This week brings a slate of important earnings releases across various sectors. Here's what to expect and the key indicators investors should focus on for each company.
Tuesday, August 13th
Home Depot (HD) - ★★★★
Ranked #41 in Q3 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $4.52
Key Things To Watch: Same-store sales growth, Professional customer segment performance, Impact of interest rates on big-ticket purchases, Guidance on housing market trends
MSG Sports (MSGS) - ★★
Ranked #79 in Q3 2024 SMID Cap Equity Rankings
Earnings per share (EPS) estimate: $0.11
Key Things To Watch: Revenue from ticket sales and sponsorships, Impact of media rights deals, Performance of Madison Square Garden arena
Wednesday, August 14th
UBS (UBS) - ★★★★
Ranked #39 in Q3 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $0.29
Key Things To Watch: Progress on Credit Suisse integration, Wealth management inflows, Trading revenue, Cost-cutting measures
Cisco Systems (CSCO) - ★★★
Ranked #66 in Q3 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $0.85
Key Things To Watch: Enterprise and data center segment performance, Recurring revenue growth from software and subscriptions, Supply chain challenges, guidance on AI-related opportunities
Thursday, August 15th
Walmart (WMT) - ★★★★
Ranked #27 in Q3 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $0.64
Key Things To Watch: Same-store sales growth, E-commerce performance, Grocery sales trends, Impact of inflation on consumer spending
Ross Stores (ROST) - ★★★★
Ranked #24 in Q3 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $1.50
Key Things To Watch: Comparable store sales growth, Inventory levels and turnover, New store openings, Margins and pricing strategies
A Look Back
From Ride-Hailing to Self-Driving: Uber's Q2 Success Story
Uber (UBER) - ★★★
Ranked #82 in Q3 2024 Large Cap Equity Rankings
Uber Technologies (UBER) saw its stock price jump 12% during trading today to the $65 range following the release of its second-quarter earnings report. The ride-hailing and delivery giant exceeded Wall Street expectations, demonstrating robust growth across key metrics.
For the quarter ending June 30th, Uber reported revenue of $10.7 billion, representing a 16% year-over-year increase. This figure surpassed the consensus estimate of $10.57 billion from LSEG (formerly known as Refinitiv).
A standout feature of Uber's Q2 performance was the significant growth in its autonomous ride segment. The company reported a sixfold increase in self-driving trips, facilitated through partnerships with ten different companies across various sectors.
The strong quarterly results and Uber's continued innovation in autonomous driving technology appear to have boosted investor confidence, resulting in today's significant stock price increase.
Shopify Stock Rallies: Is This the Turning Point Investors Were Waiting For?
Shopify (SHOP) - ★★★★
Ranked #10 in Q3 Large Cap Equity Rankings
Shopify (SHOP) Stock Update
SHOP up 22% in early morning trading today
Recent performance:
Down 66% over last 6 months (from $90 in Feb 2024 to $54 yesterday)
Still down 12% YTD as of early trading
Today's surge may signal a turning point
Our outlook:
Positive in the intermediate term
★★★★ rating
Ranked #10 in our Q3 Large Cap Equity Rankings (released last month)
Q2 2024 earnings highlights: This strong earnings report likely driving today's stock performance
Revenue: $2.05 billion (21% Y/Y growth)
Beat analyst consensus of $2.01 billion
25% Y/Y growth when adjusting for sale of logistics businesses
Despite recent underperformance, today's surge aligns with our positive outlook. We'll continue monitoring SHOP for potential trend reversal.
Sweetgreen Stock Jumps 27% on Q3 Results, Up 191% Year-to-Date
Sweetgreen (SG) - ★★
Ranked #73 in Q3 2024 SMID Cap Equity Rankings
Sweetgreen (NYSE: SG) saw its stock price soar 27% during intraday trading following the release of its impressive third-quarter earnings report. The salad chain's shares are now trading in the $33 range, just 10% shy of its 52-week high of $36.72. This latest surge contributes to Sweetgreen's remarkable year-to-date performance, with the stock up an astounding 191%.
The company reported robust financial results that exceeded market expectations. Revenue for the quarter jumped 21% year-over-year to $184.6 million, surpassing the consensus estimate of $180.78 million. This growth was primarily driven by the addition of 36 net new restaurant openings since the same period last year, which contributed an extra $18.2 million to the top line.
source: TradingView
Same-store sales growth was also strong, increasing by 9% compared to the previous year. This uptick was attributed to a 5% boost from menu price hikes implemented after June 25, 2023, coupled with a 4% rise due to higher traffic and a favorable product mix. The company's average unit volume (AUV), as adjusted, reached $2.9 million.
The strong performance and positive market reaction highlight Sweetgreen's continued expansion and ability to attract customers despite inflationary pressures. As the company continues to grow its restaurant footprint and optimize its digital channels, investors will be watching closely to see if this momentum can be sustained in the coming quarters.
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