Categories U.S. Markets News

Calendar: Earnings of Rite Aid, JPMorgan, Wells Fargo on queue

Rite Aid, JPMorgan, Wells Fargo, and more earnings are scheduled for the week between April 8 and 12. Check out what to expect from the major earnings reports next week.

After turning public, denim firm Levi Strauss (NYSE: LEVI) will announce first-quarter earnings on Tuesday after the bell. The company, which had offered its shares at $17 apiece at the IPO on March 21, saw its shares close higher at $22.41 at the end of the first day. Investors will be looking forward to the call as the management is predicted to give a blueprint of how it plans to use the IPO proceeds.

Aviation firm Delta Air Lines (NYSE: DAL) will report first-quarter results on Wednesday before the bell. Analysts predict earnings of $0.84 per share on revenue of $10.37 billion. The results will be benefited by softening fuel costs and high demand. Also, operating expenses are anticipated to fall on cost-cutting efforts and improved operating efficiency. Aviation firms are set to benefit this year from the moderation in oil prices, after a challenging 2018 when high fuel costs ate into their profits.

Home decor retailer Bed Bath & Beyond (NASDAQ: BBBY) is set to post fourth-quarter results on Wednesday after the bell. Analysts expect earnings to fall 25% to $1.11 per share due to a sharp increase in selling costs and operating expenses. Margins have been consistently under pressure for more than two years from higher expenses, especially those related to discount coupons and direct-to-customer shipping. Revenue is anticipated to decline 10.40% to $3.33 billion as a fall in store sales dragged comps down.

Image for representation only (Courtesy: skeeze from Pixabay)

Industrial supplies company Fastenal (NASDAQ: FAST) will post Q1 results on Thursday before the bell. Earnings are expected to jump 9.80% to $0.67 per share and revenue is likely to increase 10.70% to $1.31 billion. The results will be benefited by the continued strength in underlying market demand. Sales are anticipated to increase on a daily basis for both its fastener and non-fastener products.

Drugstore chain Rite Aid Corporation (NYSE: RAD) will announce Q4 earnings on Thursday. Analysts project the company to report a loss of $0.01 per share on revenue of $5.55 billion. The results will be benefited by an increase in same-store sales from the Retail Pharmacy segment and an increase in Medicare Part D membership. Also, strong results from immunizations and script growth could drive the number of prescriptions filled in same stores higher. Investors were satisfied with the top management shake-up and corporate jobs cuts.

Infosys (NYSE: INFY) is set to post fourth-quarter results on Friday before the bell. Analysts project earnings to be in-line with last year at $0.13 per share as an increase in expenses likely to overshadow the gains in the top line. Revenue is predicted to rise 8.80% to $3.05 billion with revenues increases in both its digital and core businesses. The company remained confident entering 2019 with a growth in digital business and large deals.

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JPMorgan Chase & Company (NYSE: JPM) will report Q1 earnings on Friday. Analysts see a profit of $2.37 per share on revenue of $28.54 billion. The results will be benefited by higher rates and loan growth as well as higher deposit and card margins and balanced growth in the Consumer & Community Banking segment. However, results will be hurt by investments in the business, including technology, marketing, and real estate, as well as higher net reserve builds in the Consumer and Wholesale portfolios.

Wells Fargo (NYSE: WFC) could post Q1 results on Friday. Earnings are anticipated to climb 14.60% to $1.10 per share while revenue is likely to fall 4.30% to $21 billion. The results will be hurt by lower market sensitive revenue, mortgage banking fees, and trust and investment fees as well as higher income tax expense. The customer growth could be behind the transaction volumes growth of commercial card spends. A decline in market valuations and net outflows could drive the total client assets down.

 

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