IRNT - Earnings week ahead: Nike Micron Technology BlackBerry Walgreens Boots Alliance and more

2023-06-23 15:22:26 ET

As the end of the second quarter draws near, a range of notable companies are set to release their earnings reports next week. Leading the pack is Nike ( NYSE: NKE ), the footwear and sports apparel giant.

Elsewhere, chip makers Micron Technology ( NASDAQ: MU ), and Nano Dimension ( NNDM ) represent earnings highlights as well. In addition, the itinerary includes two household names in the consumer staples sector, General Mills ( GIS ) and McCormick & Co. ( MKC ), which will also be updating investors on their financial figures.

Additionally, the upcoming week will also see earnings reports from National Beverage ( FIZZ ), MSC Industrial Direct ( MSM ), Paychex ( PAYX ), Constellation Brands ( NYSE: STZ ), Rite Aid ( RAD ), Carnival ( NYSE: CCL ) and Walgreens Boots Alliance ( NASDAQ: WBA ).

Below is a rundown of major quarterly updates anticipated in the week of June 26 to 30:

Monday, June 26

Carnival ( CCL )

Carnival ( CCL ) will release its Q2 earnings results before the opening bell on Monday . The cruise operator reported an upbeat Q1 with $8.1 billion in liquidity. Analysts anticipate higher sales and EPS compared to the previous year.

Just one week before the earnings report, the Seeking Alpha Quant recommendations changed from Strong Buy to Hold as compared to the Buy ratings of Wall Street analysts.

• Consensus EPS Estimates: -$0.33
• Consensus Revenue Estimates: $4.77B
• Earnings Insight: The company has beaten EPS estimates in 2 of the past 8 quarters and revenue expectations in just 1 of those reports.

Tuesday, June 27

Walgreens Boots Alliance ( WBA )

Walgreens Boots Alliance ( WBA ) is due to report its Q3 results after the closing bell on Tuesday. The company outperformed expectations in Q2 and maintained its adjusted EPS outlook for the year at $4.45 to $4.65.

Analysts anticipate higher sales and EPS compared to previous year. Both Wall Street analysts and Seeking Alpha Quant Ratings have a consensus Hold rating on the stock, which has dropped about 15% so far this year.

• Consensus EPS Estimates: $1.07
• Consensus Revenue Estimates: $34.12B
• Earnings Insight: WBA has beaten EPS and revenue estimates in 8 consecutive quarters.

Also reporting : Korn Ferry ( KFY ), Schnitzer Steel ( SCHN ), TD Synnex ( SNX ), AeroVironment ( AVAV ), Jefferies ( JEF ), HUTCHMED (China) Limited ( HCM ), NovaGold Resources ( NG ), American Lithium ( AMLI ), LiveOne ( LVO ), Bassett Furniture Industries ( BSET ), Barnes & Noble Education ( BNED ), Akari Therapeutics ( AKTX ) and more.

Wednesday, June 28

Micron Technology ( MU )

Micron Technology ( MU ) will reveal its Q3 financial figures after the closing bell on Wednesday. Analysts expect mixed quarterly results after the company missed the consensus mark in the previous quarter.

The chip manufacturer's stock dropped on Friday after it warned that around half of its revenue from China customers was in danger due to the country's Cybersecurity Administration's continuing investigation into its devices. The stock continues to get a Buy recommendation from Wall Street analysts as opposed to a Hold rating from Seeking Alpha's Quant rating system.

• Consensus EPS Estimates: -$1.56
• Consensus Revenue Estimates: $3.68B
• Earnings Insight: The semiconductor firm has beaten EPS expectations in 6 of the past 8 quarters and has beaten revenue estimates in half of those reports.

Also reporting : BlackBerry ( BB ) , General Mills ( GIS ), H.B. Fuller Company ( FUL ), Worthington Industries ( WOR ), American Outdoor Brands ( AOUT ), Borqs Technologies ( BRQS ), IronNet ( IRNT ), IGC Pharma ( IGC ), Staffing 360 Solutions ( STAF ), National Beverage ( FIZZ ) and more.

Thursday, June 29

Nike ( NKE ) is scheduled to post its Q4 results on Thursday, after the closing bell. The Oregon-based footwear giant gets a Hold rating from Seeking Alpha's Quant Rating system, a more cautious view than the consensus Buy rating from Wall Street Analysts.

In a note released in the week leading up to the earnings report, Morgan Stanley cautioned against relying too much on Nike's future projections due to ongoing margin pressure from promotional activities and inventory problems.

• Consensus EPS Estimates: $0.67
• Consensus Revenue Estimates: $12.58B
• Earnings Insight: The company has beaten EPS estimates in 8 straight quarters and revenue estimates 7 times in that timeframe.

Also reporting : Nano Dimension ( NNDM ), Paychex ( PAYX ) Rite Aid ( RAD ), McCormick & Company ( MKC ), MSC Industrial Direct ( MSM ), Acuity Brands ( AYI ), The Simply Good Foods Company ( SMPL ), Progress Software Corporation ( PRGS ), Lindsay Corporation ( LNN ), SMART Global Holdings ( SGH ), The Greenbrier Companies ( GBX ), Accolade ( ACCD ), Cybin ( CYBN ), GreenPower Motor Company ( GP ) and more.

Friday, June 30

Constellation Brands ( STZ )

Constellation Brands ( STZ ) is set to post Q1 earnings before the opening bell on Friday. The alcoholic beverage producer announced mixed Q4 results. Headed into the latest earnings report, Wall Street Analysts have a consensus Buy rating, but Seeking Alpha Quant Ratings assesses the company as a Hold .

• Consensus EPS Estimates: $2.82
• Consensus Revenue Estimates: $2.47B
• Earnings Insight: The company has topped revenue estimates in 7 of the past 8 quarters and EPS estimates in 5 of those reports.

Also reporting : Pure Cycle Corporation ( PCYO ), Highway Holdings Limited ( HIHO ) and BitNile Metaverse ( BNMV ).

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