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New York Times (NYT) to Report Q2 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 second-quarter 2023 numbers on Aug 8 before market open. The Zacks Consensus Estimate for revenues is pegged at $578.1 million, indicating an improvement of 4% from the prior-year reported figure.
The bottom line of this diversified media company is expected to have decreased year over year. Over the past 30 days, the Zacks Consensus Estimate for second-quarter earnings per share has been stable at 21 cents, suggesting a decline of 12.5% from the year-ago quarter.
The company has a trailing four-quarter earnings surprise of 28.2%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by a margin of 18.8%.
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.
On its last earnings call, management guided a year-over-year increase of about 6-8% in total subscription revenues and a surge of approximately 12-15% in digital-only subscription revenues for the second quarter of 2023. We expect total subscription revenues to increase 6.4% and digital-only subscription revenues to rise 12.9%.
The New York Times Company Price, Consensus and EPS Surprise
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 advertising revenues. For the second quarter, The New York Times Company had projected a year-over-year decline of about 4-8% in total advertising revenues and a low-to-mid-single-digit decline in digital advertising revenues. We expect a 3.7% and 7.9% decline in digital advertising and total advertising revenues, respectively.
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 second quarter. We expect the operating margin to shrink roughly 210 basis points.
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 #3 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:
Arhaus (ARHS - Free Report) currently has an Earnings ESP of +7.69% and a Zacks Rank #2. The company is expected to register a bottom-line decline when it reports second-quarter 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of 26 cents suggests a decrease of 7.1% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arhaus’ top line is anticipated to rise year over year. The consensus mark for revenues is pegged at $325.7 million, indicating an increase of 6.3% from the figure reported in the year-ago quarter. ARHS has a trailing four-quarter earnings surprise of 82.4%, on average.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and carries a Zacks Rank #2. The company is likely to register a bottom-line decrease when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a decline of 17.1% from the year-ago quarter.
Casey's General Stores’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.85 billion, which indicates a drop of 13.5% from the figure reported in the prior-year quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
Costco (COST - Free Report) currently has an Earnings ESP of +2.07% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports fourth-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.72 suggests a rise of 12.4% from the year-ago reported number.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $78.86 billion, which calls for an increase of 9.4% from the prior-year quarter. COST has a trailing four-quarter earnings surprise of 1.8%, on average.
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New York Times (NYT) to Report Q2 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 second-quarter 2023 numbers on Aug 8 before market open. The Zacks Consensus Estimate for revenues is pegged at $578.1 million, indicating an improvement of 4% from the prior-year reported figure.
The bottom line of this diversified media company is expected to have decreased year over year. Over the past 30 days, the Zacks Consensus Estimate for second-quarter earnings per share has been stable at 21 cents, suggesting a decline of 12.5% from the year-ago quarter.
The company has a trailing four-quarter earnings surprise of 28.2%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by a margin of 18.8%.
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.
On its last earnings call, management guided a year-over-year increase of about 6-8% in total subscription revenues and a surge of approximately 12-15% in digital-only subscription revenues for the second quarter of 2023. We expect total subscription revenues to increase 6.4% and digital-only subscription revenues to rise 12.9%.
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
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 advertising revenues. For the second quarter, The New York Times Company had projected a year-over-year decline of about 4-8% in total advertising revenues and a low-to-mid-single-digit decline in digital advertising revenues. We expect a 3.7% and 7.9% decline in digital advertising and total advertising revenues, respectively.
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 second quarter. We expect the operating margin to shrink roughly 210 basis points.
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 #3 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:
Arhaus (ARHS - Free Report) currently has an Earnings ESP of +7.69% and a Zacks Rank #2. The company is expected to register a bottom-line decline when it reports second-quarter 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of 26 cents suggests a decrease of 7.1% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arhaus’ top line is anticipated to rise year over year. The consensus mark for revenues is pegged at $325.7 million, indicating an increase of 6.3% from the figure reported in the year-ago quarter. ARHS has a trailing four-quarter earnings surprise of 82.4%, on average.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and carries a Zacks Rank #2. The company is likely to register a bottom-line decrease when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a decline of 17.1% from the year-ago quarter.
Casey's General Stores’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.85 billion, which indicates a drop of 13.5% from the figure reported in the prior-year quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
Costco (COST - Free Report) currently has an Earnings ESP of +2.07% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports fourth-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.72 suggests a rise of 12.4% from the year-ago reported number.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $78.86 billion, which calls for an increase of 9.4% from the prior-year quarter. COST has a trailing four-quarter earnings surprise of 1.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.