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Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus

  • Monday (November 8)

  • Tuesday (November 9)

  • Wednesday (November 10)

  • Thursday (November 11)

  • Friday (November 12)

Earnings Calendar For The Week Of November 8

Monday (November 8)

IN THE SPOTLIGHT: PAYPAL

The leading global payments company PayPal will post earnings of $1.07 per share in the third quarter, more or less in line with the reading seen in the same period a year ago. San Jose, California-based company would post revenue growth of about 14% to around $6.2 billion.

PayPal estimates revenues of about $6.15 billion to $6.25 billion during the third quarter of 2021, up by 13-14% from the previous quarter. The company anticipates non-GAAP earnings per share of $1.07 during Q3 of 2021.

PayPal, one of our top OWs (Overweight), is the preferred digital wallet option for non-Amazon merchants, as evidenced by its online acceptance lead vs. other digital wallets and industry-low attrition. PayPal’s efforts to offer a seamless and secure checkout experience ties its TPV growth rate with the secular growth of eCommerce. As consumers increase their habitual use of PayPal, the company should grow its TPV at or above the rate of eCommerce (ex-Amazon),” noted James Faucette, equity analyst at Morgan Stanley.

“Venmo, POS and partnership monetization could offer additional TPV and revenue growth, while operating leverage from its scale support 20%+ earnings growth over the medium term, despite near-term headwinds from eBay and macro impacts.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 8

Ticker

Company

EPS Forecast

FIVN

Five9

$0.24

THS

TreeHouse Foods

$0.50

BKI

Black Iron Inc.

$0.57

COTY

Coty

$0.02

AEIS

Advanced Energy Industries

$0.82

AMRS

Amyris

-$0.15

SANM

Sanmina

$0.99

AU

Anglogold Ashanti

$0.36

MRTX

Mirati Therapeutics

-$2.88

CTRE

CareTrust REIT

$0.20

PSEC

Prospect Capital

$0.18

AMC

AMC Entertainment

-$0.53

VAC

Marriottacations Worldwide

$1.42

JKHY

Jack Henry Associates

$1.32

PRI

Primerica

$2.98

NNI

Nelnet

$1.68

OSH

Oak Street Health

-$0.42

ACAD

Acadia Pharmaceuticals

-$0.26

FSK

FS KKR Capital

$0.61

MWA

Mueller Water Products

$0.19

AEL

American Equity Investment Life

$0.76

PRAA

PRA

$0.73

DOOR

Masonite International

$1.87

TRIP

TripAdvisor

$0.24

NHI

National Health Investors

$0.98

TREX

Trex

$0.58

IFF

International Flavors Fragrances

$1.37

ENV

Envestnet

$0.58

TWO

Two Harbors Investment

$0.19

CBT

Cabot

$1.03

PYPL

PayPal

$1.07

Tuesday (November 9)

IN THE SPOTLIGHT: MIDDLEBY

Middleby, a global leader in the foodservice equipment industry, is expected to report earnings of $2.03 in the third quarter, which represents year-over-year growth of over 50% from $1.34 per share seen in the same period a year ago.

The U.S. foodservice equipment maker will report revenue of $837.32 million, up 32% from the same period a year ago. It is worth noting that the company has always surpassed consensus earnings estimates in the last four quarters.

“The outlook for MIDD appears positive heading into 3Q21 earnings next week, with ITW Food Equipment seeing ~50% growth in restaurant revenue and JBT Foodtech generating+15% organic growth. Restaurant commentary points to investment activity centred around increasing efficiency/productivity, although we could see new builds pushed out due to labour/supply chain constraints,” noted Saree Boroditsky, an equity analyst at Jefferies.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 9

Ticker

Company

EPS Forecast

HAIN

Hain Celestial

$0.24

IGT

International Game Technology

$0.53

JHX

James Hardie Industries

$0.32

HAE

Haemonetics

$0.61

IIVI

Ii Vi

$0.83

FSS

Federal Signal

$0.46

TAC

TransAlta USA

$0.11

WRK

WESTROCK

$1.17

STWD

Starwood Property

$0.52

CAH

Cardinal Health

$1.33

PLTR

Palantir Technologies Inc.

