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11 Notable Quarterly Reports to Watch

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·7 min read
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In this article, we will take a look at the 11 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.

Prominent companies from the tech sector, including Smartsheet Inc. (NYSE:SMAR), Coupa Software Incorporated (NASDAQ:COUP) and GitLab Inc. (NASDAQ:GTLB), recently came out with the financial results for their respective quarters.

Shares of GitLab and Coupa Software rallied on better-than-expected results. However, Smartsheet stock turned red in the pre-market trading Wednesday, June 8, despite beating analysts’ expectations for its fiscal first quarter.

Many other stocks, including food products maker The J. M. Smucker Company (NYSE:SJM) and sporting goods store chain Academy Sports and Outdoors, Inc. (NASDAQ:ASO), also came into the limelight after posting their financial results.

11 Notable Quarterly Reports to Watch
11 Notable Quarterly Reports to Watch

Notable Quarterly Reports to Watch

11. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Number of Hedge Fund Holders: 19

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) fell nearly six percent on Tuesday, June 7, 2022, after missing profit and sales expectations for its fiscal third quarter. The Tennessee-based chain of restaurant and gift stores reported adjusted earnings of $1.29 per share, down from $1.51 per share in the year-ago period.

In addition, Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) posted revenue of $790.2 million, up 11 percent on a year-over-year basis. However, the results came in below the consensus of $1.35 per share for earnings and $795.52 million for revenue.

Looking forward, Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) expects its fourth-quarter revenue to increase about 8 percent over the same period of 2021.

Discussing the results, CEO Sandra B. Cochran said in a statement:

“A challenging macro environment, including deteriorating consumer sentiment and high inflationary pressures, impacted both our top and bottom lines in the third quarter. Despite these challenges, our teams worked hard to deliver on our mission of Pleasing People and continue our strong retail and off-premise performance.”

10. G-III Apparel Group, Ltd. (NASDAQ:GIII)

Number of Hedge Fund Holders: 19

G-III Apparel Group, Ltd. (NASDAQ:GIII) recently announced better-than-expected financial results for its fiscal first quarter. The New York-based clothing company earned 72 cents per share on an adjusted basis, up from 56 cents per share in the same period of 2021.

Revenue for the quarter increased to $688.8 million, from $519.9 million in the year-ago period. Analysts were expecting G-III Apparel Group, Ltd. (NASDAQ:GIII) to report earnings of 55 cents per share on revenue of $589.73 million.

G-III Apparel Group, Ltd. (NASDAQ:GIII) also issued the financial outlook for its fiscal 2023. It expects adjusted earnings in the range of $4.40 - $4.50 per share and revenue of about $3.24 billion for the full year.

Like G-III Apparel Group, Ltd. (NASDAQ:GIII), investors are also closely observing Smartsheet Inc. (NYSE:SMAR), Coupa Software Incorporated (NASDAQ:COUP) and GitLab Inc. (NASDAQ:GTLB), following their earnings reports.

9. United Natural Foods, Inc. (NYSE:UNFI)

Number of Hedge Fund Holders: 20

Shares of United Natural Foods, Inc. (NYSE:UNFI) fell over three percent on Tuesday, June 7, 2022, despite posting better-than-expected financial results for its fiscal third quarter. The wholesale distributor of food reported adjusted earnings of $1.10 per share, surpassing expectations of 97 cents per share.

In addition, United Natural Foods, Inc. (NYSE:UNFI) posted revenue of $7.24 billion, up 9.2 percent on a year-over-year basis and above estimates of $7.10 billion. The gross margin for the quarter decreased to 14 percent from 14.6 percent in the year-ago period.

United Natural Foods, Inc. (NYSE:UNFI) also raised its profit outlook for the full year. The company now expects adjusted earnings in the range of $4.65 - $4.90 per share, compared to its previous outlook between $3.90 - $4.20 per share. The updated guidance is better than the consensus of $4.16 per share.

8. Casey's General Stores, Inc. (NASDAQ:CASY)

Number of Hedge Fund Holders: 22

Shares of Casey's General Stores, Inc. (NASDAQ:CASY) slightly moved down in the extended hours on Tuesday, June 7, 2022, even after posting its fiscal fourth-quarter profit above expectations.

Casey's General Stores, Inc. (NASDAQ:CASY) reported earnings of $1.60 per share, well above $1.12 per share in the same period of 2021. Revenue for the quarter increased to $3.46 billion, from $2.38 billion in the year-ago period. Analysts were looking for earnings of $1.59 per share on revenue of $3.46 billion.

Among other updates, Casey's General Stores, Inc. (NASDAQ:CASY) reported that its board authorized to increase the quarterly dividend by 9 percent to 38 cents per share.

Speaking on the results, CEO Darren Rebelez said in a statement:

“Despite all-time high fuel costs and challenging macro-economic conditions, fuel volume and margins remained strong. We had the most acquisitive year in our Company's history, finishing the year with 2,452 stores.”

7. HealthEquity, Inc. (NASDAQ:HQY)

Number of Hedge Fund Holders: 25

Shares of HealthEquity, Inc. (NASDAQ:HQY) rose to a nearly two month-high on Tuesday, June 7, 2022, after exceeding profit and sales expectations for its fiscal first quarter. The financial technology company earned 27 cents per share on an adjusted basis, down from 38 cents per share in the year-ago quarter.

Revenue came in at $205.7 million, representing a surge of 12 percent over the same period of 2021. Analysts were expecting HealthEquity, Inc. (NASDAQ:HQY) to report earnings of 26 cents per share on revenue of $203.98 million.

For its fiscal 2023, HealthEquity, Inc. (NASDAQ:HQY) guided for adjusted earnings in the range of $1.23 - $1.32 per share and revenue between $827 - $837 million.

Like HealthEquity, Inc. (NASDAQ:HQY), Smartsheet Inc. (NYSE:SMAR), Coupa Software Incorporated (NASDAQ:COUP) and GitLab Inc. (NASDAQ:GTLB) also caught investors’ attention after releasing their earnings reports.

6. Guidewire Software, Inc. (NYSE:GWRE)

Number of Hedge Fund Holders: 28

Shares of Guidewire Software, Inc. (NYSE:GWRE) turned red in the after-hours trading session on Tuesday, June 7, 2022, following its fiscal third-quarter results. The San Mateo-based software company reported an adjusted loss of 26 cents per share, compared to 16 cents per share in the year-ago period.

In addition, Guidewire Software, Inc. (NYSE:GWRE) posted revenue of $197.4 million, up 20 percent on a year-over-year basis. The results were better than analysts' average estimate for a loss of 27 cents per share and revenue of $187.69 million.

Guidewire Software, Inc. (NYSE:GWRE) also released its segment-wise sales results. Its subscription and support revenue climbed 34 percent to $86.9 million, services revenue jumped 18 percent to $56.7 million and license revenue increased 6 percent to $53.9 million in the quarter.

Looking forward, Guidewire Software, Inc. (NYSE:GWRE) expects revenue in the range of $226 - $232 million for its fiscal fourth quarter and between $794 - $800 million for its fiscal 2022.

Commenting on the results, CEO Mike Rosenbaum said in a statement:

“In the third quarter, we exceeded our outlook for revenue and ARR driven by continued momentum for Guidewire Cloud, closing another eight cloud deals in the quarter. This momentum is a result of the terrific progress we are making with Guidewire Cloud and also the resilience and durability of our customer base and the industry we serve.”

 

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