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Next week will see the release of earnings reports from some notable companies, results that could have significant implications for sectors like energy, software, retail, and automobiles. Salesforce (CRM), Best Buy (NYSE:BBY) and Nio (NYSE:NIO) are among the major companies slated to report earnings next week, along with notable cybersecurity players Okta (OKTA) and CrowdStrike (NASDAQ:CRWD).
Further enriching the roster of quarterly updates will be Chewy (CHWY), Pinduoduo (PDD), and Lululemon Athletica (NASDAQ:LULU).
Below is a rundown of the major quarterly updates anticipated in the week of August 28 to September 1:
Monday, August 28
Baozun (BZUN)
Chinese e-commerce service platform Baozun (BZUN) is due to report Q2 earnings prior to the market open on Monday. The company’s value has dropped by 52% over the past year. Meanwhile, Seeking Alpha’s Quant Rating system has given it a Hold rating, a more cautious view than the Buy rating given by Wall Street analysts.
“BZUN has the ambitions to expand overseas, but only time will tell if its new Baozun International business unit will be successful, ” writes SA contributor The Value Pendulum.
- Consensus EPS Estimates: -$0.03 (one analyst estimate)
- Consensus Revenue Estimates: $328.69M
- Earnings Insight: The company has beaten EPS estimates in only 1 of past 8 quarters, rising above revenue expectations in 50% of those reports.
Also reporting: Nordic American Tankers (NAT), HEICO (HEI), JOANN (JOAN), Noah Holdings (NOAH), Afya Limited (AFYA), FinVolution Group (FINV), and more
Tuesday, August 29
Best Buy (BBY)
Best Buy (BBY) is due to report its Q2 quarter earnings before the market opens on Tuesday. The electronics retailer posting mixed Q1 results, hurt by rising inflation and poor customer confidence. The company guided comparable sales to decline in the range of 6% to 8% and non-GAAP operating income rate to be approximately 3% or slightly higher in Q2. Analysts expect a Y/Y decline in earnings.
Both sell-side analysts and Seeking Alpha’s Quant Rating system maintain a cautious stance on the stock, assigning it Hold ratings. SA author Marcos Rodrigues says, “The introduction of paid membership programs is expected to contribute positively to Best Buy’s financial performance in the coming years.”
- Consensus EPS Estimates: $1.07
- Consensus Revenue Estimates: $9.52B
- Earnings Insight: Best Buy has beaten EPS estimates in 8 straight quarters, missing revenue expectations in 4 of those reports.
NIO Inc. (NIO)
NIO Inc. (NIO) is all set to release its Q2 earnings before the bell on Tuesday. Analysts forecast a Y/Y fall in profitability as price battles in the EV industry heat up, despite solid performances by peers LI Auto and below-expectation results from XPeng. The Wall Street consensus remains a Buy, while Seeking Alpha’s Quant ratings maintain a Hold on the stock due to concerns on profitability and valuation.
With a bearish stance on the stock, SA contributor Tech Stock Pros predicts, “It will be difficult for NIO to improve its gross margin while ramping production output in 2H23.”
- Consensus EPS Estimates: -$0.24
- Consensus Revenue Estimates: $1.27B
- Earnings Insight: NIO has topped EPS estimates in 1 of the past 8 quarters and revenue expectations in 5 of those quarters.
Also reporting: American Woodmark (AMWD), Bank of Montreal (BMO), Bank of Nova Scotia (BNS), Big Lots (BIG), Catalent (CTLT), Donaldson (DCI), J.M. Smucker (SJM), Malibu Boats (MBUU), Pinduoduo (PDD), Ambarella (AMBA), Box (BOX), Hewlett Packard Enterprise (HPE), HP Inc. (NYSE:HPQ), nCino (NCNO), PVH (PVH), ZTO Express (ZTO) and more.
Wednesday, August 30
CrowdStrike (CRWD)
Cybersecurity firm CrowdStrike (CRWD) is slated to post its Q2 earnings after the bell on Wednesday. Analysts expect the company to maintain its trend of upbeat results, even after rival Palo Alto Networks recently announced a mixed Q2 report.
“Despite being a relatively young company spending vast resources on marketing and R&D, CRWD consistently demonstrates a wide free cash flow margin. CrowdStrike looks like a wonderful company with an attractive valuation,” highlights SA author Dair Sansyzbayev.
- Consensus EPS Estimates: $0.56
- Consensus Revenue Estimates: $724.39M
- Earnings Insight: CrowdStrike has beaten both EPS and revenue estimates in 8 straight quarters.
Also Reporting: Okta (OKTA), Brown-Forman (BF.B), Chewy (CHWY), Conn’s (CONN), Cooper (COO), Five Below (FIVE), Greif (GEF), MasterCraft (MCFT), Patterson Companies (PDCO), Salesforce (CRM), Veeva Systems (VEEV), Victoria’s Secret (VSCO) and more.
Thursday, August 31
Broadcom (NASDAQ:AVGO)
Following blockbuster results from Nvidia (NVDA), analysts expect Broadcom (AVGO) to deliver a strong showing in its Q3 earnings, which are due after the bell on Thursday.
Recently, the UK’s antitrust regulator cleared the $61B acquisition of VMware by the company. The deal is still awaiting approval from China’s antitrust regulator as well as Japan’s antitrust authority.
Earlier this week, Seeking Alpha Quant Rating system changed its view from Strong Buy to Hold on unfavorable valuation, while Wall Street analysts maintain a consensus Buy rating.
SA contributor High Watermark Investments raised concern, “Broadcom’s strategy of relying on AI for growth and acquiring expensive companies may not be sustainable given its balance sheet and the current interest rate environment.”
- Consensus EPS Estimates: $10.43
- Consensus Revenue Estimates: $8.86B
- Earnings Insight: Broadcom (AVGO) has exceeded EPS and revenue estimates in 8 straight quarters.
Lululemon Athletica (LULU)
Athletic apparel maker Lululemon Athletica (LULU) is due to report its Q2 earnings after the bell on Thursday. Analysts expect Y/Y growth in earnings despite some recent pressure in luxury spending in the U.S.
SA author Geoffrey Seiler writes, “Even if LULU were to have an earnings hiccup or issue softer- than-expected guidance, my long-term view on the name would not likely change. This is a great business with some nice growth drivers still ahead – I particularly like its long-term prospects in China.”
- Consensus EPS Estimates: $2.54
- Consensus Revenue Estimates: $2.17B
- Earnings Insight: Lululemon has exceeded EPS estimates in 8 consecutive quarters, missing revenue expectations only once in that span.
Also reporting: 1-800-FLOWERS (FLWS), Academy Sports + Outdoors (ASO), BRP Inc. (DOOO), Caleres (CAL), Campbell Soup (CPB), CIBC (CM), Ciena (CIEN), Dollar General (DG), Genesco (GCO), GMS (GMS), Hello Group (MOMO), Hormel Foods (HRL), KE Holdings (BEKE), Ollie’s Bargain Outlet (OLLI), Signet Jewelers (SIG), Titan Machinery (TITN), UBS AG (UBS), Calavo Growers (CVGW), Dell (NYSE:DELL), Elastic (ESTC), HashiCorp (HCP), MongoDB (MDB), Nutanix (NTNX), Oxford Industries (OXM), PagerDuty (PD), SentinelOne (S), VMware (VMW), Quanex Building Products (NX) and more.
Friday, September 1
Friday is a quiet day for earnings reports, with confirmed results coming from Canadian Western Bank (OTCPK:CBWBF) and Dingdong (Cayman) Limited (DDL) during pre-market hours.
