Cincinnati Earnings Roundup: Part 1

A handful of Cincinnati-based companies and their post-earnings moves

Deputy Editor
Jun 8, 2023 at 12:07 PM
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The latest earnings season has come and gone. Given our headquarters is based in Cincinnati, Ohio we figured it would be fun to honor the local flavor, and shed some light on how some of our very own Queen City-based companies in the earnings confessional. Keep an eye out for part two, featuring Kroger's report -- due out after the close on Thursday, June 15!

Starting off with the heavy-hitter, Procter & Gamble Co (NYSE:PG) announced strong fiscal third-quarter results and raised its full-year forecast on April 21. PG closed the day up 3.5%, which still remains its highest single-session percentage gain since March 2022, marking its fifth post-earnings gain over the last eight reports. Year-to-date, the Dow member is currently down 4.4%.  

Fifth Third Bancorp (NASDAQ:FITB) closed the day 0.6% lower after its disappointing first-quarter report, announced on April 20, though several other regional lenders dipped much further that day following their results, including Zions Bancorp (ZION) and KeyCorp (KEY), as the recent banking crisis weighed. FITB is down 17.1% year-to-date, as bank stocks struggle in the wake of sector-wide headwinds from early 2023. 

Chemed Corp (NYSE:CHE) announced better-than-expected first-quarter results after the close on April 26, however, the stock closed 2.9% lower in its next-day session, which ultimately led to a halted six-week win streak. Since the start of the year, CHE is currently up 6.2%.  

The shares of Macy's Inc (NYSE:M) closed higher after the retailer's mixed first-quarter results on June 1, rebounding from nearly two-year lows despite the company's dour full-year forecast. The security brushed off no fewer than seven price-target cuts the following day as well, adding 12.1% on June 2 and breaking the stock's seven-week losing streak by the end of the week. 

 

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