AMZN - Earnings week ahead: Coca-Cola Microsoft Ford Exxon and more

Megacaps Amazon ( NASDAQ: AMZN ), Alphabet ( NASDAQ: GOOG )( GOOGL ) and Microsoft ( NASDAQ: MSFT ) highlight an exceptionally busy week of earnings releases. The five-day span will also see a slate of consumer staples, tech giants, major automakers and oil supermajors announcing their results.

The list of companies also includes names like Ford ( F ), McDonalds ( MCD ), General Electric ( NYSE: GE ), Coca-Cola ( KO ), Pfizer ( PFE ), Intel ( INTC ), Exxon Mobil ( XOM ) and Chevron ( CVX ).

Below is a curated list of earnings reports in the week of July 25 to 29:

Monday, July 25

NXP Semiconductor ( NXPI )

Dutch semiconductor company NXP Semiconductor ( NXPI ) will offer a second quarter update after the market close on Monday. Shares have rallied alongside a comeback for the semiconductor sector ahead of the release, rising over 12% in the week leading up to earnings.

In the days leading up to the report, Citi voiced its belief that both NXP ( NXPI ) and ON Semiconductor ( ON ) are likely to report "good earnings" and prompt a "short-term bounce" for the semiconductor sector. Bloomberg options data suggests the stock will move 5.6% after its report.

• Consensus EPS Estimates: $3.38

• Consensus Revenue Estimates: $3.27B

• Earnings Insight: NXP has beaten on both top and bottom lines for the past 8 consecutive quarters.

Newmont ( NEM )

The world’s largest gold miner is set to report its second quarter results prior to Monday’s market open. The Colorado-based company has slid sharply in the weeks ahead of its earnings release, dropping over 20% since the start of June. The slide has coincided with an overall drop in gold prices, which have fallen to under $1700, their lowest level in over a year , just days prior the report.

• EPS Estimates: $0.66

• Consensus Revenue Estimates: $3.06B

• Earnings Insight: Newmont has beaten revenue estimates in 7 of the past 8 quarters, but has missed EPS expectations thrice over that period.

Tuesday, July 26

Coca Cola ( KO )

The 130-year old beverage giant will provide investors with a second quarter update in Tuesday’s premarket session. The consumer staples standby has significantly outperformed the market in 2022, pushing to a nearly 3% gain year-to-date against an over 17% drop for the S&P 500.

The company’s key competitor, PepsiCo ( PEP ), posted a strong earnings result that promoted a modest pop in the stock on its earnings day earlier this month. However, Pepsi CEO Ramon Laguarta largely credited the FritoLay snacks business for the earnings beat, a business segment that is differentiated from Coca Cola’s beverage-focused offerings.

Just ahead of the report, the Atlanta-based corporation sold its bottling operations in Southeast Asia for over $1B .

• Consensus EPS Estimates: $0.67

• Consensus Revenue Estimates: $10.55B

• Earnings Insight:

General Electric ( GE )

The Larry Culp-led industrial giant is set to update investors on its second quarter results in Tuesday’s premarket session. Shares have declined about 30% year to date, continuing a volatile trading pattern observable since Culp’s accession to the CEO role in October 2018. Despite a series of efforts to streamline the business, GE shares have declined markedly since Culp’s succession of John Flannery.

GE is in the process of breaking into three separate companies. About a week prior to its second quarter earnings release, the company added details about this ambitious restructuring effort, unveiling brand names for its three new business units in aviation, healthcare and energy.

Also in the week prior to the earnings call, Morgan Stanley analyst Joshua Pokrzywinsky indicated he does not expect a turnaround to be sparked by the second quarter earnings release. Instead, he advised clients to "avoid shares in front of Q2 earnings as H2 expectations need to come down." Similarly, JP Morgan analyst Stephen Tusa told clients it was “ too early to step in ” on the stock ahead of its earnings release.

• Consensus EPS Estimates: $0.42

• Consensus Revenue Estimates: $17.90B

• Earnings Insight: GE has beaten EPS expectations in 5 of the past 8 quarters, marking the same success rate in terms of revenue estimates.

Alphabet ( GOOGL )

Google and YouTube parent Alphabet ( GOOGL ) will post earnings results for the second quarter after Tuesday’s market close. The Mountain View, California-based tech giant has underperformed the S&P thus far in 2022, while only slightly bettering losses marked by the tech-heavy Nasdaq.

Just prior to the earnings release, the conglomerate announced that YouTube TV had topped 5M subscribers, surpassing Hulu to take the top spot for streaming TV services in the US .

Despite that positive trend, the company announced it is cutting back on hiring in the second half of 2022. According to The Information, a two week hiring pause went into effect on July 18 . Headed into the report, analyst firm Bluesea Research argued that the search giant's core business could deliver a bullish surprise on earnings .

• Consensus EPS Estimates: $1.30

• Consensus Revenue Estimates: $70.10B

• Earnings Insight: Alphabet’s quarterly reports have exceeded revenue estimates for 8 straight quarters, missing EPS consensus estimates only once in that span.

