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Kiplinger's Weekly Earnings Calendar (9/28-10/2): BBBY, PEP

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

   

MONDAY

Noteworthy Earnings Reports

CompanySymbol

Earnings estimate

Cal-Maine FoodsCALM-$0.48 per share
SinaSINA$0.39
Thor IndustriesTHO$1.34
United Natural FoodsUNFI$0.72
WeiboWB$0.49

   

TUESDAY

Noteworthy Earnings Reports

CompanySymbol

Earnings estimate

IHS MarkitINFO$0.69 per share
McCormickMKC$1.52
Micron TechnologyMU$0.99

   

WEDNESDAY

Noteworthy Earnings Reports

CompanySymbol

Earnings estimate

NovaGold ResourcesNG-$0.02 per share

   

THURSDAY

Earnings Spotlight: Bed Bath & Beyond

Bed Bath & Beyond (BBBY, $13.93) entered 2020 on the upswing as investors started to believe the home-goods retailer was turning its business around, but the COVID outbreak slammed shares, which are now down nearly 20% year-to-date.

That said, the shares have rebounded aggressively off the March bottom, and BBBY has gained more than 54% over the past three months alone – that includes recovering from a big dip in July after missing both revenue and profit estimates for the fiscal first quarter.

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Analysts remain generally cautious on the stock, but they do see potential in a few areas.

"Bed Bath's 2Q overlapped with a period of notable strength in Home Furnishings retail," writes UBS's Micahel Lasser (Neutral, equivalent of Hold). "The category gained significant wallet share. In this environment, we believe BBBY managed to eke out a flattish comp, reversing the declines it witnessed over the past several quarters."

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"Bed Bath is successfully recruiting managers and merchants to lead the turnaround. The fact that BBBY is attracting talent is an endorsement for CEO Tritton's vision," writes Argus Research's Christopher Graja (Hold), but adds, "The COVID-19 epidemic will make his job much more difficult. Even before COVID-19, and the lockdown period that caused stores to close, store traffic had been very disappointing.

"We view traffic or transactions as a key indicator of a retailer's relevance to its customers. Even in a normal market environment, the weak traffic would be a major concern that might dissuade us from considering a contrarian upgrade."

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BBBY is expected to report earnings ahead of the Oct. 1 opening bell, which is a deviation from its normal afternoon reports. Analysts are looking for a 4.7% year-over-year decline in revenues to $2.59 billion, as well as a 24-cent-per-share loss – down from a 34-cent profit in the year-ago quarter.

Earnings Spotlight: PepsiCo

PepsiCo (PEP, $131.58) has been a lackluster consumer staples stock in 2020 – it dipped in line with the market earlier this year, and while it recovered quickly, shares are largely flat since April. That's despite reporting better-than-expected profits and a smaller-than-expected revenue decline in its last earnings report.

However, what might matter most this time around isn't its quarterly results, but forecasts, given its lack of guidance back in July.

"Overall, we expect PEP to deliver in-line or better 3Q20 results relative to Street expectations next week … though the stock's reaction will most likely reflect changes in the company's forward-looking commentary for 4Q and FY21 recovery dynamics," writes Deutsche Bank's Steve Powers (Hold).

"In terms of profitability, pockets of elevated demand, less adverse (foreign exchange) pressures (vs. earlier in the year), and thoughtful cost management efforts should help to mitigate negative mix considerations (especially in Beverages), higher operating costs stemming from COVID-19, and incremental brand and capability investments," he adds.

A few analysts are a little more bullish. Guggenheim's Laurent Grandet (Buy), for instance, raised his price target from $148 per share to $151, saying its blend of large snacks and at-home food exposure has reduced COVID's impact on PepsiCo compared to its peers.

For the quarter to be reported ahead of the Oct. 1 open, analysts are looking for a slight 0.1% improvement in revenues to $17.21 billion, but a 5.1% dip in profits to $1.48 per share.

Other Noteworthy Reports

CompanySymbol

Earnings estimate

Conagra BrandsCAG$0.57
Constellation BrandsSTZ$2.50

   

FRIDAY

Noteworthy Earnings Reports

No noteworthy reports.

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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