As Wall Street embarks on the first full week of August, a diverse group of companies is set to report financial results. Notable names include The Walt Disney Company (NYSE:DIS), Palantir Technologies (NYSE:PLTR), Realty Income (NYSE:O), Shopify (NYSE:SHOP) and Uber Technologies (NYSE:UBER).
The tech sector will see reports from companies like Twilio (TWLO), Unity Software (NYSE:U) and Arista Networks (ANET), while the real estate sector will be represented by Simon Property Group (SPG), Medical Properties Trust (MPW) and Main Street Capital (MAIN).
Additionally, energy players like Devon Energy (DVN), Duke Energy (DUK), Occidental Petroleum (OXY), Energy Transfer LP (ET), Plug Power (PLUG), Suncor Energy (SU) and Petrobras (PBR) will disclose their results.
Other companies on the docket include Paramount Global (PARA), Eli Lilly (LLY), Lucid Group (LCID), Nikola (NKLA), Warner Bros. Discovery (WBD), Rivian Automotive (RIVN) and Beyond Meat (BYND).
Below is a rundown of major quarterly updates anticipated in the week of August 5–9:
Monday, August 5
Palantir Technologies (PLTR)
Palantir Technologies (PLTR) is gearing up to release its Q2 earnings report after market close on Monday. The market anticipates 63% EPS growth and an increase of 22% in revenue.
On a YTD basis, shares of this Denver-based software company have surged more than 50%. Meanwhile, the stock gets a Hold rating from both Wall Street analysts and Seeking Alpha’s Quant Rating system.
In mid-July, there was a divergence in analyst opinions on Palantir. Wedbush Securities analyst Dan Ives reaffirmed his bullish stance, maintaining an Outperform rating and a $35 price target. Ives even suggested a potential upside to $50 per share by 2025. Conversely, Mizuho analysts, led by Gregg Moskowitz, took a more cautious approach, downgrading the stock from Neutral to Underperform.
Seeking Alpha Investing Group leader Envision Research highlights that Palantir’s heavy reliance on government contracts has been a concern, but recent developments suggest it has reached a pivotal point. The company’s potential inclusion in the S&P 500 index could increase share demand and reduce price volatility, the analyst stated.
- Consensus EPS Estimates: $0.08
- Consensus Revenue Estimates: $652.42M
- Earnings Insight: The stock has beaten revenue expectations in 7 of the past 8 quarters, missing EPS estimates in 3 of those reports.
Also reporting: Realty Income (O), Plug Power (PLUG), Lucid Group (LCID), Simon Property Group (SPG), BioNTech SE (BNTX), The Williams Companies (WMB), Diamondback Energy (FANG), CSX Corporation (CSX), Tyson Foods (TSN), BioMarin Pharmaceutical (BMRN), BioCryst Pharmaceuticals (BCRX), Yum China Holdings (YUMC), Chegg (CHGG) and more.
Tuesday, August 6
Airbnb (ABNB)
Airbnb (ABNB) is scheduled to report earnings on Tuesday after the market closes, with analysts expecting profit to fall Y/Y.
A key topic for the Q2 earnings call may be Airbnb’s perspective on potential regulatory risks, particularly considering Barcelona’s decision not to renew tourist apartment licenses beyond 2028. Other European cities might follow suit.
Recently, UBS anticipated that Airbnb’s Q2 room nights could exceed guidance, potentially surpassing the previous quarter’s 9.5% year-over-year growth. UBS also sees potential for Airbnb to increase its take rate, which could significantly boost revenue with high incremental margins.
Meanwhile, SA contributor Gary Alexander views the recent stock pullback as a buying opportunity. He highlights the platform’s new features, strong booking and revenue growth, and rapidly expanding margins.
- Consensus EPS Estimates: $0.91
- Consensus Revenue Estimates: $2.74B
- Earnings Insight: Airbnb has beaten EPS and revenue expectations in 7 of the past 8 quarters.
Also reporting: Kenvue (KVUE), WK Kellogg (KLG), Reddit (RDDT), Seadrill Limited (SDRL), Caterpillar (CAT), Organon (OGN), Amgen (AMGN), Uber Technologies (UBER), Lumen Technologies (LUMN), Duke Energy (DUK), Upstart Holdings (UPST), Illumina (ILMN), Devon Energy (DVN), fuboTV (FUBO), Rivian Automotive (RIVN), Fortinet (FTNT), Wynn Resorts (WYNN), GoPro (GPRO), The Mosaic Company (MOS), Sunrun (RUN), Exelixis, (EXEL), Yum! Brands (YUM) and more.
Wednesday, August 7
The Walt Disney Company (DIS)
Disney (DIS) is scheduled to report its quarterly results on Wednesday before the opening bell. The entertainment giant’s shares have gained 3% YTD and have earned a Buy recommendation from Wall Street analysts. Meanwhile, Seeking Alpha’s Quant Rating system maintains a more conservative Hold stance.
Recent updates indicate that Walt Disney is planning to cut 140 jobs, or 2% of its TV division, at Disney Entertainment Television to cut costs. The cuts will disproportionately impact networks like Nat Geo, Freeform and ABC stations. Nat Geo will lose about 13% of its staff as part of the cuts.
SA Investing Group leader Howard Jay Klein suggests a Sell rating, arguing that Disney’s long-standing competitive advantage has diminished. He believes the company needs a refreshed market outlook and that holders expecting a return to previous highs may be disappointed.
On the other hand, Seeking Alpha author Oliver Rodzianko is bullish on Disney, viewing it as a short-term buy due to its profit strategies, including ad-supported tiers and subscription fee increases. Despite facing long-term challenges related to innovation and brand strength, Disney is expected to achieve a 12-month alpha. The company’s streaming services are aiming for profitability by 2024, and its parks and cruise investments are showing recovery post-COVID. Rodzianko finds Disney’s valuation attractive, with EPS growth estimates suggesting a potential stock price increase to $120 in the next 12 months and $170 by 2029.
- Consensus EPS Estimates: $1.19
- Consensus Revenue Estimates: $23.09B
- Earnings Insight: Disney has topped EPS expectations in 6 of the past 8 quarters, while revenue has beaten estimates in only 3 of those reports.
Shopify (SHOP)
Shopify (SHOP) is set to release its Q2 financial results before the market opens on Wednesday. Analysts are anticipating a robust performance, with profits projected to surge by approximately 44% Y/Y and revenue growth estimated at 19%.
In the days leading up to the earnings announcement, Seeking Alpha’s Quant Rating system has shifted its stance from Buy to Hold and back to Buy. Wall Street analysts currently have a consensus Buy rating.
In July, Bank of America upgraded Shopify to a Buy rating and raised its price target to $82, citing balanced growth and improved margins under new CFO Jeff Hoffmeister. Analyst Brad Sills forecasts strong revenue growth and free cash flow conversion, driven by robust e-commerce growth, steady market share gains, and disciplined expense management. The firm anticipates Shopify will continue to dominate the U.S. small business market and gain traction with new merchant solutions.
Seeking Alpha Investing Group leader JR Research recommends buying the stock, noting that Shopify’s forward PEG ratio indicates it is not overly expensive.
- Consensus EPS Estimates: $0.20
- Consensus Revenue Estimates: $2.01B
- Earnings Insight: Shopify has beaten EPS and revenue estimates in 7 of the past 8 quarters
Also reporting: Energy Transfer LP (ET), CVS Health (CVS), Occidental Petroleum (OXY), Virgin Galactic (SPCE), CRISPR Therapeutics (CRSP), Beyond Meat (BYND), Marathon Oil (MRO), Emerson Electric (EMR), Blink Charging (BLNK), SolarEdge Technologies (SEDG), Warner Bros. Discovery (WBD), Novo Nordisk A/S (NVO), Lyft (LYFT), McKesson (MCK), Robinhood Markets (HOOD) and more.
Thursday, August 8
Paramount Global (PARA)
Paramount Global (PARA) is set to release its Q2 results after the market closes on Thursday. The New York-based media giant has seen its stock decline by about 25% so far in 2024.
Sell-side analysts remain cautious, and Seeking Alpha’s Quant Rating system downgraded the stock to Hold just a week before the earnings announcement.
The pending merger with Skydance has introduced additional complexities, prompting SA author LM Investments to downgrade the stock from Buy to Hold. While the merger holds the potential for long-term value creation under new leadership, it also involves significant shareholder dilution, the analyst argued.
- Consensus EPS Estimates: $0.13
- Consensus Revenue Estimates: $7.24B
- Earnings Insight: Paramount Global (PARA) has beaten EPS estimates 5 times and revenue estimates in 3 of the past 8 quarters.
Also reporting: Viatris (VTRS), Gilead Sciences (GILD), The Trade Desk (TTD), Unity Software (U), Novavax (NVAX), Workhorse Group (WKHS), Eli Lilly (LLY), Datadog (DDOG), Petrobras (PBR), Under Armour (UAA), Dropbox (DBX), Cheniere Energy (LNG), PENN Entertainment (PENN), Take-Two Interactive Software (TTWO) and more.
Friday, August 9
Nikola Corporation (NKLA)
Nikola (NKLA) is poised to release its Q2 financial results on Friday before the market opens. While analysts anticipate Y/Y growth in both revenue and earnings, the company faces a challenging landscape.
Seeking Alpha’s Quant Rating system has issued a Strong Sell signal, citing decelerating momentum and inferior profitability compared to industry peers. In contrast, Wall Street analysts continue to maintain a Buy rating.
Recently, Nikola announced that it has regained compliance with Nasdaq listing requirements and delivered 72 Class 8 hydrogen fuel cell trucks to wholesalers in Q2, exceeding the high end of its sales guidance of 60 units.
Despite this progress, Seeking Alpha author Dilantha De Silva notes that Nikola’s profitability remains a concern due to high production costs and limited market potential for fuel cell electric vehicles.
- Consensus EPS Estimates: –$2.75
- Consensus Revenue Estimates: $24.66M
- Earnings Insight: Nikola has beaten EPS estimates 2 times and revenue estimates in 3 of the past 8 quarters.
Also reporting: Cassava Sciences (SAVA), Celsius Holdings (CELH) and more.
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