Earnings this week : Jan 10 - 14, 2022 (wk 2)

Monday (Jan 10)

• Morning:  AZZ CMC TLRY
• Afternoon: ACCD

Tuesday (Jan 11)

• Morning: ACI SNX

Wednesday (Jan 12)

• Morning:  JEF SJR
• Afternoon:  KBH

Thursday (Jan 13)

• Morning: DAL TSM
• Afternoon:  WAFD

Friday (Jan 14)  

• Morning:  BLK C FRC JPM WFC

Earnings this week : Oct 11 - 15, 21 (wk 41)

The Q3 earnings season begins this week.

Monday (Oct 11)

•  none

Tuesday (Oct 12)

• Morning: AZZ FAST
• Afternoon:  PNFP SGH

Wednesday (Oct 13)

• Morning:  BLK DAL FRC JPM

Thursday (Oct 14)

• Morning: BAC C CMC DPZ MS PGR TSM USB UNH WBA WFC
• Afternoon:  AA DCT WAFD

Friday (Oct 15)  

• Morning:  BMI GS JBHT PNC PLD SXT TFC

Earnings this week : October 12 - 16, 20 (wk 42)

Big banks will lead off the Q3 earnings season this week. Of note, the 12 largest U.S. banks are all forecast to report a profit. Overall, Q3 profit for S&P 500 companies is forecast to be down 21% Y/Y to improve on the 31% drop recorded in Q2.

TUESDAY, OCT 13: 

• JPMorgan Chase & Co. (NYSE: JPM), Johnson & Johnson (NYSE: JNJ), Citigroup Inc (NYSE: C), Delta Air Lines, Inc. (NYSE: DAL).

WEDNESDAY, OCT 14: 

• Bank of America Corp (NYSE: BAC), Progressive Corp (NYSE: PGR), Wells Fargo & Co (NYSE: WFC), Goldman Sachs Group Inc (NYSE: GS), PNC Financial Services Group Inc (NYSE: PNC), U.S. Bancorp (NYSE: USB).

THURSDAY, OCT 15: 

• Aphria Inc (NASDAQ: APHA), Walgreens Boots Alliance Inc (NASDAQ: WBA), Morgan Stanley (NYSE: MS), Truist Financial Corp (NYSE: TFC), Charles Schwab Corporation (NYSE: SCHW).

FRIDAY, OCT. 16: 

• Ally Financial Inc (NYSE: ALLY), Schlumberger NV (NYSE: SLB), Bank of New York Mellon Corp (NYSE: BK), State Street Corp (NYSE: STT), Citizens Financial Group Inc (NYSE: CFG), J B Hunt Transport Services Inc (NASDAQ: JBHT).

 

Earnings spotlight: 

• BlackRock (NYSE:BLK), Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Delta Air Lines (NYSE:DAL), Johnson & Johnson (NYSE:JNJ) on October 13; 
• Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), PNC (NYSE:PNC), Progressive (NYSE:PGR), U.S. Bancorp (NYSE:USB), UnitedHealth (NYSE:UNH), United Airlines (NASDAQ:UAL) and Wells Fargo (NYSE:WFC) on October 14; 
• Charles Schwab (NYSE:SCHW), Morgan Stanley (NYSE:MS), Truist (NYSE:TFC) and Walgreens Boots Alliance (NASDAQ:WBA) on October 15; 
• Ally Financial (NYSE:ALLY), Bank of New York Mellon (NYSE:BNY) and J.B Hunt Transport (JBH) on October 16.

Earnings this week : July 13 - 17, 20 (wk 29)

Monday (July 13)

• Morning: PEP

Tuesday (July 14)

• Morning: C DAL FAST FRC JPM WFC

Wednesday (July 15)

• Morning: ASML BK GS PNC USB UNH
• Afternoon: AA SNBR

Thursday (July 16)

• Morning: ABT ANGO BMI BAC DPZ HOMB JNJ MS SON TSM TFC WNS
• Afternoon: FNB JBHT MRTN NFLX PPG WAL

Friday (July 17) 

• Morning: ALLY ALV BLK CFG ERIC FHN KSU RF STT

Earnings spotlight: 
PepsiCo (PEP) on July 13; Citigroup (NYSE:C), Delta Air Lines (NYSE:DAL), JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) on July 14; Goldman Sachs (NYSE:GS), PNC Bank (NYSE:PNC), U.S. Bancorp (NYSE:USB) and Alcoa (NYSE:AA) on July 15; Abbott Labs (ABT), Domino's Pizza (DPZ), Johnson & Johnson (NYSE:JNJ), Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS) and Netflix (NFLX) on July 16; Autoliv (NYSE:ALV), Ally Financial (NYSE:ALLY) and BlackRock (NYSE:BLK) on July 17.

