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June 10, 2023
Campbell Soup Co, GameStop Corp., Smartsheet Inc. and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Markets closed higher yesterday; Dow Jones closed the day at 33,877, having gained 0.13%. Nasdaq gained 0.16% and closed at 13,259.
Adobe & Kroger Co due to release their earnings reports within the following week.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets were up and stocks have released their quarterly earnings reports. Have a look.
Campbell Soup: mixed results
The company reported earnings results Wednesday; with EPS at 0.7 and revenues at $2.23 billion, these results are mixed compared to a consensus of 0.65 Earnings Per Share and $2.23 billion revenue. Since the release of its earnings report, Campbell Soup Co lost 8.97%.
An influx of sellers pushed the defensive consumer stock to end the session lower around $46.05, while establishing a $46.04 to $46.97 session range yesterday. Daily trading volume (3.35 million shares) increased, making up 106% of the 21-day average (3.18 million).
GameStop | Retains downward momentum since earnings report Wednesday
The company reported earnings of -0.52 per share Wednesday, falling short of expectations of -0.12. Revenue was also lower than expected at $1.24 billion versus $1.36 billion. Since the release of its earnings report, GameStop lost 8.14%
After closing at $21.44 on Thursday, GameStop rallied as high as $23.42 but ended the day at $22.68. Daily trading volume (10.30 million shares) increased, making up 203% of the 21-day average (5 million).
Smartsheet: mixed results
Smartsheet reported inconclusive earnings results Wednesday, with revenue at $219.89 million, compared to a consensus of $214 million. Since the publication of its earnings report, Smartsheet has declined 24.84%.
Pronounced bearish sentiment in the market pushed the US software company into a notable 3.98% slide yesterday, falling $1.61 and ultimately closing at $38.83. Daily trading volume (3.49 million shares) was above the current multiday average of 2 million.
Ollie's Bargain Outlet: mixed results
Ollie's Bargain Outlet reported earnings results Wednesday; with EPS at 0.2 and revenues at $459.15 million, these results are mixed compared to a consensus of 0.48 Earnings Per Share and $451.35 million revenue. Since the release of its earnings report, Ollie's Bargain Outlet lost 0.08%.
Pronounced bullish sentiment in the market helped the discount closeout retailer chain to make a notable 2.51% gain yesterday, rising $1.52 and ultimately closing at $61.96. Trading volume totalled 1 million which equates to around 80% of the stock's 21-day average yesterday.
Thor Industries | Extends $14.31 since strong earnings report Tuesday
Thor Industries was down, even though its quarterly earnings released on Tuesday beat the analysts’ estimates. The reported earnings of 6.32 per share on revenue of $2.93 billion, topping estimates of 1.07 per share on revenue of $2.82 billion.
Slightly down but mostly flat: Thor Industries ranged between $93.16 and $94.94 before closing at $93.47.
The travel trailers and campers company has gained 23.66% since its lowest print of $68.88 earlier this year. Currently, the travel trailers and campers company has a market capitalization of $4.98 billion with an average daily volume of 658,311 shares.
