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FedEx, Oracle, CarMax, Paychex and JPMorgan are part of Zacks Earnings Preview
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For Immediate Release
Chicago, IL – December 21, 2020 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes FedEx Corporation (FDX - Free Report) , Oracle Corporation (ORCL - Free Report) , CarMax, Inc. (KMX - Free Report) , Paychex, Inc. (PAYX - Free Report) and JPMorgan Chase & Co. (JPM - Free Report) .
Q4 Earnings Season Preview
The overall earnings picture started improving in early July as big parts of the U.S. economy have started coming out of the pandemic-driven lockdown. We saw this improvement in the revisions trend, with earnings estimates steadily going up. Earnings growth in Q3 was still negative, but the decline was significantly smaller relative to what we had seen in Q2, which turned out to be the bottom.
This favorable revisions trend appears to have leveled off to some extent in recent weeks, likely reflecting the moderating effect of the fall and winter infection surge that has been showing up in recent economic readings. But with the vaccination exercise already underway and expected to gather pace in 2021, it is reasonable to envision the economic and earnings pictures resuming the earlier positive trend.
The consensus expectation is for total S&P 500 earnings to decline -11% in Q4 from the same period last year on essentially flat revenues. This would follow the -7% decline in Q3 and -32.2% decline in Q2 when economic and business activities came to a halt as a result of the pandemic driven lockdowns.
The Q4 earnings season will really get going when the big banks come out with results on January 15th. The wide majority of companies have fiscal quarters that correspond with the calendar quarters, which is December 31st for Q4.
But there are almost two dozen S&P 500 members that have fiscal quarters that ended in November and 9 such companies, including FedEx and Oracle have reported their fiscal November-quarter results in recent days. We and other data aggregators club the results from these 9 index members as part of the Q4 tally. We have a few more S&P 500 members on deck to report fiscal November-quarter results this week, including CarMax and Paychex.
Looked at this way, we will have counted almost two dozen such Q4 results before JPMorgan reports its quarterly results on January 15th.
For an in-depth look at the overall earnings picture and expectations for the coming quarters, please check out our weekly Earnings Trends report >>>> Looking at Q4 and 2021 Earnings
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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FedEx, Oracle, CarMax, Paychex and JPMorgan are part of Zacks Earnings Preview
For Immediate Release
Chicago, IL – December 21, 2020 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes FedEx Corporation (FDX - Free Report) , Oracle Corporation (ORCL - Free Report) , CarMax, Inc. (KMX - Free Report) , Paychex, Inc. (PAYX - Free Report) and JPMorgan Chase & Co. (JPM - Free Report) .
Q4 Earnings Season Preview
The overall earnings picture started improving in early July as big parts of the U.S. economy have started coming out of the pandemic-driven lockdown. We saw this improvement in the revisions trend, with earnings estimates steadily going up. Earnings growth in Q3 was still negative, but the decline was significantly smaller relative to what we had seen in Q2, which turned out to be the bottom.
This favorable revisions trend appears to have leveled off to some extent in recent weeks, likely reflecting the moderating effect of the fall and winter infection surge that has been showing up in recent economic readings. But with the vaccination exercise already underway and expected to gather pace in 2021, it is reasonable to envision the economic and earnings pictures resuming the earlier positive trend.
The consensus expectation is for total S&P 500 earnings to decline -11% in Q4 from the same period last year on essentially flat revenues. This would follow the -7% decline in Q3 and -32.2% decline in Q2 when economic and business activities came to a halt as a result of the pandemic driven lockdowns.
The Q4 earnings season will really get going when the big banks come out with results on January 15th. The wide majority of companies have fiscal quarters that correspond with the calendar quarters, which is December 31st for Q4.
But there are almost two dozen S&P 500 members that have fiscal quarters that ended in November and 9 such companies, including FedEx and Oracle have reported their fiscal November-quarter results in recent days. We and other data aggregators club the results from these 9 index members as part of the Q4 tally. We have a few more S&P 500 members on deck to report fiscal November-quarter results this week, including CarMax and Paychex.
Looked at this way, we will have counted almost two dozen such Q4 results before JPMorgan reports its quarterly results on January 15th.
For an in-depth look at the overall earnings picture and expectations for the coming quarters, please check out our weekly Earnings Trends report >>>> Looking at Q4 and 2021 Earnings
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.