Earnings week forward: Micron, Nike, Mattress Bathtub & Past, CarMax and extra
For the ultimate week of September, quite a few high-profile earnings stories are anticipated. Quarterly outcomes are slated from all kinds of gamers throughout the semiconductor, packaged meals, restaurant, retail and leisure industries.
Nike (NYSE:NKE) and Micron (NASDAQ:MU) will headline the week, which may even embody updates from the likes of restaurant chain Cracker Barrel Outdated Nation Retailer (CBRL), RV producer Thor Industries (THO) and HR options supplier Paychex Company (PAYX). Carmax (KMX), Mattress Bathtub & Past (BBBY) and Ceremony Assist (RAD) are additionally on the itinerary.
Beneath is a curated checklist of earnings outcomes to come back within the week of September 26 to September 30:
Monday, September 26
Earnings are anticipated from Pluri Inc. (PLUR), Kintara Therapeutics (KTRA), and BeyondSpring (BYSI), per Searching for Alpha earnings calendar forecasts. Nevertheless, these occasions have but to be confirmed by the businesses themselves.
Tuesday, September 27
Cracker Barrel (CBRL)
Cracker Barrel (CBRL) is because of report its fiscal fourth quarter outcomes on Tuesday, with the announcement slated to happen previous to the market open. The Tennessee-based restaurant and present retailer chain has staged a stark rally since mid-summer, rising almost 30% from its 52-week low in June. Nonetheless, even with the current upswing, shares stay about 21% decrease than the place they ended 2021.
Forward of the fourth quarter report, Deutsche Bank told clients that the chain’s older clientele is a damaging with each inflation and pandemic considerations protecting the demographic away from cubicles and tables. Quarterly EPS and income estimates have every been revised down 3 instances every, according to Seeking Alpha data.
- Consensus EPS Estimates: $1.39
- Consensus Income Estimates: $838.28M
- Earnings Perception: Cracker Barrel has overwhelmed EPS estimates in 4 of the previous 8 quarters, rising above income expectations in 5 of these stories.
Cal-Maine Meals (CALM)
After the bell on Tuesday, Cal-Maine Meals (CALM) is because of give buyers an replace on its fiscal first quarter. The inventory has been a big outperformer in 2022, rising more than 60% 12 months so far in opposition to important declines within the main fairness indices.
The Mississippi-based egg distributor posted record net income in its last earnings report, citing sturdy pricing energy amid unprecedented inflation. Forward of the outcomes, Wall Avenue analysts stay divided. The inventory has its advocates as a strong defensive play, however analyst Evin Rohrbaugh calls the inventory “highly overvalued.”
- Consensus EPS Estimates: $2.55
- Consensus Income Estimates: $617.40M
- Earnings Perception: Cal-Maine Meals has exceeded EPS estimate in 5 of the previous 8 quarters, beating income expectations in 6 of these stories.
Wednesday, September 28
Thor Industries (THO)
Leisure car producer Thor Industries (THO) is because of report earnings previous to Wednesday’s market open. Shares of the Indiana-based firm have fallen over 30% in 2022, with analysts rising cautious on client spending and realigning to a Hold consensus. Whereas the corporate crushed earnings expectations in July, sliding RV gross sales have been reported into the end of the summer by Baird.
- Consensus EPS Estimates: $3.84
- Consensus Income Estimates: $3.68B
- Earnings Perception: Thor industries has exceeded EPS and income estimates in 8 straight quarters.
Paychex (PAYX) is because of replace buyers on its quarterly efficiency in Wednesday’s premarket hours. Shares of the Rochester, New York-based HR options supplier have pushed about 7% larger previously 12 months, outpacing the market. Nevertheless, the inventory has seen a double-digit plunge within the month previous to its earnings announcement.
About two weeks previous to the report, PAYX entered a partnership with Managed Health to supply corporations a brand new healthcare resolution. The report would be the remaining name to function outgoing CEO Martin Mucci.
- Consensus EPS Estimates: $0.97
- Consensus Income Estimates: $1.17B
- Earnings Perception: Paychex has pushed previous EPS and income estimates in 8 straight quarters.
Thursday, September 29
Micron Know-how (MU)
Semiconductor large Micron Know-how (MU) is about to report earnings after the market shut on Thursday. Shares of Micron have been almost halved in 2022 as memory prices have plunged. The inventory has been topic to downgrades at quite a few corporations, including Mizuho, amid considerations on demand dynamics. In the meantime, analyst Robert Castellano has predicted that reminiscence chips won’t recover until 2024.
Regardless of the expectation of cost-cutting, CEO Sanjay Mehrotra informed Reuters the corporate is due to break ground on its newly announced $15B factory in Idaho. The corporate additionally expects to unveil one other U.S.-based plant quickly.
- Consensus EPS Estimates: $1.38
- Consensus Income Estimates: $6.81B
- Earnings Perception: Micron has exceeded EPS estimates in 8 straight quarters, lacking income expectations solely as soon as.
Nike (NKE) is because of supply its fiscal fourth quarter outcomes on Thursday night — maybe probably the most closely-watched report of the week. Shares of the Oregon-based footwear and attire producer have fallen over 40% in 2022 amid inflation and inventory concerns in addition to shutdowns in China.
Forward of the outcomes, battle traces have been drawn on Wall Avenue. For instance, RBC Capital Markets indicated its expectation of a powerful outcome and continued progress forward. Alongside the identical traces, UBS told clients an inflection point is coming near for the inventory. Nevertheless, each BNP Paribas and Barclays moved to downgrade the inventory shortly earlier than the outcomes as they fear about outsized China impacts and weak guidance, respectively.
- Consensus EPS Estimates: $0.92
- Consensus Income Estimates: $12.31B
- Earnings Perception: Nike has exceeded EPS estimates in 8 straight quarters, lacking income expectations twice in that span.
Friday, September 30