Earnings Previews: GoHealth, Jabil, Markforged, SentinelOne
In a relatively unusual move, fuel cell maker Ballard Power reported quarterly earnings after markets closed last Friday. The company beat revenue expectations with an increase of more than 28% year over year. Ballard forecast operating expenses totaling $140 million to $160 million for the current fiscal year, an increase from around $100 million in fiscal 2021. Capital spending is also shooting higher, from $14.7 in 2021 to a range of $40 million to $60 million. Shares traded down more than 4% shortly after Monday’s opening bell.
After markets close Monday and before they open on Tuesday, Coupa Software, CTI BioPharma and Westport Fuel are scheduled to report quarterly results.
Here is a look at four companies set to report results after Tuesday’s closing bell and first thing Wednesday morning.
GoHealth
Online health insurance and Medicare Advantage marketplace GoHealth Inc. (NASDAQ: GOCO) has seen its share price plunge by nearly 90% over the past 12 months. In January, Chief Financial Officer Vance Johnson resigned after barely two months in the position, never a positive indicator to investors, but the big hit came last August when the company posted a much bigger loss than expected, even though revenue rose 55% year over year. A recently proposed change to contract rates for Medicare Advantage plans did not help GoHealth either. The company reports results after markets close Tuesday.
Of nine brokerages covering the company, six have rated the stock at Hold, one has a Buy rating and two have a Strong Sell rating. At a recent price of around $1.00 a share, the upside potential based on a median price target of $2.00 is 100%. At the high price target of $4.50, the upside potential is 350%.
Fourth-quarter revenue is forecast at $480.61 million, which would be up 127% sequentially and about 7.8% higher year over year. GoHealth’s adjusted loss per share is forecast at $0.11, down sequentially from a loss of $0.17 and down year over year from adjusted earnings per share (EPS) of $0.12. For the full 2021 fiscal year, the company is expected to a loss per share of $0.28, down from EPS of $2.29 in 2020, on sales of $1.14 billion, up nearly 30%.
GoHealth trades at 3.7 times expected 2022 EPS of $0.27 and 1.6 times estimated 2023 earnings of $0.62. The stock’s 52-week range is $0.99 to $12.39, and the low was posted early Monday morning. GoHealth does not pay a dividend. Total shareholder return for the past year is negative 90.1%.
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