Revenue Reports: Wolfspeed, Commscope, Qorvo, Tree.com, Fathom, Cornerstone, Ingersoll, Albemarle

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RESEARCH TRIANGLE PARK – It’s been a busy week for public companies this week on Wall Street, which released quarterly earnings reports. Here’s an update on eight different companies.

DURHAM- Wolfspeed, Inc. (WOLF) on Wednesday announced a loss of $66.5 million in its fiscal third quarter.

On a per share basis, the Durham-based company said it incurred a loss of 54 cents. Losses, adjusted for one-time gains and costs, were 12 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts polled by Zacks Investment Research was for a loss of 14 cents per share.

The energy-efficient lighting maker posted revenue of $188 million in the period, missing Street’s forecast. Five analysts polled by Zacks expected $190.4 million.

For the current quarter ending June, Wolfspeed expects results to range from a loss of 13 cents per share to a loss of 7 cents per share.

The company said it expects revenue in the range of $200 million to $215 million for the fourth fiscal quarter.

GREENSBORO – Qorvo Inc. (QRVO) reported fourth-quarter net profit of $212.3 million on Wednesday.

On a per-share basis, the Greensboro, North Carolina-based company said it had net income of $1.95. Earnings, adjusted for one-time costs and amortization charges, were $3.12 per share.

The results exceeded Wall Street expectations. The average estimate from six analysts polled by Zacks Investment Research was for earnings of $2.94 per share.

The chipmaker posted revenue of $1.17 billion in the period, also beating Street’s forecast. Five analysts polled by Zacks expected $1.15 billion.

For the year, the company reported earnings of $1.03 billion, or $9.26 per share. Revenue was reported at $4.65 billion.

For the current quarter ending in July, Qorvo expects its earnings per share to be between $2 and $2.25.

The company said it expects revenue in the range of $1 billion to $1.05 billion for the fiscal first quarter.

CHARLOTTE- Tree.com Inc. (TREE) reported a first-quarter loss of $10.8 million on Thursday.

The Charlotte, North Carolina-based company said it suffered a loss of 84 cents per share. Earnings, adjusted for stock option charges and one-time costs, were 46 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts polled by Zacks Investment Research was for earnings of 10 cents a share.

The mortgage services provider posted revenue of $283.2 million during the period, below Street’s forecast. Four analysts polled by Zacks expected $285.4 million.

For the current quarter ending in July, Tree.com said it expects revenue between $283 million and $293 million.

The company expects annual revenue of between $1.15 billion and $1.19 billion.

HICKORY- CommScope Holding Co. (COMM) reported a first-quarter loss of $139.9 million on Thursday.

On a per-share basis, the Hickory, North Carolina-based company said it incurred a loss of 75 cents. Earnings, adjusted for amortization and one-time costs, were 26 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts polled by Zacks Investment Research was for earnings of 23 cents per share.

The broadband and wireless networking technology company posted revenue of $2.23 billion during the period, also beating Street’s forecast. Six analysts polled by Zacks expected $2.1 billion.

CARY- Fathom Holdings Inc. (FTHM) reported a first-quarter loss of $6 million on Wednesday.

The Cary, North Carolina-based company said it suffered a loss of 37 cents per share.

The company recorded revenue of $90.1 million during the period.

For the current quarter ending in July, Fathom Holdings said it expects revenue in the range of $110 million to $115 million.

DAVIDSON– Ingersoll Rand Inc. (IR) reported first-quarter net profit of $103.7 million on Wednesday, after posting a loss in the same period a year earlier.

The Davidson, North Carolina-based company said it earned 25 cents per share. Earnings, adjusted for one-time costs and stock option charges, were 49 cents per share.

The results exceeded Wall Street expectations. The average estimate from four analysts polled by Zacks Investment Research was for earnings of 45 cents per share.

The flow control and compression equipment maker posted revenue of $1.34 billion in the period, also beating Street’s forecast. Four analysts polled by Zacks expected $1.3 billion.

CHARLOTTE- Albemarle Corp. (ALB) reported first-quarter net profit of $253.4 million on Wednesday.

On a per-share basis, the Charlotte, North Carolina-based company said it earned $2.15. Earnings, adjusted for one-time costs, were $2.38 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts polled by Zacks Investment Research was for earnings of $1.73 per share.

The specialty chemicals company posted revenue of $1.13 billion in the period, also beating Street’s forecast. Five analysts polled by Zacks expected $1.04 billion.

Albemarle expects annual earnings of between $9.25 and $12.25 per share, with revenue of between $5.2 billion and $5.6 billion.

Albemarle shares are down about 8% year-to-date. In the final minutes of trading on Wednesday, shares hit $215.47, up 33% over the past 12 months.

CARY- Cornerstone Building Brands, In (CNR) reported first-quarter net profit of $101.5 million on Tuesday, after posting a loss in the same period a year earlier.

The Cary, North Carolina-based company said it earned 79 cents per share. Earnings, adjusted for one-time gains and costs, were 66 cents per share.

The maker of products used in commercial buildings posted revenue of $1.57 billion during the period.