Monday, July 15, 2024

Earnings week ahead: Disney, Palantir, Plug Power, Roblox, Rivian and more

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Standing Desk Calendar August 2023.

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The second week of August promises to be an eventful one for investors as a slew of major companies is set to report quarterly results. Among the headliners, Disney (NYSE:DIS) is prehaps the most well-known company due to report. The schedule also includes Barrick Gold (NYSE:GOLD), Take-Two Interactive (TTWO), Roblox (NYSE:RBLX), Novavax (NVX), BioNTech (BNTX) and MannKind (MNKD).

The slate will also features results from Palantir (NYSE:PLTR), Lucid Motors (NASDAQ:LCID), Rivian (NASDAQ:RIVN), Paramount Global (PARA), Beyond Meat (BYND) and AMC Entertainment (AMC).

Below is a rundown of the major quarterly updates anticipated in the week of August 7 to August 11:

Monday, August 7

Palantir Technologies (PLTR)

Palantir Technologies (PLTR) is expected to post its Q2 earnings update after the closing bell on Monday. The company’s stock soared more than 20% following upbeat Q1 results and an optimistic outlook. For Q2, the company anticipated revenue between $528M and $532M.

Last week, Wedbush Securities initiated coverage on the stock with an Outperform rating. noting the company has built an “AI fortress” that he believes is “unmatched,” allowing the company to play a key role in the coming artificial intelligence revolution.

Seeking Alpha’s Quant Rating system is upbeat on the stock, giving it a Strong buy rating as opposed to sell-side analysts’ Hold rating.

  • Consensus EPS Estimates: $0.05
  • Consensus Revenue Estimates: $534.34M
  • Earnings Insight: The software maker has beaten EPS expectations in 4 of the past 8 quarters, beating revenue estimates in all those reports.

Lucid Motors (LCID)

Lucid Motors (LCID) is due to post its Q2 earnings results after the bell on Monday. Last month, the company announced Q2 production of 2,173 vehicles out of its manufacturing facility in Arizona and delivered 1,404 vehicles during the same period, missing the consensus estimate of 1,873.

Seeking Alpha’s Quant Rating system downgraded its evaluation of the stock to Sell from Hold, a move marked by decelerating momentum and inferior profitability when compared to other consumer discretionary stocks. Meanwhile, Wall Street analysts view the stock with a consesus Hold rating.

  • Consensus EPS Estimates: -$0.33
  • Consensus Revenue Estimates: $205.01M
  • Earnings Insight: Lucid has driven past EPS and revenue expectations only twice in the past 7 quarters.

Also reporting: Viatris (VTRS), Skyworks (SWKS), Beyond Meat (BYND), Paramount Global (PARA), BioNTech (BNTX), Mannkind (MNKD), Tyson Foods (TSN), KKR (KKR), Chegg (CHGG), Hims & Hers Health (HIMS), Manitowoc (MTW) and more.

Tuesday, August 8

Barrick Gold (GOLD)

The world’s second-largest gold mining company is set to report its Q2 earnings prior to Monday’s market open. Analysts anticipate mixed results for the quarter. Despite a 9% fall so far this year, sell-side analysts and Seeking Alpha’s Quant Rating system are bullish on the stock, giving it a consensus Buy rating.

In mid-July, the company reported preliminary Q2 production of 1.01M oz of gold and 107M lbs of copper, up from Q1 output of 952K oz and 88M lbs. At the same time, the company stated that it is on track to achieve its full-year gold and copper guidance. Additionally, it expects production to increase through the year, with H2 coming in above H1 levels.

  • Consensus EPS Estimates: $0.17
  • Consensus Revenue Estimates: $2.93B
  • Earnings Insight: Barrick has beaten analyst estimates on EPS in 8 straight quarters, rising above revenue expectations in 5 of those reports.

Also reporting: Organon (OGN), Twilio (TWLO), AMC Entertainment (AMC), UPS (UPS), CRISPR Therapeutics (CRSP), Novavax (NVAX), Duke Energy (DUK), Upstart (UPST), Eli Lilly (LLY), Datadog (DDOG), Li Auto (LI), Digital Turbine (APPS), Under Armour (UAA), Rivian Automotive (RIVN), Blink Charging (BLNK), Wynn Resorts (WYNN), Take-Two (TTWO), Lyft (LYFT), Hecla Mining (HL), iRobot (IRBT), Akamai Tech (AKAM), 23andMe (ME), Bumble Inc. (BMBL), Marqeta (MQ), Fox Corporation (FOXA), Dutch Bros (BROS), New York Times (NYT), GlobalFoundries (GFS), LivePerson (LPSN), Sealed Air (SEE), SeaWorld Entertainment (SEAS) and more.

