Looking to the companies reporting this week, and there are a mix of names we have picked out across the sectors. With U.S. earnings season largely coming to a close, there are fewer names to watch Stateside. With interest in Chinese stocks increasing after an early year rally, we also take a look at some of the major stocks reporting in the East.
The fresh week kicks off with a deal to fund the U.S Government secured for the next 6 months, and tariffs once again likely to dominate. Eyes will also no doubt be turning to Nvidia's GTC AI Conference (taking place March 17–21) for clues on some of the developments coming out of mega-cap and tech.
With the QQQ ETF indicating the Nasdaq 100 starting the week relatively stable, after another week in the red (-0.62%), the pace of decline slowed significantly. Only a few short weeks ago, the major indices were making fresh highs, and a pullback can certainly be considered healthy after what has been a very strong couple of years. The index remains in correction territory, although Friday offered a boost to the bulls, with both the Nasdaq and the S&P 500 bringing the week to a close with more than 2% in gains.
Let's take a closer look at what markets are expecting in the week ahead.
| Company | Ticker | Reporting | EPS Expected ($) | Revenue Expected ($) |
|---|---|---|---|---|
| Getty Images | GETY | 17/03 After | 0.06 | 246.31M |
| XPeng | XPEV | 18/03 Before | CN¥ -1.45 | CN¥ 16.15B |
| Tencent | TCEHY | 18/03 Before | CN¥ 5.85 | CN¥ 168.43B |
| General Mills | GIS | 19/03 Before | 0.97 | 4.95B |
| PDD Holdings | PDD | 19/03 Before | CN¥ 19.67 | CN¥ 115.77B |
| Nike | NKE | 20/03 After | 0.27 | 11.01B |
| Micron | MU | 20/03 After | 1.43 | 7.92B |
| Fedex | FDX | 20/03 After | 4.64 | 21.89B |
| Nio | NIO | 21/03 Before | CN¥ -2.36 | CN¥ 20.19B |
Monday
Getty Images (GETY) – Reporting After Market Close:
- Expected Results: EPS Expected: $0.06, Revenue Expected: $246.31M
- Previous Quarter Highlights:
- Previous EPS Expected: $0.04 vs. Previous EPS Actual: $0.01 (Miss)
- Previous Revenue Expected: $238.56M vs. Previous Revenue Actual: $240.54M (Beat)
Getty Images has disappointed with earnings in 2024, with substantial misses on EPS in each of the reports so far. Analysts are expecting a slight improvement this quarter, but the company’s track record of misses raises some concerns for future performance.
Tuesday
XPeng (XPEV) – Reporting Tuesday Pre Market:
- Expected Results: EPS Expected: CN¥ -1.45, Revenue Expected: CN¥ 16.15B
- Previous Quarter Highlights:
- Previous EPS Expected: CN¥ -0.72 vs. Previous EPS Actual: CN¥ -1.62 (Miss)
- Previous Revenue Expected: CN¥ 10.17B vs. Previous Revenue Actual: CN¥ 10.10B (Miss)
XPeng has struggled with EPS misses, notably missing by 125% in the previous quarter. However, its three earnings reports leading into the most recent has shown outperformance, with three EPS beats, creating a more optimistic outlook. Investors will be looking for a return to form as the company looks to stabilise its performance.
Tencent (TCEHY) – Reporting Tuesday Pre Market:
- Expected Results: EPS Expected: CN¥5.85, Revenue Expected: CN¥ 168.43B
- Previous Quarter Highlights:
- Previous EPS Expected: CN¥6.33 vs. Previous EPS Actual: CN¥6.34 (Beat)
- Previous Revenue Expected: CN¥ 167.64B vs. Previous Revenue Actual: CN¥ 167.19B (Miss)
Tencent has demonstrated strong performance, beating EPS expectations in the last four reports. Despite a slight revenue miss last quarter, the company’s consistent ability to surpass earnings estimates has built investor confidence heading into this report.
Wednesday
General Mills (GIS) – Reporting Before Market Open:
- Expected Results: EPS Expected: $0.97, Revenue Expected: $4.95B
- Previous Quarter Highlights:
- Previous EPS Expected: $1.22 vs. Previous EPS Actual: $1.40 (Beat)
- Previous Revenue Expected: $5.14B vs. Previous Revenue Actual: $5.24B (Beat)
General Mills has been on a strong upward trajectory with four consecutive EPS beats. Despite a small decline in EPS expectations this quarter, the company’s consistent performance suggests it could continue to surpass expectations, making it a strong earnings report to watch.
Thursday
PDD Holdings (PDD)– Reporting Before Market Open
- Expected Results: EPS Expected: CN¥ 19.67, Revenue Expected: CN¥ 115.77B
- Previous Quarter Highlights:
- Previous EPS Expected: CN¥ 19.67 vs. Previous EPS Actual: CN¥ 18.59 (Miss)
- Previous Revenue Expected: CN¥ 103.62B vs. Previous Revenue Actual: CN¥ 99.35B (Miss)
PDD Holdings had a significant earnings beat of nearly 100% in March 2024, but its previous two reports had misses on both EPS and revenue. With expectations high, the company’s ability to deliver positive results after a rough last quarter is crucial.
Nike (NKE) – Reporting After Market Closing Bell
- Expected Results: EPS: $0.27, Revenue $11.01B
- Previous Quarter Highlights:
- EPS: Expected $0.63 vs. Actual $0.78 (Beat)
- Revenue: Expected $12.11B vs. Actual $12.35B (Beat)
Nike’s strong performance over the last four quarters has made it one of the standout performers in the market. The company has consistently beaten EPS expectations, and it will be interesting to see if it can maintain its positive trend despite expectations being lower for this quarter.
Micron Technology (MU) – Reporting After Market Closing Bell
- Expected Results: EPS: $1.43, Revenue $7.92B
- Previous Quarter Highlights:
- EPS: Expected $1.77 vs. Actual $1.79 (Beat)
- Revenue: Expected $8.70B vs. Actual $8.71B (Beat)
Micron has demonstrated exceptional performance in 2024, with an impressive 273.75% EPS beat in February 2024. The company’s upbeat earnings have continued, and it remains to be seen whether it can keep this momentum going despite a slight drop in EPS expectations this quarter.
FedEx (FDX)– Reporting After Market Closing Bell
- Expected Results: EPS: $4.64, Revenue $21.89B
- Previous Quarter Highlights:
- EPS: Expected $3.97 vs. Actual $$4.05 (Beat)
- Revenue: Expected $22.09B vs. Actual $21.97B (Beat)
FedEx had a narrow beat in its last EPS report but showed signs of disappointment in August 2024. Despite this, it has demonstrated strong results in past quarters. The outlook for this report is positive, but analysts will closely watch for any indications of slowdowns or challenges in their business model.
Friday
Nio (NIO)– Reporting Before Market Open
- Expected Results: EPS Expected: CN¥ 2.36, Revenue Expected: CN¥ 20.19B
- Previous Quarter Highlights:
- Previous EPS Expected: CN¥ 2.19 vs. Previous EPS Actual: CN¥ 2.14 (Beat)
- Previous Revenue Expected: CN¥ 19.10B vs. Previous Revenue Actual: CN¥ 18.67B (Miss)
Nio’s previous quarter showed a narrow EPS beat, though revenue was missed. Despite mixed performance in recent earnings, the company has shown strong EPS results in March 2024, giving investors hope for a more positive outcome in this upcoming report.
