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As we wrap up our first busy week of Q3 earnings season, investors have to be feeling pretty good about the results so far. Less-than-impressive banking results were overshadowed by solid earnings growth throughout the S&P 500, with plenty of estimate beats to go around.
Total earnings for the 52 S&P 500 members that have reported already are up 13.3%, while revenues gained 6.9%. About 77% of these companies have surpassed EPS estimates, and 73% beat revenue estimates.
Next week will mark our busiest period for marquee reports, with 180 S&P 500 companies scheduled to announce their latest results. Earnings growth is expected to continue, which should make investors excited.
For more on what investors should expect from Q3 earnings, check out our exclusive Earnings Trends report. This full report includes a variety of key historical results, as well as estimates for the current and upcoming periods.
And as earnings season continues to heat up, investors should also remember that they can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.
Today, we’ve made that task even easier for you. Using the Earnings Calendar, we looked ahead to next week and selected the biggest reports to watch. Make sure to keep an eye on these companies as they prepare to report during the week of October 23.
Struggling fast-casual restaurant chain Chipotle Mexican Grill is slated to release its third-quarter earnings results after the closing bell on October 24. The company has met or surpassed estimates in three-straight quarters, but profits have yet to return to their pre-food safety scandal levels, and Chipotle’s momentum has all but vanished.
According to our latest consensus estimates, Chipotle is expected to post earnings of $1.60 per share and revenues of $1.14 billion. These results would represent year-over-year growth of 102% and 10%, respectively. However, these growth rates are lifted by Chipotle’s weak fiscal 2016. Headed into the report, estimates have been slipping, and the stock is currently a Zacks Rank #5 (Strong Sell).
Aerospace giant Boeing is scheduled to announce its latest quarterly results before the market opens on October 25. Boeing has met or surpassed the Zacks Consensus Estimate in five consecutive quarters, and with shares up more than 66% year-to-date, investors know that BA has been one of the industry’s hottest stocks.
Based on our latest consensus estimates, we expect to see Boeing report earnings of $2.66 per share and revenues of $24.06 billion. This would mark a year-over-slump of 24% in profits, while this sales figures would represent a marginal gain of 0.7%. Still, the company is a Zacks Rank #2 (Buy) right now, and its diversified defense business should continue to pad results.
E-commerce behemoth Amazon is slated to release its third-quarter earnings report after the market closes on October 26. After starting the year on fire, shares have hit a lull since the company’s massive earnings miss last quarter, but investors can rest assured that this report will dominate headlines for days.
According to our latest consensus estimates, Amazon is expected to report a loss of 2 cents per share and revenues of $41.97 billion. This would represent sales growth of 28% but an EPS slump of nearly 104%. Some investors may be concerned about Amazon’s short-term spending, but Wall Street will likely react to the company’s growth in key divisions like Amazon Web Services.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>
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Upcoming Earnings Reports to Watch: CMG, BA, AMZN
As we wrap up our first busy week of Q3 earnings season, investors have to be feeling pretty good about the results so far. Less-than-impressive banking results were overshadowed by solid earnings growth throughout the S&P 500, with plenty of estimate beats to go around.
Total earnings for the 52 S&P 500 members that have reported already are up 13.3%, while revenues gained 6.9%. About 77% of these companies have surpassed EPS estimates, and 73% beat revenue estimates.
Next week will mark our busiest period for marquee reports, with 180 S&P 500 companies scheduled to announce their latest results. Earnings growth is expected to continue, which should make investors excited.
For more on what investors should expect from Q3 earnings, check out our exclusive Earnings Trends report. This full report includes a variety of key historical results, as well as estimates for the current and upcoming periods.
And as earnings season continues to heat up, investors should also remember that they can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.
Today, we’ve made that task even easier for you. Using the Earnings Calendar, we looked ahead to next week and selected the biggest reports to watch. Make sure to keep an eye on these companies as they prepare to report during the week of October 23.
1. Chipotle Mexican Grill (CMG - Free Report)
Struggling fast-casual restaurant chain Chipotle Mexican Grill is slated to release its third-quarter earnings results after the closing bell on October 24. The company has met or surpassed estimates in three-straight quarters, but profits have yet to return to their pre-food safety scandal levels, and Chipotle’s momentum has all but vanished.
According to our latest consensus estimates, Chipotle is expected to post earnings of $1.60 per share and revenues of $1.14 billion. These results would represent year-over-year growth of 102% and 10%, respectively. However, these growth rates are lifted by Chipotle’s weak fiscal 2016. Headed into the report, estimates have been slipping, and the stock is currently a Zacks Rank #5 (Strong Sell).
2. The Boeing Company (BA - Free Report)
Aerospace giant Boeing is scheduled to announce its latest quarterly results before the market opens on October 25. Boeing has met or surpassed the Zacks Consensus Estimate in five consecutive quarters, and with shares up more than 66% year-to-date, investors know that BA has been one of the industry’s hottest stocks.
Based on our latest consensus estimates, we expect to see Boeing report earnings of $2.66 per share and revenues of $24.06 billion. This would mark a year-over-slump of 24% in profits, while this sales figures would represent a marginal gain of 0.7%. Still, the company is a Zacks Rank #2 (Buy) right now, and its diversified defense business should continue to pad results.
3. Amazon.com (AMZN - Free Report)
E-commerce behemoth Amazon is slated to release its third-quarter earnings report after the market closes on October 26. After starting the year on fire, shares have hit a lull since the company’s massive earnings miss last quarter, but investors can rest assured that this report will dominate headlines for days.
According to our latest consensus estimates, Amazon is expected to report a loss of 2 cents per share and revenues of $41.97 billion. This would represent sales growth of 28% but an EPS slump of nearly 104%. Some investors may be concerned about Amazon’s short-term spending, but Wall Street will likely react to the company’s growth in key divisions like Amazon Web Services.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>