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Earnings to Watch Next Week: Coca-Cola, United Airlines, NetFlix and SVB Financial in Focus

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Vivek Kumar
·10 min read
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  • Monday (April 19)

  • Tuesday (April 20)

  • Wednesday (April 21)

  • Thursday (April 22)

  • Friday (April 23)

Earnings Calendar For The Week Of April 19

Monday (April 19)

IN THE SPOTLIGHT: COCA-COLA, UNITED AIRLINES

COCA-COLA: The world’s largest soft drink manufacturer is expected to report its first-quarter earnings of $0.50 per share, which represents a year-over-year decline of about 2% from $0.51 per share seen in the same quarter a year ago.

The company’s revenue growth to be flat at $8.6 billion. However, in the last two years, on average, Coca-Cola has beaten revenue estimates over 70% and earnings estimates of nearly 90%.

Coca-Cola, which has still not seen a full recovery to its pre-COVID-19 level, may be a decent investment opportunity at the moment. The stock traded around $60 pre-COVID in February 2020 and is 11% below that level. However, the stock has gained 40% since its March lows of $37, following the Fed’s stimulus package and measures announced by other economies. The gradual lifting of lockdowns and successful vaccine rollout has further enthused markets in anticipation of faster economic recovery,” noted analysts at TREFIS.

“However, the stock is unlikely to surpass its pre-Covid level anytime soon, as most of its business depends on demand from people going to entertainment venues, sporting events, etc. These locations are not yet fully operational in most parts of the world. With the recent spike in Covid cases, there are some forms of lockdowns imposed again in certain economies, thus slowing the recovery in demand. Therefore, in the absence of another complete lockdown (as was seen in 2020) and implementation of the vaccination program the stock is likely to rise, but full recovery to February 2020 levels looks unlikely in the near term. KO stock has a potential upside of about 10%.”

UNITED AIRLINES: One of the largest airlines in the world is expected to report a loss for the fifth consecutive time of $6.91 in the first quarter of 2021 on April 19 as the aviation service provider continues to be negatively impacted by the ongoing COVID-19 pandemic and renewed travel restrictions.

That would represent a year-over-year decline of over 168% from -$2.57 per share seen in the same quarter a year ago. The Chicago-based airline’s revenue would decline about 60% to around $3.3 billion.

“Most of the US airlines will report 1Q21 earnings the week of April 19 and 26. We expect the focus to be on higher fuel costs, the nascent traffic recovery, and improving the balance sheet. Our focus remains on domestic leisure airlines while watching borders reopening to determine recovery for international traffic. We also expect airlines to talk about repairing their balance sheet,” said Helane Becker, equity analyst at Cowen and Company.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 19

Ticker

Company

EPS Forecast

KO

Coca-Cola

$0.50

PLD

ProLogis

$0.37

MTB

M&T Bank

$3.00

ONB

Old National Bancorp

$0.41

UAL

United Airlines Holdings

-$6.98

CCK

Crown

$1.37

STLD

Steel Dynamics

$1.84

ZION

Zions Bancorporation

$1.18

PNFP

Pinnacle Financial Partners

$1.43

ACC

American Campus Communities

$0.15

HXL

Hexcel

-$0.16

WTFC

Wintrust Financial

$1.40

FNB

FNB

$0.25

SFBS

ServisFirst Bancshares

$0.95

HDS

HD Supply Holdings

$0.39

IBM

IBM

$1.68

EIDX

Eidos Therapeutics Inc

-$0.80

LII

Lennox International

$1.25

CDNS

Cadence Design Systems

$0.74

 

Tuesday (April 20)

IN THE SPOTLIGHT: NETFLIX

The California-based global internet entertainment service company is expected to report its first-quarter earnings of $2.97 per share, which represents year-over-year growth of over 90% from $1.57 per share seen in the same quarter a year ago. The streaming video pioneer would post revenue growth of over 23% to around $7.15 billion.

“We expect paid net adds to be in line with guide, helped in part by ongoing COVID shutdowns in some markets. Our view is supported by our positive 1Q survey data, which implies NFLX continues to lead living room TV apps. We also view the 45% of survey respondents who share passwords as a LT opp’ty for incremental subs. Reiterate Outperform & $675 Price Target,” noted John Blackledge, equity analyst at Cowen and Company.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 20

