Earnings Week Ahead: Walmart, Home Depot, Alibaba, Cisco, and more

May 12, 2023 2:07 PM ETWalmart Inc. (WMT), HD, TGT, TJXTCOM, BIDU, CSCO, BBWI, AMAT, ROST, TTWO, PGR, KSS, FL, JACK, SFL, SNPS, TSEM, CPRT, DE, RBC, VSAT, SSYS, BURBY, WKHS, LSPD, WIX, BABA, CTLT, JD, BOOT, KEYS, FTCH, GOOS, SE, BILI, HUYA, BJ, STNE, TME, SNDL, DT, GOEV, PSFE, LICY, RUM, BOWL, LLAP, MNDY, DOCS, DOLE, ONON, KD, GOOS:CA, LSPD:CABy: Niloofer Shaikh, SA News Editor

In the upcoming third week of May, the pace of quarterly earnings will slow down. Investors are eagerly anticipating important announcements from prominent retailers such as Walmart (NYSE:WMT), Home Depot (NYSE:HD) and Target (NYSE:TGT), which will provide valuable insights into the state of the consumer.

Additionally, TJX Companies (NYSE:TJX), Ross Stores (ROST), Burberry (OTCPK:BURBY), BJ’s Wholesale Club (BJ), Copart (CPRT) and Kohl’s Corporation (KSS) are among the scheduled reports that will contribute to the evolving understanding of consumer trends.

Meanwhile, Chinese tech giants Baidu (BIDU) and Alibaba (BABA) are set to issue closely observed reports that will attract significant attention.

Furthermore, the week will also feature earnings results from Rumble (RUM), Applied Materials (AMAT), Cisco Systems (CSCO), Deere (DE), Canoo (GOEV) Bilibili (BILI), and Li-Cycle Holdings (LICY).

Below is a rundown of major quarterly updates anticipated in the week of May 15 to 19:

Monday, May 15

Rumble (RUM)

Rumble (RUM) is all set to release its Q1 results after the closing bell on Monday. Rumble lost about 6% in Wednesday’s session after Tucker Carlson announced plans to start a new show on Twitter. The company had seen a boost in its shares when Carlson moved from Fox Corp.

Consensus EPS Estimates: -$0.01 (one analyst estimate)
Consensus Revenue Estimates: $15.93M (two analyst estimate)
Earnings Insight: The company has reported revenue growth of ~580% in Q4.

Also reporting: Catalent (CTLT), Monday.com (MNDY), Tower Semiconductor (TSEM), Workhorse Group (WKHS), SFL Corporation (SFL), Sundial (SNDL), Canoo (GOEV), Li-Cycle (LICY), Terran Orbital (LLAP), and Workhorse Group (WKHS).

Tuesday, May 16

Home Depot (HD)

Home Depot (HD) will release its Q1 earnings results before the opening bell on Tuesday. Analysts expect revenue and EPS to decline compared to last year. After Q4 results, Home Depot shares slumped on a sales miss and weak 2023 outlook.

Consensus EPS Estimates: $3.82
Consensus Revenue Estimates: $38.42B
Earnings Insight: Home Depot has a track record of beating EPS estimates in the past eight quarters and revenue estimates in seven of the past eight quarters.

Also reporting: Baidu (BIDU), Sea Limited (SE), ON Holding (ONON), Tencent Music (TME), HUYA (HUYA), Stratasys (SSYS) Kyndryl (KD), Doximity (DOCS), Paysafe (PSFE), Lightspeed commerce (LSPD) and Keysight Technologies (KEYS).

Wednesday, May 17

Cisco Systems (CSCO)

Cisco Systems (CSCO) is scheduled to release its Q3 results on Wednesday, with the figures coming out after the closing bell. Analysts expect year-over-year growth for revenue, following upbeat Q2 results.

Recently, the company announced a plan to start manufacturing in India. The move is meant to diversify its supply chain and drive more than $1B in combined domestic production and exports in the years to come.

Consensus EPS Estimates: $0.97
Consensus Revenue Estimates: $14.36B
Earnings Insight: The company has beaten EPS estimates in the past 8 quarters and revenue estimates in 6 of the 8 quarters.

Target (TGT)

Target (TGT) is due to release its Q1 earnings results before the opening bell on Wednesday. After an upbeat Q4 report, the company saw softer Q1 and anticipated comparable sales in the range of a low-single digit decline to a low-single digit increase.

The firm's most-recent guidance also called for an operating income margin rate of 4 to 5 percent, as well as adjusted EPS in a range from $1.50 to $1.90. The EPS projection represented a disappointment at the time, with analysts then looking for a figure around $2.16.

Consensus EPS Estimates: $1.80
Consensus Revenue Estimates: $25.33B
Earnings Insight: The company has beaten EPS estimates in 5 of the past 8 quarters, topping revenue estimates in 6 of those reports.

Also reporting: Trip.com (TCOM), Take-Two Interactive (TTWO), TJX Companies (TJX), Jack in the Box (JACK), Bowlero (BOWL), Synopsys (SNPS), Boot Barn Holdings (BOOT), Wix.com (WIX), StoneCo (STNE), Dynatrace (DT) Viasat (VSAT) and Progressive Corporation (PGR).

Thursday, May 18

Walmart (WMT)

Retail giant Walmart (WMT) is all set to release its Q1 results before the opening bell on Thursday. The company provided cautious Q1 and 2023 targets after topping the consensus mark in Q4.

However, Wall Street analysts expect EPS to exceed the company’s outlook in Q1. The retailer anticipated Q1 adjusted EPS in the range of $1.25 to $1.30. Over the last 3 months, EPS estimates have seen 5 upward revisions and 20 downward; Revenue estimates have seen 14 upward revisions and zero downward.

Consensus EPS Estimates: $1.31
Consensus Revenue Estimates: $147.83B
Earnings Insight: Walmart has topped EPS estimates in 7 of the past 8 quarters and revenue expectations in all the 8 quarters.

Alibaba (BABA)

Chinese tech giant Alibaba (BABA) is all set to publish its Q4 financial results before the market opens on Thursday. The company’s shares surged as much as 6% on Thursday after better-than-expected earnings results of JD.com (JD) and amid reports that the Chinese e-commerce giant's international shopping business is exploring an IPO in the United States.

Over the last 3 months, EPS estimates have seen 3 upward revisions and 12 downward. Revenue estimates have seen 1 upward revision and 16 downward.

Consensus EPS Estimates: $1.36
Consensus Revenue Estimates: $30.19B
Earnings Insight: The company has beaten EPS estimates in 6 of the past 8 quarters and revenue estimates in 3 of those reports.

Also reporting: Applied Materials (AMAT), Ross Stores (ROST), Burberry (OTCPK:BURBY), BJ’s Wholesale Club (BJ), Copart (CPRT), Kohl’s Corporation (KSS), Dole (DOLE), Bilibili (BILI), Bath & Body Works (BBWI), Canada Goose (GOOS) and Farfetch (FTCH).

Friday, May 19

Deere & Co (DE)

Deere & Co (DE) will report Q2 results before the market opens on Friday. Analysts expect year-over-year growth after upbeat results last quarter. Wall Street analysts are very optimistic, generally giving the stock a Buy rating.

Consensus EPS Estimates: $8.43
Consensus Revenue Estimates: $14.84B
Earnings Insight: The company has topped EPS and revenue estimates in 6 of the past 8 consecutive quarters.

Also reporting: Foot Locker (FL) and RBC Bearings (RBC).

Recommended For You