In this article, we will take a look at the 10 latest earnings to watch. If you want to see some other much-awaited earnings reports, go directly to 5 Latest Earnings to Watch.
U.S. stock futures tied to S&P 500 and Dow Jones Industrial Average rose in the mid-day trading session on Wednesday. However, tech-heavy Nasdaq Composite turned red after disappointing quarterly results from Alphabet Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT).
Alphabet Inc. (NASDAQ:GOOG) shares tumbled after the search engine company failed to meet financial expectations for Q3, primarily due to weak ad sales. On the other hand, Microsoft Corporation (NASDAQ:MSFT) shares also slid after issuing a soft sales outlook for the current quarter.
On the bright side, investors cheered the latest financial results of digital payments giant Visa Inc. (NYSE:V) and energy behemoth Halliburton Company (NYSE:HAL). Check out the complete article to see some other much-awaited earnings reports.
Photo by Kai Wenzel on Unsplash
10. Automatic Data Processing, Inc. (NASDAQ:ADP)
Number of Hedge Fund Holders: 39
Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) rose over four percent this morning after the business outsourcing solutions provider beat profit and sales expectations for its fiscal first quarter.
Automatic Data Processing, Inc. (NASDAQ:ADP) reported adjusted earnings of $1.86 per share, topping expectations of $1.80 per share. Revenue for the quarter rose 10 percent versus last year to $4.21 billion, ahead of the consensus of $4.16 billion
For its fiscal year 2023, Automatic Data Processing, Inc. (NASDAQ:ADP) guided for adjusted earnings growth in the range of 15 – 17 percent and sales growth between 8 – 9 percent on a year-over-year basis.
9. The Kraft Heinz Company (NASDAQ:KHC)
Number of Hedge Fund Holders: 41
Shares of The Kraft Heinz Company (NASDAQ:KHC) rose to a nearly two-month high before the opening bell on Wednesday following the company’s better-than-expected results for the third quarter.
The Kraft Heinz Company (NASDAQ:KHC) primarily benefitted from price hikes that reduced the impact of rising costs on its business. The food and beverage company reported earnings of 63 cents per share, down from 65 cents per share in the year-ago period but above the consensus of 56 cents.
In addition, The Kraft Heinz Company (NASDAQ:KHC) generated revenue of $6.51 billion, up 2.9 percent over the corresponding period of 2021. The numbers came above the expectations of $6.27 billion.
U.S. packaged food makers, including The Kraft Heinz Company (NASDAQ:KHC), have gradually increased product prices over the last year to minimize the impact of elevated costs. Many expect additional price hikes from the company in the coming months.
8. Halliburton Company (NYSE:HAL)
Number of Hedge Fund Holders: 43
Halliburton Company (NYSE:HAL) recently caught investors’ attention after delivering impressive results for the third quarter. The oil field service company’s latest performance was primarily driven by a sharp surge in drilling activity during the quarter.
For the September quarter, Halliburton Company (NYSE:HAL) reported earnings of 60 cents per share, significantly higher than 28 cents per share in the year-ago period. Revenue for the quarter also climbed 39 percent versus last year to $5.4 billion. The results exceeded the consensus of 56 cents per share for earnings and $5.3 billion for revenue.
Halliburton Company (NYSE:HAL) also released its region-wise sales results. Revenue from North America jumped 9 percent on a sequential basis to $2.6 billion, while international revenue rose 3 percent to $2.7 billion in the quarter.
Looking forward, analysts expect Halliburton Company (NYSE:HAL) to benefit from increased drilling activity around the world. Halliburton stock has already advanced nearly 50 percent on a year-to-date basis.
7. The Boeing Company (NYSE:BA)
Number of Hedge Fund Holders: 51
The Boeing Company (NYSE:BA) released its financial results for the third quarter before the opening bell on Wednesday. The aerospace giant disappointed investors by posting an adjusted loss of $6.18 per share, contrary to the consensus forecast calling for 7 cents per share earnings.
The quarterly revenue of $15.96 billion also missed analysts’ average estimate of $17.76 billion. On the bright side, The Boeing Company (NYSE:BA) generated a free cash flow of about $2.9 billion in the quarter, smashing the expectations of $1 billion.
Discussing the results, CEO of The Boeing Company (NYSE:BA), Dave Calhoun, said in a statement:
“We generated strong cash in the quarter and are on a solid path to achieving positive free cash flow for 2022. At the same time, revenue and earnings were significantly impacted by losses on our fixed-price defense development programs. We’re squarely focused on maturing these programs, mitigating risks and delivering for our customers and their important missions.”
Like The Boeing Company (NYSE:BA), Alphabet Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT) and Visa Inc. (NYSE:V) are also on the list of 10 latest earnings to watch.
6. Texas Instruments Incorporated (NASDAQ:TXN)
Number of Hedge Fund Holders: 55
Texas Instruments Incorporated (NASDAQ:TXN) beat financial expectations for the third quarter. However, it issued a weak outlook for the fourth quarter, sending its shares down more than four percent on Wednesday morning.
The semiconductor company reported earnings of $2.47 per share on revenue of $5.24 billion. This compares to earnings of $2.07 per share and revenue of $4.64 billion posted by Texas Instruments Incorporated (NASDAQ:TXN) for the corresponding period of 2021. Meanwhile, analysts expected the company to earn $2.39 per share on sales of $5.14 billion.
Nevertheless, the better-than-expected performance for Q3 was overshadowed by a disappointing sales outlook for Q4. Texas Instruments Incorporated (NASDAQ:TXN) guided for revenue in the range of $4.4 – $4.8 billion for the current quarter, below the consensus of $4.94 billion. The company blamed softening demand across every sector for the weakness.
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Disclosure: None. 10 Latest Earnings to Watch is originally published on Insider Monkey.