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Earnings to Watch Next Week: Palo Alto Networks, Home Depot, Nvidia and Salesforce in Focus

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Vivek M. Kumar
·14 min read
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  • Monday (February 22)

  • Tuesday (February 23)

  • Wednesday (February 24)

  • Thursday (February 25)

  • Friday (February 26)

Earnings Calendar For The Week Of February 22

Monday (February 22)

IN THE SPOTLIGHT: PALO ALTO NETWORKS

The Santa Clara, California-based cybersecurity company is expected to report a profit of $1.43 per share in the fiscal second quarter, which represents year-over-year growth of over 20% from $1.19 per share seen in the same quarter a year ago.

The global cybersecurity leader would post year-over-year revenue growth of over 20% to $985.681 million.

“A rapidly growing Next-Gen Security platform plus a stable core network security business remains the equation for durable 20%+ billings growth heading into the FQ2 print. More clarity into the dual growth engines should drive further multiple expansion, with our SoTP valuation yielding a $515 price target,” noted Keith Weiss, equity analyst at Morgan Stanley.

Palo Alto Networks offers a disruptive platform, well-positioned to address the evolving threat landscape. We believe Palo Alto Networks will continue to differentiate itself from its peers as it proves out a broader TAM around a NextGen Security Platform (and executing to that opportunity). With the strong billings base and the continued drive towards higher operating margins, we remain confident in the durability of our FCF estimates. Currently trading at 22x CY22e FCF vs. our model which looks for 18% FCF CAGR from CY21-26e and terminal 23x CY26e FCF, we continue to see attractive risk/reward in PANW shares.”

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

Ticker

Company

EPS Forecast

DPH

Dechra Pharma

£32.57

BNZL

Bunzl

£71.65

DISCB

Discovery Communications Discb

$0.72

DISCA

Discovery Communications

$0.71

GHC

Graham

$8.87

DISCK

Discovery Communications Disck

$0.72

KBR

KBR

$0.49

DORM

Dorman Products

$0.92

KFY

Korn Ferry International

$0.51

CTB

Cooper Tire Rubber

$0.92

THRM

Gentherm

$0.65

DISH

Dish Network

$0.78

BZLFY

Bunzl plc

$0.13

CDNS

Cadence Design Systems

$0.74

PANW

Palo Alto Networks

$1.43

SBAC

SBA Communications

$0.52

RSG

Republic Services

$0.81

WMB

Williams Companies

$0.30

O

Realty Ome

$0.35

SID

Companhia Siderurgica Nacional

$0.11

OKE

ONEOK

$0.74

IR

Ingersoll Rand

$0.45

EXR

Extra Space Storage

$0.91

TREX

Trex

$0.36

FIVN

Five9

$0.23

NDSN

Nordson

$1.06

FANG

Diamondback Energy

$0.82

LSI

LIFE STORAGE

$0.54

XEC

Cimarex Energy

$0.68

AL

Air Lease

$0.75

PSB

PS Business Parks

$0.80

SBRA

Sabra Health Care Reit

$0.18

CNNE

Cannae

-$0.09

NHI

National Health Investors

$1.01

AWR

American States Water

$0.47

BCC

Boise Cascade

$0.99

HTA

Healthcare Of America

$0.11

RIG

Transocean

-$0.18

MRO

Marathon Oil

-$0.20

CVI

CVR Energy

-$0.72

GDOT

Green Dot

$0.18

WRI

Weingarten Realty Investors

$0.10

ACC

American Campus Communities

$0.09

OXY

Occidental Petroleum

-$0.58

ICAD

Icade

€2.33

PPERY

PT Bank Mandiri Persero TBK

$0.09

MGEE

Mge Energy

$0.51

CCU

Compania Cervecerias Unidas

$238.63

TPL

Texas Pacific Land

$4.66

SHCAY

Sharp ADR

$0.08

BKRKY

Bank Rakyat

$0.13

PKX

Posco

$1.52

WF

Woori Bank

$0.75

GPFOY

Financiero Inbursa ADR

$0.13

OSH

Oak Street Health

-$0.25

YALA

Yalla

$0.12

KHOLY

Koc Holdings AS

$0.20

DM

Dominion Midstream Partners

-$0.06

AU

Anglogold Ashanti

$1.85

CRI

Carters

$2.74

AVST

Avast Holdings

£0.12

 

Tuesday (February 23)

IN THE SPOTLIGHT: HOME DEPOT

The U.S. largest home improvement retailer is expected to report a profit of $2.61 per share in the fourth quarter, which represents year-over-year growth of over 14% from $2.28 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 3.60%.

