Earnings Expectations for the Week of October 8
The quarterly report from Alcoa (NYSE: AA) traditionally kicks off a new earnings season. Joining Alcoa on the earnings schedule this week are Costco Wholesale (NASDAQ: COST), J.P. Morgan Chase (NYSE: JPM), Safeway (NYSE: SWY), Wells Fargo (NYSE: WFC) and Yum! Brands (NYSE: YUM). Here is a look at what analysts expect to see from these reports.
Third-quarter 2012 earnings from this aluminum producer are forecast to come to just $0.01 per share, while revenues totaled $5.57 billion. In the same quarter of last year, the company beat EPS estimates when it posted $0.15 per share and $6.42 billion in sales. EPS estimates for the most recent quarter range from $0.11 per share to a net loss of $0.10 per share. But the forecast for the current quarter calls for sequential and year-over-year growth of both EPS and revenue. Alcoa steps into the earnings spotlight Tuesday after the markets close.
The fifth largest retailer in the United States is expected to report Wednesday morning that for its fourth quarter of fiscal 2012 it had earnings of $1.31 per share. That would be up more than 17 percent from the same period in the previous year. EPS fell short of the consensus estimate in only one of the past four quarters. Analysts on average expect fourth-quarter revenues to total $31.6 billion, which would be up from last year's reported figure of $28.18 billion. Costco is looking to build on four-straight revenue increases.
J.P. Morgan Chase
In its Friday morning report, the largest bank in the United States by assets is expected report earnings of $1.21 per share for its third quarter. That compares to a profit of $1.02 per share in the year-ago quarter, as well as a consensus EPS estimate of a $1.17 from 60 days ago. Analysts have underestimated J.P. Morgan's EPS in all but one of the past nine quarters. Third-quarter revenues are expected to total $24.46 billion, which would be marginally higher than a year ago. So far, the full-year forecast calls for EPS almost six percent higher but revenue down about two percent from a year ago.
Safeway is North America's second largest supermarket chain. The Pleasanton, California-based company is expected to report Thursday that third-quarter earnings rose more than 11 percent from the same period of last year to $0.43 per share. The consensus EPS estimate has not changed in the past 60 days. Revenue for the quarter is predicted to have inched up less than two percent to $10.24 billion. So far, analysts expect sequential and year-over-year growth of both revenue and per-share earnings in the current quarter.
Third-quarter 2012 earnings from this San Francisco-based multinational bank are forecast to come to $0.87 per share, while revenues totaled $ 21.45 billion. In the same quarter of last year, the company missed EPS estimates when it posted $0.72 per share and $19.63 billion in revenue. Note that year-ago earnings miss was the only one since 2008. So far the full-year forecast has EPS up about 15 percent and revenue more than five percent higher. Wells Fargo steps into the earnings spotlight Friday before the markets open.
Analysts predict that this fast-food restaurant operator will say Tuesday that it saw a profit of $0.97 per share in the third quarter. That would be up from $0.83 per share in the same period a year ago, and unchanged from the consensus EPS estimate of 60 days ago. The company fell short of EPS expectations in the second quarter by more than four percent, its first miss in five quarters. Revenues for the third quarter are expected to have risen more than 11 percent year-over-year to $3.64 billion. So far, the full-year forecast has EPS up about 12 percent and revenue about 10 percent higher.
Lighting maker Acuity Brands (NYSE: AYI), egg producer Cal-Maine Foods (NASDAQ: CALM), construction supplies company Fastenal (NASDAQ: FAST), consumer goods maker Helen of Troy (NASDAQ: HELE) and J.B. Hunt Transport (NASDAQ: JBHT) are expected to report earnings growth this week.
The new earnings season ramps up the following week, with reports due from American Express (NYSE: AXP), Bank of America (NYSE: BAC), Citigroup (NYSE: C), Coca-Cola (NYSE: KO), eBay (EBAY), General Electric (NYSE: GE), Goldman Sachs (NYSE: GS), Intel (NASDAQ: INTC), IBM (NYSE: IBM), Johnson & Johnson (NYSE: JNJ), McDonald's (NYSE: MCD), Microsoft (NASDAQ: MSFT), Southwest Airlines (NYSE: LUV) and many others.
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