$0.04

DHI

DR Horton

$3.39

SGMS

Scientific Games

$0.37

ELY

Callaway Golf

$0.03

OCGN

Ocugen

-$0.04

SEAS

SeaWorld Entertainment

$1.66

SATS

EchoStar

$0.33

ITCI

Intra Cellular Therapies

-$0.90

MIDD

Middleby

$2.03

EC

Ecopetrol

$2,315.76

ADT

ADT

$0.08

SYY

Sysco

$0.86

G

Genpact

$0.56

JAZZ

Jazz Pharmaceuticals

$3.31

RNG

RingCentral

$0.33

TTEC

TeleTech

$0.84

NSTG

NanoString Technologies

-$0.55

LGND

Ligand Pharmaceuticals

$1.07

BAK

Braskem

$2.34

EPAY

Bottomline Technologies

$0.25

PAAS

Pan American Silver USA

$0.35

NUVA

NuVasive

$0.54

CNNE

Cannae

$0.09

COKE

Coca Cola Bottlingconsolidated

$7.86

PAY

VeriFone Systems

$0.01

CCXI

ChemoCentryx

-$0.45

SWX

Southwest Gas

$0.13

DAR

Darling Ingredients

$0.82

ASH

Ashland

$1.34

EDU

New Oriental Education Tech

-$0.05

GOL

Gol Linhas Aereas Inteligentes

-$1.01

Wednesday (November 10)

IN THE SPOTLIGHT: WALT DISNEY

Walt Disney, a family entertainment company, is expected to report its fiscal fourth-quarter earnings of $0.44 per share, which represents year-over-year growth of over 320% from a loss of -$0.20 per share seen in the same period a year ago.

The family entertainment company would post revenue growth of 28% to $18.8 billion. The company has beaten earnings per share (EPS) estimates all times in the last four quarters, according to ZACKS Research.

As of July, Disney+ and Hotstar had more than 116 million subscribers, while Hulu and ESPN+ combined had more than 57 million subscribers. Barclays analysts cite slowing growth and the fact that Disney+ produces far less new content than Netflix, as reasons for their scepticism. Disney+ claims to have 250 million subscribers by 2024, Fobes reported.

“We see Disney on the shortlist of global streaming majors. Despite significant continued upward earnings revisions, shares have lagged as net adds expectations ran ahead of content deliveries. As the content pipeline builds into ’22 and ’23, core net adds should accelerate, driving shares,” noted Benjamin Swinburne, equity analyst at Morgan Stanley.

Disney is building content assets that enable it to take advantage of the significant direct-to-consumer streaming opportunity ahead. Disney’s underlying IP remains best-in-class, supporting long term content monetization opportunities. During this period of FCF pressure from Parks closures, ESPN’s FCF generation is key to driving down leverage. Historical cycles suggest a potential return to above prior peak US Parks revenues in FY23.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 10

Ticker

Company

EPS Forecast

AY

Atlantica Yield

$0.60

PRGO

Perrigo

$0.65

ADNT

Adient PLC

-$0.75

WWW

Wolverine World Wide

$0.61

ENR

Energizer

$0.72

GIB

CGI Group USA

$1.08

AER

AerCap

$2.22

ELP

Companhia Paranaense De Energia

$0.66

MSGS

Madison Square Garden Sports

-$1.30

PAM

Pampa Energia

$0.93

BRKS

Brooks Automation USA

$0.77

YPF

YPF

$0.31

ENS

Enersys

$1.07

EBR

Centrais Eletricas Brasileiras

$0.25

FICO

Fair Isaac

$3.18

CCMP

Cabot Microelectronics

$1.87

DIS

Walt Disney

$0.52

BRFS

BRF

$0.03

ATO

Atmos Energy

$0.34

KGC

Kinross Gold USA

$0.06

Thursday (November 11)

Ticker

Company

EPS Forecast

CAE

Cae USA

$0.16

GFI

Gold Fields

$0.21

AEG

Aegon

-$0.02

TPR

Tapestry Inc

$0.70

BAM

Brookfield Asset Management USA

$0.83

EPC

Edgewell Personal Care

$0.84

UTZ

Utz Brands

$0.16

FLO

Flowers Foods

$0.25

CELH

Celsius

$0.06

SBH

Sally Beauty

$0.52

MT

Arcelormittal

$4.01

PVG

Pretium Resources

$0.16

SBS

Companhia De Saneamento Basico

$0.19

BLFS

BioLife Solutions

-$0.07

Friday (November 12)

IN THE SPOTLIGHT: ASTRAZENECA

The British-Swedish pharmaceutical giant AstraZeneca is expected to report earnings per share of GBP 92.54 in the third quarter on revenue of GBP 7.04 billion.

“We expect Q3’21 sales to reflect lower levels of cancer diagnoses and VBP pressures in China, with the gross margin continuing to be impacted by COVID-19 vaccine sales and changes in product mix. With collaboration revenues / OOI phased into 4Q21, consensus Q3’21 earnings appear c.8% too high,” noted Mark D Purcell, equity analyst at Morgan Stanley.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 12

Ticker

Company

EPS Forecast

MFG

Mizuho Financial

$0.08

SMFG

Sumitomo Mitsui Financial

$0.20

CIG

Companhia Energetica Minas Gerais

$0.07

SPB

Spectrum Brands

$0.79

ROLL

Rbc Bearings

$1.05

 

This article was originally posted on FX Empire

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