Investing

Earnings Hits and Misses for Tuesday, May 18

Here’s a quick look at several earnings reports that were released after markets closed on Monday or before Tuesday’s opening bell.

ExOne Co. (NASDAQ: XONE) missed expectations on both the top and bottom lines. The consensus first-quarter estimates called for a loss per share of $0.21 on sales of $14.31 million. The 3D printing company posted a loss per share of $0.29 on sales of $13.02 million. ExOne did reaffirm its fiscal year guidance for revenue growth of 15% to 25% “based on record backlog, new product launches and improving macroeconomic conditions.”

Shares traded down about 7.5% just after Tuesday’s opening bell, at $17.92 in a 52-week range of $7.65 to $66.48. The consensus price target on the stock is $44.25.

Fisker Inc. (NYSE: FSR) beat the consensus estimate for a per-share loss of $0.16 by five cents, reporting a loss per share of $0.11. No revenue was expected, and the electric vehicle (EV) maker did not surprise on that front. Fisker raised its expected full-year operating expenses from a range of $210 million to $240 million to a new range of $240 million to $270 million. Capital spending was maintained at a range of $210 million to $240 million. The company closed the quarter with $993 million in cash.

Shares traded up about 2.6% to $11.51, in a 52-week range of $8.70 to $31.96. The consensus price target is $26.00.

Canoo Inc. (NASDAQ: GOEV) posted a GAAP loss per share of $0.07, much better than the expected loss per share of $0.23 in the first quarter. The EV maker, like Fisker, reported no revenue. The worst news was the revelation of an SEC investigation, joining other EV makers Nikola and Lordstown that have attracted the SEC’s interest.

Shares traded down 3.7% early Tuesday to $7.27, in a 52-week range of $6.51 to $24.90. The consensus price target is $12.00.

Tencent Music Entertainment Group Inc. (NYSE: TME) posted earnings per American depositary share of $0.69, four cents below the consensus estimate. Revenue came in nearly 24% higher year over year and slightly below the consensus $1.2 billion. The bad news was that user numbers were down year over year.

Shares traded down about 3%, at $14.83 in a 52-week range of $11.68 to $32.25. The consensus price target is $27.28.

Walmart Inc. (NYSE: WMT) beat expectations on both the top and bottom lines, with earnings per share EPS of $1.69, compared with the estimate of $1.21, and revenue of $138.3 billion, against an estimate of $131.5 billion. U.S. same-store sales were up 6% year over year. Fiscal year EPS guidance was raised to a range of $5.00 to $5.15.

Shares traded up 3.7% to $144.09, in a 52-week range of $117.01 to $153.66. The consensus price target is $159.38.

Home Depot Inc. (NYSE: HD) also hammered top-line and bottom-line estimates, posting EPS of $3.86, compared with a consensus estimate of $2.93, and revenue of $37.5 billion, compared with the projected $33.7 billion. U.S. same-store sales for the quarter were up 29.9% year over year.

Shares traded up 0.8%, at $322.67 in a 52-week range of $234.31 to $345.69. The consensus price target is $333.59.

Macy’s Inc. (NYSE: M) posted a big earnings surprise, with EPS of $0.38 much better than the consensus estimate for a per-share loss of $0.47. Revenue also beat expectations and was 56% higher than in the same quarter last year. Same-store sales at Macy’s-owned stores were up 62.5% year over year, but still down 10.5% compared with 2019. Macy’s raised fiscal year EPS guidance to from a range of $0.40 to $0.90 to a new range of $1.71 to $2.12.

Shares traded up about 1.4%, at $19.42 in a 52-week range of $4.91 to $22.30. The consensus price target is $13.65.

Baidu Inc. (NASDAQ: BIDU) joined the party by beating estimates on both the top and bottom lines. EPS of $1.93 exceeded the consensus of $1.66, and revenue of $4.38 billion topped estimates of $4.22 billion.

Shares traded up fractionally to $189.75 early Tuesday. The 52-week range is $102.60 to $354.82, and the consensus price target is $346.50.

iQiyi Inc. (NASDAQ: IQ) also beat top-line and bottom-line estimates, with a loss per share of $0.25, compared with an expected loss of $0.40 per share. Revenue totaled $1.24 billion, compared with an estimate of $1.18 billion. iQiyi lowered its guidance for the current quarter to a new range of $1.12 billion to $1.19 billion, below the consensus estimate of $1.24 billion.

Shares still popped 11% to $14.05, in a 52-week range of $12.14 to $28.97. The consensus price target is $24.17.