The Cobb County, Georgia-based company’s revenue would surge more than 18% to $30.45 billion.

Home Depot has witnessed continued strong demand for home-improvement projects as customers spent more time at home during the coronavirus pandemic. The company has been gaining from the high-demand environment, driven by investments in its business. This coupled with broad-based strength across stores and geographies has been boosting comparable sales (comps) performance,” noted analysts at Zacks Equity Research.

“Amid the pandemic, customers have been blending the physical and digital elements of the shopping experience more than ever before making the company’s interconnected One Home Depot strategy the most relevant. Its interconnected retail strategy and underlying technology infrastructure have helped consistently boost web traffic in the past six months. Additionally, it has been benefiting from enhanced delivery and fulfilment options to provide a robust interconnected experience. Gains from these efforts are likely to have aided the company’s sales and earnings performance in the fiscal fourth quarter.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 23

Ticker

Company

EPS Forecast

UTG

Unite Group

£45.10

HSBA

HSBC Holdings

£0.01

CROX

Crocs

$0.82

ARNC

Arconic Inc

$0.35

CBRL

Cracker Barrel Old Country Store

$0.75

WLK

Westlake Chemical

$0.74

MDT

Medtronic

$1.15

SPR

Spirit AeroSystems

-$0.83

FE

FirstEnergy

$0.47

BCO

Brinks

$0.98

HD

Home Depot

$2.61

BNS

Scotiabank

$1.24

BMO

Bank Of Montreal USA

$1.69

CBRE

CBRE Group Inc

$0.94

LDOS

Leidos

$1.61

BLD

TopBuild Corp

$1.95

NXST

Nexstar Broadcasting

$6.99

TRI

Thomson Reuters USA

$0.46

M

Macy’s

$0.05

AWI

Armstrong World Industries

$0.67

RLGY

Realogy

$0.57

ETRN

Equitrans Midstream Corp

$0.34

LGIH

LGI Homes

$4.05

SATS

EchoStar

-$0.03

GMAB

Genmab A/S

kr7.68

XNCR

Xencor

-$0.38

ARNA

Arena Pharmaceuticals

-$1.84

EC

Ecopetrol

$0.22

HSBC

HSBC

$0.08

TX

Ternium

$1.02

COG

Cabot Oil Gas

$0.21

CBD

Companhia Brasileira De Distrib

$0.46

FLS

Flowserve

$0.53

PXD

Pioneer Natural Resources

$0.69

INFN

Infinera

$0.02

MTG

MGIC Investment

$0.40

XP

XP Inc

$1.05

SQ

Square

$0.24

INTU

Intuit

$0.99

CSGP

CoStar

$2.42

VRSK

Verisk Analytics

$1.30

PODD

Insulet

-$0.04

HEI

Heico

$0.48

MASI

Masimo

$0.85

EQH

AXA Equitable Holdings Inc

$1.21

CHE

Chemed

$5.13

TOL

Toll Brothers

$0.47

WES

Western Gas Partners

$0.59

HALO

Halozyme Therapeutics

$0.53

INSP

Inspire Medical Systems Inc

-$0.46

JAZZ

Jazz Pharmaceuticals

$4.24

Y

Alleghany

$5.04

RRC

Range Resources

$0.05

EPRT

Essential Properties Realty Trust Inc

$0.16

MTDR

Matador Resources

$0.12

CHX

ChampionX Corp

$0.04

MATX

Matson

$1.36

APLE

Apple Hospitality

-$0.14

ATRC

AtriCure

-$0.28

PEB

Pebblebrook Hotel

-$0.90

DAR

Darling Ingredients

$0.42

MRTX

Mirati Therapeutics

-$2.28

ALLK

Allakos

-$0.85

JBGS

JBG SMITH Properties

$0.29

IHG

Intercontinental Hotels

$0.94

VERX

Vertex Inc. Cl A

$0.07

JYSK

Jyske Bank

kr8.46

VIV

Telefonica Brasil

$0.15

CXO

Concho Resources

$1.18

MNTA

Momenta Pharmaceuticals

-$0.50

IHG

Intercontinental

£0.97

VJBA

Vestjysk Bank

kr0.08

FMS

Fresenius Medical Care

$0.74

 

Wednesday (February 24)

IN THE SPOTLIGHT: NVIDIA

The Santa Clara, California- based multinational technology company is expected to report a profit of $2.80 per share in the fiscal fourth quarter, which represents year-over-year growth of over 48% from $1.89 per share seen in the same quarter a year ago.

