Earnings Reports for the Week of June 24-28 (FDX, KBH, MU)

Below is a weekly earnings calendar of the most important upcoming quarterly reports schedule to be released by publicly traded companies. There are also earnings previews for select companies. Please check back often. This earnings calendar is updated weekly.

Earnings Calendar Highlights

MONDAY

Noteworthy Earnings Reports: N/A

TUESDAY

Earnings Spotlight: Micron (MU, $34.15) — Micron shares are having a subpar year, up just 8% as the broader market rockets to all-time highs. But it’s at least some semblance of stabilization — over the past 12 months of trading, shares are off 42%. The company faces a “challenging market environment” — the exact words of CEO Sanjay Mehrotra three months ago when Micron reported better-then-expected fiscal second-quarter profits. While the analyst community mostly leans toward the “Buy” side on MU, a couple aren’t enthusiastic heading into earnings. JPMorgan’s Harlan Sur, who has an “Overweight” rating (equivalent of “Buy”), lowered his price target significantly on June 21 from $64 to $50 amid a slew of problems including lower-than-expected DRAM pricing and America’s ban on Chinese tech firm Huawei, a Micron customer. Baird analyst Tristan Gerra, who rates it a “Sell,” lowered his price target too, from $32 to $28, on many of the same concerns. The chipmaker has a limbo-low pole to climb over, then, when it reports its financial results after the June 25 close. Analysts expect revenues to sink 38.9% to $4.77 billion, causing profits to dive 73.6% to 83 cents per share.

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Earnings Spotlight: FedEx (FDX, $168.50) — FedEx, like Micron, is stabilizing following a rough stretch for shares. While FDX has lost a third of its value in the past year, shares have at least managed to crawl ahead by 4% in 2019. Last year, the U.S.-China trade war wreaked havoc on FedEx, which has substantial operations in China — European economic issues haven’t helped, either, nor have continued difficulties from its 2016 acquisition of TNT Express. All that said, and despite a lousy set of expectations for the quarter FedEx will report after Tuesday’s bell, a few analysts are optimistic. Bernstein’s David Vernon, for instance, raised his price target from $196 to $205 on June 20 and reiterated his “Outperform” rating on shares saying that a bad-case scenario is already priced into FDX. Analysts broadly expect FedEx to report a 3.3% uptick in sales to $17.88 billion; profits, however, are modeled to dip 16.6% to $4.93 per share.

Other Noteworthy Reports: FactSet (FDS), Lennar (LEN)

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WEDNESDAY

Earnings Spotlight: KB Home (KBH, $25.51) — Homebuilder stocks have crushed the broader market in 2019 in part because they’re recovering from losses in 2018, and in part because lower borrowing costs have sparked a run of homebuying. KBH is no exception, up almost 34% year-to-date. Has KB Home become to frothy? Raymond James’ Buck Horne believes so, recently downgrading the stock to “Underperform” (equivalent of “Sell”) on its “rich” valuation. But RBC Capital Markets’ Mike Dahl sees “early signs of recovery in its key Western markets,” prompting him to upgrade KBH to “Outperform” and raise his price target from $25 to $30. KB Home, which will report its quarterly earnings after the June 26 closing bell, is expected to announce revenues of $936.35 million (-15% year-over-year) and profits of 40 cents per share (-29.8% YoY).

Other Noteworthy Reports: BlackBerry (BB), General Mills (GIS), Paychex (PAYX)

THURSDAY

Noteworthy Earnings Reports: Accenture (ACN), Conagra (CAG), Jefferies (JEF), McCormick (MKC), Nike (NKE), Walgreens Boots Alliance (WBA)

FRIDAY

Noteworthy Earnings Reports: Constellation Brands (STZ)

Reporting schedules provided by MarketWatch and company websites. Earnings estimate data provided by Thomson Reuters via Yahoo! Finance, and FactSet via MarketWatch.

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