Ticker

Company

EPS Forecast

ABF

Associated British Foods

£17.31

XRX

Xerox

$0.29

AN

AutoNation

$1.85

DOV

Dover

$1.45

JNJ

Johnson & Johnson

$2.33

PG

Procter & Gamble

$1.19

ABT

Abbott

$1.27

PM

Philip Morris International

$1.40

LMT

Lockheed Martin

$6.31

DANOY

Danone PK

$0.46

TRV

Travelers Companies

$2.38

FITB

Fifth Third Bancorp

$0.69

EDU

New Oriental Education Tech

$0.06

NTRS

Northern

$1.49

KEY

KEY

$0.47

OMC

Omnicom

$1.13

CMA

Comerica

$1.38

SNV

Synovus Financial

$0.93

HOG

Harley Davidson

$0.90

IRDM

Iridium Communications

-$0.05

MAN

ManpowerGroup

$0.67

WBS

Webster Financial

$0.90

GATX

GATX Corp

$0.89

SFNC

Simmons First National

$0.52

BMI

Badger Meter

$0.42

NFLX

Netflix

$2.97

ISRG

Intuitive Surgical

$2.64

CSX

CSX

$0.96

EW

Edwards Lifesciences

$0.47

WRB

W.R. Berkley

$0.83

IBKR

Interactive Brokers

$0.87

THC

Tenet Healthcare

$0.73

HWC

Hancock Whitney Corp

$0.97

UCBI

United Community Banks

$0.64

FULT

Fulton Financial

$0.35

FMBI

First Midwest Bancorp

$0.37

EMR

Emerson Electric

$0.89

PCAR

PACCAR

$1.29

TER

Teradyne

$1.04

ENTG

Entegris

$0.72

CIT

CIT

$0.98

AVNT

Avient Corp

$0.71

ELS

Equity Lifestyle Properties

$0.35

PACW

Pacwest Bancorp

$0.91

BECN

Beacon Roofing Supply

$0.08

 

Wednesday (April 21)

IN THE SPOTLIGHT: SIGNATURE BANK

The New York-based full-service commercial bank is expected to report its first-quarter earnings of $2.85 per share, which represents year-over-year growth of over 50% from $1.88 per share seen in the same quarter a year ago. The bank would post revenue growth of about 18% to around $428 million.

SBNY has a unique business model, with its single-point-of-contact bankers, excellent credit culture, and a highly efficient operating structure. Its loan growth continues to outpace peers, given its relatively new focus on growing its PE/VC capital call lending business, while strategically de-emphasizing its NYC MF portfolio,” Ken Zerbe, equity analyst at Morgan Stanley.

“While we do expect losses in SBNY’s CRE portfolio, we believe the market is overly discounting this in the stock price, particularly given its strong underwriting history and conservative lending.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 21

Ticker

Company

EPS Forecast

HCSG

Healthcare Services

$0.27

ERIC

Ericsson

$0.11

TEL

TE Connectivity

$1.48

NDAQ

Nasdaq Omx

$1.72

RCI

Rogers Communications USA

$0.53

BKR

Baker Hughes Co

$0.11

HAL

Halliburton

$0.17

RANJY

Randstad Holdings

$0.46

SBNY

Signature Bank

$2.85

FHN

First Horizon National

$0.35

KNX

Knight Transportation

$0.70

BOKF

BOK Financial

$1.92

NEP

Nextera Energy Partners

$0.33

FCFS

FirstCash

$0.70

ASML

ASML

$3.06

NEE

NextEra Energy

$0.58

ANTM

Anthem

$6.38

LAD

Lithia Motors

$4.74

CP

Canadian Pacific Railway USA

$4.35

CACI

Caci International

$3.68

CMG

Chipotle Mexican Grill

$4.89

KMI

Kinder Morgan

$0.24

DFS

Discover Financial Services

$2.81

WHR

Whirlpool

$5.04

GGG

Graco

$0.50

GL

Globe Life Inc

$1.63

SLM

SLM

$1.05

REXR

Rexford Industrial Realty

$0.06

LSTR

Landstar System

$1.63

FR

First Industrial Realty

$0.24

RLI

RLI

$0.66

VMI

Valmont Industries

$1.92

SLG

SL Green Realty

-$0.14

UFPI

Universal Forest Products

$0.87

UMPQ

Umpqua

$0.44

TCBI

Texas Capital Bancshares

$1.09

BXS

BancorpSouth

$0.63

SNBR

Scs Group Plc

$1.85

CNS

Cohen & Steers

$0.76

RUSHA

Rush Enterprises

$0.52

PLXS

Plexus

$1.25

TBK

Triumph Bancorp

$0.91

BDN

Brandywine Realty

$0.02

EFX

Equifax

$1.53

LRCX

Lam Research

$6.60

CCI

Crown Castle International

$0.53

STL

Sterling Bancorp

$0.46

CHDN

Churchill Downs

$0.64

NWE

Northwestern

$1.12

RHI

Robert Half International

$0.80

SEIC

SEI Investments

$0.88

CVBF

CVB Financial

$0.37

LVS

Las Vegas Sands

-$0.27

PKX

Posco

$2.22

URI

United Rentals

$3.08

BZLFY

Bunzl plc

$0.15

ELISA

Elisa Oyj

€0.51

 

Thursday (April 22)

IN THE SPOTLIGHT: SVB FINANCIAL

The parent of Silicon Valley Bank is expected to report its first-quarter earnings of $6.47 per share, which represents year-over-year growth of about 153% from $2.55 per share seen in the same quarter a year ago.

