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Calendar: Earnings of Red Hat, Cronos, KB Home, Accenture on queue

On the economic front, the US Commerce Department is expected to release its fourth-quarter gross domestic product on March 28 and the European Union officials are meeting on March 27 to debate and vote on alternative ways forward on Brexit after delaying the deadline to May 22. On the corporate front, Red Hat, Cronos, KB Home, Accenture, and more earnings are scheduled for the week between March 25 and 29. Check out what to expect from the major earnings reports next week.

Red Hat (RHT) will announce fourth-quarter earnings on Monday after the bell. Analysts expect earnings to climb 11% to $1.01 per share and revenue to jump 14.40% to $883.85 million. The buyout deal with IBM (IBM) has been closely followed by the investors and the deal has been delayed pending regulatory clearance, including antitrust approval. The results will be benefited by further strong growth in customer growth and stable demand for its hybrid cloud technology solutions.

Cannabis producer Cronos Group (CRON) will report fourth-quarter results on Tuesday before the bell. Analysts predict a loss of $0.01 per share on revenue of $6.7 million. The top line will be benefited by the strong sales growth of dried cannabis and cannabis oils. This quarter marks the first full quarter since Canada’s approval of the recreational use of marijuana, which is likely to be beneficial for the company.

Leisure travel and cruise operator Carnival Corporation (CCL/CUK) is set to post first-quarter results on Tuesday. Analysts expect earnings to fall 15.40% to $0.44 per share as fuel, payroll and currency headwinds offset streamlined operations. The results will also be hurt by unrealized gains and losses on fuel derivatives and other charges. Revenue is anticipated to rise 1.80% to $4.31 billion with booking volumes is likely to run significantly ahead of its higher capacity growth.

Homebuilder KB Home (KBH) will post Q1 results on Tuesday after the bell. Analysts project the company to report earnings of $0.26 per share on revenue of $831.24 million. The bottom line is expected to be benefited by the reduction in the federal corporate income tax rate. However, lower homebuilding revenue dragged the top line down. Net orders are likely to fall and average selling price could be hurt by a shift in geographic mix of homes delivered.

Image for representation only (Courtesy: Lorenzo Cafaro from Pixabay)

Paychex (PAYX) will announce Q3 earnings on Wednesday before the bell. Earnings are expected to jump 39.70% to $0.88 per share and revenue is likely to increase 24% to $1.07 billion. The results will be benefited by the solid progress across major human capital management product lines. An increase in the number of clients could drive revenue from Management Solutions and from PEO and Insurance Services.

Athletic apparel retailer Lululemon Athletica (LULU) is set to post fourth-quarter results on Wednesday. Analysts project earnings to jump 30.80% to $1.74 per share helped by an increase in the top line as well as higher comparable store sales. Revenue is predicted to climb 23.80% to $1.15 billion. The company continued to see strong momentum across its business based on current and future strategic investments for achieving its long-term growth objectives.

Discount store operator Five Below (FIVE) will report Q4 earnings on Wednesday after the bell. Analysts see a profit of $1.58 per share on revenue of $602 million. The results will be benefited by comparable store sales growth and new store openings. The customers remained positive about the company’s compelling assortment of trend-right products.

Also read: Headwinds that could hinder Starbucks’ growth

Accenture (ACN) could post Q2 results on Thursday before the bell. Earnings are anticipated to decline by 0.60% to $1.57 per share while revenue is likely to rise by 7.40% to $10.3 billion. The results will be benefited by revenue growths across all of its operating groups as well as growth across all its geographic regions. The demand is expected to rise for the company’s highly differentiated services.

BlackBerry (BB) will report Q4 earnings on Friday before the bell. Analysts see a profit of $0.06 per share on revenue of $241.66 million. The results will be benefited by growth in total software and services revenue. The purchase of Cylance will present BlackBerry with an opportunity for revenue acceleration in its businesses, including UEM, QNX, and Spark. This will be achieved by extending its strategy with cutting-edge AI cybersecurity capabilities and combining it with BlackBerry’s capabilities.

As used-car retailer CarMax (KMX) announces Q4 results on Friday, analysts expect earnings of $1.06 per share on revenue of $4.43 billion. The results will be benefited by a decline in the effective tax rate. The total used unit and the wholesale unit sales are anticipated to rise backed by growth in its store base and higher appraisal buy rate.

 

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