BYRN - Earnings week ahead: PepsiCo Delta Airlines JPMorgan Citigroup UnitedHealth and more

2023-07-07 11:08:15 ET

Next week marks the start of a crucial period as earnings season kicks off, with major companies from the financial, consumer, and technology sectors all set to release their quarterly financial results.

Among the list of firms scheduled to announce their financial figures are PepsiCo ( NASDAQ: PEP ), JPMorgan ( NYSE: JPM ), Delta Air Lines ( NYSE: DAL ), Ericsson ( ERIC ), BlackRock ( NYSE: BLK ), UnitedHealth ( NYSE: UNH ), Morgan Stanley ( MS ), and Citigroup ( NYSE: C ).

Market participants will closely monitor these companies' reports to assess overall performance of various sectors. These earnings announcements are expected to have a significant impact on market sentiment and may influence investment decisions.

Below is a rundown of major quarterly updates anticipated in the week of July 10 to 14:

Monday, July 10

Saratoga Investment ( NYSE: SAR )

Saratoga Investment ( SAR ) is all set to report its Q1 financial figures after the closing bell. The company recorded a Net Investment Income per share increase of 69% over both last year and the fourth quarter of last year during the most recent quarter, and adjusted NII per share growth of 27% and 85% over those same periods, which reflects better margins. Wall Street analysts are quite upbeat and often rate the company as a Strong Buy.

• Consensus EPS Estimates: $0.85
• Consensus Revenue Estimates: $31.41M
• Earnings Insight: The company has beaten EPS expectations in 5 of the past 8 quarters, beating revenue estimates in 6 of those reports.

Also reporting : Helen of Troy Limited ( HELE ), WD-40 Company ( WDFC ), PriceSmart ( PSMT ), E2open Parent Holdings ( ETWO ), and CalAmp ( CAMP ).

Tuesday, July 11

Byrna Technologies ( BYRN )

Byrna Technologies ( BYRN ) is due to report its Q2 earnings before the bell. The company reported 5% sales growth and a +13.7% Y/Y increase in gross profit in Q1.

• Consensus EPS Estimates: -$0.02 (one analyst estimate)
• Consensus Revenue Estimates: $12M (one analyst estimate).

Wednesday, July 12

MillerKnoll ( MLKN )

MillerKnoll ( MLKN ) is scheduled to unveil its Q4 financial figures after the market close. In Q3, the company provided mixed results along with Q4 estimates that fell short of consensus. The company anticipates net sales for the quarter in the $930 million to $970 million range and adjusted EPS in the $0.37 to $0.43 range.

• Consensus EPS Estimates: $0.39
• Consensus Revenue Estimates: $945.56M
• Earnings Insight: The company has beaten EPS estimates in 6 and revenue estimates in 4 of the past 8 quarters.

Also reporting : AngioDynamics ( ANGO ), Theratechnologies ( THTX ) and Ocean Power Technologies ( OPTT ).

Thursday, July 13

Delta Airlines ( DAL )

Shedding light on the recovery of the travel and tourism sectors amid ongoing challenges in the post-pandemic landscape, Delta Air Lines ( DAL ) will be the first major airline to report earnings this season. The airline is due to report earnings on Thursday before the market opens. Despite mixed Q1 earnings results, the airline stock rallied on an upbeat forecast. The CEO stated: "For the June quarter, we expect to deliver record revenue, and an adjusted operating margin of 14 to 16 percent with earnings per share of $2.00 to $2.25. With solid March quarter profitability and a strong outlook for the June quarter, we are confident in our full-year guidance for revenue growth of 15 to 20 percent year over year, earnings of $5 to $6 per share, and free cash flow of over $2 billion." Glen Hauenstein, Delta's president said, "With record advance bookings for the summer, we expect June quarter revenue to be 15 to 17 percent higher on capacity growth of 17 percent year over year."

• Consensus EPS Estimates: $2.36
• Consensus Revenue Estimates: $15.46B
• Earnings Insight: Delta has flown above EPS estimates in 5 of the past 8 quarters and revenue above expectations in each of those quarters.

Also reporting : Fastenal Company ( FAST ), Wipro Limited ( WIT ), Conagra Brands ( CAG ), Educational Development ( EDUC ), Cintas ( CTAS ), PepsiCo ( PEP ), Progressive ( PGR ), Aehr Test Systems ( AEHR ), and Northern Technologies International ( NTIC ).

Friday, July 14

Friday will see a large number of major players in the financial space announce their quarterly results. Citigroup ( C ), Morgan Stanley ( MS ), Wells Fargo ( NYSE: WFC ), JP Morgan ( JPM ), and State Street ( NYSE: STT ) are all slated to release their financial figures. The U.S.'s largest banks recently passed their yearly stress tests, which are intended to determine how well each of them would fare in the case of a severe downturn.

Along with a slew of bank reports, UnitedHealth Group ( UNH ) will update investors on its quarterly results before the market opens on Friday. Following upbeat Q1 results, the company increased its full year net earnings outlook to $23.25 to $23.75 per share and adjusted net earnings to $24.50 to $25.00 per share from prior guidance of $24.40-$24.90.

Also reporting : BlackRock ( BLK ), Telefonaktiebolaget LM Ericsson ( ERIC ), Washington Federal ( WAFD ), Senmiao Technology Limited ( AIHS ).

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