Wednesday, August 9

Disney (DIS)

In one of the most closely watched earnings reports of the week, The Walt Disney Company (DIS) will post its Q3 earnings results after the close on Wednesday.

Seeking Alpha’s Quant Rating system presents a cautious picture of the stock, giving it a Hold rating on valuation concerns. This comes opposed to the more optimistic view of sell-side analysts, who have a consensus Buy rating.

Looking at the competitors, Netflix (NFLX) posted mixed Q2 earnings, Roku (ROKU) exceeded expectations, and Warner Brothers Discovery (WBD) fell short.

“Cost cutting and dissipating negative sentiment provide tailwinds for stock appreciation,” says Seeking Alpha contributor Pink Sands Value Investor.

  • Consensus EPS Estimates: $0.99
  • Consensus Revenue Estimates: $22.54B
  • Earnings Insight: The streaming giant has beaten EPS expectations in 4 of the past 8 quarters, beating revenue estimates in 5 of those reports.

Plug Power (NASDAQ:PLUG)

Plug Power (PLUG) is set to post its Q2 results on Wednesday after the market closes.

As per Seeking Alpha’s Quant Rating system, Plug has characteristics historically associated with poor future stock performance and has inferior profitability and negative EPS revisions when compared to other industrial stocks — conditions that lead to a Sell rating. Sell-side analysts are bullish on the stock, with a consensus Buy recommendation.

“Despite its potential, hydrogen is currently not competitive due to its high cost and lower efficiency. Plug Power’s profitability projections (profitable in 2025) appear overly optimistic, given the company’s increasing expenses relative to its revenues,” says SA author Manuel Paul Dipold.

  • Consensus EPS Estimates: $-0.26
  • Consensus Revenue Estimates: $237.4M
  • Earnings Insight: Plug Power has missed EPS estimates in all the past 8 reports, and revenue forecasts in 5 of those quarters.

Also reporting: The Trade Desk (TTD), 3D Systems (DDD), Roblox (RBLX), Illumina (ILMN), PENN Entertainment (PENN), Clean Energy Fuels (CLNE), Ballard Power (BLDP), Pan Am Silver (PAAS), Manulife Financial (MFC), Royal Gold (RGLD), Coeur Mining (CDE), Wendy’s (WEN), Sonos (SONO), ODP Corporation (ODP), Lions Gate Entertainment (LGF.A), AppLovin (APP) and more.

Thursday, August 10

Alibaba Group (NYSE:BABA)

Alibaba Group (BABA) is all set to release Q1 financial figures before the market opens on Thursday. Analysts expect higher revenue and EPS in Q1 compared to the previous year.

SA contributor Bluesea Research affirms, “The company will face easier comps in the next few quarters, which should allow it to deliver better-than-expected revenue growth.”

Seeking Alpha’s Quant Rating system and Wall Street analysts are quite bullish on the company’s performance, giving it a Strong Buy rating.

  • Consensus EPS Estimates: $2.02
  • Consensus Revenue Estimates: $31.48B
  • Earnings Insight: BABA has beaten EPS estimates in 7 of the past 8 quarters, but revenue expectations only twice in those reports.

Also reporting: Wheaton Precious Metals (WPM), Himax Tech (HIMX), CyberArk (CYBR), Hanesbrands (HBI), Ralph Lauren (RL), Six Flags (SIX), Flowers Foods (FLO), Dillard’s (DDS), News Corp. (NWSA), and more.

Friday, August 11

Spectrum Brands (NYSE:SPB)

Consumer products manufacturer Spectrum Brands (SPB) is scheduled to report its Q3 earnings report in Friday’s premarket trading. Analysts anticipate EPS and revenue to decline from last year.

“Spectrum Brands should be able to recover its margins in the second half of fiscal 2023,” predicts SA contributor GS Analytics.

The stock is rated a Buy by Wall Street analysts, as opposed to a Hold by Seeking Alpha’s Quant Rating system, which has raised concerns about growth and valuation.

  • Consensus EPS Estimates: $0.51
  • Consensus Revenue Estimates: $787.09M
  • Earnings Insight: Spectrum Brands has beaten EPS estimates in 6 of the past 8 quarters, beating revenue expectations in 7 of those reports.

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