McDonald’s ( MCD )

The second largest restaurant chain by total locations will report its second quarter earnings before the market open on Tuesday. While shares of the chain have fallen over 5% since the start of 2022, that modest loss shows the stock holding up well compared to broader market declines.

In another positive, Placer.ai data on store traffic, McDonald’s had a solid Q2, with visits growing 16.7% from 2021 and trending above even pre-pandemic levels. That trend was noted by Placer as above sector averages as well, with quick service restaurants seeing about a 5.9% gain from 2021 traffic in average.

However, the company also courted issues in Russia during the second quarter. In June, the company completed a transfer of control over operations to Russian licensee Alexander Govor.

• Consensus EPS Estimates: $2.47

• Consensus Revenue Estimates: $5.84B

• Earnings Insight: McDonald’s has missed revenue consensus only twice in the past two years, while missing EPS estimates three times.

Microsoft ( MSFT )

The Redmond, Washington-based software behemoth, the third most valuable company in the world by market cap, will provide a second quarter earnings update on Wednesday after the close. The company’s Azure cloud business should be a focal point of the earnings report, according to Wedbush analyst Dan Ives . He advised clients that his channel checks suggest Azure is growing 46% year-over-year on a constant currency basis and roughly 43% year-over-year, when factoring in foreign exchange headwinds.

Meanwhile, like GOOG, Microsoft has also revised its hiring schedule, per Bloomberg. The outlet indicated that the tech giant has cut a number of open job listings in anticipation of an economic slowdown.

Analyst firm Cavenagh Research points to three key metrics to watch in MSFT's quarterly report: its cloud segment, its level of shareholder returns and its guidance for the second half of the year.

Bloomberg options data implies about a 5% move for the stock on earnings day. According to S3 Partners, Microsoft is the most popular individual holding among hedge funds based in the US.

• Consensus EPS Estimates: $2.29

• Consensus Revenue Estimates: $52.38B

• Earnings Insight: Microsoft has exceeded both EPS and revenue expectations without fail for the past two years.

Raytheon ( RTX )

Rounding out a busy Tuesday of earnings reports, Raytheon ( RTX ) will report its second quarter results prior to the market open. The stock has significantly outperformed broader indices in 2022, gaining about 9% since the start of the year. Geopolitical tensions in Ukraine and anxiety in the South China sea has increased demand for its products, with the Department of Defense inking a $4.38B deal with the Massachusetts-based contractor to modify its jet fighters at the close of the second quarter.

Shortly before the earnings report, the company successfully tested a scramjet-powered Hypersonic Air-breathing Weapon Concept (HWAC) alongside Northrop Grumman ( NOC ).

• Consensus EPS Estimates: $1.11

• Consensus Revenue Estimates: $16.61B

• Earnings Insight: Raytheon has beaten bottom line expectations for 8 straight quarters, missing revenue expectations three times in the period.

Also: Chipotle Mexican Grill ( CMG ), 3M ( MMM ), Kimberly Clark Corporation ( KMB ), Mondelez ( MDLZ ), and Visa ( V )

Wednesday, July 27

Ford ( F )

The nearly century-old automaker is set to report its second quarter earnings result after the market close on Wednesday. Ford shares have fallen sharply from their 52-week high in January.

Since that point, the stock has been nearly halved. In the weeks prior to the earnings release, performance data in the US reflected a 31% jump in June sales. However, sales in China fell about 22% in the second quarter to mark the worst sales report in the region since 2020 .

In another recent development, Bloomberg reported that Ford ( F ) plans to lay off 8K workers to fund expanded EV efforts. The company has not confirmed these reports as of July 22.

• Consensus EPS Estimates: $0.45

• Consensus Revenue Estimates: $35.15B

• Earnings Insight: Ford has missed EPS expectations only once in the past two years, coming up short of revenue estimates twice in that span.

Kraft Heinz ( KHC )

The packaged food giant, maker of products like its namesake ketchup, Oscar Mayer, Philadelphia Cream Cheese and Grey Poupon, will update investors on its second quarter results on Wednesday before the market open. Shares of the Chicago-based firm have risen over 5% year to date, trending well above the broader market.

According to Bloomberg data, the move on earnings day could mirror the year-to-date action. Options data aggregated by the outlet suggests a 4.3% move for the stock after the print.

• Consensus EPS Estimates: $0.68

• Consensus Revenue Estimates: $6.36B

• Earnings Insight: Kraft Heinz has beaten on both top and bottom line estimates at a 100% rate for the past two years.

T-Mobile ( TMUS )

Following negative price action after earnings results from AT&T ( T ) and Verizon ( V ) in the week prior, T-Mobile ( TMUS ) will update investors on its second quarter results. The stock was selected as a “favorite” at Citi shortly before the earnings report.

The bank anticipates the carrier will "grow revenue, meaningfully expand its EBITDA margin, and repurchase a meaningful percentage of its shares over the next few years” to reward patient shareholders. The stock has significantly outperformed the market in 2022, running to an over 16% gain in contrast to sizable declines for most major indices.

• Consensus EPS Estimates: $0.40

• Consensus Revenue Estimates: $20.09B

• Earnings Insight: T-Mobile has exceeded EPS estimates for 8 straight quarters, but has only met revenue expectations in 50% of those reports.

