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Auto Stocks Earnings Releases on May 3: BAMXF, RACE & More
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The majority of auto companies have already reported their first-quarter 2018 results. Some important companies such as General Motors Company (GM - Free Report) , Ford Motor Company (F - Free Report) and Harley-Davidson Inc. (HOG - Free Report) reported their quarterly numbers recently. All these companies reported an earnings beat in the quarter under review.
Per the Earnings Preview, as of Apr 25, 154 S&P 500 companies announced results. The earnings and revenue beat ratios for these companies are 80.5% and 72.1%, respectively.
First-quarter 2018 earnings and revenue growth for auto companies are expected to be in the negative territory. Auto stocks are expected to register a 7.9% and 3.2% year-over-year decline in earnings and revenues, respectively. However, during the first quarter, the S&P 500 companies are anticipated to record 20% and 8% year-over-year growth in earnings and revenues, respectively.
In fact, the auto sector, which is plagued with myriad problems, reported solid sales in March 2018. After a slow start in 2018, major automakers reported robust sales in March. A strong job market and tax reforms drove consumer demand, which in turn aided sales.
In Europe, automakers are witnessing a decline in vehicle sales. Per European Automobile Manufacturers’ Association, vehicle registrations edged down 0.6% in first-quarter 2018. This decline was majorly due to slowing economic growth and uncertain trading regulations.
Let’s take a look at four auto companies, which are scheduled to announce their results tomorrow.
We relied on the Zacks methodology, combining a favorable Zacks Rank — #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Earnings ESP to predict chances of a beat this quarter.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Per our proprietary methodology, Earnings ESP shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Our research shows that with an ideal combination of the two key ingredients — Zacks Rank and ESP — chances of a positive surprise are as high as 70% for the stocks, which are lined up for an earnings release.
Munich, Germany-based BMW AG is engaged in developing, manufacturing and selling automobiles and motorcycles worldwide. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #2.
Bayerische Motoren Werke AG Price and EPS Surprise
Italy-based Ferrari is engaged in designing, manufacturing and selling sports cars. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
Dublin, Ireland-based Adient is an automotive-seating supplier. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of -0.79% and a Zacks Rank #3.
Cambridge, MA-based CarGurus operates an online automotive marketplace which connects buyers and sellers of new and used cars worldwide. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Auto Stocks Earnings Releases on May 3: BAMXF, RACE & More
The majority of auto companies have already reported their first-quarter 2018 results. Some important companies such as General Motors Company (GM - Free Report) , Ford Motor Company (F - Free Report) and Harley-Davidson Inc. (HOG - Free Report) reported their quarterly numbers recently. All these companies reported an earnings beat in the quarter under review.
Auto companies, scheduled to report earnings on May 3 are BMW AG (BAMXF - Free Report) , Ferrari N.V. (RACE - Free Report) , Adient plc (ADNT - Free Report) and CarGurus, Inc. (CARG - Free Report) .
Per the Earnings Preview, as of Apr 25, 154 S&P 500 companies announced results. The earnings and revenue beat ratios for these companies are 80.5% and 72.1%, respectively.
First-quarter 2018 earnings and revenue growth for auto companies are expected to be in the negative territory. Auto stocks are expected to register a 7.9% and 3.2% year-over-year decline in earnings and revenues, respectively. However, during the first quarter, the S&P 500 companies are anticipated to record 20% and 8% year-over-year growth in earnings and revenues, respectively.
In fact, the auto sector, which is plagued with myriad problems, reported solid sales in March 2018. After a slow start in 2018, major automakers reported robust sales in March. A strong job market and tax reforms drove consumer demand, which in turn aided sales.
In Europe, automakers are witnessing a decline in vehicle sales. Per European Automobile Manufacturers’ Association, vehicle registrations edged down 0.6% in first-quarter 2018. This decline was majorly due to slowing economic growth and uncertain trading regulations.
Let’s take a look at four auto companies, which are scheduled to announce their results tomorrow.
We relied on the Zacks methodology, combining a favorable Zacks Rank — #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Earnings ESP to predict chances of a beat this quarter.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Per our proprietary methodology, Earnings ESP shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Our research shows that with an ideal combination of the two key ingredients — Zacks Rank and ESP — chances of a positive surprise are as high as 70% for the stocks, which are lined up for an earnings release.
Munich, Germany-based BMW AG is engaged in developing, manufacturing and selling automobiles and motorcycles worldwide. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #2.
Bayerische Motoren Werke AG Price and EPS Surprise
Bayerische Motoren Werke AG Price and EPS Surprise | Bayerische Motoren Werke AG Quote
Italy-based Ferrari is engaged in designing, manufacturing and selling sports cars. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
Ferrari N.V. Price and EPS Surprise
Ferrari N.V. Price and EPS Surprise | Ferrari N.V. Quote
Dublin, Ireland-based Adient is an automotive-seating supplier. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of -0.79% and a Zacks Rank #3.
Adient PLC Price and EPS Surprise
Adient PLC Price and EPS Surprise | Adient PLC Quote
Cambridge, MA-based CarGurus operates an online automotive marketplace which connects buyers and sellers of new and used cars worldwide. Our model does not conclusively predict that the company is likely to deliver a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
CarGurus, Inc. Price and EPS Surprise
CarGurus, Inc. Price and EPS Surprise | CarGurus, Inc. Quote
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>