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Earnings preview: Garmin faces tough competition ahead

Garmin Ltd. (GRMN) is scheduled to report fourth-quarter 2018 earnings results on Wednesday, February 20, before market open. Wall Street expects the company to report earnings of $0.79 per share on revenue of $889.7 million. Garmin has consistently beat earnings estimates in the past four quarters.

Garmin has posted strong results over the past two quarters with particular strength in wearables. The smartwatch market is a rapidly growing one and Garmin, along with its peers, are expanding into this space and looking to increase their market share.

The smartwatch market is currently dominated by the likes of Apple (AAPL) and Fitbit (FIT) and Garmin faces tough competition in the area. The company will need a new strategy to gain meaningful ground here.

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The company has been making acquisitions in various sectors and these will help diversify its portfolio and boost growth. Last quarter, Garmin acquired flight planning and services provider, FltPlan.com, and on Tuesday, the company said it was acquiring Tacx, a manufacturer of indoor bike trainers.

In the third quarter, Garmin topped revenue and earnings estimates, with revenue rising 8% and EPS improving by 30%. All segments, except for auto, posted double-digit sales growth with the highest in Marine. The Fitness and Outdoor segments benefited from growth in wearables and the company remains focused on opportunities in this space.

Garmin’s stock has gained 10% in the last 52-weeks and looking at the past one month, shares have climbed over 9%.

 

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Earnings preview: What to expect from LendingClub Q4 earnings?

Online lender LendingClub Corporation (LC) is slated to report its fourth quarter and full-year 2018 earnings results on Tuesday, February 19, after market hours. On average, analysts expect LendingClub to earn 2 cents per share on revenue of $181.9 million for the recently concluded quarter. These estimates represent a 100% jump in earnings and a 16% increase in revenue compared to the fourth quarter of 2017. Shares of LendingClub ended Friday’s regular trading session at $3.56, up 1.14%.

For the third quarter ended September 30, 2018, the online lending platform which connects borrowers and investors, reported earnings of 3 cents per share on revenue of $184.6 million representing a flat earnings and 20% revenue growth from the third quarter of 2017. Loan originations improved 18% year-over-year to $2.9 billion. On a GAAP basis, loss widened to 5 cents per share from 2 cents per share in the prior-year quarter.

Related: LendingClub Q3 2018 earnings conference call transcript

For 2018, the San Francisco-based fintech firm had guided revenue to be in the range of $688 million to $698 million and GAAP loss to be in the range of $129 million to $124 million.

Investors will be looking at how the company had handled and settled several key matters arising from outstanding legacy issues disclosed by the company in May 2016, including investigations by the Department of Justice and the Securities and Exchange Commission as well as class action and individual lawsuits. LendingClub announced that it had continued constructive engagement with the Federal Trade Commission regarding ongoing litigation.

LendingClub’s peer OnDeck Capital (ONDK) reported its quarterly results on February 12. OnDeck’s earnings beat estimates aided by the growth in the loan originations, sending shares in the upward direction.

LC stock had lost 9% in the past 52-weeks and gained 36% since the beginning of 2019. The stock has a 52-week low of $2.46 and a 52-week high of $4.55.

 

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