UAL - Earnings week ahead: Tesla Bank of America AT&T Netflix American Airlines and more

October, 15 2023 08:01 AM United Airlines Holdings Inc.

2023-10-15 08:01:00 ET

Earnings season begins to ramp up in mid-October, with a rush of releases from some of the world's most prominent companies, including Elon Musk's EV giant Tesla ( NASDAQ: TSLA ). The lineup also features major banks, pharmaceutical firms and prominent airlines, as well as tech and telecom giants.

Looking at specific names, the week will see financial figures from Goldman Sachs ( NYSE: GS ), Bank of America ( NYSE: BAC ), Morgan Stanley ( MS ), Johnson & Johnson ( JNJ ), Abbott ( NYSE: ABT ), American Airlines ( NASDAQ: AAL ), United Airlines ( NASDAQ: UAL ), AT&T ( NYSE: T ) and Netflix ( NASDAQ: NFLX ).

Meanwhile, the slate of reports also includes Kinder Morgan ( KMI ), Blackstone ( BX ), American Express ( AXP ), BNY Mellon ( BK ), Philip Morris ( PM ), Lockheed Martin ( LMT ), Ericsson ( ERIC ) and Alcoa ( AA ).

Below is a rundown of major quarterly updates anticipated in the week of October 16 to 20:

Tuesday, October 17

Bank of America ( BAC )

Bank of America ( BAC ) will announce its Q3 earnings before the market opens on Tuesday. The report comes only days after J.P. Morgan ( JPM ), Citigroup ( C ) and Wells Fargo ( WFC ) reported better-than-expected Q3 results.

Investing Group Leader Mott Capital Management says that the Bank of America's stock has fallen, with traders betting on its continuation. The bank's earnings and revenue forecasts worsen, with sales and earnings expected to decline due to rising Treasury rates and loan loss provisions.

The bank gets a Hold rating from Seeking Alpha's Quant Rating System, a more cautious view than the consensus Buy rating from Wall Street analysts.

Consensus EPS Estimates: $0.82
Consensus Revenue Estimates: $25.07B
Earnings Insight: The bank has exceeded EPS expectations in 7 of the past 8 quarters and revenue estimates in 6 of those reports.

Also reporting : Albertsons ( ACI ), BNY Mellon ( BK ), Ericsson ( ERIC ), Goldman Sachs ( GS ), Johnson & Johnson ( JNJ ), Lockheed Martin ( LMT ), United Airlines ( UAL ) and more.

Wednesday, October 18

Tesla ( TSLA )

In one of the most anticipated reports of the week, Tesla ( TSLA ) is slated to disclose its Q3 earnings after the closing bell on Wednesday. The EV giant's Q3 delivery of 435,059 automobiles fell short of estimates and was much lower than the Q2 deliveries of 466,140 units. This came due to scheduled downtimes for plant upgrades.

According to Seeking Alpha data , 11 analysts have a Strong Buy recommendation on TSLA, with five others viewing the stock as a Buy rating. There are also 19 analysts that have a Hold rating. In the bearish camp, the stock has received two Strong Sell recommendations and three Sell ratings.

Christoph Liu, an SA author, doubts Tesla's ability to achieve its aspirational targets due to growing competition, potential political challenges and Tesla's history of overpromising.

Consensus EPS Estimates: $0.75
Consensus Revenue Estimates: $24.25B
Earnings Insight: Tesla has beaten revenue estimates in 5 of the past 8 quarters, missing EPS expectations only once in that period.

Also reporting : Abbott Labs ( ABT ), Ally Financial ( ALLY ), ASML ( ASML ), Citizens Financial Group ( CFG ), Commerce Bancshares ( CBSH ), Elevance Health ( ELV ), First Horizon ( FHN ), M&T Bank ( MTB ), Morgan Stanley ( MS ), NASDAQ ( NDAQ ), Northern Trust ( NTRS ), Procter & Gamble ( PG ), State Street ( STT ), Travelers ( TRV ), Winnebago ( WGO ), Alcoa ( AA ), Discover Financial Services ( DFS ), Equifax ( EFX ), Kinder Morgan ( KMI ), Lam Research ( LRCX ), Las Vegas Sands ( LVS ), Netflix ( NFLX ) and more.

Thursday, October 19

AT&T ( T )

AT&T ( T ) is due to post its Q3 earnings update before the opening bell on Thursday. After mixed Q2 results, analysts expect EPS to decline Y/Y for the quarter.

SA Author Tradevestor is confident that AT&T will report strong Q3 FCF, with EPS and revenue slightly above expectations. However, the author believes that the stock may not move upwards unless the beats are wider than recent margins.

The stock has dropped more than 26% over the past six months, yet Wall Street analysts continue to urge buying it, as opposed to Seeking Alpha's Quant Rating system, which has noted growth issues and has given the stock a Hold rating .

Consensus EPS Estimates: $0.62
Consensus Revenue Estimates: $30.24B
Earnings Insight: AT&T has beaten EPS estimates in 8 consecutive quarters, missing revenue expectations in only three in that span.

Also reporting : Alaska Air ( ALK ), American Airlines ( AAL ), Blackstone ( BX ), CSX ( CSX ), Freeport-McMoRan ( FCX ), Nokia ( NYSE: NOK ), Union Pacific ( UNP ) and more.

Friday, October 20

Schlumberger Limited ( NYSE: SLB )

The world’s largest oilfield service company, Schlumberger ( SLB ), is due to announce its Q3 earnings in the premarket hours on Friday. The company reported mixed results in Q2, but free cash flow swung to positive $986M from negative $119M in the year-ago period; cash flow from operations quadrupled to $1.61B from $408M a year earlier.

The company's shares have risen almost 40% over a period of 12 months, attracting a Strong Buy rating from Wall Street analysts. However, Seeking Alpha's Quant rating system has issued a Hold rating .

Consensus EPS Estimates: $0.77
Consensus Revenue Estimates: $8.33B
Earnings Insight: The company has beaten EPS estimates in 8 straight quarters and revenue estimates in 6 of those reports.

Also reporting : American Express ( AXP ), Autoliv ( ALV ), Berkshire Hills Bancorp ( BHLB ), Comerica ( CMA ), Euronet ( EEFT ), First Bancorp ( FBP ), Hilltop Holdings ( HTH ), Huntington ( HBAN ), Interpublic ( IPG ), Regions Financial ( RF ), Sensient ( SXT ) and more.

More on Upcoming Earnings:

For further details see:

Earnings week ahead: Tesla, Bank of America, AT&T, Netflix, American Airlines and more

Company Name:	United Airlines Holdings Inc.
Stock Symbol:	UAL
Market:	NASDAQ

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