In the last four consecutive quarters, on average, the company has delivered an earnings surprise of over 45%. The Santa Clara, California-based company would post revenue growth of over 50% to about $1.24 billion.

SIVB is one of the fastest-growing banks in our coverage universe, with an average of 20%+ loan and deposit growth annually since 2010, with the growth driven by its unique niche of lending to the technology and life sciences industries, including PE and VC capital call lines. While we expect growth to slow, we still see low-teens loan growth (well above peers) for the next several years,” noted Ken Zerbe, equity analyst at Morgan Stanley.

“We are Equal-weight the shares due to valuation. SIVB is trading at just over 20x forward earnings and more than 10 P/E points above its peers (versus a 4-6x multiple premium that we believe it deserves). SIVB‘s earnings are highly sensitive to changes in Fed funds. Rate increases would drive higher EPS.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 22

Ticker

Company

EPS Forecast

WSO

Watsco

$0.88

LUV

Southwest Airlines

-$1.88

VLO

Valero Energy

-$1.56

AAL

American Airlines

-$4.18

HCA

HCA

$3.31

SAP

SAP

$1.21

GPC

Genuine Parts

$1.14

FRME

First Merchants

$0.78

NUE

Nucor

$3.07

FCX

Freeport-McMoran

$0.51

PNR

Pentair Ordinary Share

$0.61

ALK

Alaska Air

-$3.68

SASR

Sandy Spring Bancorp

$1.02

ORI

Old Republic International

$0.46

DOW

Dow Chemical

$1.10

DHR

Danaher

$1.74

WNS

Wns Holdings

$0.69

FAF

First American Financial

$1.31

RS

Reliance Steel & Aluminum

$3.55

T

AT&T

$0.78

UNP

Union Pacific

$2.08

TPH

Tri Pointe Homes

$0.47

TAL

TAL International

-$0.23

HBAN

Huntington Bancshares

$0.32

AEP

American Electric Power

$1.18

BIIB

Biogen

$5.02

DHI

DR Horton

$2.18

EWBC

East West Bancorp

$1.25

BX

Blackstone

$0.75

DGX

Quest Diagnostics

$3.74

POOL

Pool

$1.14

ALLE

Allegion

$1.02

CLF

Cliffs Natural Resources

$0.35

TSCO

Tractor Supply

$0.97

TRN

Trinity Industries

$0.06

MKTX

MarketAxess

$2.12

BKU

BankUnited

$0.74

SNA

Snap-On

$3.03

IQV

IQVIA Holdings Inc

$1.85

SON

Sonoco Products

$0.86

ODFL

Old Dominion Freight Line

$1.58

SKX

Skechers USA

$0.49

INDB

Independent Bank

$1.09

HTH

Hilltop

$1.01

CE

Celanese

$2.98

OZK

Bank Ozk

$0.86

FFBC

First Financial Bancorp

$0.47

CSL

Carlisle Companies

$0.68

SAM

Boston Beer

$2.60

STX

Seagate Technology

$1.33

VICR

Vicor

$0.19

WWE

World Wrestling Entertainment

$0.20

ABCB

Ameris Bancorp

$1.13

ARI

Apollo Commercial Real Est Finance

$0.33

GBCI

Glacier Bancorp

$0.75

SBCF

Seacoast Banking Of Florida

$0.48

VRSN

Verisign

$1.34

MAT

Mattel

-$0.34

WSFS

Wsfs Financial

$0.86

SNAP

Snap

-$0.21

SIVB

SVB Financial

$6.47

ASB

Associated Banc

$0.43

FE

FirstEnergy

$0.69

ADS

Alliance Data Systems

$3.21

CTXS

Citrix Systems

$1.42

PBCT

People’s United Financial

$0.34

CAJ

Canon

$0.27

WST

West Pharmaceutical Services

$1.42

NVR

NVR

$61.90

FFIN

First Financial Bankshares

$0.37

VVV

Valvoline Inc

$0.37

SAFE

3 Sixty Risk

$0.33

ASR

Grupo Aeroportuario Del Sureste

$23.55

ORAN

Orange

$0.24

INTC

Intel

$1.14

KPELY

Keppel Corporation

$0.14

SAVE

Spirit Airlines

-$2.55

CS

Credit Suisse

-$0.40

 

Friday (April 23)

Ticker

Company

EPS Forecast

SXT

Sensient Technologies

$0.75

ALV

Autoliv

$1.43

SLB

Schlumberger

$0.18

AXP

American Express

$1.60

KMB

Kimberly Clark

$1.93

HON

Honeywell International

$1.80

RF

Regions Financial

$0.47

GNTX

Gentex

$0.49

E

ENI

$0.42

 

This article was originally posted on FX Empire

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