The company, which designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market, forecasts revenue of $4.8 billion.

NVIDIA‘s fiscal fourth-quarter performance is likely to have benefited from growth across all of its business segments except the Automotive and Professional Visualization units. NVIDIA is also anticipated to have benefited from strength in its data-centre business on the growing adoption of cloud-based solutions amid the coronavirus crisis-induced work-from-home wave. Increase in Hyperscale demand and growing adoption in the inference market are likely to have been tailwinds during the to-be-reported quarter,” noted analysts at Zacks Equity Research.

“Additionally, the pandemic-induced remote-working wave is likely to have bolstered sales of graphic chips utilized in desktops and laptops. This, in turn, is anticipated to have aided the quarterly performance. Nonetheless, disruptions in retail channel sales due to lockdown and social-distancing measures implemented by governments across the world to contain the spread of coronavirus might have partially offset the benefit of solid demand for the remote-working and online-learning hardware infrastructure.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 24

Ticker

Company

EPS Forecast

RY

Royal Bank Of Canada

$1.78

TCP

TC Pipelines

$0.99

RGEN

Repligen

$0.31

ENBL

Enable Midstream Partners

$0.11

LOW

Lowe’s Companies

$1.20

LIVN

LivaNova PLC

$0.66

HZNP

Horizon Pharma

$1.05

IONS

Ionis Pharmaceuticals

$0.26

CLH

Clean Harbors

$0.39

VER

VEREIT

$0.19

IRM

Iron Mountain

$0.31

WEX

WEX

$1.46

AVA

Avista

$0.79

SBGI

Sinclair

$5.07

ITRI

Itron

$0.34

SIX

Swiss Exchange

-$0.89

WYND

Wyndham Destinations Inc

$0.49

PNW

Pinnacle West Capital

$0.04

VRT

Veritas Pharma

$0.33

HFC

HollyFrontier

-$0.71

ODP

Office Depot

$0.95

TJX

TJX Companies

$0.61

OSTK

Overstock

$0.17

EXC

Exelon

$0.69

ETR

Entergy

$0.67

TRN

Trinity Industries

$0.15

IBP

Installed Building Products

$1.23

EV

Eaton Vance

$0.89

UTHR

United Therapeutics

$2.95

ORA

Ormat Technologies

$0.37

WTRG

Essential Utilities Inc

$0.45

VAC

Marriottacations Worldwide

$0.03

SJI

South Jersey Industries

$0.54

STN

Stantec USA

$0.33

STAA

STAAR Surgical

$0.08

ACAD

Acadia Pharmaceuticals

-$0.47

PDCE

PDC Energy

$0.85

APA

Apache

-$0.10

ANSS

Ansys

$2.54

PSA

Public Storage

$1.93

KW

Kennedy Wilson

$0.07

EPR

EPR Properties

-$0.32

UNVR

Univar Solutions Inc

$0.24

DDD

3D Systems

$0.09

ADPT

Adeptus Health

-$0.29

RVLV

Revolve

$0.11

LB

L Brands

$2.90

GEF

Greif

$0.54

FTI

FMC Technologies

$0.15

ESI

Itt Educational Services

$0.28

MMSI

Merit Medical Systems

$0.43

NOVA

Nova Mentis Life Science Corp

-$0.36

CHDN

Churchill Downs

-$0.39

AGI

Alamos Gold

$0.13

CW

Curtiss-Wright

$2.33

RCII

Rent-A-Center

$1.00

DOOR

Masonite International

$1.14

RDN

Radian

$0.63

FNF

Fidelity National Financial

$1.32

AMED

Amedisys

$1.46

AWK

American Water Works

$0.80

NVDA

Nvidia

$2.80

NTAP

NetApp

$1.01

PTVE

Pactiv Evergreen

$0.25

UFPI

Universal Forest Products

$0.71

TNDM

Tandem Diabetes Care

$0.12

BKNG

Booking Holdings Inc

-$3.85

GBT

BMTC Group

-$0.95

PAC

Grupo Aeroportuario Del Pacifico

$0.67

CIB

Bancolombia

$0.17

PBR

Petroleo Brasileiro Petrobras

$0.15

GGB

Gerdau

$0.07

ASR

Grupo Aeroportuario Del Sureste

$14.83

UGP

Ultrapar Participacoes

$0.05

TS