Also: Etsy ( ETSY ), Qualcomm ( QCOM ), General Dynamics ( GD ), O’Reilly Automotive ( ORLY ), and Rockwell Automation ( ROK )

Thursday, July 28

Altria ( MO )

Tobacco giant Altria ( MO ) will post its earnings results prior to Thursday’s open. The Virginia-based conglomerate is the producer of such products as Marlboro cigarettes and Skoal smokeless tobacco in the US, while it holds strategic investments in AB Inbev ( BUD ), Cronos ( CRON ), and Juul Labs. The latter came under regulatory scrutiny in the second quarter, with the FDA effectively banning it from US retail shelves.

The issue is currently being fought out in the courts, with Juul recently winning a right to appeal . Despite the noise, shares have declined “only” about 10% year to date, bettering broader market action.

• Consensus EPS Estimates: $1.25

• Consensus Revenue Estimates: $5.42B

• Earnings Insight: Altria has beaten EPS consensus estimates in 6 of the past 8 quarters, while exceeding revenue expectations in 4 of those reports.

Amazon ( AMZN )

Amazon ( AMZN ), the fifth most valuable company in the world by market cap, will provide its earnings update on Thursday after the market close. Shares of the ecommerce and cloud giant have rallied over 15% higher in the past month, building back from a deep drop sparked by a disappointing earnings result posted in late April. That initial slide was also abetted by a sales forecast that missed Refinitiv estimates .

Ahead of the report, Chuck Walston argued that investments in logistics and AWS could undercut growth in the short term but will boost profitability over the long haul .

• Consensus EPS Estimates: $0.14

• Consensus Revenue Estimates: $119.19B

• Earnings Insight: Amazon has beaten on the bottom line in 75% of quarterly reports over the past two years, while marking a 50% success rate in meeting top line consensus.

Pfizer ( PFE )

Pfizer will post its second quarter earnings results prior to the market open on Thursday, updating investors on its progress of its overall business and its vaccine efforts specifically. Of note, tests performed at the close of the second quarter showed that the company’s updated vaccine formula outperformed its peers in guarding against the BA.1 variant. The earnings report will follow only one week after President Biden contracted the coronavirus.

• Consensus EPS Estimates: $1.79

• Consensus Revenue Estimates: $26.08B

• Earnings Insight: Pfizer has beaten revenue expectations set by the Street in 6 of the past 8 quarters, missing EPS estimates only once in that span.

Intel ( INTC )

Intel ( INTC ) will post its second quarter results on Thursday after the market close. Shares of the California-based chipmaker have declined over 20% since the start of 2022, remaining a laggard among semiconductor stocks despite a nearly 10% gain in the month ahead of the earnings report.

Just a week prior to the results, Citi analyst Christopher Daneley advised clients that the chipmaker is likely to miss consensus estimates . The earnings report also comes amid considerations of the CHIPS Act in the US Senate .

• Consensus EPS Estimates: $0.52

• Consensus Revenue Estimates: $17.92B

• Earnings Insight: Intel has beaten EPS expectations set by the Street in 6 of the past 8 quarters, missing revenue estimates only once in that span.

Also reporting: Roku ( ROKU ), Harley Davidson ( HOG ), Roku ( ROKU ), Honeywell ( HON ), Thermo Fisher Scientific ( TMO ), US Steel ( X ), and Keurig Dr. Pepper ( KDP )

Friday, July 29

Exxon Mobil ( XOM )

The busy earnings week closes with multiple energy companies, with Exxon ( XOM ) being the largest to post earnings. Shares of the oil supermajor have slipped notably in the past month as oil prices fell from a June peak near $125 per barrel back into the double digits. Nonetheless, the stock has soared nearly 40% year to date, far surpassing the broader market trend.

Despite the recent pullback in oil prices, Goldman Sachs energy analyst Damien Courvalin told clients that oil prices could jump above $140 before year-end in assessments of both Exxon Mobil ( XOM ) and Chevron ( CVX ).

• Consensus EPS Estimates: $3.89

• Consensus Revenue Estimates: $111.67B

• Earnings Insight: Exxon has exceeded EPS expectations in 6 of the past 8 quarters, beating revenue expectations in 5 of those events.

Procter & Gamble ( PG )

Procter & Gamble ( PG ) headlines results from number of consumer staples companies, including Colgate Palmolive ( CL ) and Church & Dwight ( CHD ). Inflation was cited as a threat to earnings results by Credit Suisse analyst Kaumil Gajrawala. Shares of the consumer staples stock touched a 52-week low just a month prior to the results, building back only about 6% since that point.

• Consensus EPS Estimates: $1.24

• Consensus Revenue Estimates: $19.42B

• Earnings Insight: Procter & Gamble has pushed past the bar set by Wall Street for EPS and revenue in 8 straight quarters.

Also reporting: Abbvie ( ABBV ), Chevron Corporation ( CVX ), Sony ( SONY ), Colgate Palmolive ( CL ), and Church & Dwight ( CHD )

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