The Q3 earnings season seems to be to be constructive, with earnings progress anticipated to be sturdy and once more underpinned by a strong exhibiting from the Tech sector.
Three notable firms – Progressive PGR, Nike NKE, and Domino’s Pizza DPZ – are all on the reporting docket within the upcoming weeks.
Let’s take a better have a look at every.
Nike Seems to be to Bounce Again
Nike shares confronted appreciable stress following the discharge of its newest quarterly outcomes on account of an incapacity to seize shoppers’ desires. Nonetheless, the inventory is heading into the discharge with good momentum, with shares up 5% over the past month and maybe reflecting a pattern reversal after a disappointing begin to the 12 months.
Analysts have been notably bearish for the upcoming print, with the $0.51 Zacks Consensus EPS estimate down almost 14% since July and suggesting a forty five% pullback year-over-year. Gross sales expectations have adopted the identical path, with NKE forecasted to see its gross sales fall almost 3% from the year-ago interval.
Picture Supply: Zacks Funding Analysis
The steerage and commentary right here will likely be key for post-earnings reactions, which have largely been disappointing as of late. Nonetheless, the corporate stays targeted on capturing shoppers’ eyes once more, and a reacceleration of gross sales progress would bode extremely favorably for share efficiency from a close to and long-term perspective.
PGR Maintains Share Momentum
Progressive shares have been rockstar performers in 2024, gaining almost 60% on the again of strong quarterly outcomes. The inventory sports activities the highly-coveted Zacks Rank #1 (Robust Purchase), and its earnings outlook for the quarter to be reported (proven under) is an enormous motive why.
The $3.22 Zacks Consensus EPS estimate suggests 54% EPS progress year-over-year, whereas anticipated gross sales of $18.9 billion displays 20% progress from the year-ago interval.
Picture Supply: Zacks Funding Analysis
Can DPZ Get Its Mojo Again?
Like NKE, DPZ shares plunged following its newest set of quarterly outcomes, maybe a mirrored image of profit-taking after an enormous run. As proven under, the discharge broke a back-to-back streak of constructive post-earnings reactions.
Picture Supply: Zacks Funding Analysis
Earnings and income expectations have primarily remained stagnant over current months, with the corporate anticipated to see a 12% decline in EPS alongside a 7% increase to quarterly gross sales. The gross sales increase paired with decrease earnings displays a profitability crunch, one thing to bear in mind.
Much like NKE, DPZ’s outcomes will give us a small look into the present state of the patron, which has proven indicators of moderation as of late.
Backside Line
The Q3 earnings cycle is simply across the nook, with a number of notable firms – Progressive PGR, Nike NKE, and Domino’s Pizza DPZ – all on the reporting docket within the upcoming weeks.
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NIKE, Inc. (NKE) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
