Upcoming Earnings Watch: Week of June 24-28, 2024
This week, several key companies are set to report their quarterly earnings. Here's what investors should watch for:
Tuesday, June 25, 2024
FedEx (FDX) - ★★★★
Ranked #54 in our Q2 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $5.36 per share.
Key indicators to watch: • Package volume and pricing trends, especially in the face of economic uncertainties • Progress on the DRIVE program, FedEx's cost-cutting initiative aimed at saving $4 billion annually • E-commerce shipping demand and competition from Amazon's logistics network • Fuel costs and their impact on margins, considering recent global energy market volatility • Performance of FedEx Ground, which has been a focus for improvement.
Wednesday, June 26, 2024
2. Levi's (LEVI) - ★★★
Ranked #70 in our Q2 2024 SMID Equity Rankings
Earnings per share (EPS) estimate: $0.11 per share.
Key indicators to watch: • Direct-to-consumer sales performance, including e-commerce growth • Progress on the company's "Next Chapter" strategy, focusing on brand-led and direct-to-consumer growth • International market growth, especially in emerging markets like India and Brazil • Impact of recent sustainability initiatives on consumer perception and sales • Performance of the women's category, which has been a growth driver.
Thursday, June 27, 2024
3. Walgreens Boots Alliance (WBA) - ★★
Ranked #87 in our Q2 2024 SMID Equity Rankings
Earnings per share (EPS) estimate: $0.71 per share.
Key indicators to watch: • Pharmacy sales and prescription volume, particularly given recent healthcare policy changes • Progress on the company's healthcare services expansion, including VillageMD and CareCentrix • Impact of the company's cost management program, aiming to deliver $3.5 billion in savings • Performance of beauty and personal care product lines, especially the No7 Beauty Company • Updates on the company's digital transformation efforts.
4. Nike (NKE) - ★★★
Ranked #70 in our Q2 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $0.84 per share.
Key indicators to watch: • Direct-to-consumer and digital sales growth, a key part of Nike's Consumer Direct Acceleration strategy • Performance in the Chinese market, which has been challenging due to various factors including competition • Success of recent product launches, particularly in the running and lifestyle categories • Supply chain efficiency and inventory management, following past disruptions • Progress on sustainability goals and their impact on brand perception and sales.
Investors should pay close attention to how these companies perform against expectations and any forward guidance they provide. Market reactions to these earnings reports could have broader implications for their respective sectors and the overall market.
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The information provided in this report is for general informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. The opinions expressed in the report are our own and are subject to change without notice. We may have a position in the securities mentioned in the report, and we may buy or sell such securities without notice. Any investment decisions made based on the information in this report are solely the responsibility of the recipient. We do not accept any liability for any direct, indirect, or consequential loss arising from any use of this report or its contents.
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