Kalkine Media explores five earnings to watch out for this week

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Kalkine Media explores five earnings to watch out for this week

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 Kalkine Media explores five earnings to watch out for this week
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Highlights:

  • Jabil Inc. (NYSE: JBL) would report its fourth quarter and full fiscal 2022 earnings results on September 27.
  • Paychex, Inc. (NASDAQ: PAYX) Q4 FY22 revenue rose 11 per cent YoY.
  • Micron Technology, Inc. (NASDAQ: MU) would report its final quarter fiscal 2022 financial results on September 29.

While the second quarter earnings season has almost come to an end, investors are still keeping a close watch on the major firms that are scheduled to report their financial results this week. 

Notably, Jabil Inc. (NYSE: JBL), Paychex, Inc. (NASDAQ: PAYX), Nike, Inc. (NYSE: NKE), Micron Technology, Inc. (NASDAQ: MU), and Bed Bath & Beyond Inc. (NASDAQ BBBY) are among the major firms to announce their latest quarterly earnings report this week. So, market participants expect to get a clear insight into how the companies are performing in recent times.

Meanwhile, the positive corporate earnings at the start of the second quarter have lifted market spirit, while triggering a summer rally in the market. However, the rally didn't last long due to the mounting pressures of several macroeconomic turmoils.

The latest consumer price index (CPI) report showed that inflation in August stayed at an elevated level despite the Fed's aggressive move toward taming it. Moreover, the Federal Reserve raised the interest rate by another 75 basis points last week, to bring down inflation.

Here we explore the recent stock performance and financial highlights of the firms amid sloppy conditions in the broader market:

Jabil Inc. (NYSE: JBL)

Jabil Inc. is one of the major consumer electronics manufacturing firms with a dividend yield of 0.54 per cent. The US$ 7.3 billion market cap company had an annualized dividend of US$ 0.32.

The stock of Jabil Inc. closed at US$ 56.24 on September 23, down by 2.29 per cent from its previous closing price. The JBL stock added more than nine per cent in the running quarter. However, it lost about 20 per cent YTD, while losing more than eight per cent YoY through September 23.

The manufacturing services firm would report its fourth quarter and full fiscal 2022 earnings results on September 27 before the opening bell.

Meanwhile, in the third quarter of fiscal 2022, Jabil's revenue was US$ 8.32 billion, compared to US$ 7.21 billion in Q3 FY22. The consumer electronics manufacturing firm noted a net income of US$ 218 million in the latest quarter, which improved from US$ 170 million in Q3 FY21.

Paychex, Inc. (NASDAQ: PAYX)

Paychex is a leading payroll services firm with a dividend yield of 2.68 per cent. The stock of the US$ 41.44 billion market cap firm closed at 2.2 per cent down to US$ 115.02 on September 23.

Stocks of Paychex had a P/E ratio of 29.95. The PAYX stock added about only one per cent QTD, while on a YTD basis, it tumbled about 15 per cent. However, on an annual basis, the stock of the payroll services firm added around four cents through September 23.

The Rochester-based company would announce its first quarter fiscal 2023 financial results on September 28.

In the final quarter of fiscal 2022, Paychex's total revenue jumped 11 per cent YoY to US$ 1.14 billion. Its total service revenue soared the same percentage YoY to US$ 1.12 billion in the final quarter of fiscal 20222. For fiscal 2022, its revenue increased by 14 per cent YoY to US$ 4.61 billion.

The diluted EPS of the firm rose 12 per cent YoY to US$ 0.82 apiece in Q4 FY22, up from US$ 0.73 per share in Q4 FY21. For fiscal 2022, its diluted EPS rose 27 per cent YoY to US$ 3.84 per share.

Top earnings to watch this weekSource: ©Kalkine Media®; © Canva via Canva.com 

Nike, Inc. (NYSE: NKE)

Nike is one of the major footwear and apparel manufacturing firms with a dividend yield of 1.22 per cent. Meanwhile, the stock of the US$ 152.18 billion market cap firm closed at US$ 97.02 last Friday, down by 1.55 per cent from its previous closing price.

The P/E ratio of Nike, Inc. is 25.8. Meanwhile, the stock of the footwear and apparel manufacturing firm had a bumpy ride so far this year.

The NKE stock fell about 41 per cent YTD while slipping around 39 per cent YoY and five per cent in the running quarter through September 23. Notably, the stock of the company touched its 52-week low of US$ 97.83 on September 22 this year. Nike would announce its latest first quarter fiscal 2023 earnings results on Thursday, September 29.

Meanwhile, in the final quarter of fiscal 2022, its revenue decreased by one per cent YoY to US$ 12.2 billion. The firm's net income declined five per cent YoY to US$ 1.4 billion in the final quarter of fiscal 2022.

Its annual revenue in fiscal 2022 plunged five per cent YoY o US$ 46.7 billion, while its net income rose six per cent YoY to US$ 6 billion in the same period.

Micron Technology, Inc. (NASDAQ: MU)

Micron Technology is one of the leading semiconductor manufacturing firms with a dividend yield of 0.92 per cent. The US$ 55.26 billion market cap firm is engaged in the production of computer memory and other related products.

Exploring its recent stock performance, the MU stock fell 46 per cent YTD and 32 per cent YoY. In the running quarter through September 23, it lost more than nine per cent. It touched its 52-week low of US$ 49.345 on Thursday, September 22. 

Micron Technology would report its final quarter fiscal 2022 financial results on September 29.

Its third-quarter fiscal 2022 revenue was US$ 8.64 billion, against US$ 7.79 billion in the year-ago quarter. The net income of Micron Technology totaled US$ 2.62 billion in Q3 FY22, comparatively up from US$ 1.73 billion in Q3 FY21.

Bed Bath & Beyond Inc. (NASDAQ BBBY)

Bed Bath & Beyond is a leading retail store firm with a market cap of US$ 533.31 million. The BBBY stock rose about 34 per cent QTD while falling more than 54 per cent YTD, and 71 per cent YoY.

Bed Bath & Beyond would also report its latest quarterly earnings results on September 29. Meanwhile, in the prior quarter, its net sales tumbled 25 per cent YoY to US$ 1.46 billion. Bed Bath's total loss was US$ 357.66 million in Q1 FY22, against a loss of US$ 50.87 million in Q1 FY21.

Bottom line:

The Dow Jones Industrial Average fell to its lowest level in the current fiscal year, as investors are walking on a cautious path amid several economic concerns in the broader market.

Inflation is still at an elevated level, and the central bank is sticking to its plans of raising its policy rates. Meanwhile, investors who were anticipating that the Fed may turn dovish in the coming months are now shifting their focus to safer assets.

Notably, the S&P 500 index slumped nearly 17 per cent YoY, while declining about 22 per cent YTD. In the current quarter, the index slipped more than two per cent through September 23.

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