Be a Smart Investor: June 2022

Thursday, June 30, 2022

Universal Health Services Experiences Significant Shortfall In Operating Results; Cuts Outlook

Universal Health Services, Inc. (UHS) said it estimates second quarter adjusted net income to UHS will be approximate $2.05 to $2.15 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.79. Analysts' estimates typically exclude special items. The company said the lower than expected earnings projected for the second quarter was due primarily to lower than expected patient volumes, revenues and income generated at its acute care hospitals. During April and May of 2022, the company's acute care hospitals experienced a significant decline in COVID-related patients. During the two months, patient volumes, revenues and income generated at the company's behavioral health care facilities were also below its expectations.

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Constellation Brands Maintains FY22 Comparable EPS Outlook; Q1 Results Top Estimates

While reporting financial results for the first quarter of fiscal 2023 on Thursday, beverage alcohol company Constellation Brands, Inc. (STZ) maintained its comparable earnings guidance for the full-year 2023.

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Walgreens Boots Alliance Maintains FY22 Adj. EPS Growth Outlook - Update

While reporting financial results for the third quarter on Thursday, retail pharmacy Walgreens Boots Alliance, Inc. (WBA) maintained its adjusted earnings growth guidance for the full-year 2022, based on year-to-date performance that is tracking broadly in line with expectations.

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UniFirst Slashes FY22 Earnings Outlook As Q3 Adj. EPS Misses Estimates

While reporting financial results for the third quarter on Wednesday, UniFirst Corp. (UNF) slashed its earnings and adjusted earnings outlook for the full-year 2022, while raising annual revenue outlook.

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Paychex Guides FY23 Adj. EPS Above View As Q4 Results Top Estimates

While reporting financial results for the fourth quarter and fiscal 2022 on Thursday, payroll and HR services provider Paychex Inc. (PAYX) initiated adjusted earnings guidance for the full year 2023, above analysts' estimates.

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Bed Bath & Beyond Q1 Results Miss Estimates

Home improvement retailer Bed Bath & Beyond, Inc. (BBBY) reported on Wednesday a net loss for first quarter that sharply widened from last year, hurt by hefty transient costs related to inventory markdown reserves and port-related supply chain fees. Both adjusted loss per share and net sales missed analysts' expectations.

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Patterson Companies Initiates FY23 Earnings Guidance

Patterson Companies, Inc. (PDCO) said it delivered an excellent fourth quarter, culminating a year in which the company delivered both top and bottom line growth that exceeded its expectations. The company's fiscal 2023 guidance anticipates delivering year-over-year revenue growth and operating margin expansion.

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General Mills Initiates FY23 Outlook; Boosts Qtly Dividend 6% - Update

While reporting financial results for the fourth quarter and fiscal 2022 on Wednesday, branded food company General Mills, Inc. (GIS) initiated constant-currency adjusted earnings per share and organic net sales growth guidance for the full-year 2023.

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McCormick Slashes FY22 Earnings Outlook - Update

While reporting financial results for the second quarter on Wednesday, flavor maker McCormick & Co., Inc. (MKC) trimmed its earnings and adjusted earnings guidance for the full year 2022, while maintaining annual sales growth outlook.

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TD SYNNEX Q2 Results Top Estimates; Reaffirms FY22 Adj. EPS Outlook

TD SYNNEX (SNX) reported Tuesday that net income for the second quarter was $148.92 million or $1.55 per share, compared to $93.10 million or $1.78 per share in the prior-year quarter.

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Darden Restaurants Issues FY23 Guidance; Increases Dividend

Darden Restaurants, Inc. (DRI) announced, for fiscal 2023, the company expects: total sales of $10.2 to $10.4 billion; same-restaurant sales growth of 4% to 6%; and net earnings per share from continuing operations of $7.40 to $8.00.

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Rite Aid Boosts FY22 Revenues Outlook As Q1 Results Come Above Estimates

While reporting financial results for the first quarter of fiscal 2022 on Thursday, drugstore chain Rite Aid Corp. (RAD) raised it total revenue guidance for the full-year 2022, due to increased utilization of higher cost drugs at Elixir.

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Accenture Trims FY22 EPS Outlook; Raises Dividend 10% - Update

While reporting financial results for the third quarter on Thursday, professional services company Accenture Plc (ACN) trims its earnings outlook for the full-year 2022 and also provided revenue outlook for the fourth quarter.

