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New York Times (NYT) Lined Up for Q1 Earnings: What's in Store?
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The New York Times Company (NYT - Free Report) is likely to register an increase in the top line when it reports first-quarter 2023 numbers on May 10 before market open. The Zacks Consensus Estimate for revenues is pegged at $564.4 million, indicating an improvement of 5% from the prior-year reported figure.
The Zacks Consensus Estimate for earnings per share is pegged at 16 cents. The consensus estimate has been stable over the past 30 days.
We expect The New York Times Company to generate revenues of $562.4 million, suggesting an increase of 4.7% year over year, and post earnings of 15 cents a share.
The company has a trailing four-quarter earnings surprise of 23.5%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by a margin of 34.1%.
Factors to Note
The New York Times Company has been diversifying the business, adding revenue streams, realigning the cost structure and streamlining operations to increase efficiency. The company’s business model, with a greater emphasis on subscription revenues, bodes well.
Moreover, it has been utilizing technological advancements to reach the target audience more effectively. Its acquisitions of the product review website, Wirecutter, and the digital subscription-based sports media business, The Athletic, have helped expand the addressable market.
The New York Times Company Price, Consensus and EPS Surprise
On its last earnings call, management guided a year-over-year increase of about 6-9% in total subscription revenues and a rise of approximately 13-16% in digital-only subscription revenues for the first quarter of 2023.
The New York Times Company has been making concerted efforts to lower its dependence on traditional advertising and focus on digitization. It has been diversifying the business, adding new revenue streams and streamlining operations to increase efficiencies. The company has not only been gearing up to become an optimum destination for news and information but also focusing on lifestyle products and services.
However, the current geopolitical and macroeconomic environment and a reduction in marketer spend on advertising might have weighed on digital advertising revenues. For the first quarter, The New York Times Company projected a low-single-digit decline in both digital advertising revenues and total advertising revenues.
Additionally, any deleverage in expenses related to product development, sales and marketing, as well as general and administrative, might have weighed on margins. The company had earlier forecast an increase of approximately 6-8% in adjusted operating costs for the first quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for The New York Times Company this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here.
The New York Times Company has a Zacks Rank #1 but an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Fox Corporation (FOXA - Free Report) currently has an Earnings ESP of +2.11% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports third-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly earnings per share of 88 cents suggests an increase of 8.6% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fox Corporation’s top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $4.05 billion, which suggests a rise of 17.1% from the figure reported in the prior-year quarter.
Burlington Stores (BURL - Free Report) currently has an Earnings ESP of +5.57% and a Zacks Rank #3. The company is likely to register a bottom-line increase when it reports first-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 94 cents suggests a rise of 74.1% from the year-ago quarter.
Burlington Stores’ top line is expected to increase year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.19 billion, which indicates a rise of 13.6% from the figure reported in the prior-year quarter. Burlington Stores has a trailing four-quarter earnings surprise of 7%, on average.
Walmart (WMT - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank #3. The company’s bottom line is expected to remain flat year over year when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly earnings per share is pegged at $1.30.
Walmart’s top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $148.5 billion, which suggests an increase of 4.9% from the figure reported in the prior-year quarter. WMT delivered an earnings beat of 6.5%, on average, in the trailing four quarters.
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New York Times (NYT) Lined Up for Q1 Earnings: What's in Store?
The New York Times Company (NYT - Free Report) is likely to register an increase in the top line when it reports first-quarter 2023 numbers on May 10 before market open. The Zacks Consensus Estimate for revenues is pegged at $564.4 million, indicating an improvement of 5% from the prior-year reported figure.
The Zacks Consensus Estimate for earnings per share is pegged at 16 cents. The consensus estimate has been stable over the past 30 days.
We expect The New York Times Company to generate revenues of $562.4 million, suggesting an increase of 4.7% year over year, and post earnings of 15 cents a share.
The company has a trailing four-quarter earnings surprise of 23.5%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by a margin of 34.1%.
Factors to Note
The New York Times Company has been diversifying the business, adding revenue streams, realigning the cost structure and streamlining operations to increase efficiency. The company’s business model, with a greater emphasis on subscription revenues, bodes well.
Moreover, it has been utilizing technological advancements to reach the target audience more effectively. Its acquisitions of the product review website, Wirecutter, and the digital subscription-based sports media business, The Athletic, have helped expand the addressable market.
The New York Times Company Price, Consensus and EPS Surprise
The New York Times Company price-consensus-eps-surprise-chart | The New York Times Company Quote
On its last earnings call, management guided a year-over-year increase of about 6-9% in total subscription revenues and a rise of approximately 13-16% in digital-only subscription revenues for the first quarter of 2023.
The New York Times Company has been making concerted efforts to lower its dependence on traditional advertising and focus on digitization. It has been diversifying the business, adding new revenue streams and streamlining operations to increase efficiencies. The company has not only been gearing up to become an optimum destination for news and information but also focusing on lifestyle products and services.
However, the current geopolitical and macroeconomic environment and a reduction in marketer spend on advertising might have weighed on digital advertising revenues. For the first quarter, The New York Times Company projected a low-single-digit decline in both digital advertising revenues and total advertising revenues.
Additionally, any deleverage in expenses related to product development, sales and marketing, as well as general and administrative, might have weighed on margins. The company had earlier forecast an increase of approximately 6-8% in adjusted operating costs for the first quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for The New York Times Company this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here.
The New York Times Company has a Zacks Rank #1 but an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Fox Corporation (FOXA - Free Report) currently has an Earnings ESP of +2.11% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports third-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly earnings per share of 88 cents suggests an increase of 8.6% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fox Corporation’s top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $4.05 billion, which suggests a rise of 17.1% from the figure reported in the prior-year quarter.
Burlington Stores (BURL - Free Report) currently has an Earnings ESP of +5.57% and a Zacks Rank #3. The company is likely to register a bottom-line increase when it reports first-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 94 cents suggests a rise of 74.1% from the year-ago quarter.
Burlington Stores’ top line is expected to increase year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.19 billion, which indicates a rise of 13.6% from the figure reported in the prior-year quarter. Burlington Stores has a trailing four-quarter earnings surprise of 7%, on average.
Walmart (WMT - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank #3. The company’s bottom line is expected to remain flat year over year when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly earnings per share is pegged at $1.30.
Walmart’s top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $148.5 billion, which suggests an increase of 4.9% from the figure reported in the prior-year quarter. WMT delivered an earnings beat of 6.5%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.