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Earnings watch: General Mills, FedEx, Conagra, Nike on queue for release

On the economic front, the Federal Reserve is meeting to decide the interest rates changes on March 20 and the European Union officials are meeting for the last time ahead of the March 29 Brexit deadline. On the corporate front, General Mills, FedEx, Conagra, Nike and more earnings are scheduled for the week between March 18 and 22. Check out what to expect from the major earnings reports next week.

Canadian marijuana firm Tilray (TLRY) will announce fourth-quarter earnings on Monday after the bell. Analysts predict a loss of $0.12 per share on revenue of $14.45 million. Tilray has recently been facing the flak of investors for its inability to turn profitable, despite some of its peers starting to make money. The company has been active in making deals over the quarter for surviving the competition. The bottom line would be hurt by the pressure in putting more capital investments into production capacity expansion.

FedEx (FDX) will report third-quarter results on Tuesday after the bell. Analysts expect earnings to fall 14.80% to $3.17 per share while revenue will rise 7% to $17.69 billion. The industry has been badly impacted by the trade war and the recent escalation of the US-China standoff points to further deterioration of the market conditions. Also, Amazon’s (AMZN) expansion of its presence in the transport sector could pose a serious threat to FedEx. The bottom line would be hurt by higher costs and expenses.

Cheerios-maker General Mills (GIS) is set to post third-quarter results on Wednesday before the bell. Analysts expect earnings to drop by 12.70% to $0.69 per share due to higher costs and expenses. Revenue is anticipated to rise by 8% to $4.19 billion. The North America Retail segment is likely to be hurt by lower merchandising activity in the US Cereal operating unit and lower volume in US Snacks.

Micron Technology (MU) will post Q2 results on Wednesday after the bell. Analysts project the company to report earnings of $1.70 per share on revenue of $5.89 billion. The company is expected to be hurt by the crypto bubble bursting as other chip giants such as Advanced Micro Devices (AMD) and Nvidia (NVDA) lowered their outlook. Also, the recent slump in Apple (AAPL) could ripple and turn as a threat to Micron, which relies on the PC and smartphone markets.

Image for representation only (Courtesy: Csaba Nagy from Pixabay)

Guess? Inc. (GES) will announce Q4 earnings on Wednesday. Earnings are expected to jump 21% to $0.75 per share and revenue is likely to increase 4.90% to $831.15 million. The results will be benefited by the strength in Europe and Asia businesses as constant store openings and e-commerce expansion could lead to positive comps growth. Also, improvising online operations remained the key to future growth and the company has planned to link brick-and-mortar stores, e-commerce, and mobile sales.

Williams-Sonoma, Inc. (WSM) is set to post fourth-quarter results on Wednesday. Analysts project earnings to jump 17.30% to $1.97 per share as continued strength in demand and customer growth are likely to drive the results. Revenue is predicted to rise 7% to $1.8 billion helped by e-commerce growth. The e-commerce revenue growth continued to outrun the retail revenue growth as more people started shopping through mobile instead of visiting the store.

Darden Restaurants Inc. (DRI) will report Q3 earnings on Thursday before the bell. Analysts see a profit of $1.74 per share on revenue of $2.24 billion. The results could be benefited by an increase in same-restaurant sales and higher consumers traffic as well as new restaurants growth and pricing. Consumers turned health conscious by shifting from fast-food chains to restaurants and this could increase the footfall for the quarter.

Commercial Metals Company (CMC) could post Q2 results on Thursday. Earnings are anticipated to be in line with last year at $0.26 per share while revenue is likely to jump by 39.90% to $1.48 billion. The results would include normal seasonality that will lower shipment rates at its facilities. Backed by the contribution from strategic growth initiatives, the results could be strong in comparison to historical second-quarter results.

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Packaged food company Conagra Brands (CAG) will report Q3 earnings on Thursday. Analysts see a profit of $0.49 per share on revenue of $2.77 billion. The results will be benefited from the acquisitions of Pinnacle Foods, Angie’s Boomchickapop and Sandwich Bros. of Wisconsin, while the sale of certain businesses could pressurize it. The favorable price/mix, strong supply chain realized productivity and recent acquisitions could positively impact the results.

As Nike (NKE) announces Q3 results on Thursday after the bell, analysts expect earnings of $0.64 per share on revenue of $9.57 billion. After surviving the challenges posed by adverse market conditions, the sneaker maker’s results will be benefited by the strong contributions from the footwear segment. The results will be positively impacted by the ongoing recovery in the North American operations and the company’s digital transformation initiatives.

US luxury jeweler Tiffany & Co (TIF) will announce fourth-quarter earnings on Friday before the bell. Analysts expect earnings to fall 3.60% to $1.61 per share while revenue will rise by 0.10% to $1.34 billion. The customer demand has been adversely impacted by the decline in spending by tourists, mostly Chinese, and the uncertainties in Europe. This along with weaker holiday sales led the company to lower its yearly profit forecast during mid-January.

Chinese solar-module maker JinkoSolar Holding (JKS) will report fourth-quarter results on Friday. Analysts predict earnings of $0.63 per share on revenue of $1.22 billion. The results will be benefited by the growth in the total solar module shipments. The company has joined hands with Schneider Electric to donate a 55kW off-grid solar project in Egypt. Also, JinkoSolar announced the supply of 9MW of solar panel modules to juwi’s 1500V DC system in Greece. These could positively impact the results for the quarter.

 

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