Earnings nuggets: 
When banks start to report Q2 earnings on Tuesday, July 14, all eyes will be on credit loss estimates to see if they are larger than Q1's reserves. On Wall Street, Wells Fargo analyst Mike Mayo taps Goldman Sachs (GS) as the top investment into the earnings parade due in part to the great risk managers at the bank, while JPMorgan sees Bank of America and Citigroup outperforming in the near term. Other bank stocks seen riding out the earning blitz in decent shape include Truist Financial (NYSE:TFC), Citigroup (C), KeyCorp (NYSE:KEY), Signature Bank (NASDAQ:SBNY) and Western Alliance (NYSE:WAL). Meanwhile, Goldman Sachs expects Netflix to post a blowout net subscriber addition tally of 12.5M for Q2. The firm assigned a Street-high price target of $670 to back up its bullish thesis, which is centered on that the COVID-19 crisis is accelerating the shift from traditional content consumption (linear TV, theaters, live events) to streaming services. In the consumer sector, UBS expects Domino's Pizza to blast past consensus estimates for U.S. same-store sales growth of 16%, while Morgan Stanley tips that PepsiCo will post a weak Q2 (-3% organic sales, -19% EPS growth), but recommends snapping up shares for the long term on any weakness.

Earnings this week : Jan 13 - 17, 20 (wk 3)

Monday (Jan 13)

• Morning: SJR

Tuesday (Jan 14)

• Morning: APHA C DAL FRC INFO JPM WFC WIT
• Afternoon: OGI WAFD

Wednesday (Jan 15)

• Morning: BAC BLK GS PNC USB UNH
• Afternoon: AA EGBN HWC KMI

Thursday (Jan 16)

• Morning: BK HOMB IIIN MS PPG TSM WNS
• Afternoon: OZK BEDU CSX PBCT PRGS

Friday (Jan 17)

• Morning: CFG FAST FHN JBHT KSU RF SLB STT

Notable earnings reports:

• JPMorgan (JPM), Wells Fargo (NYSE:WFC), Delta Air Lines (NYSE:DAL), Citigroup (NYSE:C), IHS Markit (NYSE:INFO) and Aphria (APHA) on January 14; 
• Bank of America (NYSE:BAC), Goldman Sachs (GS) United Healthcare (UNH), BlackRock (NYSE:BLK), U.S. Bancorp (NYSE:USB), Alcoa (NYSE:AA) and PNC Financial (NYSE:PNC) on January 15; 
• Morgan Stanley (NYSE:MS), Taiwan Semiconductor (NYSE:TSM) and CSX (NASDAQ:CSX) on January 16; Fastenal (NASDAQ:FAST), J.B. Hunt Transport (NASDAQ:JBHT), Kansas City Southern (NYSE:KSU), Schlumberger (NYSE:SLB) and State Street (NYSE:STT).

Delta Air Lines (DAL) reported earnings on Thur 11 July 19 (b/o)

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Delta Air Lines beats by $0.07, reports revs in-line; guides Q3 EPS in-line; raises FY19 EPS and revenue; increases dividend 15%

