Earnings Expectations for the Week of July 15
The earnings season ramps up this week, providing plenty of perspective on how the financial and technology sectors fared in the second quarter.
By and large, expectations are high, as analysts have forecast earnings growth for most of the S&P 500 components and other household names reporting this week, such as Coca-Cola (NYSE: KO), eBay (NASDAQ: EBAY) and Johnson & Johnson (NYSE: JNJ).
The following is a day-by-day rundown of what analysts expect from some of the most prominent of the week's many quarterly reports.
The day's highlight will be the second-quarter report from Citigroup (NYSE: C) before the markets open. Analysts are looking for revenue that rose about six percent to $19.79 billion and net income that is about 15 percent higher than a year ago and works out to $1.18 per share.
Coca-Cola (NYSE: KO) and Goldman Sachs (NYSE: GS) both step into the earnings spotlight Tuesday morning. The second-quarter earnings forecast for the former calls for $0.63 per share on revenue on $12.97 billion, compared with $0.61 per share and $13.08 billion in the year-ago period.
Analysts believe that Goldman Sachs will say that its per-share earnings came to $2.82, on $7.98 billion in revenue. That would be a handy gain from $1.78 per share and $6.63 billion in the same period of last year.
CSX (NYSE: SX) and Mosaic (NYSE: MOS) are expected to report annual earnings declines on Tuesday. But a rise in per-share earnings is anticipated from Johnson & Johnson (NYSE: JNJ) and from Yahoo! (NASDAQ: YHOO).
Wednesday's highlights will be reports from Bank of America (NYSE: BAC) and Intel (NYSE: INTC). They are projected to report per-share earnings of $0.25 and $0.39, respectively. That would be up 24 percent for the former but down more than 27 percent for the latter.
Bank of America revenue is expected to be up less than four percent year-over-year to $22.79 billion, while that of Intel is less than five percent lower to $12.89 billion. Look for Bank of America's report before the markets open, and Intel's later in the day.
Analysts are looking for earnings growth from American Express (NYSE: AXP), eBay (NASDAQ: EBAY), IBM (NYSE: IBM), SanDisk (NASDAQ: SNDK), St. Jude Medical (NYSE: STJ) and U.S. Bancorp (NYSE: USB). But Bank of New York Mellon (NYSE: BK) is expected to say that EPS were the same as a year ago.
Revenue at the former is expected to be up about 50 percent year-over-year to $14.42 billion. And analysts expect revenue of the latter to be about 15 percent higher to $20.77 billion.
The day's other anticipated earnings gainers include AutoNation (NYSE: AN), Capital One (NYSE: COF), Chipotle Mexican Grill (NYSE: CMG), Intuitive Surgical (NASDAQ: ISRG), Morgan Stanley (NYSE: MS), Philip Morris International (NYSE: PM), Safeway (NYSE: SWY) and Verizon Communications (NYSE: VZ).
But UnitedHealth Group (NYSE: UNH) is predicted to say that quarterly earnings declined, relative to a year ago. And Advanced Micro Devices (NYSE: AMD) is expected to post its fourth consecutive net loss.
First thing Friday morning, General Electric (NYSE: GE) is expected to report that EPS came to $0.36 in the second quarter, while revenue totaled $35.58 billion. That would be down from $0.38 per share and $36.50 billion in the same period of last year.
Honeywell International (NYSE: HON), Schlumberger (NYSE: SLB) and Whirlpool (NYSE: WHR) are also set to share their results at the end of the week. Analysts expect to see year-over-year EPS growth from all three.
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