A few major companies are reporting earnings this week. HR and payroll services provider Paychex Inc. (PAYX) is set to post its first-quarter results on Tuesday before the market opens. Analysts expect earnings to fall 4.40% to $0.65 per share, hurt by higher costs and expenses. Meanwhile, revenue is expected to grow by 4.10% to $850.4 million.
Beverage giant PepsiCo Inc. (PEP) is scheduled to report its third-quarter results on Tuesday at 6 am EDT. Analysts expect earnings to increase by 6.1% to $1.57 per share and revenue to grow by 0.90% to $16.38 billion. It may be noted that the company had surprised investors with better-than-expected earnings in the past four quarters. This will be PepsiCo’s last earnings with CEO Indra Nooyi at its helm.
Experts believe Homebuilder Lennar (LEN) will post upbeat results for the third quarter on Wednesday before the market opens. Analysts expect earnings of $1.19 per share on revenue of $5.64 billion for the quarter. Positive housing market fundamentals are likely to prove favorable for Lennar. Also, the results will be benefited from strong demand, favorable job market and impressive economic conditions.
Lighting solutions provider Acuity Brands (AYI) is posting fourth-quarter results on Wednesday before the market opens. Analysts predict earnings of $2.62 per share on revenue of $1.01 billion for the quarter. The results are likely to be powered by higher shipment of its products. In the last couple of quarters, the company’s performance had been hurt by the slowness in the commercial construction space.
Alcoholic beverage maker Constellation Brands (STZ) will report its second-quarter results on Thursday before the market opens. Earnings are expected to improve 5.30% to $2.60 per share and revenue by 8% to $2.25 billion for the quarter. The demand for beer products has been on the upward swing for the past few quarters, and this trend is likely to continue for the second quarter too. The Wines and Spirits segment is likely to experience a shortfall in sales and volumes.
Membership-only warehouse club operator Costco (COST) is set to post its results for the fourth quarter on Thursday after the market close. Analysts project earnings of $2.36 per share on revenue of $44.27 billion. Investors are expecting the comparable store sales growth to drive the top line. The tax benefit is likely to remain beneficial for the bottom line. The majority of the comps growth is predicted to come from e-commerce.
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