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Food Stocks Earnings Queued Up for Aug 9: USFD, LNCE
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We are in the last leg of the second quarter 2016 earnings season with almost 87.0% S&P 500 companies having already reported their quarterly results. However, investors aren’t satisfied as there is still no sign of growth. Having said that, the rate of decline is seen to be moderating from the previous quarter, pacifying investors' concern to an extent. The quarter is on track to be the fifth in a row to record an earnings decline for the S&P 500 index.
If we summarize the performance of the 433 S&P 500 members that have reported financial results so far, we will see that 70.7% of the companies beat on earnings and 52.7% surpassed revenue estimates, as per our Earnings Preview report. However, total earnings for these companies were down 4.1% year over year while revenues declined 0.9%.
In this scenario, investors are resorting to safe haven stocks and the consumer staples sector appears to be quite reliable.
Overall, the sector has reported modest results this quarter. Lower gas prices, an improving job scenario and increasing consumer confidence have been supporting the improvement in results.
In the consumer staples sector, 77.4% companies have reported Q2 earnings as of Aug 5. Out of these, 70.8% of the companies have posted an earnings beat, while 50.0% have surpassed revenue estimates. Total earnings for the sector are expected to increase 0.7% owing to flat revenues and 0.1% higher margins.
Food stocks are particularly doing well in the second quarter. Leading firms from the industry like The Hershey’s Company (HSY - Free Report) , Pinnacle Foods, Inc. , B&G Foods, Inc. (BGS - Free Report) , Colgate-Palmolive Co. (CL - Free Report) , Mondelez International, Inc. (MDLZ - Free Report) , The Kraft Heinz Company (KHC - Free Report) , Kellogg Co. (K - Free Report) and many others have delivered better-than-expected Q2 earnings results despite currency headwinds and the sluggishness in emerging markets.
Here we have two food stocks, which are scheduled to release their second-quarter numbers on Aug 9. Let's see how things are shaping up for their respective announcements.
US Foods Holding Corp. (USFD - Free Report) is scheduled to report before the opening bell. The food service distributor has a positive Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for second quarter earnings is pegged at 40 cents per share.
Snyder's-Lance, Inc. is also slated to release its results before the opening bell. The company, which is engaged in the manufacture, market and distribution of a variety of branded and private label snack foods and bakery products, has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for second quarter earnings is pegged at 26 cents. The company delivered positive earnings surprises in two of the past four quarters and negative surprises in the remaining two, making for an average negative surprise of 3.18%.
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Food Stocks Earnings Queued Up for Aug 9: USFD, LNCE
We are in the last leg of the second quarter 2016 earnings season with almost 87.0% S&P 500 companies having already reported their quarterly results. However, investors aren’t satisfied as there is still no sign of growth. Having said that, the rate of decline is seen to be moderating from the previous quarter, pacifying investors' concern to an extent. The quarter is on track to be the fifth in a row to record an earnings decline for the S&P 500 index.
If we summarize the performance of the 433 S&P 500 members that have reported financial results so far, we will see that 70.7% of the companies beat on earnings and 52.7% surpassed revenue estimates, as per our Earnings Preview report. However, total earnings for these companies were down 4.1% year over year while revenues declined 0.9%.
In this scenario, investors are resorting to safe haven stocks and the consumer staples sector appears to be quite reliable.
Overall, the sector has reported modest results this quarter. Lower gas prices, an improving job scenario and increasing consumer confidence have been supporting the improvement in results.
In the consumer staples sector, 77.4% companies have reported Q2 earnings as of Aug 5. Out of these, 70.8% of the companies have posted an earnings beat, while 50.0% have surpassed revenue estimates. Total earnings for the sector are expected to increase 0.7% owing to flat revenues and 0.1% higher margins.
Food stocks are particularly doing well in the second quarter. Leading firms from the industry like The Hershey’s Company (HSY - Free Report) , Pinnacle Foods, Inc. , B&G Foods, Inc. (BGS - Free Report) , Colgate-Palmolive Co. (CL - Free Report) , Mondelez International, Inc. (MDLZ - Free Report) , The Kraft Heinz Company (KHC - Free Report) , Kellogg Co. (K - Free Report) and many others have delivered better-than-expected Q2 earnings results despite currency headwinds and the sluggishness in emerging markets.
Here we have two food stocks, which are scheduled to release their second-quarter numbers on Aug 9. Let's see how things are shaping up for their respective announcements.
US Foods Holding Corp. (USFD - Free Report) is scheduled to report before the opening bell. The food service distributor has a positive Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for second quarter earnings is pegged at 40 cents per share.
US FOODS HLDG Price and EPS Surprise
US FOODS HLDG Price and EPS Surprise | US FOODS HLDG Quote
Snyder's-Lance, Inc. is also slated to release its results before the opening bell. The company, which is engaged in the manufacture, market and distribution of a variety of branded and private label snack foods and bakery products, has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for second quarter earnings is pegged at 26 cents. The company delivered positive earnings surprises in two of the past four quarters and negative surprises in the remaining two, making for an average negative surprise of 3.18%.
SNYDERS-LANCE Price and EPS Surprise
SNYDERS-LANCE Price and EPS Surprise | SNYDERS-LANCE Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>