Earnings Previews: Campbell Soup, Express, Stitch Fix, W&T Offshore, Zim Integrated Shipping

Express

Apparel retailer Express Inc. (NYSE: EXPR) has added nearly 82% to its share price over the past 12 months. For the year to date, shares are up almost 45%. The shares spiked in last year’s meme stock runup, adding around 900% before falling back. Since touching a post-meme stock low in late February of 2021, the shares are up about 95%. The company reports results before markets open on Wednesday.

The stock is barely covered by brokerage houses. Just two have ratings on the stock, and both are Hold. At a share price of around $4.50, the stock trades at its current median and high price targets.

For the fourth quarter of fiscal 2022, Express is expected to report revenue of $602.95 million, up nearly 28% sequentially and 40% year over year. Analysts expect adjusted EPS of $0.07 per share for the quarter, down 58.8% sequentially and better than the loss per share of $0.66 in the year-ago quarter. For the full fiscal year that ended in January, the loss per share is forecast at $0.26, down from a loss per share of $4.86 in fiscal 2021. Sales for the year are forecast to rise by 55.4% to $1.88 billion.

At the current share price, the stock’s multiple to estimated 2023 EPS is 22. No other estimates are available. The stock’s 52-week range is $2.30 to $18.67, and Express does not pay a dividend. Total shareholder return in the past year was 78.5%, thanks to that late February spike.

Stitch Fix

Online apparel retailer Stitch Fix Inc. (NASDAQ: SFIX) has seen its stock price drop by about 85% over the past 12 months. In December, the company reported a smaller-than-expected loss and beat on revenues, but it also cut sales guidance, citing supply chain issues and a campaign to attract new users. How investors react to quarterly earnings this time depends on how successful Stitch Fix has been at handling the supply chain problems and its success at attracting new customers. The company reports second-quarter fiscal 2022 results after the closing bell on Tuesday.

Analysts are mixed on the stock, with 11 of 16 rating the shares at Hold and three more at Buy. At a share price of around $10.70, the upside potential based on a median price target of $23.00 is 115%. At the high target of $40.00, the upside potential is 274%.

Fiscal second-quarter revenue is forecast at $514.89 million, down 11.4% sequentially but up 2.1% year over year. Stitch Fix is expected to post an adjusted per-share loss of $0.24, compared to a loss of $0.02 in the prior quarter and a loss of $0.20 per share a year ago. For the full fiscal year, the adjusted net loss is currently forecast at $0.77, worse than last year’s loss of $0.08 per share. Full-year revenue is forecast at $2.27 billion, up 8.3% compared to the prior year.

Stitch Fix is not expected to post a profit in 2022 or 2023. The share price to earnings multiple for 2024 based on a full-year EPS of $0.74 is 47.2. The stock’s 52-week range is $10.63 to $75.78. The low was posted earlier in the morning. Stitch Fix does not pay a dividend, and the total shareholder return for the past year is negative 85.3%.

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