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Companies reporting earnings this week: Dec 17 – 21

A slew of major companies are reporting earnings this week. Open-source software company Red Hat (RHT) will announce third-quarter earnings on Monday after the bell. Analysts expect earnings of $0.87 per share on revenue of $852.82 million. The company is expected to be benefited by the shift to hybrid cloud architecture and the adoption of cloud-enabling technologies.

Enterprise software company Oracle (ORCL) will report second-quarter results on Monday. Analysts expect earnings to climb 11.40% to $0.78 per share while predicting revenue to fall by 1.10% to $9.52 billion. The top line is likely to be impacted by a decline in cloud services due to more stringent competition. However, the bottom line could be benefited by a decrease in costs and expenses as well as a lower tax provision.

Darden Restaurants Inc. (DRI) is set to post Q2 results on Tuesday before the bell. Analysts expect earnings to jump 24.70% to $0.91 per share as growth from the addition of new restaurants could drive the top line higher. Revenue is anticipated to rise by 5.20% to $1.98 billion with the aid of new guest experiences and additions.

Micron Technology (MU) will post Q1 results on Tuesday after the bell. Analysts project the company to report earnings of $2.94 per share on revenue of $8.02 billion. The semiconductor giant will be benefited by the strong demand growth across all markets, mainly for its DRAM and NAND chips. The company is likely to continue its competitive advantage over rivals with the aid of strategic pricing of the flagship products and the resultant margin growth.

FedEx (FDX) will announce Q2 earnings on Tuesday. Earnings are expected to jump by 24.50% to $3.96 per share and revenue is likely to increase by 8.90% to $17.76 billion. The shipping giant will be benefited by the higher volumes, increased yields and a favorable net impact of fuel at all transportation segments. The tax reform enactment will also aid in the company’s performance.

Consumer food company General Mills (GIS) is set to post second-quarter results on Wednesday before the bell. Analysts project earnings to fall 1.20% to $0.81 per share as gross margin will be impacted by cost inflation and charges related to the acquisition of Blue Buffalo. Revenue is predicted to rise by 7.60% to $4.52 billion helped by growth in Convenience Stores and Foodservice.

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Payroll services company Paychex (PAYX) will report Q2 earnings on Wednesday. Analysts see a profit of $0.63 per share on revenue of $858.25 million. The results will be benefited by solid growth in human capital management products. An increase in customer base is likely to drive Management Solutions revenue higher. The company’s administrative services, retirement services, and time and attendance solutions are likely to perform well.

The once-thriving smartphone maker BlackBerry (BB) could post Q3 results on Thursday before the bell. Earnings are anticipated to be $0.02 per share and revenue is likely to be $214.45 million. The results will be hurt by the company’s transition to software services. The growth in the BlackBerry Technology Solutions and Enterprise Software and Services businesses could be driving the company’s top line.

Carnival Corporation (CCL/CUK) will report Q4 earnings on Thursday. Analysts see a profit of $0.70 per share on revenue of $4.45 billion. The cruise operator’s results will be benefited by the streamlined operations that could offset fuel and currency headwinds. The company will be providing guidance for the fiscal year 2019.

As Accenture (ACN) announces Q1 results on Thursday, analysts expect earnings of $1.86 per share on revenue of $10.53 billion. The top line will be benefited by the sustained demand for digital and cloud products. The company will continue to gain market share helped by the durable business model and disciplined management.

Conagra Brands Inc. (CAG) will post second-quarter results on Thursday. Earnings are predicted by the analysts to be $0.56 per share on a revenue outlook of $2.43 billion. The branded foods company’s results will be benefited from the acquisitions of Angie’s Boomchickapop and Sandwich Bros. of Wisconsin. The growth could have an impact due to the sale of the Missouri production facility and the Canadian Del Monte business.

Sneaker maker Nike (NKE) will release Q2 earnings on Thursday after the bell. Analysts expect earnings to be in-line with last year at $0.46 per share as the intense scrutiny over its controversial advertisement featuring Colin Kaepernick could offset the strong revenue growth. Revenue is predicted to rise by 7.20% to $9.17 billion as the North America recovery paved way for strong performance.

As CarMax Inc. (KMX) posts Q3 results on Friday before the bell, analysts expect a profit of $1.01 per share on revenue of $4.33 billion. The used-car retailer will be benefited by an increase in the comparable stores used unit sales, higher appraisal traffic, and Wholesale buy rate as well as a growth in the Wholesale store base. Meanwhile, expenses are likely to rise due to store base growth and investments in its technology platforms and core strategic initiatives.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Goldman downgrade is a call for Walgreens to revisit biz strategy

Shares of pharmacy store chain Walgreens Boots Alliance Inc. (WBA) dropped sharply Friday after they were downgraded by Goldman Sachs, in what could be an alert against the growing presence of online players like Amazon (AMZN) in the pharma retail space. The price target on the stock was lowered to $68, significantly below Friday’s opening price.

Citing the challenges facing the retail pharmacy business, the research firm cut its rating on Walgreens to sell from neutral. The stock has been on a downward spiral after hitting a three-year high earlier this month. It gained about 10% since the beginning of the year.

Citing the challenges facing the retail pharmacy business, the research firm cut its rating on Walgreens to sell from neutral

Analysts are of the view that the management’s present strategy, marked by business partnerships across multiple sectors, is inadequate to sustain growth. Most of the company’s tie-ups are structured to increase footfall in its stores, which according to the analysts is an ineffective method to counter the growing threat from online drug retailers.

The new rating – the only sell tag on the company currently – could be a dampener as far as investors are concerned. The majority of other market watchers recommends either buy or hold for Walgreens.

The downgrade comes in the midst of hectic merger activity in the sector, which recently witnessed Walgreens’ arch-rival CVS Health (CVS) acquiring Aetna (AET), a leading health insurance firm, and Amazon boosting its online drug delivery service by adding PillPack into its fold.

Walgreens Q4 earnings beat; stock tanks on sales miss

Soon after each of the high-value deals involving online retailers, investor sentiment turned bearish causing the stocks of pharma store operators to fall sharply. For Walgreens, the chances of retaining the growth momentum through acquisitions are bleak due to its high debt and unimpressive cash flow.

Adding to the woes of conventional store operators, President Donald Trump recently raised concerns about the high costs of pharmaceutical products including medicine, forcing several companies to slash their prices.

 

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