Oracle, Kroger, Canopy Growth, Red Hat, CarMax, and more earnings are scheduled for the week between June 17 and 21. Check out what to expect from the major earnings reports this week.
Adobe Inc. (ADBE) will announce second-quarter earnings on Tuesday after the bell. Analysts expect earnings to increase by 7.20% to $1.78 per share and revenue to jump by 23.20% to $2.7 billion. The results will be benefited by the steady demand for its products across all segments, specifically Digital Experience. Also, the positive business environment and its strong customer base could be beneficial for the company, which is taking advantage of the rapid adoption of cloud technology.
Jabil Inc. (JBL) will report third-quarter results on Tuesday. Analysts predict earnings of $0.57 per share on revenue of $6.01 billion. The results will be benefited by the strength in its healthcare, retail, cloud, and industrial businesses. Revenue from Diversified Manufacturing Services is expected to decline by 12% while Electronics Manufacturing Services revenue is likely to increase by 27%.
La-Z-Boy Incorporated (LZB) is set to post fourth-quarter results on Tuesday. Analysts expect earnings to decline by 2.80% to $0.70 per share due to higher costs and expenses as well as the lower benefit for a redesign of employee benefits programs made. Revenue is anticipated to increase by 11.70% to $469.05 million with solid core business growth plus sales from recent acquisitions.
Recreational vehicle maker Winnebago Industries Inc. (WGO) will post Q3 results on Wednesday before the bell. Analysts project the company to report earnings of $1.01 per share on revenue of $564.03 million. The results will be hurt by the challenging macro conditions within the RV industry with dealers are expected to cut down their overall inventory levels in the quarter.
Oracle Corporation (ORCL) will announce Q4 earnings on Wednesday after the bell. Earnings are expected to increase by 8.10% to $1.07 per share while revenue is likely to fall by 2.70% to $10.95 billion. The top line will be hurt by decreases in cloud license and on-premise license, hardware, and services. Oracle’s cloud business is facing stiff competition from Amazon (AMZN) Web Services and Microsoft’s (MSFT) Azure, which continue to dominate the sector. As a result, margins will come under pressure from unfavorable pricing and higher costs from infrastructure investments.
Steelcase Inc. (SCS) is set to post first-quarter results on Wednesday. Analysts project earnings to jump by 28.60% to $0.18 per share helped by higher revenue as well as expenses leverage. Revenue is predicted to increase by 11.30% to $839.07 million with double-digit growth is predicted across all segments. Orders are likely to grow backed by segments growth.
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The Kroger Co. (KR) will report Q1 earnings on Thursday before the bell. Analysts see a profit of $0.72 per share on revenue of $37.21 billion. The company is facing stiff competition in the retail industry, particularly in the grocery space. For overcoming the pressure, the company has been spending more on improving online ordering and delivery options, especially for groceries, for attracting customers and in turn, drive sales.
Darden Restaurants Inc. (DRI) could post Q4 results on Thursday. Earnings are anticipated to climb by 23.70% to $1.72 per share and revenue is likely to rise by 5.20% to $2.24 billion. The results will be benefited by new restaurants opening and a blended same-restaurant sales growth.
Commercial Metals Company (CMC) will report Q3 earnings on Thursday. Analysts see a profit of $0.64 per share on revenue of $1.61 billion. The results will be benefited by sales increases across all its business segments. The contribution from strategic growth initiatives could drive the quarterly performance. The company remained optimistic about the demand outlook in its key markets.
Canopy Growth Corporation (CGC) will report fourth-quarter results on Thursday after the market closes. The company had missed the estimates for three quarters in a row so far in fiscal 2019. Canopy Growth has been making strategic moves to expand its presence in the US market through acquisitions and partnerships. This has led to the company spending more on those strategic moves.
Red Hat Inc. (RHT) will announce first-quarter earnings on Thursday. Analysts expect earnings to climb 19.40% to $0.86 per share and revenue to increase by 14.50% to $931.59 million. The results will be benefited by strong customer growth and stable demand from its hybrid cloud technology solutions. International Business Machines (IBM) has been preparing to add Red Hat to its corporate family through the deal for $34 billion.
As CarMax Inc. (KMX) announces Q1 results on Friday before the bell, analysts expect earnings of $1.47 per share on revenue of $5.12 billion. The results will be benefited by improved conversion, growth in store base, and lower cancellation activity. The comparable store sales performance of the used unit will reflect the improved conversion while the growth in store base could drive the total wholesale unit sales.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard