Blog Archive

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Only One S&P 500 Sector’s Core Earnings Improved This Year

The COVID-19-induced economic downturn wiped out eight quarters of core earnings growth in just two quarters, as I highlighted in “S&P 500 Peaks As Earnings Trough.” This report focuses on the core earnings of each S&P 500 sector to narrow in on where the most damage was done.

My firm’s measure of core earnings leverages cutting-edge technology to provide clients with a cleaner and more comprehensive view of earnings[1]. Investors armed with this measure of core earnings have a differentiated and more informed view of the fundamentals of companies and sectors.

Within the S&P 500, only the Technology sector saw a rise in core earnings since the end of 2019, as the shift to work-from-home drove growth in many technology companies.

Rankings the Sectors by Core Earnings Growth

Figure 1 ranks

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Technology
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Square’s (SQ) Q2 Earnings and Revenues Surpass Estimates

Square, Inc. SQ reported second-quarter 2020 adjusted earnings of 18 cents per share, against the Zacks Consensus Estimate of a loss of 8 cents per share. Notably, the company had reported earnings of 21 cents in the year-ago quarter and aloss of 2 cents in the prior quarter.

Net revenues of $1.92 billion surpassed the Zacks Consensus Estimate of $1.14 billion.Further, the figure improved 63.8% from the year-ago quarter and 39.3% sequentially.

The top line was driven by strong momentum across Cash App ecosystem that contributed $1.2 billion to net revenues during the reported quarter, up 361% year over year. Cash App was used by above 30 million monthly transacting active customers in June 2020. Further, disbursements of the CARES Act stimulus programs and unemployment benefits aided growth in the Cash App engagement.

Moreover, strengthening momentum across Bitcoin and strong adoption of Cash Card benefited the results. Notably, Cash Card

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Technology
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Edited Transcript of CHGG.N earnings conference call or presentation 3-Aug-20 8:30pm GMT

Santa Clara Aug 4, 2020 (Thomson StreetEvents) — Edited Transcript of Chegg Inc earnings conference call or presentation Monday, August 3, 2020 at 8:30:00pm GMT

* Andrew J. Brown

Chegg, Inc. – CFO

Chegg, Inc. – Co-Chairman, CEO & President

Chegg, Inc. – VP of IR

Joh. Berenberg, Gossler & Co. KG, Research Division – Analyst

Lake Street Capital Markets, LLC, Research Division – Head of Research & Senior Research Analyst

Northland Capital Markets, Research Division – Senior Research Analyst & Head of Equity Research

Greetings and welcome to Chegg, Inc. Second Quarter 2020 Earnings Conference Call. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Tracey Ford, Vice President of Investor Relations for Chegg. Thank you. You may begin.

Tracey Ford, Chegg, Inc. – VP of IR [2]

Good afternoon. Thank you for joining Chegg’s Second Quarter 2020 Conference … Read More

Internet
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DISH Network (DISH) to Report Q2 Earnings: What’s in Store?

DISH Network’s DISH second-quarter 2020 results are expected to reflect the negative impact of persistent subscriber loss due to stiff competition and cord-cutting in the Pay-TV industry.

For the quarter, the Zacks Consensus Estimate for revenues currently stands at $3.10 billion, suggesting a 3.4% dip from the figure reported in the year-ago quarter.

Moreover, the consensus mark for second-quarter earnings has increased by 3.6% to 57 cents over the past 30 days, indicating a decline of 5% from the year-ago quarter’s reported figure.

Notably, the company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing the same in the other two, the average negative surprise being 15.8%.

DISH Network Corporation Price and EPS Surprise

DISH Network Corporation Price and EPS Surprise
DISH Network Corporation Price and EPS Surprise

DISH Network Corporation price-eps-surprise | DISH Network Corporation Quote

Let’s see how things are shaping up for this announcement.

Factors to Consider

DISH’s

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Programming
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The Market Has Been Ignoring These Points About Netflix’s Earnings

Netflix, Inc.’s (NASDAQ:NFLX) stock has already appreciated more than 40% during the course of 2020. The streaming services sector has been booming ever since the beginning of the Covid-19 crisis, with both government and self-imposed quarantines resulting in huge subscriber jumps for various service-providers like Netflix.

However, the company’s most recent quarterly result, particularly the guidance, managed to disappoint the market and make the stock fall more than 5%.

There has been some recovery in the stock price, and in my opinion, the market continues to underestimate the future impact of two critical factors on Netflix’s business: the consistently rising indirect expenses, which are conveniently shielded by the reduced marketing costs in this quarter, and the strong currency impact on the company’s top-line. There are also some concerns associated with strong competitive threats leading to a slower future growth as well, and it remains to be seen how the Netflix

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Internet
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Kiplinger’s Weekly Earnings Calendar (7/27-7/31): AAPL, AMZN, FB

Below is a weekly earnings calendar of the most important upcoming quarterly reports schedule to be released by publicly traded companies. There are also earnings previews for select companies. Please check back often. This earnings calendar is updated weekly.

(Editor’s Note: Many earnings dates are tentative but may be moved due to coronavirus-related concerns. However, companies featured in “Earnings Spotlights” have officially announced their earnings dates.)

Earnings Calendar Highlights

MONDAY

Noteworthy Earnings Reports

Company Symbol

Earnings estimate
Albertsons ACI $1.31 per share
Avery Dennison AVY $1.11
Cincinnati Financial CINF $0.38
Diana Shipping DSX -$0.09
F5 Networks FFIV $2.03
Forterra FRTA $0.22
Hasbro HAS $0.22
Legg Mason LM $0.64
OneMain Holdings OMF $0.18
SAP SAP $1.27

TUESDAY

Noteworthy Earnings Reports

Company Symbol

Earnings estimate
3M MMM $1.80 per share
Advanced Micro Devices AMD $0.16
Aflac AFL $1.04
Akamai Technologies AKAM $1.22
Altria Group MO $1.06
Amgen AMGN $3.28
Avis Budget CAR
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Technology
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Is the Earnings Improvement for Real?

Thursday, July 23, 2020

The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily provides a real-time scorecard of the ongoing Q2 earnings season and emerging signs of stabilization and improvement in the overall earnings picture. Our core strength in earnings data and analytics allows us to identify these trend shifts in real time and share them with our readers. 

As is always the case, today’s daily features new research reports on 16 major stocks, including Johnson & Johnson (JNJ), SAP SE (SAP) and McDonalds (MCD). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Q2 Earnings Season Scorecard

Total Q2 earnings for the 113 S&P 500 members (22.6% of the index) that have reported results are down -45.4% on

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Computer
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NETGEAR (NTGR) Q2 Earnings Beat Estimates, Revenues Up Y/Y

NETGEAR, Inc. NTGR delivered impressive second-quarter 2020 results, with the top and the bottom line surpassing the respective Zacks Consensus Estimate. Further, earnings and revenues increased significantly on a year-over-year basis despite coronavirus-induced turmoil.

Net Income

GAAP earnings from continuing operations in the reported quarter were $6 million or 20 cents per share compared with $0.8 million or 3 cents per share in the year-ago quarter. The year-over-year improvement was primarily driven by higher revenues.

Non-GAAP net income from continuing operations was $16.3 million or 54 cents per share compared with $8.9 million or 28 cents per share in the year-earlier quarter. The bottom line beat the Zacks Consensus Estimate by 31 cents.

NETGEAR, Inc. Price, Consensus and EPS Surprise

NETGEAR, Inc. Price, Consensus and EPS Surprise

NETGEAR, Inc. price-consensus-eps-surprise-chart | NETGEAR, Inc. Quote

Revenues

NETGEAR generated net revenues of $280.1 million, up 21.3% year over year driven by

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Technology
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3 Hot Tech Stocks to Buy After Solid Earnings

Tech sector earnings are entering their heaviest period and there’s sure to be much to say about them. One thing’s for sure, this should be a big quarter for many players because a truly large number of companies have benefited from the pandemic-induced changes in behavior. In this blog, I’ve highlighted results for three companies and said why these stocks are worth picking up-

ASML Holding N.V. ASML

ASML is a leading provider of advanced technology systems for all the major global semiconductor manufacturers. It designs, develops, integrates, markets and services these advanced systems so customers can make integrated circuits for application across electronic, communications and other information technology markets.

Headline numbers for the June quarter: Earnings of $1.97 topped the Zacks Consensus Estimate of $1.89. Revenue of $3.66 billion was also ahead of the estimated $3.54 billion.

Highlights of the quarter: The transition to EUV tools that

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Application
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5 Things to Look Out for in Energy Earnings This Season

The second-quarter earnings season for Oils-Energy got underway today with oilfield service giant Halliburton HAL reporting results. Collapsing commodity prices and demand are likely to have played foul on the sector’s top and bottom lines with negative growth expected on both fronts. While things started getting bad toward the end of the first quarter, the full impact of the coronavirus pandemic and the oil price slump may only have been felt in the April-June period when crude plunged into negative territory briefly. Amid expectations of dismal data, investors will also be looking for early signs of a rebound for the remainder of 2020.

Over the next month or so, as we make our way through the earnings deluge, here are five things to look for:

Comparison With the Year-Ago Period:

According to the U.S. Energy Information Administration, in April, May and June of 2019, the average monthly WTI crude price

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Technology