Kiplinger's Weekly Earnings Calendar (7/6-7/10): BBBY, WBA
Check out our earnings calendar for the upcoming week, as well as our previews of the more noteworthy reports.
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.
(Editor's Note: Many earnings dates are tentative but may be moved due to coronavirus-related concerns. However, companies featured in "Earnings Spotlights" have officially announced their earnings dates.)
Earnings Calendar Highlights
Noteworthy Earnings Reports: N/A
Earnings Spotlight: Bed Bath & Beyond (BBBY, $10.64) – The good news? Bed Bath & Beyond shares have nearly tripled over the past three months. The bad news for longer-term shareholders? BBBY stock still is off 39% year-to-date, and the company is staring into the abyss of what’s expected to be a miserable report due out after the July 8 closing bell. Wall Street believes Bed Bath’s sales plunged 47.6% year-over-year in the most recent quarter, to $1.53 billion, and that should be enough to knock last year’s 12-cent-per-share profit into a $1.21-per-share loss. But as far as where BBBY goes next, the pros are all over the place. BofA Merrill Lynch’s Curtis Nagle (Buy), for instance, recently hiked his price target up to $14.50 per share, writing, “While there are several significant earnings opportunities for the core Bed & Bath Beyond business under strong management, we believe one of the most underappreciated assets of BBBY is its buybuy Baby banner.” Wells Fargo’s Zachary Fadem (Sell), however, targets just $6 per share, calling its “turnaround efforts increasingly constrained and negative fiscal 2021 earnings per share increasingly likely.” On the whole, however, a $7.05 average price target among analyst opinions from the past three months points to broad negativity on this retail name.
Earnings Spotlight: Walgreens Boots Alliance (WBA, $40.88) – Walgreens has been so surprisingly weak this year that it might have stunned analysts into ratings paralysis. The pharmaceutical chain, which was one of the only games in town during coronavirus-related shutdowns thanks to its “essential” nature, is off more than 30% this year. Interestingly, nine analysts have written about WBA over the past three months, and each and every one has a Hold-equivalent rating; its last call in any direction was a Sell by BofA Merrill Lynch near the start of the year. Part of the reason for their wait-and-see approach is that Walgreens is in the midst of a transformation plan that’s still not quite understood – Morgan Stanley analyst Ricky Goldwasser expressed just that in a recent note maintaining an “Equal Weight” rating. That said, she did raise her price target on shares from $45 to $49. For the quarter to be reported ahead of the July 9 open, analysts are looking for a mild 0.9% decline in revenues to $34.29 billion, but a more substantial 19% drop in profits to $1.19 per share.
Noteworthy Earnings Reports: Shaw Communications (SJR)