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Earnings season is rapidly picking up pace, with a wide variety of companies scheduled to unveil quarterly results this week.
And next week, we’ll have an even bigger slate.
On the minds of many this week is big tech earnings, with several heavyweights slated to report.
While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill (CMG - Free Report) , Visa (V - Free Report) , and AbbVie (ABBV - Free Report) .
Let’s take a closer look at each.
Chipotle: July 26th
Chipotle shares have enjoyed strong price action in 2023, up 50% year-to-date. Analysts have raised their earnings expectations for the company, helping land the stock into a favorable Zacks Rank #2 (Buy).
The revisions trend has been notably positive for the quarter to be reported, with the $12.25 per share estimate up more than 2% since the end of April. The estimate reflects a solid 31% jump in earnings from the year-ago quarter.
Image Source: Zacks Investment Research
Our consensus revenue estimate presently stands at $2.5 billion, suggesting nearly 15% growth year-over-year. Analysts have slightly raised their top line expectations over the last several months, with the quarterly sales estimate up 0.4%.
CMG posted better-than-expected results in its latest quarter, exceeding the Zacks Consensus EPS estimate by nearly 20% and posting a modest revenue surprise. It’s worth noting that the results snapped a streak of negative surprises, helping send CMG shares soaring post-earnings.
Image Source: Zacks Investment Research
Visa: July 25th
Financial titan Visa has consistently been an earnings performer, chaining together 13 consecutive double-beats. In its latest release, the company posted a 6% bottom line beat and reported sales 3% above expectations.
The company’s revenue growth has remained steady, as shown below.
Image Source: Zacks Investment Research
Analysts haven’t had much to say regarding the upcoming release, with the $2.11 per share estimate up a fractional 0.5% since the end of April. Still, the company is forecasted to see solid growth, with estimates implying 7% earnings growth on 11% higher revenues.
Market participants will likely put focus on Visa’s Total Payment Volume (TPV), a critical metric for the company’s success. The Zacks Consensus estimate for TPV presently implies growth of 7% from the same period last year.
Visa bounced back and positively surprised on TPV in its latest release following three consecutive misses, exceeding the Zacks Consensus estimate by roughly 1%.
Image Source: Zacks Investment Research
AbbVie: July 27th
AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Analysts have taken their earnings expectations lower for the quarter to be reported, with the $2.78 per share estimate down nearly 3% since the end of April.
The company’s earnings are expected to decline, with the estimate reflecting a pullback of 17% year-over-year.
Image Source: Zacks Investment Research
However, analysts have shown some positivity regarding the top line, with the $13.5 billion quarterly revenue estimate being moved 1% higher over the last few months. Sales are forecasted to decline alongside earnings, with the estimate suggesting a 7% pullback within the top line.
Image Source: Zacks Investment Research
Bottom Line
It’s not just all about tech earnings this week, with the likes of Chipotle Mexican Grill (CMG - Free Report) , Visa (V - Free Report) , and AbbVie (ABBV - Free Report) all on the docket to report.
Both CMG and V shares have delivered strong gains year-to-date, whereas ABBV shares have faced selling pressure.
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3 Non-Tech Reports to Watch This Week
Earnings season is rapidly picking up pace, with a wide variety of companies scheduled to unveil quarterly results this week.
And next week, we’ll have an even bigger slate.
On the minds of many this week is big tech earnings, with several heavyweights slated to report.
While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill (CMG - Free Report) , Visa (V - Free Report) , and AbbVie (ABBV - Free Report) .
Let’s take a closer look at each.
Chipotle: July 26th
Chipotle shares have enjoyed strong price action in 2023, up 50% year-to-date. Analysts have raised their earnings expectations for the company, helping land the stock into a favorable Zacks Rank #2 (Buy).
The revisions trend has been notably positive for the quarter to be reported, with the $12.25 per share estimate up more than 2% since the end of April. The estimate reflects a solid 31% jump in earnings from the year-ago quarter.
Image Source: Zacks Investment Research
Our consensus revenue estimate presently stands at $2.5 billion, suggesting nearly 15% growth year-over-year. Analysts have slightly raised their top line expectations over the last several months, with the quarterly sales estimate up 0.4%.
CMG posted better-than-expected results in its latest quarter, exceeding the Zacks Consensus EPS estimate by nearly 20% and posting a modest revenue surprise. It’s worth noting that the results snapped a streak of negative surprises, helping send CMG shares soaring post-earnings.
Image Source: Zacks Investment Research
Visa: July 25th
Financial titan Visa has consistently been an earnings performer, chaining together 13 consecutive double-beats. In its latest release, the company posted a 6% bottom line beat and reported sales 3% above expectations.
The company’s revenue growth has remained steady, as shown below.
Image Source: Zacks Investment Research
Analysts haven’t had much to say regarding the upcoming release, with the $2.11 per share estimate up a fractional 0.5% since the end of April. Still, the company is forecasted to see solid growth, with estimates implying 7% earnings growth on 11% higher revenues.
Market participants will likely put focus on Visa’s Total Payment Volume (TPV), a critical metric for the company’s success. The Zacks Consensus estimate for TPV presently implies growth of 7% from the same period last year.
Visa bounced back and positively surprised on TPV in its latest release following three consecutive misses, exceeding the Zacks Consensus estimate by roughly 1%.
Image Source: Zacks Investment Research
AbbVie: July 27th
AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Analysts have taken their earnings expectations lower for the quarter to be reported, with the $2.78 per share estimate down nearly 3% since the end of April.
The company’s earnings are expected to decline, with the estimate reflecting a pullback of 17% year-over-year.
Image Source: Zacks Investment Research
However, analysts have shown some positivity regarding the top line, with the $13.5 billion quarterly revenue estimate being moved 1% higher over the last few months. Sales are forecasted to decline alongside earnings, with the estimate suggesting a 7% pullback within the top line.
Image Source: Zacks Investment Research
Bottom Line
It’s not just all about tech earnings this week, with the likes of Chipotle Mexican Grill (CMG - Free Report) , Visa (V - Free Report) , and AbbVie (ABBV - Free Report) all on the docket to report.
Both CMG and V shares have delivered strong gains year-to-date, whereas ABBV shares have faced selling pressure.