Earnings Calendar

Stock Watch

Earnings Reports for the Week of Sept. 23-27 (KBH, NIO, NKE)

Check out our weekly earnings calendar and read the latest quarterly earnings previews.

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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: Nike (NKE, $87.70) – Nike’s stock has mostly tracked the market so far in 2019, up 18% to sit just short of the S&P 500’s 20% return – a performance that has come amid a pair of lackluster earnings reports already this year. Back in March, Nike’s profits “beat the Street,” but revenues were merely in line with expectations and North American sales actually came in under estimates. The athletic apparel company flipped the script in June, reporting better-than-expected revenues but posting a big profit miss. As for its results for the quarter ended Aug. 31, to be reported after the Sept. 24 close? “We expect another solid quarter, in line with the company’s guidance,” says Pivotal Research’s Mitch Kummetz, who has a Buy rating on shares. “The main lens with which we evaluate NKE is market share. In short, we believe NKE is taking share and expect this to continue, and this is the main reason for our bullishness.” Stifel’s Jim Duffy reiterated his Buy call recently, too, believing Nike’s product offerings and digital growth will help the company meet estimates. Consensus expectations for the quarter are modest, with revenues pegged at $10.44 billion (+4.9% year-over-year) and profits at 70 cents per share (+4.5%).

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Earnings Spotlight: Chewy (CHWY, $29.48) – Shares of online pet-products retailer Chewy are indeed well above the $22 per share that its initial public offering priced at on June 13. But the stock has retreated by more than 15% ever since a big pop on its first day of trading, in large part because the company’s projections are calling for a quicker deceleration in revenue growth than some have expected. For instance, Wedbush’s Seth Basham called 2019 sales guidance of 32%-34% growth “solid” but wrote that it also implies a slowdown. For the most recent quarter, analysts are looking for $1.1 billion in revenues but an 11-cent-per-share net loss. Chewy will report those results after the Sept. 19 close.

Earnings Spotlight: Nio Inc. (NIO, $3.10) – Chinese electric vehicle maker Nio is, without being dramatic, fighting for its very existence. The company went public last September at $6.26 per share, at the low end of its expected range, but quickly jumped to as high as $11.60 in its first couple days of trading. It’s been mostly downhill from there, with shares off 73% since then, including a 51% loss in 2019, amid serious concerns about the company’s cash burn. Nio recently raised $200 million from Chinese tech giant Tencent (TCEHY), but waning sales remain a concern. Co-founder Jack Cheng resigned in August, depriving the company of a valuable leader. BofA/Merrill Lynch analyst Ming-Hsun Lee (Underperform, equivalent of Sell) said in August that the company still faces high and growing competition, and he expects weak orders of the company’s ES8 and ES6 models. Consensus estimates among the few analysts still tracking the stock aren’t encouraging, either. Expected revenues of $185 million would be off considerably from the previous quarter’s $243.1 million, though the net loss would thin from 36 cents per share to 18 cents.

Other Noteworthy Reports: AutoZone (AZO), BlackBerry (BB), CarMax (KMX), Cintas (CTAS), IHS Markit (INFO), Jabil (JBL), Manchester United (MANU)

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WEDNESDAY

Earnings Spotlight: KB Home (KBH, $31.22) – Homebuilders are recovering with gusto in 2019, with the SPDR S&P Homebuilders ETF (XHB), and KB Home is among the most aggressive in the industry with 63% gains year-to-date. While encouraging housing data has helped, KBH is making upgrades to its own operations that analysts are high on. For instance, Argus’ Chris Graja – who has a Hold rating on KBH, but with an “upgrade bias” – notes KB Home is focusing on improving efficiency and building higher-margin housing communities. And the pros are getting more excited about the company’s prospects, with three analysts (Barclays, BofA/Merrill Lynch and JPMorgan) upgrading their price targets over the past two weeks as the company’s next financial release approaches. Analysts aren’t expecting much out of KB Home’s next report, however, which is due following the Sept. 24 bell. Revenues are estimated to come in at $1.17 billion (-4.3% year-over-year) and funnel down into profits of 66 cents per share, a 24.1% drop.

Other Noteworthy Reports: H.B. Fuller (FUL)

THURSDAY

Noteworthy Earnings Reports: Accenture (ACN), Carnival (CCL), ConAgra (CAG), FactSet (FDS), Micron (MU), Vail Resorts (MTN)

FRIDAY

Noteworthy Earnings Reports: N/A

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

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