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May 20, 2023
Companhia Paranaense de Energia – COPEL, Ross Stores Inc, Advanced Drainage Systems, Inc. and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Leading equity indices in the US declined as Dow Jones shed 0.33% and closed at 33,427. After dropping 0.24%, Nasdaq closed at 12,658.
3Rd quarter earnings season is mostly over, with Deere & Company & Catalent Inc releasing their earnings reports just this 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 down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Companhia Paranaense de Energia | Retains downward momentum since earnings report Thursday
The company reported earnings of 0.05 per share and revenue at $5.53 billion. Since the release of its earnings report Thursday, Companhia Paranaense de Energia – COPEL lost 1.47%.
Pronounced bearish market sentiment ensured that the Brazilian utilities giant made a notable 0.27% loss yesterday, declining 2 cents and ultimately closing at $7.38. Daily trading volume (363,559 shares) was above the current multiday average of 219,129.
Ross | Bounces 97 cents since downbeat earnings report Thursday
The company reported earnings of 0.97 per share Thursday, falling short of expectations of 1.06. Revenue was also lower than expected at $4.49 billion versus $4.50 billion. Although earnings did not match projections, Ross gained 0.93% since the release of its earnings report.
Early in yesterday's session, Ross Stores dropped to $99.2 from $105.38 at the end of Thursday, before closing at $104.76. During the session, it lost 0.59%. Daily trading volume (5.95 million shares) increased, making up 281% of the 21-day average (2.12 million).
Advanced Drainage Systems | Retains upward momentum since earnings report Thursday
Advanced Drainage Systems was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.95 per share on revenue of $617.56 million, topping estimates of 0.77 per share on revenue of $562.75 million.
An influx of sellers pushed the industrial piping supplier to session lows around $95.15 while establishing a $95.15 to $100.6 session range yesterday.
Advanced Drainage Systems hit a significant low of $75.96 around 2 months ago, but has since recovered 29.54%. So far this year, it has been outperforming the Nasdaq by 0.47%. Currently, the plastics pipe company has a market capitalization of $7.84 billion with an average daily volume of 586,067 shares.
Dynatrace: mixed results
Dynatrace reported earnings results Wednesday, with EPS at 0.07 and revenues at $314.48 million; these results are mixed when compared to a consensus of 0.22 Earnings Per Share and $304.96 million revenue. Since the release of its earnings report, Dynatrace gained 4.74%.
Without a clear direction, Dynatrace closed at $49.03 while ranging between $48.6 and $49.44. Yesterday's trading volume was 2.68 million shares which is slightly under the 21-day average of 3.23 million.
