Earnings Drift Grades: stocks graded on post-earnings drift

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Management expects second quarter net revenue to grow year over year, driven by 8 percent to 12 percent growth in global medical cannabis. They forecast adjusted EBITDA will continue positive and grow compared to first quarter. Free cash flow is expected positive for the full year, though second quarter will have large cash outflows from normal operations.

Call summary: Aurora delivered 98 million dollars in first quarter revenue, up 17 percent year over year, driven by global medical cannabis sales jumping 37 percent and international business surging 85 percent. Adjusted gross margin expanded dramatically to 52 percent from last year. Management highlighted strong execution across Australia, Germany, Poland, and the U.K., with Poland recovering from prior regulatory headwinds and new premium products launching successfully.

+ EPS beat estimates by 228.1%

− Revenue missed estimates by 47.7%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Amgen raised its 2026 outlook to revenue between 37.1 billion and 38.5 billion dollars, and earnings per share between 21.70 and 23.10 dollars. The company expects its fast-growing medicines like Repatha and Evenity to offset patent losses. Management said capital spending will remain at about 2.6 billion dollars to scale manufacturing for new drug launches.

Call summary: Amgen had a strong first quarter with earnings per share of 5.15 dollars beating expectations of 4.73 dollars. Six key medicines grew sales by 24 percent year over year and now make up 70 percent of total sales. The obesity drug Meritide is advancing well in late-stage testing with new studies showing better tolerance when patients take it less frequently, potentially every eight to twelve weeks instead of weekly injections.

+ EPS beat estimates by 6.1%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Cardinal Health raised its full year earnings guidance to between $9.65 and $9.85 per share, up 35 cents from prior guidance. The company expects Pharma profit to grow 16 to 19 percent for the year, driven by strong drug demand and the Solaris Health acquisition closing soon. Free cash flow is now guided to $3 billion to $3.5 billion for the full year, up from prior range.

Call summary: Cardinal Health reported first quarter revenue of $60.9 billion, up 22 percent year over year, with earnings per share of $3.17 beating consensus of $2.80. The company saw broad strength across all five business segments, particularly in pharmaceutical specialty solutions where profit grew 26 percent and specialty drug sales benefited from GLP-1 demand growth. The strong quarter reflected execution on strategy, successful integration of acquisitions, and robust underlying pharmaceutical utilization trends across the market.

+ EPS beat estimates by 12.6%

− Revenue missed estimates by 2.2%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

− EPS missed estimates by 2.9%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Management expects advertising revenue to maintain rapid growth in Q2 and beyond, backed by AI improvements. They plan to spend around 500 million yuan more on AI this year. Gross margin should keep improving, heading toward a long-term target of 45 percent. Operating profit ratio should reach 15 to 20 percent over the medium to long term.

Call summary: Bilibili had a solid quarter despite overall revenue coming in below expectations at 7.4 billion yuan, down from the 8.1 billion yuan consensus. The company beat on advertising revenue growth, which surged 30 percent year-over-year to 2.6 billion yuan, and user engagement remained strong with daily active users reaching 115 million and time spent per user up 11 minutes. The game business declined 12 percent because of an easy comparison from last year, and overall earnings per share at 0.09 yuan missed the 0.17 yuan consensus. However, adjusted net profit rose 62 percent, showing real operational leverage in the core business.

+ EPS beat estimates by 13.5%

− Revenue missed estimates by 7.9%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Carnival raised 2026 earnings guidance to $2.21 per share, up from December view, despite a $0.38 per share hit from higher fuel costs. The company expects about $7 billion in EBITDA this year and projects yield growth of 2.75 percent. Management introduced a new three-year plan called PROPEL targeting earnings growth above 50 percent by 2029 and returning $14 billion to shareholders.

Call summary: Carnival delivered record first quarter results with $275 million in net income, beating guidance by $0.03 per share. Strong demand continued with nearly 85 percent of 2026 sailings booked and customer deposits hit a record $8 billion. Management emphasized cost discipline, noting the company saved $650 million this year alone through fuel consumption reductions, and announced a new $2.5 billion buyback program as part of broader shareholder return plans.

+ EPS beat estimates by 7.3%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Management did not provide specific financial guidance for coming quarters or full year 2026. They discussed strategic priorities including shelf space gains of about 17 percent for CELSIUS and over 100 percent for Alani, additional innovation launches, and margin improvement opportunities through 2027, but gave no numerical targets for revenue or earnings.

Call summary: Celsius Holdings reported record first quarter revenue of $783 million, driven by strong performance in Alani Nu with 60 percent pro forma growth and CELSIUS brand revenue of $348 million, though CELSIUS growth moderated to 6 percent year over year. The company completed its Alani Nu integration capturing $50 million in synergies, achieved 20.9 percent portfolio market share in tracked channels as of mid-April, and activated new partnerships including Formula One and global soccer tournament sponsorships. Management highlighted successful limited time offers like Alani's Lime Slush and CELSIUS's forthcoming Electric Vibe flavor, SKU optimization, and fizz-free expansion, while noting that elevated aluminum and freight costs may slow the path back to low 50 percent gross margins in the near term.

+ EPS beat estimates by 35.5%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Camden kept its full-year earnings forecast of 6.75 dollars per share unchanged. For the second quarter, they expect earnings between 1.65 and 1.69 dollars per share, a small step down from first quarter due to seasonal maintenance costs and salary increases.

