remainder of the year, we are raising our full fiscal year guidance for EPS. This guidance assumes that office occupancy rates will gradually improve as we move through the year and that labor markets will remain challenging, but manageable."

7. Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)

Number of Hedge Fund Holders: 23

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) rose over eight percent on Tuesday, March 8, 2022, following its upbeat financial performance for the fourth quarter.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) reported adjusted earnings of 28 cents per share versus expectations of 25 cents per share. In addition, the quarterly revenue of $1.5 billion also surpassed analysts' average estimate of $1.49 billion.

Looking forward, Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) expects adjusted earnings in the range of $0.97 - $1 per share and revenue between $6.15 - $6.25 billion for its FY 2022.

Like Petco Health and Wellness Company, Inc. (NASDAQ:WOOF), Stitch Fix, Inc. (NASDAQ:SFIX) and MongoDB, Inc. (NASDAQ:MDB) also came into the limelight after posting their financial results.

6. Bumble Inc. (NASDAQ:BMBL)

Number of Hedge Fund Holders: 25

Bumble Inc. (NASDAQ:BMBL) has been drawing a lot of attention after releasing its financial results for the fourth quarter. Despite its weak quarterly performance, its shares rallied over 20 percent in the after-hours trading session on Tuesday, March 8, 2022.

The online dating app operator reported a loss of 8 cents per share, wider than the loss of 1 cent per share in the fourth quarter of 2020. Revenue came in at $208.2 million versus $165.6 million in the year-ago period. Analysts were expecting Bumble Inc. (NASDAQ:BMBL) to report a loss of 2 cents per share on revenue of $209.6 million.

Moving forward, Bumble Inc. (NASDAQ:BMBL) expects to generate revenue in the range of $207 - $210 million for the current quarter and between $934 - $944 million for the full year.

Among other updates, Bumble Inc. (NASDAQ:BMBL) announced that it is ceasing its operations in Russia, removing all its applications from both iOS and Android in the country.

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Disclosure: None. 11 Notable Earnings Reports to Watch is originally published on Insider Monkey.