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Apogee Enterprises Boosts FY23 Outlook As Q1 Results Top View

While reporting financial results for the first quarter on Thursday, Apogee Enterprises, Inc. (APOG) raised its adjusted earnings guidance for the full-year 2023, based on first-quarter results and increasing confidence in its outlook.

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Lennar Q2 Profit Rises; Total Revenues Up 30%

Lennar Corporation (LEN) reported that its second quarter net earnings increased 49% year-on-year, excluding mark-to-market losses on technology investments in both years and the gain on the sale of the residential solar business in the prior year. Deliveries increased 14% to 16,549 homes during the quarter. New orders increased 4% to 17,792 homes.

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Kroger Boosts FY22 Outlook - Update

While reporting financial results for the third quarter on Thursday, supermarket chain Kroger Co. (KR) raised its adjusted earnings and identical sales outlook for the full-year 2022.

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Jabil Again Boosts FY22 Outlook - Update

While reporting preliminary, unaudited financial results for the third quarter on Thursday, Jabil Inc. (JBL) raised its core earnings and revenue guidance for the full-year 2022, based on solid demand in key areas of its business. The company also provided financial outlook for the fourth quarter.

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Commercial Metals Q3 Results Top Estimates

Commercial Metals Co. (CMC) on Thursday reported that net earnings for the third quarter soared to $312.43 million or $2.54 per share from $130.41 million or $1.07 per share in the prior-year quarter.

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NextEra Energy Raises Earnings Guidance

NextEra Energy, Inc. (NEE) said it is increasing adjusted earnings per share expectations for 2022, 2023, 2024 and 2025. The company now expects adjusted earnings per share for 2022 to be in the range of $2.80 to $2.90. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.82. Analysts' estimates typically exclude special items.

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FuelCell Energy Q2 Results Miss Estimates

Clean energy technology company FuelCell Energy, Inc. (FCEL) on Thursday reported a second-quarter net loss attributable to common stockholders of $31.02 million or $0.08 per share, wider than $19.72 million or $0.06 per share in the prior-year quarter.

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Campbell Soup Q3 Adj. Profit Rises, Organic Net Sales Up 9%; Reaffirms FY22 Adj. EPS Guidance

Campbell Soup Company (CPB) said the company had a strong recovery across the business in the third quarter with high-single-digit sales growth driven by sustained consumer demand for its brands and significantly improved supply. Looking forward, the company raised its fiscal 2022 net sales outlook reflecting strong year-to-date performance. However, the company reaffirmed prior adjusted EBIT and adjusted EPS guidance reflecting the on-going inflation-driven margin pressure.

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Cracker Barrel Guides Q4 Net Sales Growth Well Below Estimates; Declares Dividend - Update

While reporting financial results for the third quarter on Tuesday, Cracker Barrel Old Country Store, Inc. (CBRL) said it anticipates fourth-quarter revenue to be approximately 8.0% above the prior year fourth quarter.

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United Natural Foods Boosts FY22 Adj. EPS, Net Sales Outlook - Update

While reporting financial results for the third quarter on Tuesday, United Natural Foods, Inc. (UNFI) raised its adjusted earnings and net sales guidance for the full-year 2022.

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J. M. Smucker Guides FY23 Well Below Estimates - Update

While reporting financial results for the fourth quarter on Tuesday, consumer goods company J. M. Smucker Co. (SJM) initiated guidance for adjusted earnings and net sales growth for the full-year 2023.

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COO Boosts Revenue Outlook, GTH On Watch, PHR Forecasts 27% To 29% Revenue Growth...

Phreesia Inc. (PHR), which provides healthcare organizations a suite of robust applications to manage the patient intake process, has reported strong financial results for the fiscal first quarter ended April 30, 2022.

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AFMD To Report REDIRECT Data In Q4, VEEV Boosts EPS & Revenue Outlook, MESO At Work

Affimed N.V. (AFMD) expects to report topline data from its REDIRECT study in the fourth quarter of 2022. REDIRECT is a phase II, registration-directed study of its lead drug candidate AFM13 as monotherapy in patients with relapsed or refractory CD30-positive peripheral T-cell lymphoma.

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