Tenaris

$0.00

LYG

Lloyds Banking

$0.02

DY

Dycom Industries

$0.05

WB

Weibo

$0.72

SRPT

Sarepta Therapeutics

-$1.99

SSYS

Stratasys

-$0.10

KOF

Coca Cola Femsa Sab De Cv

$0.60

MIDD

Middleby

$1.40

CLGX

CoreLogic

$1.06

 

Thursday (February 25)

IN THE SPOTLIGHT: SALESFORCE.COM

The San Francisco, California-based global cloud computing company is expected to report a profit of $0.75 in the fourth quarter, which represents year-over-year growth of about 14% from $0.66 per share seen in the same quarter a year ago.

The company, which develops CRM solutions and provides business software on a subscription basis, would post revenue growth of 17% to nearly $5.7 billion.

“While Salesforce remains one of our best secularly positioned names given enterprise IT spend prioritized towards digital transformation, we see current valuation reflective of long-term share gains and achieving management’s target for $50 billion revenue in CY25,” said Keith Weiss, equity analyst at Morgan Stanley.

“At CRM‘s current scale and market cap, an increasing focus on FCF and earnings is necessary for further price appreciation, in our view. However, the recent large ($27 billion) and dilutive acquisition of Slack makes margin expansion in the near to medium term less likely. We look for greater clarity and confidence into revenue growth and margin framework at CRM in order to get more constructive.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 25

Ticker

Company

EPS Forecast

AMRN

Amarin

-$0.02

SHEN

Shenandoah Telecommunications

$0.85

NTLA

Intellia Therapeutics Inc

-$0.61

ITCI

Intra Cellular Therapies

-$0.86

SHOO

Steven Madden

$0.21

PLUG

Plug Power

-$0.07

AGIO

Agios Pharmaceuticals

-$1.31

DPZ

Dominos Pizza

$3.88

INSM

Insmed

-$0.67

MRNA

Moderna Inc

-$0.34

PCG

PG&E

$0.21

EME

EMCOR

$1.44

NLSN

Nielsen

$0.46

NRG

NRG Energy

$0.45

BCRX

BioCryst Pharmaceuticals

-$0.24

TREE

LendingTree

-$1.00

AES

AES

$0.43

DCI

Donaldson

$0.51

TD

Toronto-Dominion Bank

$1.16

WWW

Wolverine World Wide

$0.17

AMT

American Tower

$1.25

CCOI

Cogent Communications

$0.21

OGE

OGE Energy

$0.29

SRE

Sempra Energy

$1.58

SJM

J.M. Smucker

$2.17

SAFM

Sanderson Farms

-$0.66

ROCK

Gibraltar Industries

$0.63

CWT

California Water Service

$0.26

W

Wayfair Inc.

$0.82

SEAS

SeaWorld Entertainment

-$0.71

CNP

CenterPoint Energy

$0.19

PZZA

Papa John’s International

$0.48

STWD

Starwood Property

$0.49

EVOP

EVO Payments Inc

$0.21

DOC

Physicians Realty

$0.08

CLNY

Colony Financial

-$0.58

LI

Li Auto

-$0.24

NTES

NetEase

$2.82

PLAN

Progressive Planet

-$0.10

CLF

Cliffs Natural Resources

$0.20

EXLS

ExlService

$1.07

KDP

Keurig Dr Pepper

$0.40

PWR

Quanta Services

$1.00

FSS

Federal Signal

$0.41

FCN

FTI Consulting

$1.17

GIL

Gildan Activewear USA

$0.21

CWH

Camping World Holdings

$0.18

PCRX

Pacira

$0.81

NCLH

Norwegian Cruise Line

-$2.17

TFX

Teleflex

$3.05

FLIR

FLIR Systems

$0.62

VIPS

Vipshop

$3.13

IOVA

Iovance Biotherapeutics

-$0.44

IRTC

iRhythm Tech

-$0.29

MNST

Monster Beverage

$0.55

REGI

Renewable Energy

$0.68

XLRN

Acceleron Pharma

-$0.59

AAON

AAON

$0.29

DRNA

Dicerna Pharmaceuticals

-$0.08

PVG

Pretium Resources

$0.25

LPSN

LivePerson

$0.01

SWI

Solarwinds

$0.25

EIX

Edison International

$1.20

VGR

Vector

$0.18

BMRN

BioMarin Pharmaceutical

-$0.17

EOG

EOG Resources

$0.37

RKT

Rocket Cos. Inc.

