For Immediate Release
Chicago, IL – Jun 25, 2018 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Lennar (LEN - Free Report) , KB Home (KBH - Free Report) , General Mills (GIS - Free Report) , Nike (NKE - Free Report) and Accenture (ACN - Free Report) .
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Has Earnings Growth Peaked Already?
We still have a few more weeks to go before the big banks start reporting June-quarter results. But the Q2 reporting cycle has (officially) gotten underway, with results from 9 S&P 500 members already out. All of these early earnings releases are from companies that have fiscal quarters ending in May, but these get counted as part of the June-quarter tally.
We have another 11 index members with fiscal quarters ending in May on deck to report results this week. All in all, we will have seen such Q2 results from almost two dozen S&P 500 members by the time JPMorgan, Citigroup and Wells Fargo (unofficially) kick-off this earnings season on July 13th.
The notable earnings reports coming out this week include:
Lennar reports on Tuesday (6/26) before the market’s open, with the homebuilder expected to earn $0.45 per share in earnings on $5.23 billion in revenues, which compares to $0.91 per share on $3.26 billion in revenues in the year-earlier period. The stock was up big following the last earnings release, but overall it has been a tough period for Lennar shares as well as the broader homebuilder space.
Lennar shares are currently trading close to 52-week lows and are now down -18.8% since the start of the year, underperforming the Zacks Construction sector’s -8.1% year-to-date decline vs. the S&P 500 index’s +4% gain. KB Home which is scheduled to report results Thursday morning (06/28) is down even more than Lennar (down -19.9% YTD).
General Mills reports on Wednesday (6/27) morning, with the company expected to earn $0.75 per share on $3.91 billion in revenues, which compares to $0.73 per share on $3.81 billion in revenues in the year-earlier period. Estimates have come down a bit in recent days and the stock has lost ground following each of the last two earnings reports. The stock was down big in the run up to and the day of the last earning release on March 21st and has essentially remained flat since then. General Mills shares are currently down -22.3% since the start of the year, underperforming the struggling Consumer Staples sector’s -10.3% year-to-date decline.
Nike reports after the market’s close on Thursday (6/28), with the company expected to earn $0.64 in EPS on $9.39 billion in revenues, which compares to $0.60 EPS on $8.68 billion in revenues in the year-earlier period. The stock was down following each of the last three earning releases, but has been an impressive performer this year, outperforming the Zacks Consumer Discretionary sector as well as the broader market. Nike shares are currently trading close to their 52-high and are up +18.6% vs. the Consumer Discretionary sector’s +4.7% year-to-date period.
Accenture will report before the market’s open on Thursday (6/28), with the company expected to earn $1.71 per share in earnings on $10.02 billion in revenues, up +12.5% and +13% from the year-earlier period, respectively. Accenture has been spotlighting its opportunity in the digital, cloud and security areas in recent quarters and revenues from those areas should show strong momentum in this release as well.
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