Call summary: First quarter delivered 1.70 dollars per share in core FFO, beating guidance by 4 cents, mainly from lower-than-expected bad debt and strong resident collections. Occupancy climbed to 95.4 percent in April with blended lease rates up about 100 basis points, showing spring leasing momentum as supply pressure eases across markets. Management expects a strong third quarter and atypical fourth quarter as new apartment supply absorption continues, with Texas markets like Dallas, Austin, and Houston leading the recovery despite sentiment headwinds.

+ EPS beat estimates by 43.4%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: DexCom reaffirmed full-year revenue guidance of about $5.18 billion, representing growth of eleven to thirteen percent. The company raised full-year operating profit and EBITDA margin guidance, citing strong cost control and manufacturing improvements. Management expects continued momentum from the G7 15-day product launch and potential coverage expansion for type 2 non-insulin patients later in the year.

Call summary: DexCom delivered first-quarter revenue of $1.19 billion, up fifteen percent year over year, with strong international growth of twenty-six percent. The company achieved record global new patient starts and grew U.S. market share significantly in the type 2 non-insulin segment, driven by the G7 15-day launch and better product algorithms. Management highlighted upcoming announcements including randomized control trial results at the ADA conference and new basal insulin features designed to simplify diabetes treatment.

+ EPS beat estimates by 17.0%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Management expects organic sales to decline between five and nine percent for the full year, with most of that decline happening in the first half. They project the second half will show low single-digit positive growth driven by new product launches and increased marketing spending. Earnings per share is expected near the low end of their range at about five dollars and ninety-five cents, before adding back the ninety cents from the ERP transition costs.

Call summary: Clorox had a rough quarter with one billion six hundred seventy million dollars in sales that missed the street target slightly, hurt by an enterprise software system implementation that caused out-of-stocks and lost market share, mainly in August. The company beat on earnings at one dollar sixty-four cents per share versus one forty-eight expected, but management admitted they lost more share than wanted and will refocus on new products for trash bags, cat litter, and other brands in the back half. They are holding investment spending steady and believe the new computer system will help them respond faster to customers once disruption settles down.

+ EPS beat estimates by 4.7%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Management raised full year revenue and earnings guidance. The company now expects $7.39 to $7.49 billion in annual revenue with core growth of 4.5 to 6.0 percent, up 30 basis points from prior guidance. Earnings per share guidance increased to $6.00 to $6.10, up 8 cents at the midpoint. For the third quarter, they forecast $1.83 to $1.85 billion in revenue with EPS of $1.48 to $1.50.

Call summary: Agilent delivered a strong second quarter with $1.83 billion in revenue, up 6.3 percent core growth and beating guidance by 80 basis points. Earnings per share came in at $1.49, beating expectations by 7 cents and growing 14 percent year over year. Operating margin expanded 130 basis points to 26.4 percent, well ahead of guidance. The company is seeing robust momentum across its instrument business with double digit growth in LC LCMS and GC driven by replacement cycles and share gains. Diagnostics grew 11 percent led by the Omnis family and cancer offerings. Strategic pricing delivered over 200 basis points of contribution, exceeding the annual target of 100 basis points at midyear. Management credited the Ignite operating system for driving execution excellence and structural improvements.

+ EPS beat estimates by 3.8%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Company expects 2 to 4 percent room night growth next quarter due to Middle East conflict continuing through end of June. For full year 2026, they now guide gross bookings growth to high single digits to low double digits, with adjusted EPS up low to mid teens, both down from prior guidance at midpoint but high end remains intact.

Call summary: Booking delivered 338 million room nights in the quarter, up 6 percent year over year, with revenue of 5 point 5 billion, up 16 percent. The Middle East conflict that began late February reduced growth by roughly 2 percentage points and caused elevated cancellations in March. Despite this, U.S. room nights accelerated to low teens growth for the fourth quarter in a row, and the company remains confident in long term travel demand recovery.

+ EPS beat estimates by 3.6%

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: ADP reaffirmed its full year revenue growth of 5 to 6 percent and adjusted earnings per share growth of 8 to 10 percent. The company expects employer services revenue to grow 5 to 6 percent for the year, with flat pays per control. PEO revenue is expected to grow 5 to 7 percent, with worksite employee growth of 2 to 3 percent. Client funds interest revenue was raised by 10 million dollars to 1.30 to 1.32 billion dollars.

Call summary: ADP delivered solid first quarter results with 7 percent revenue growth and 7 percent adjusted earnings per share growth. Employer services bookings accelerated, with strong momentum in ADP Lyric HCM and Workforce Now Next-Gen capturing 80 percent of new mid-market sales. Pays per control rounded to zero percent as clients remained cautious about hiring. PEO revenue grew 7 percent, beating expectations, while the company made strategic progress with the Pequity compensation management acquisition and continued expansion of embedded payroll partnerships with Fiserv.

D Clearly negative report. The company missed important expectations and likely triggers downward revisions.

Guidance: Appian raised its full year 2026 guidance for cloud subscription revenue to $515 to $521 million, representing 18 percent growth. Total revenue is now expected to be $819 to $831 million, also up 13 percent. The company expects adjusted EBITDA between $97 to $105 million, roughly 12 percent of revenue. Management cited strong AI adoption and pipeline momentum as key drivers of the raise.

Call summary: Appian delivered first quarter revenue of $202.2 million, up 21 percent year over year, with cloud subscriptions growing 25 percent to $124.5 million. The company beat guidance on revenue and EBITDA. Matt Calkins emphasized that Appian is winning in mission-critical AI use cases where reliability matters most. Nearly 40 percent of customers have adopted the advanced AI license tier. DocCenter, which extracts data from documents with 95 percent accuracy, is driving significant new deals across insurance, medical devices, and energy sectors.

+ EPS beat estimates by 44.1%; Revenue beat estimates by 3.5%