• Reports Q2 (Jun) earnings of $2.35 per share, $0.07 better than the S&P Capital IQ Consensus of $2.28; revenues rose 6.5% year/year to $12.54 bln vs the $12.49 bln S&P Capital IQ Consensus, a new quarterly record, with 52 percent of adjusted revenue from premium products and non-ticket sources; 2.3 points of operating margin expansion and $1.8 billion of free cash flow. Total unit revenue, adjusted, increased 3.8% (above 1.5-3.5% original guidance), driven by healthy growth in leisure and corporate revenue and an approximate one point benefit from the amended American Express agreement announced earlier this year.
• Co issues in-line guidance for Q3, sees EPS of $2.10-2.40, excluding non-recurring items, vs. $2.16 S&P Capital IQ Consensus; unit revenue +1.5-3.5%, 
• Co issues in-line guidance for FY19, raises EPS to $6.75-7.25 from $6-7, excluding non-recurring items, vs. $6.98 S&P Capital IQ Consensus; revenue growth to 6-7% from 4-6%. "With record passenger loads, customer satisfaction and $1 billion in revenue growth for the June quarter, demand for Delta's customer-focused product and service has never been stronger. Our third quarter is off to a great start with a new highest revenue day on record on July 7th," said Glen Hauenstein, Delta's president. "We now expect revenue growth of six to seven percent for the year, a $3 billion increase over 2018, as we benefit from our multi-year pipeline of fleet, product, and loyalty initiatives."
• The Board of Directors today declared a quarterly dividend of $0.4025 per share, an increase of 15% over previous levels. This marks the sixth consecutive increase in Delta's dividend since it was established in 2013.
• CEO Ed Bastian on CNBC: Results in the quarter are not one-off. Seeing some softness in Pacific and Atlantic but modest compared to overall strength in domestic business. Benefit from 737 MAX is marginal, domestic supply is down 1-2%.

Fastenal (FAST) reported earnings on Thur 11 July 19 (b/o)

• Fastenal (FAST) as a distributor—and as one of the first industrial companies to report numbers this earnings season—its numbers will hold a lot of clues for investors regarding the health of the industrial economy

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** charts after earnings **

Fastenal increases quarterly dividend to $0.22/share from $0.215/share (split adjusted)
Fastenal misses by $0.01, reports revs in-line

• Reports Q2 (Jun) earnings of $0.36 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.37; revenues rose 7.9% year/year to $1.37 bln vs the $1.38 bln S&P Capital IQ Consensus.
• "Our gross profit, as a percentage of net sales, declined 180 basis points to 46.9% in the second quarter of 2019 from 48.7% in the second quarter of 2018. The most significant factors behind the decline in our gross profit percentage in the period were the impacts of customer and product mix and net inflation on product margins, the latter of which had a larger negative impact on our margin than in the first quarter of 2019. While we successfully raised prices as one element of our strategy to offset tariffs placed to date on products sourced from China, those increases were not sufficient to also counter general inflation in the marketplace. We have taken additional actions in the third quarter of 2019 to counter the broader pressures we are experiencing on our costs as well as the additional tariffs that were levied on China-sourced products in May 2019."

Earnings this week : Oct 8 - 12, 18 (wk 41)

Earnings confirmed to report this week

Tuesday (Oct 9)

• Morning: AZZ, HELE

Wednesday (Oct 10)

• Morning: FAST

Thursday (Oct 11)

• Morning: CBSH DAL  DAVA  WBA

Friday (Oct 12)

• Morning: C JPM  PNC WFC FRC

Fastenal (FAST) reported earnings on Wed 11 July 2018 (b/o)

• First S&P500 company to report this earning season

** charts before earnings **

 

** charts after earnings **

 

Fastenal beats by $0.08, reports revs in-line

• Reports Q2 (Jun) earnings of $0.74 per share, $0.08 better than the Capital IQ Consensus of $0.66; revenues rose 13.1% year/year to $1.27 bln vs the $1.26 bln Capital IQ Consensus.
  • This increase in revenues was driven by higher unit sales related primarily to continued strength in underlying market demand and contribution from the co's growth drivers, most notably industrial vending and Onsite locations.
• "Our gross profit, as a percentage of net sales, declined 110 basis points to 48.7% in the second quarter of 2018 from 49.8% in the second quarter of 2017. We instituted a modest price increase in the second quarter of 2017 ahead of inflationary pressures that we were seeing in our supply chain, which produced an unseasonably strong gross profit margin in the three-month period. As inflation in the marketplace began to move through our income statement, it began to reduce the gross profit margin benefit we saw in the second quarter of 2017. Additional components that adversely affected our gross profit percentage during the second quarter of 2018 included higher freight expenses and changes in product and customer mix. Relative to the first quarter of 2018, our second quarter of 2018 gross profit percentage was flat. Challenges from product inflation and mix were offset by improvements in our freight management and leverage related to growth."