Kiplinger's Weekly Earnings Calendar (7/13-7/17): JNJ, JPM, NFLX

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

TUESDAY

Earnings Spotlight: JPMorgan Chase (JPM)

Financial stocks, which were put through the ringer like the rest of the market in the bear-market lull, didn't follow the herd back higher in Q2. While the S&P 500 sits just a couple of percentage points away from breakeven for 2020, JPMorgan Chase (JPM, $91.28) shares are off nearly 35% year-to-date.

The American mega-bank looks primed to justify that negativity in its second-quarter earnings report, due out before the July 14 open. Analysts are expecting a small 2.5% bump in revenues to $30.29 billion, but a 58% decline in profits to $1.19 per share.

Credit Suisse analysts, who have an Outperform rating (equivalent of Buy) and $122 price target on shares, say what matters most is "management's take on the macro path including GDP and unemployment and what that means for both customer activity and credit quality migration," as well as its loan-loss reserve adequacy and capital-markets health, among other things.

"We don't expect 2H to match 1H-20; we do expect positive commentary around the level of strategic dialogue and new issue pipelines," they write. "The depth of trading markets and asset management flows should be supportive to the second half."

Credit Suisse, for its part, expects a higher $32 billion in revenue, but believes less will flow down to the bottom line, targeting 85 cents per share in profits.

Other Noteworthy Reports

WEDNESDAY

Noteworthy Earnings Reports

THURSDAY

Earnings Spotlight: Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ, $142.49), a Dividend Aristocrat, is sitting roughly even with the S&P 500 across the year at 2% losses, though it has gotten there in less volatile fashion. The health and personal care company's products are still in demand, but earnings estimates illustrate a still-difficult second quarter.

When J&J reports, before the July 16 opening bell, analysts will be expecting the company to deliver a 14.9% decline in revenues to $17.5 billion. That should result in a 42.6% plunge in profits to $1.48 per share.

UBS analyst Kevin Caliendo downgraded JNJ shares to Neutral (equivalent of Hold) back in April, contending that "history suggests an unappreciated risk to pharma growth."

"Near-term pressures on the Medical Device segment are well known, but data suggest there is risk to Pharma from a slowing economy, similar to what happened in 2008/9 when the "Anti-TNF/Immunology" market slowed by ~50% (~27% to ~15%)," he writes.

"We believe JNJ can be a relative outperformer if the pandemic extends meaningfully into 2021 despite risk to consensus EPS, or if it does a value creating acquisition. We believe JNJ will underperform if the economy improves to the benefit of other more cyclical companies."

Earnings Spotlight: Netflix (NFLX)

When Netflix (NFLX, $507.76) releases its second-quarter earnings after the July 16 close, it will be out to justify a 57% year-to-date gain that has come amid a massive influx of streaming-content viewership.

Clearly, you can chalk that up to stay-at-home trends.

Yes, this is a trend that has benefitted most streaming options, such as Amazon.com's (AMZN) Amazon Prime and Disney's (DIS) Disney+. But according to Credit Suisse analysts (Outperform, $465 price target), Netflix is still the leader in the clubhouse.

"Our analysis of Nielsen U.S. TV screen viewing data shows that Netflix has extended its lead this year against nearly all major streaming platforms, including YouTube (though YouTube still dominates mobile viewing)," they write. "For example, pre-COVID Netflix had roughly 2.4x the TV screen viewing as Amazon, and post-COVID now has 3x the viewing.

"We expect NFLX will retain a significant 'fresh' entertainment content advantage as film & TV production stoppages have disproportionately hampered the competition (NFLX 2020 slate intact), though sports potentially ramping back up in August will increase competition for viewing time."

Canaccord Genuity analysts (Buy, $550) agree. "Analysis of our proprietary Netflix content power rankings highlights continued momentum in original content," they write. "As subscribers around the world spent more time at home during Q2 due to the pandemic, and amid continued competitive intensity, the importance of Netflix’s content slate has arguably gone up"

On the whole, analysts are expecting Netflix to report second-quarter revenues of $6.08 billion, and a more-than-tripling of profits to $1.81 per share. 

Other Noteworthy Reports

FRIDAY

Noteworthy Earnings Reports

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