Earnings Reports for the Week of Jan. 11-15
January 13, 2021
Below is a weekly earnings calendar of the most important upcoming quarterly reports schedule to be released by publicly traded companies. There are also earnings previews for select companies. Please check back often. This earnings calendar is updated weekly.
(Editor’s Note: Earnings dates in tables are tentative. However, companies featured in “Earnings Spotlights” have officially announced their earnings dates.)
Earnings Calendar Highlights
|$1.98 per share
KBH, $33.04) was a clear beneficiary of the housing sector’s unusual strength last year. By mid-October 2020, shares were more than 20% higher for the year-to-date, fueled in part by an expectation-crushing fiscal third-quarter report in September.
But while the homebuilding industry has cooled off since then, KBH shares gotten outright cold. KBH finished 2020 in the red and is off about 20% since mid-October; the SPDR S&P Homebuilders ETF (XHB) is up 2% in that time.
It’s not a lack of confidence in the industry. UBS is among the analyst firms looking bullishly at homebuilders heading into 2021. “We expect homebuilders to benefit not only from sustained housing strength but also from 20%+ returns, well-managed land pipelines and strong cash flows,” analyst Nishu Sood writes.
But UBS and a number of analysts remain lukewarm on KBH and have more tepid expectations for the year ahead. For instance, CFRA’s Kenneth Leon recently downgraded the stock from Strong Buy to Hold, saying, “KBH’s earnings calls are often lacking high confidence about the future, citing execution risks, or conservative land acquisition plans that reduce growth from new selling communities.”
For the quarter to be reported after the Jan. 12 close, the pros are looking for a 27.0% decline to $1.14 billion, and a 29.0% drop in profits to 93 cents per share.
Other Noteworthy Reports
||$0.42 per share
|$0.67 per share
DAL, $40.02) will report its last full quarter that had no effect from COVID-19, and it shows. The pros are looking for a 67.9% drop in revenues to $3.68 billion, and a flip from a $1.70-per-share profit to a $2.47 EPS loss.
Yes, air travel has bounced off the bottom, but you can’t really say they’ve recovered, either. As a for-instance, the U.S. Department of Transportation’s latest Air Travel Consumer Report, released Dec. 18 and covering October 2020, shows 374,538 scheduled domestic flights in October 2020 – up from 180,000 in May 2020, but well, well off the 687,000 that were scheduled in October 2019.
Thursday’s report is unlikely to provide any signs of hope, and instead should be one last wreck to ogle at before we start making recovery comparisons in three months.
Going forward, there’s some optimism over Delta’s prospects.
“As vaccines quell the pandemic in the U.s. in 2021, we expect major airlines with still manageable debt levels, like Delta and Southwest (LUV), will benefit from domestic business travel bouncing back similarly to what we are already seeing in the business jet and domestic China market.”
Other Noteworthy Reports
||-$0.02 per share
JPM, $136.02) will get the banks’ earnings season kicked off with its Q4 report ahead of the Jan. 15 open. And while most experts in generally have been high on the financial sector going into 2021, the sector’s red-hot returns since November have some analysts advising caution in 2021’s early innings.
“With banks in vogue again, sentiment white hot, and valuations generally at fair value, we believe it is more prudent now to get less aggressive on the bank group,” write Baird analysts. “We still find the relative risk/reward of banks vs. the broader market to be reasonably good but believe investors will likely be well served to be opportunistic rather than chase banks here.”
As far as JPMorgan Chase goes, the firm has a Neutral rating on the stock with a $125 price target. JPM shares have eclipsed that level as part of a 34% rally over the past three months, suggesting there’s not much more room for upside in the near-term.
The fourth quarter isn’t expected to be anything special for JPMorgan Chase. Analysts are projecting revenues of $28.45 billion (+2.6% YoY) and profits of $2.57 per share (flat YoY).
Noteworthy Earnings Reports
||$1.30 per share
|PNC Financial Services
Reporting schedules provided by Briefing.com and company websites. Earnings estimate data provided by Thomson Reuters via Yahoo! Finance, and FactSet via MarketWatch.