12 Key Earnings Previews For The Week Ahead (CCL, FDX, ADBE, BBBY, AZO, KMX, CTAS, CAG, JEF, ORCL, TIBX, KBH)September 17, 2012 by Jon C. Ogg
This is not exactly a packed week for earnings like you would see in earnings season, but we still have many key earnings reports. We have provided previews for the following: Carnival Corporation (NYSE: CCL); FedEx Corporation (NYSE: FDX); Adobe Systems Inc. (NASDAQ: ADBE); Bed Bath & Beyond Inc. (NASDAQ: BBBY); AutoZone Inc. (NYSE: AZO); CarMax Inc. (NYSE: KMX); Cintas Corporation (NASDAQ: CTAS); ConAgra Foods, Inc. (NYSE: CAG); Jefferies Group, Inc. (NYSE: JEF); Oracle Corporation (NASDAQ: ORCL); TIBCO Software Inc. (NASDAQ: TIBX); and KB Home (NYSE: KBH).
Analyst consensus estimates have been taken from Thomson Reuters and these have been grouped by the day of the week each are expected to report earnings.
Carnival Corporation (NYSE: CCL) is set to report on Monday according to Barron’s and estimates are $1.44 EPS and $4.68 billion in sales. The company noted with its past guidance: Third quarter constant dollar net revenue yields excluding Costa, are expected to decrease 3 to 4 percent (including Costa, expected to decrease 6 to 7 percent). Keep in mind that shares are back close to 52-week highs.
FedEx Corporation (NYSE: FDX) reports on Tuesday and estimates are $1.40 EPS and $10.7 billion in sales. Shares have recovered back closer to a near-term resistance after a prior warning. Monday’s pre-earnings session is showing a drop of almost 1% to $89.34 and this is down from a peak of above $95 almost six months ago.
Adobe Systems Inc. (NASDAQ: ADBE) will report earnings after the close on Wednesday and its woes with Apple Inc. (NASDAQ: AAPL) over Flash for the iPad and iPhone have not kept its shares from staying close to 52-week highs. Thomson Reuters has a consensus of $0.58 EPS and $1.1 billion for the last quarter, and the quarter ahead has estimates of $0.67 EPS and $1.21 billion in sales.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) is set to report earnings on Wednesday as well. Estimates are $0.84 EPS on $2.24 billion in sales. As a reminder, the Cost Plus acquisition will be included in forward guidance and analysts are often very bad at integrating sales and earnings figures when it comes to mergers.
AutoZone Inc. (NYSE: AZO) reports on Wednesday. This is one of the high-priced stocks and analysts are expected to post $8.41 EPS and $2.8 billion in sales. Shares are nestled right in between the 52-week high and the 52-week low.
CarMax Inc. (NYSE: KMX) reports on Thursday and shares are down about 10% from their 52-week highs. Earnings estimates are $0.52 EPS and $2.74 billion in revenue.
Cintas Corporation (NASDAQ: CTAS) reports on Thursday and we cannot help but wonder how and why the uniform maker’s drop since the post-QE3 share price drop is signaling disbelief here. If jobs are growing, uniforms and business services should be in favor. Estimates are $0.59 EPS and $1.06 billion in revenue.
ConAgra Foods, Inc. (NYSE: CAG) reports on Thursday and estimates are $0.36 EPS and $3.24 billion in revenue.
Jefferies Group, Inc. (NYSE: JEF) is set to report earnings on Thursday and we recently saw that the firm could have a large gain tied to its investment in Knight Capital Group, Inc. (NYSE: KCG). Jefferies is up more than 50% from its lows after pressure was in the shares in 2011. Thomson Reuters has estimates of $0.28 EPS and $690.35 million.
Oracle Corporation (NASDAQ: ORCL) is reporting earnings on Thursday afternoon. Estimates are $0.53 EPS and $8.43 billion in revenue and the next quarter estimates are $0.61 EPS and $9.23 billion in revenue. Despite past earnings problems, Oracle’s share price of just under $33 is back to with 3% or so of its high. Oracle’s shares are up about 27% or so from the May bottom, but we would caution that rival SAP AG (NYSE: SAP) is also close to its 52-week high and it seems that SAP had been making great strides over the last year after years of losing market share to Oracle.
TIBCO Software Inc. (NASDAQ: TIBX) is set to report earnings on Thursday and estimates are $0.27 EPS and $259.79 million in revenue.
KB Home (NYSE: KBH) is set to report earnings on Friday morning. Despite a big drop of over 3% on Monday, this stock was back to within 1% of a 52-week high on the same day. Estimates are -$0.16 EPS and $430 million in revenue.
JON C. OGG