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April 12, 2023
Carmax Inc, Albertsons Companies, Inc., Tilray, Inc. and other stocks published their quarterly earnings. Here's what you need to know.
Markets completed a mixed session yesterday, as Nasdaq slipped 0.43% and closed at 12,032. Dow Jones gained 0.29% and closed at 33,700.
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 are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Carmax: EPS of zero, Revenue of $5.72 billion
Carmax Inc trades at $72.21 after the company released its quarterly results.
The used car dealer rose as high as $73.57 before giving up its gains and dropping back to $72.21 before the close on yesterday. Daily trading volume (12.66 million shares) was above the current multiday average of 3.15 million.
Albertsons Companies: EPS of zero, Revenue of $18.27 billion
Following the release of quarterly results, Albertsons Companies trades at $20.87.
After ending Monday at $21.21, Albertsons Companies declined to $20.73 yesterday before closing at $20.87, thereby losing 1.6% in total. Daily trading volume (7.62 million shares) increased, making up 140% of the 21-day average (5.45 million).
Tilray: mixed results
The company reported mixed earnings results Monday, with EPS at -0.04 and revenues at $145.59 million. Since the release of its earnings report, Tilray lost 3.08%.
After ending Monday at $2.74, Tilray dropped to $2.46 early in yesterday's session and closed at $2.52. In total, it lost 8.03%. Daily trading volume (22.19 million shares) was higher than the current multiday average of 11.68 million.
RPM International | beats expected EPS of 0.3
The company released its quarterly earnings Thursday, beating analysts estimates. The company 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. Since the release of its earnings report, RPM International lost 2.64%.
RPM International closed a flat day of trading at $82.1 yesterday after ending Monday at $82.14. Trading volume totalled 731,782 which equates to around 83% of the stock's 21-day average yesterday.
Constellation Brands | Extends $6.72 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 3.03%.
Ending Monday at $224.6, the beer, wine and spirit maker rallied 1.59% yesterday and stayed at the $228.16 level.
Approximately 4 months ago, the beer, wine and spirits producer reached a significant high of $261.05 but has struggled to hold onto its gains and declined 13.96% since then. So far this year, it has been doing worse than the S&P 500 by 6.69%. The company is currently trading with a market cap of $42 billion with an average daily volume of 1.32 million shares.
