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April 08, 2023
RPM International Inc., Constellation Brands Inc, Lamb Weston Holdings Inc and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Markets closed higher Thursday; Nasdaq closed the day at 12,100, having gained 0.76%. S&P 500 gained 0.36% and closed at 4,105.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets were up and stocks have released their quarterly earnings reports. Have a look.
RPM International | outperforms analyst estimates
RPM International Inc. was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.37 per share on revenue of $1.52 billion, topping estimates of 0.3 per share on revenue of $1.47 billion.
After ending Wednesday at $84.33, RPM International dropped to $79.47 early in Thursday's session and closed at $81.19. In total, it lost 3.72%. Daily trading volume (2.19 million shares) increased, making up 260% of the 21-day average (842,537).
Constellation Brands | Extends $3.2 since strong earnings report Thursday
Constellation Brands released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 1.98 per share on revenue of $2.15 billion, topping estimates of 1.86 per share on revenue of $2 billion. Since the release of its earnings report, Constellation Brands gained 1.45%.
The beer, wine and spirits producer topped out at $226.5 having ended Thursday at $224.64. However, despite early momentum, the stock gave up its gains to now trade at $224.64.
The beer, wine and spirits producer is now trading 15.17% below the significant high of $261.05 it set around 4 months ago. So far this year, it has been under-performing the S&P by 8.19%. The beer, wine and spirit maker's market cap currently stands at $41.45 billion with an average daily trading volume of 1.28 million shares.
Lamb Weston | Retains upward momentum since earnings report Thursday
Lamb Weston released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 1.43 per share on revenue of $1.25 billion, topping estimates of 0.98 per share on revenue of $1.16 billion. Since the release of its earnings report, Lamb Weston gained 2.58%.
Pronounced bullish sentiment in the market helped the food processing company to make a notable 2.58% gain Thursday, rising $2.69 and ultimately closing at $106.86.
Over the past 2 days, the food processing company has retreated 2.52% from a noteworthy peak of $106.86. So far this year, it has performed better than the S&P by 16.32%. Currently, the food processing company has a market capitalization of $15.37 billion with an average daily volume of 1.60 million shares.