$0.88

VICR

Vicor

$0.19

SFM

Sprouts Farmers Market

$0.39

ETSY

ETSY Inc

$0.57

PTCT

PTC Therapeutics

-$0.92

SEM

Select Medical

$0.36

EGO

Eldorado Gold USA

$0.33

SWN

Southwestern Energy

$0.14

ACHC

Acadia Healthcare

$0.68

UHS

Universal Health Services

$2.79

MTZ

MasTec

$1.67

ERIE

Erie Indemnity

$1.09

BVN

Compania De Minas Buenaventura

$0.22

FTCH

Farfetch

-$0.13

WDAY

Workday

$0.55

VMW

VMware

$2.05

HPQ

HP

$0.66

CRM

Salesforce.com

$0.75

MED

Medifast

$2.38

OUT

Outfront Media

-$0.04

PRAH

PRA Health Sciences Inc

$1.47

LHCG

LHC

$1.39

RLJ

RLJ Lodging

-$0.64

STOR

STORE Capital Corp

$0.21

ICUI

ICU Medical

$1.51

CUBE

CubeSmart

$0.20

ENDP

Endo International Ordinary Shares

$0.46

LYV

Live Nation Entertainment

-$2.25

ALTR

ALTAIR ENGINEERING

$0.00

AMH

American Homes 4 Rent

$0.06

CABO

Cable One Inc

$11.60

ADT

ADT

$0.30

RUN

Sunrun Inc

$0.07

CZR

Caesars Entertainment

-$1.94

HHC

Howard Hughes

-$0.70

PK

Park Hotels & Resorts Inc

-$0.90

FOXF

Fox Factory

$0.78

ADSK

Autodesk

$1.07

CWK

Cushman & Wakefield plc

$0.35

FSLR

First Solar

$1.25

NUVA

NuVasive

$0.56

ENV

Envestnet

$0.65

INT

World Fuel Services

$0.23

FIX

Comfort Systems USA

$0.84

NKTR

Nektar Therapeutics

-$0.67

BIG

Big Lots

$2.50

AY

Atlantica Yield

$0.16

PDCO

Patterson Companies

$0.51

KWR

Quaker Chemical

$1.52

AEBZY

Anadolu Efes ADR

$0.01

SWX

Southwest Gas

$1.57

AEP

American Electric Power

$0.78

ARRY

Array Technologies Inc

$0.05

ALXO

Alx Oncology Holdings Inc.

-$0.36

ACIW

ACI Worldwide

$0.49

VIST

Vista Oil Gas

-$0.08

BUD

Anheuser-Busch

$0.89

BAYRY

Bayer AG PK

$0.38

CM

Canadian Imperial Bank Of Commerce USA

$2.19

SRCL

Stericycle

$0.63

BBY

Best Buy

$3.45

ABEV

Ambev

$0.05

NNI

Nelnet

$5.78

AGO

Assured Guaranty

$0.57

BRFS

BRF

$0.08

TEF

Telefonica

$0.23

VALE

Vale

$0.91

NGLOY

Anglo American ADR

$0.62

 

Friday (February 26)

Ticker

Company

EPS Forecast

CNK

Cinemark

-$1.46

IEP

Icahn Enterprises

-$0.47

EVRG

Evergy Inc

$0.22

LSXMK

Liberty Media SiriusXM C

$0.15

PNM

PNM Resources

$0.15

AMCX

AMC Networks

$0.49

VST

Victory Square Tech

$0.64

BLDR

Builders Firstsource

$0.90

FL

Foot Locker

$1.29

FLR

Fluor New

$0.22

RHP

Ryman Hospitality Properties

-$1.90

STRA

Strayer Education

$1.48

LAMR

Lamar Advertising

$0.78

MGLN

Magellan Health

-$0.30

GRFS

Grifolsbarcelona

$0.22

PEG

Public Service

$0.65

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

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