Market Overview

Earnings Expectations for the Week of August 27

UPDATE: Tiffany's reported earnings just below expectations, but shares rallied.

Things will be pretty quiet on the earnings front this week leading into the Labor Day holiday, and as the calendar month winds down. Among the highest profile quarterly reports on the schedule are those from Tiffany & Co. (NYSE: TIF), Joy Global (NYSE: JOY) and SAIC (NYSE: SAI).

Tiffany & Co. gets things started early Monday morning. Second-quarter fiscal 2012 earnings from luxury goods retailer are forecast to come to $0.73 per share, while revenues totaled $890.8 million. That compares to the same quarter of last year when the company posted $0.86 per share and $872.7 million in sales. The consensus EPS estimate was $0.76 just 60 days ago. Tiffany fell short of EPS estimates in the previous two quarters; the earnings miss was a nickel per share in the first quarter.

Also on Monday, Chinese online game company Perfect World (NASDAQ: PWRD) and apparel maker PVH (NYSE: PVH) are expected to report year-over-year earnings growth.

Tuesday, poultry processor Sanderson Farms (NASDAQ: SAFM) is expected to say it swung to a profit from a year-ago loss.

Joy Global, the Milwaukee-based mining equipment maker, is expected to report Wednesday morning that its fiscal third quarter profit grew 14.3 percent year over year to $1.88 per share. That EPS estimate is the same as it was 60 days ago. Joy Global exceeded the consensus EPS estimate by more than 4 percent in the second quarter, but fell short in the two quarters before that. The company has averaged year-over-year revenue growth of about 34 percent over the last four quarters, and analysts on average expect revenue for the most recent quarter to total $1.42 billion. That would be a year-over-year increase of more than 25 percent.

Analysts anticipate that Greif (NYSE: GEF), a producer of containers and packaging products, will say Wednesday that its EPS declined year over year. But Oxford Industries (NYSE: OXM), like competitor of PVH, is expected to post higher earnings, and so is Brown-Forman (NYSE: BF-B), wine and spirits maker. Net losses are predicted for TiVo (NASDAQ: TIVO) and for Zale (NYSE: ZLC), a competitor to Tiffany & Co.

Analysts predict that technology services provider SAIC will say late Thursday that its fiscal second-quarter profit came to $0.33 per share, which is essentially flat compared to the same period of last year and a 5 percent drop from the previous quarter. SAIC topped consensus EPS estimates in two of the past four quarters, including a 6 percent beat in the first quarter. Revenues for the second quarter are forecast to total $2.65 billion, which would be about 2 percent higher than in the year-ago period.

Lift truck maker Cascade (NYSE: CASC) is expected to post higher EPS, but those from aerospace company Esterline Technologies (NYSE: ESL) are anticipated to have declined from a year ago. The consensus forecasts for Ciena (NASDAQ: CIEN) and China Sunenergy (NASDAQ: CSUN) call for a net loss.

Posted-In: Brown-Forman Cascade China SunenergyEarnings Long Ideas Short Ideas Previews Trading Ideas Best of Benzinga

 

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