Home Depot, Target, NetApp, Best Buy, HP, and more earnings are scheduled for the week between May 20 and 24. Check out what to expect from the major earnings reports this week.
The Home Depot Inc. (HD) will announce first-quarter earnings on Tuesday before the bell. Analysts expect earnings to climb 5.30% to $2.19 per share and revenue to rise 5.80% to $26.39 billion. The results will be driven by the smooth execution of the integrated retail strategy that connects offline and online channels. The enhanced digital sales are likely to be driven by the progress on the efforts.
Department store chain Kohl’s Corporation (KSS) will report first-quarter results on Tuesday. Analysts predict earnings of $0.67 per share on revenue of $3.95 billion. The results will be hurt by higher costs and expenses. The company will record additional charges as part of its Operational Excellence initiatives and most of the charges will be related to future lease commitments at the four stores that will be closing.
J. C. Penney Company (JCP) is set to post first-quarter results on Tuesday. Analysts expect a loss of $0.38 per share on revenue of $2.56 billion. The company has been struggling to adapt to the rapid change in the retail landscape as it continues to lose money as well as its customers. The company has made several changes in its management and has cut more than 5,000 jobs. Apart from limited sales growth, the company has a huge debt load of $4.2 billion.
The TJX Companies Inc. (TJX) will post Q1 results on Tuesday. Analysts project the company to report earnings of $0.55 per share on revenue of $9.21 billion. The bottom line will be hurt by the combination of incremental freight costs, store wage increases, and foreign currency, while the comp sales growth across the major divisions were primarily driven by customer traffic. The company has been trying to capture market share and pursuing many initiatives to keep driving sales and customer traffic.
Fashion retailer Urban Outfitters (URBN) will announce Q1 earnings on Tuesday after the bell. Earnings are expected to drop 34.20% to $0.25 per share and revenue is likely to be $855.65 million, unchanged from last year. The bottom line would be hurt by higher costs and expenses. The comparable retail net sales could rise driven by growth in its digital channel. The company has laid down an effective strategy to retain traffic, including store-expansion, technological innovation, and initiatives to ramp up the wholesale operation.
Department store chain Nordstrom (JWN) is set to post first-quarter results on Tuesday. Analysts project earnings to fall 15.70% to $0.43 per share hurt by higher costs and expenses. Revenue is predicted to rise by 0.40% to $3.57 billion as softer traffic trends in full-line stores could hurt the top line. The ongoing efforts to drive productivity improvements are likely to moderate the growth of digital capabilities.
Target Corporation (TGT) will report Q1 earnings on Wednesday before the bell. Analysts see a profit of $1.43 per share on revenue of $17.5 billion. The results will be benefited by positive comparable store performance, mainly through innovation, as well as strong traffic. The company is likely to see growth in toys, baby products, and seasonal gift items for the quarter.
Patio furniture maker Lowe’s Companies (LOW) could post Q1 results on Wednesday. Earnings are anticipated to climb 12.60% to $1.34 per share and revenue is likely to rise 2% to $17.7 billion. The continued weakness in the Canadian housing market could hurt the company’s results in the near term but the company remained confident in its market position and the long-term potential of the business.
Data storage provider NetApp (NTAP) will report Q4 earnings on Wednesday after the bell. Analysts see a profit of $1.26 per share on revenue of $1.65 billion. The results will be benefited by strong product revenues as well as revenue from strategic product and higher mature product revenues. The cloud data management could be driving the results. The popularity in the storage area network, which is backed by the company’s expertise in the all-flash array business, could drive the product revenues higher.
As Best Buy Co. (BBY) announces Q1 results on Thursday before the bell, analysts expect earnings of $0.86 per share on revenue of $9.13 billion. The electronics retailer will be benefited by its focus on cost savings and bumping up productivity. The top line growth could be driven by the continued focus on balancing investments in its strategy, pressures in the business and cost takeout.
Medtronic plc (MDT) will announce fourth-quarter earnings on Thursday. Analysts expect earnings to increase 3.50% to $1.47 per share while revenue will decline by 0.40% to $8.11 billion. The results will be benefited by the outperformance in Minimally Invasive Therapies and Restorative Therapies Groups as well as broad strength across Emerging Markets. The top line will be hurt by certain market-specific headwinds.
HP Inc. (HPQ) will report second-quarter results on Thursday after the bell. Analysts predict earnings of $0.51 per share on revenue of $13.97 billion. The results are likely to be hurt by a fall in PC shipments and printer supplies line. PC shipments will be impacted by the CPU shortages from Intel and the ongoing trade war between the US and China. Also, the competition has turned intense on the PC space from the likes of Lenovo, Dell and Apple (AAPL) for gaining the market share.
The Home Depot (HD) is scheduled to report its earnings results for the first quarter of 2019 on Tuesday before the market closes. The home improvement retailer will be benefited by spectacular growth strategies, including an interconnected strategy and focus on Pro customers.
The results will be driven by the smooth execution of the integrated retail strategy that connects offline and online channels. The enhanced digital sales are likely to be driven by the progress on the efforts. For picking up online orders, Home Depot continued to roll out automated lockers in its stores.
Home Depot will be aided by positive customer response for assortments as well as enhancements to drive integrated shopping experience. The company could be aided by robust customer demand in the home improvement markets that would drive strength across store operations.
The quarter could be hurt by soft sales and comparable store sales, which is likely to be negatively impacted by currency headwinds due to strong US dollar and commodity price inflation. The hurricane-related sales in the prior year quarter could reduce the top line growth difference for the first quarter.
The comps are likely to be largely impacted by lowering demand arising from unexpected wet winter weather in all regions throughout the quarter.
Also read: Walmart Q1 earnings report
Analysts expect the company’s earnings to rise by 5.30% to $2.19 per share and revenue will increase by 5.80% to $26.39 billion for the first quarter. In comparison, during the previous year quarter, Home Depot reported a profit of $2.08 per share on revenue of $24.95 billion.
The company has surprised investors by beating analysts’ expectations in the past four quarters. It is expected that Home Depot could post upbeat results for the first quarter. Majority of the analysts recommended a “strong buy” or “buy” rating while expecting the stock to reach $205.86 per share in the next 52 weeks.
For the fourth quarter, Home Depot reported a 32% jump in earnings helped by an 11% growth in revenue and a 3.7% increase in comparable sales. The bottom line was hit by a pre-tax charge of about $247 million due to impairment losses regarding certain trade names at Interline Brands.
For fiscal 2019, the company expects comp sales growth of about 5% and sales growth of about 3.3%. Five new stores are expected to open in the year, with a gross margin of about 34%. Earnings are expected to grow 3.1% to about $10.03 per diluted share.
Shares of Home Depot has risen over 3% in the past year and over 14% in the year so far.
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