Earnings Previews: Kraft Heinz, Spotify, T-Mobile

Before markets opened on Monday, Otis Worldwide beat analysts’ profit estimates while missing on expected revenue. The elevator maker also narrowed its fiscal year earnings per share (EPS) forecast range and lowered its forecast revenue range. Shares traded up about 2.2% shortly after the opening bell.

Activision Blizzard missed on EPS and revenue, but Microsoft still has the $95.00 per share offer on the table so the stock is down less than 1%. Coca-Cola beat both top-line and bottom-line estimates and left its guidance unchanged. The stock was trading up by about 1.8% in the early going Monday.

Before markets open on Tuesday, we shall hear from eight companies we already have previewed. ADM, Corning, D.R. Horton and PepsiCo were covered in one story, and GE, Raytheon, UPS and Valero in another.

Earlier in the morning, we previewed eight companies set to report results after markets close Tuesday: Enphase Energy, GM, QuantumScape and Texas Instruments are in one report, while Alphabet, Chipotle, Microsoft and Visa are in a second. We also have written a preview of what to expect when Boeing, General Dynamics and Teck Resources share quarterly results before Wednesday’s opening bell.

Here is a look three more notable reports expected before Wednesday’s open.

Kraft Heinz

Kraft Heinz Co. (NASDAQ: KHC) has added about 8.8% to its share price over the past 12 months. But it is the fat dividend payment, not the share price growth, that keeps the company’s biggest shareholder happy. Warren Buffett and Berkshire Hathaway own more than 26% of the outstanding shares (about 325.6 million) and stand to collect more than $520 million in dividends this year. For added value, food stocks are likely to rise in value as investors get defensive and push share prices higher for consumer staples.

Analysts are mildly optimistic on the stock, with 14 of 20 giving the stock a Hold rating and four rating the shares a Buy or Strong Buy. At a recent price of around $42.40, the shares trade above the median price target of $40.00. At the high price target of $50, the upside potential is 17.9%.

Kraft Heinz is expected to post first-quarter revenue of $5.8 billion, down 13.5% sequentially and down 9.2% year over year. Adjusted EPS are forecast at $0.53, down 33.1% sequentially and 26.4% lower year over year. For the full 2022 fiscal year, analysts are looking for EPS of $2.63, down 10.2% year over year, on revenue of $24.92 billion, down by 4.3%.

The stock trades at 16.1 times expected 2022 EPS, 15.6 times estimated 2023 earnings of $2.73 and 15.2 times estimated 2024 earnings of $2.80 per share. The stock’s 52-week range is $32.78 to $44.95. Kraft Heinz pays an annual dividend of $1.60 (yield of 3.76%). Total shareholder return for the past 12 months was 9.7%.

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