Kalkine Media explores five key earnings to watch next week

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  • Agilent Technologies will report its earnings on November 21.
  • Revenue of Dell Technologies (DELL) rose nine per cent YoY in Q2 FY23.
  • Net sales of Dollar Tree (DLTR) jumped over six per cent YoY in Q2 FY22.

The year 2022 has been uninspiring for the stock market, as evidenced by the performance of the indices. Meanwhile, all three US indices have noted declines lately due to inflationary pressures and increasing policy rates, among other factors. In addition, the global geopolitical turmoil has also weighed on the investors' sentiments.

However, the mixed third-quarter earnings season and some key economic data in recent days have helped gains in the market. The CPI data for October showed that the US inflation has cooled down in the month after months of harsh measures by the Federal Reserve.

The US CPI in October, which is also a favorable gauge to measure inflation, advanced at its lowest annual rate, 7.7 per cent, in the running year. The data also eased some concerns over a more aggressive stance by the Federal Reserve in the coming months.

The central bank has already raised the borrowing costs at its fastest pace in years to cool down demand and bring down the inflation at their two per cent target range. This has also weighed on the consumers' sentiments, forcing them to cut their spending budget.

In addition, the producer price index, or the wholesale prices, rose 0.2 per cent last month, unchanged from the prior month. According to the Bureau of Labor Statistics report, the PPI index surged eight per cent in October, following a surge of 8.4 per cent in the prior month. It hit its all-time high of 11.7 per cent in March 2022.

Meanwhile, some of the next week's reporting companies include Agilent Technologies, Inc. (NYSE: A), Dell Technologies Inc. (NYSE: DELL), and Medtronic plc. (NYSE: MDT), Dollar Tree Inc. (NASDAQ: DLTR), Deere & Company (NYSE: DE), among others.

So, let's take a quick tour of the past financial highlights and other key details about the stocks before their scheduled release in the upcoming week.

Agilent Technologies, Inc. (NYSE: A)

Agilent Technologies is an American consumer electronics provider with a dividend yield of 0.57 per cent. The company engages in life sciences operations that offer equipment, software, and other related solutions for laboratory workflow.

After the closing bell, the life sciences company will report its final quarter and annual results for fiscal 2022 on Monday, November 21.

Meanwhile, the company declared a quarterly dividend of 22.5 cents per share of its common stock on November 16, which would be payable on January 25 next year. The current dividend announcement reflects an increase of seven per cent sequentially.

In Q3 FY22, Agilent Technologies' revenue jumped eight per cent YoY and 13 per cent on a core basis to US$ 1.72 billion, while its GAAP net income surged 28 per cent YoY to US$ 329 million in the quarter.

During its third-quarter earnings release, the company estimated its annual revenue to be between US$ 6.75 billion and US$ 6.775, signifying a surge of 6.8 per cent and 7.2 per cent, respectively on a reported basis. For the final quarter, it estimated its revenue to range from US$ 1.75 billion to US$ 1.775 billion.

Dell Technologies Inc. (NYSE: DELL)

Dell Technologies is a major American technology company with a dividend yield of 3.12 per cent. The company's stock, which engages in computer-related products and services, added over 20 per cent in the running quarter through November 16 while touching its 52-week low of US$ 32.895 on October 13, 2022.

The technology company is scheduled to report its Q3 FY23 earnings on the same date as Agilent Technologies. Meanwhile, in Q2 FY23, Dell Technologies' revenue soared nine per cent YoY to US$ 26.4 billion, and its operating income rose 25 per cent YoY to US$ 1.3 billion.

It said that the company's revenue growth in the second quarter was driven by its continued growth across client and infrastructure business segments.

Medtronic plc. (NYSE: MDT)

Medtronic plc is a healthcare and medical device firm with a dividend yield of 3.28 per cent. The company's stocks, which engage in medical technology and other related solutions, were at its 52-week low of US$ 79.195 on November 9, 2022.

The US$ 108.69 billion market cap medical device company will report its Q2 FY23 financial updates on Tuesday, November 22. In the starting quarter of fiscal 2023, Medtronic plc's revenue fell eight per cent YoY to US$ 7.4 billion, and its GAAP diluted EPS rose 25 per cent YoY to US$ 0.70 apiece.

The company said during its Q1 FY23 earnings release that its revenue exceeded its prior guidance, with the supply chain hurdles impacting its operations.

Dollar Tree Inc. (NASDAQ: DLTR)

The discount store operator Dollar Tree Inc, holds a market cap of US$ 37.24 billion. The multi-price-point chain of discount variety stores operator's stock surged over 18 per cent YTD and about 25 per cent YoY.

The company would report its financial results for the third quarter that ended October 29, on November 22, 2022, at 9 am ET. In Q2 FY22, Dollar Tree Inc's sales surged 6.7 per cent YoY to US$ 6.77 billion, while its diluted earnings per share rose 30.1 per cent YoY to US$ 1.60 apiece.

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Deere & Company (NYSE: DE)

The leading American manufacturing company, Deere & Company, will report its final quarter and annual earnings results for fiscal 2022 on November 23, at 9 am CT.

Meanwhile, in Q3 FY22, Deere & Company's net sales and revenue rose 22 per cent YoY to US$ 14.10 billion, while its net income surged 13 per cent YoY to US$ 1.88 billion.

The company's stock, which manufactures agricultural and forestry machinery, heavy equipment, etc., rose 18 per cent YTD and about 12 per cent YoY.

Bottom line:

The latest PPI data indicated that the Fed's effort might be taking its effect in cooling down inflation after last week's CPI data suggested the same.

However, after last week's CPI data, Fed Governor Christopher Waller suggested that it is only a part of the bigger picture and more upcoming data would be considered before any further conclusions. Although the Fed may slow its pace of raising the policy rates, there are not yet any plans to pause them.

On the other hand, New York Fed President John Williams suggested on November 16 that the monetary policy is not the key approach to assess the financial stability risks. He believes that the Fed officials should look at measures to boost the resilience of things like the US Treasury market.

However, investors should carefully evaluate all the assets while considering the risks associated with the equity market before putting their bets into it.



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