Between the time markets closed on Tuesday and before they opened again on Wednesday, more than 600 U.S.-listed firms reported quarterly results. Here is a roundup of the stocks that reported quarterly results Wednesday morning.

Boeing missed analysts’ consensus estimates on both the top and bottom lines. The shares traded down about 9% shortly after Wednesday’s opening bell.
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General Dynamics beat both top-line and bottom-line estimates and the defense contractor reported a backlog of $129 billion. Shares traded up more than 2%.

Kraft Heinz also beat analysts’ estimates for profits and revenue. Shares traded up by about 2%.

Spotify posted a surprise profit of $0.21 per share, while analysts were looking for a loss per share of $0.23. Revenue was up about 24% year over year. The company’s forecast for subscriber growth in the second quarter was lower than analysts were looking for, however. Shares traded down by more than 8%.

T-Mobile beat the consensus profit estimate but missed by about 1% on revenue. Postpaid (contract) customer churn was less than 1%. Shares traded up less than 3%.

Teck Resources beat both top-line and bottom-line estimates, and shares traded up nearly 12%.

After markets close Wednesday, seven firms we have covered in our previews will report results: Ford, Meta Platforms, PayPal and Qualcomm, as well as Altria, Las Vegas Sands and Sirius XM.

Companies reporting before Thursday’s opening bell will include Caterpillar, Peabody Energy and Southwest Airlines, as well as Comcast, McDonald’s and Twitter.

We already previewed results due Thursday afternoon from Amazon, Apple and Robinhood. This story also includes a roundup of Tuesday afternoon’s earning results.

What follows is a look at three more companies set to report results after markets close Thursday afternoon.

Shares of Intel Corp. (NASDAQ: INTC) have dropped by around 21% over the past 12 months. The chipmaking giant needs to figure out a way to regain market share. In fact, the current 52-week high was set exactly one year ago, falling to a new 52-week low in early March.
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Investors and analysts have a year of rebuilding to look forward to and that comes with the promise of lower shareholder returns. The other issue is whether the rebuilding will matter by the time it is completed. Intel’s dividend yield helps cushion the blow.

Of 42 analysts covering the stock, just 11 have a Buy or Strong Buy rating. There are 22 Hold ratings and nine Sell or Strong Sell ratings. At a recent price of around $45.50 a share, the implied upside based on a median price target of $53 is about 16.5%. At the high target of $72.20, the implied upside is 58.7%.

First-quarter revenue is forecast at $18.32 billion, which would be down 6.2% sequentially but up 1.3% year over year. Adjusted earnings per share (EPS) are forecast at $0.79, down 27.2% sequentially and 43.2% lower year over year. For the 2022 fiscal year, Intel is expected to report EPS of $3.46, down 36.7%, on sales of $75.64 billion, up about 1.2%.

Intel stock trades at 13.1 times expected 2021 EPS, 12.5 times estimated 2023 earnings of $3.64 and 12.1 times estimated 2024 earnings of $3.77 per share. The stock’s 52-week range is $43.63 to $58.63. Intel pays an annual dividend of $1.39 (yield of 3.21%). Total shareholder return over the past year is negative 20.4%.

Roku

Shares of Roku Inc. (NASDAQ: ROKU) have plunged by more than 74% over the past 12 months. From a 52-week high posted in late July, the stock is down almost 81%. The stock tumbled about 9.5% on Tuesday and traded down more than 4% in Wednesday’s premarket session. Netflix’s poor report has poisoned the well for streaming services like Roku. Investors and analysts are concerned about subscriber growth for the streamers. And remember, Roku’s price decline started well before the Netflix disaster.

Of 26 analysts covering the stock, 22 have a Buy or Strong Buy rating. There is just one Hold rating and three Sell ratings. At a share price of around $91.76, the implied upside based on a median price target of $186.50 is 103.2%. At the high target of $240, the implied upside is 161.6%. It is probably safe to say that analysts will be recalibrating those targets following Roku’s quarterly report.
First-quarter revenue is forecast at $1718.56 million, down 17% sequentially but 25% higher year over year. Roku’s loss per share is forecast at $0.21, down sequentially from EPS of $0.17 and down from a profit of $0.54 per share in the year-ago quarter. For the 2022 fiscal year, the company is expected to report a loss per share of $1.20 compared to EPS of $1.71 in 2021. Sales are expected to rise by 34.5% to $3.72 billion.
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Analysts expect the company to post a profit of $0.18 per share in 2023. The stock trades at a multiple of 125.8 times estimated 2024 earnings of $0.73 per share. The stock’s 52-week range is $91.26 to $490.76. Roku does not pay a dividend and total shareholder return for the past year was negative 75.1%.

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U.S. Steel

Over the past 12 months, shares of United States Steel Corp. (NYSE: X) have added more than 30% to their share price. Virtually all that gain has come since the Russian invasion of Ukraine, which has dramatically reduced supply from the world’s second- and third-largest steelmaking countries. Rebar steel prices are softening, however, and have dropped by around 18% since their peak last May. U.S. Steel is still expected to do well, but second-quarter results will turn on whether China can resume production after the recent bout of COVID-19 lockdowns.

Of 12 brokerages covering the shares, only four have a Buy or Strong Buy rating. That is just one more than the number rating the stock a Sell or Strong Sell, and one less than the number with Hold ratings. At a share price of around $32.30, the upside potential to a median price target of $35.50 is 9.9%. At the high target of $50, the upside potential is 41.6%.

First-quarter revenue is expected to come in at $5.26 billion, down 6.4% sequentially and up 43.7% year over year. Adjusted EPS are forecast at $2.95, down 18.9% sequentially and 173% higher year over year. For the 2022 fiscal year, analysts expect U.S. Steel to post EPS of $11.59, down 14%, on sales of $21.23 billion, up 4.7%.

The stock trades at 2.8 times expected 2022 EPS, 8.2 times estimated 2023 earnings of $3.97 and 11.6 times estimated 2024 earnings of $2.81 per share. The stock’s 52-week range is $17.98 to $39.25, and the company pays an annual dividend of $0.20 (yield of 0.63%). Total shareholder return for the past 12 months was 37.6%.

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