Top Earnings Movers for Tuesday, March 21, 2023
Top Earnings Movers
ProFrac Holding Beat Expectations
ProFrac Holding (ACDC) reported earnings of $1.46 per share on revenue of $794.10 million for the fourth quarter ended December 2022. The consensus earnings estimate was $0.96 per share on revenue of $799.08 million. The Earnings Whisper number was $1.07 per share. The company beat expectations by 36.45%.
The stock stock is currently trading at $12.15, which is down 17.2% on the day, with volume of 2.3 million shares.
On Holding AG Missed Expectations
On Holding AG (ONON) reported earnings of $0.05 per share on revenue of $380.85 million for the fourth quarter ended December 2022. The consensus earnings estimate was $0.08 per share. The Earnings Whisper number was $0.08 per share. The company missed expectations by 37.50% while revenue grew 83.71% on a year-over-year basis.
The stock stock is currently trading at $27.16, which is up 25.9% on the day, with volume of 24.7 million shares. This is more than 10 times the average volume of 2.3 million shares over the past quarter. The stock has averaged a move of 9.9% on earnings over the past six quarters and options were priced for a 16.7% move.
The company said it expects 2023 revenue of at least $1.84 billion. The current consensus revenue estimate is $1.65 billion for the year ending December 31, 2023.
"The exceptional ongoing momentum across all regions, channels and product groups, combined with a normalization of product supply and significantly improved inventory position versus twelve months ago, has set On up to hit the ground running in 2023."
On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds.
Canadian Solar Beat Expectations
Canadian Solar (CSIQ) reported earnings of $1.11 per share on revenue of $1.97 billion for the fourth quarter ended December 2022. The consensus earnings estimate was $0.76 per share on revenue of $1.93 billion. The Earnings Whisper number was $0.84 per share. The company beat expectations by 32.14% while revenue grew 28.97% on a year-over-year basis.
The stock stock is currently trading at $41.46, which is up 15.6% on the day, with volume of 4.0 million shares. This is more than 3 times the average volume of 1.0 million shares over the past quarter. The stock has averaged a move of 5.0% on earnings over the past six quarters and options were priced for a 8.6% move.
The company said it expects first quarter revenue of $1.60 billion to $1.80 billion and revenue of $8.50 billion to $9.50 billion. The current consensus revenue estimate is $1.95 billion for the quarter ending March 31, 2023 and revenue of $9.92 billion for the year ending December 31, 2023.
Dr. Shawn Qu, Chairman and CEO, commented, "We achieved record financial results in 2022, with revenue increasing 42% and net income attributable to shareholders increasing 152%. Our company and industry are at a critical turning point as we transition towards a grid parity market where clean energy investments are attractive both economically and from a sustainability standpoint, unlocking significant global demand."
Canadian Solar Inc is a solar power company. The Company designs, develops, and manufactures solar wafers, cells and solar power products.
Terran Orbital Missed Consensus Estimates
Terran Orbital (LLAP) reported a loss of $0.31 per share on revenue of $31.92 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.21 per share on revenue of $30.80 million. The company missed consensus estimates by 47.62%.
The stock stock is currently trading at $1.59, which is down 8.1% on the day, with volume of 14.4 million shares. This is more than 3 times the average volume of 4.3 million shares over the past quarter. The stock has averaged a move of 2.0% on earnings over the past six quarters and options were priced for a 37.6% move.
Terran Orbital is the leading manufacturer of small satellites primarily serving the United States aerospace and defense industry.
Bitfarms Ltd. Beat Consensus Estimates
Bitfarms Ltd. (BITF) reported a loss of $0.07 per share on revenue of $27.04 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.08 per share on revenue of $25.60 million. The company beat consensus estimates by 12.50% while revenue fell 54.63% compared to the same quarter a year ago.
The stock stock is currently trading at $1.03, which is up 13.2% on the day, with volume of 4.9 million shares. The average daily volume over the past quarter was 4.0 million. The stock has averaged a move of 8.5% on earnings over the past six quarters and options were priced for a 36.3% move.
HUYA Reported In-line with Expectations
HUYA (HUYA) reported a loss of $0.28 per share on revenue of $304.79 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.33 per share on revenue of $310.50 million. The Earnings Whisper number was a loss of $0.28 per share. The company reported in-line with expectations while revenue fell 30.85% compared to the same quarter a year ago.
The stock stock is currently trading at $3.37, which is down 14.0% on the day, with volume of 2.8 million shares. The average daily volume over the past quarter was 2.5 million. The stock has averaged a move of 11.1% on earnings over the past six quarters and options were priced for a 30.0% move.
HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community.