The first full week of March is set to present a packed schedule of earnings reports, featuring key players from various sectors. Highlights include NIO Inc. (NYSE:NIO), a leading Chinese electric vehicle manufacturer, along with retail giants like Costco (NASDAQ:COST), Target (NYSE:TGT), JD.com (NASDAQ:JD), Ross Stores (NASDAQ:ROST) and Kroger (NYSE:KR).
Broadcom (NASDAQ:AVGO), DocuSign (NASDAQ:DOCU) and CrowdStrike (NASDAQ:CRWD) will announce their results as well. In addition, sectors such as energy, healthcare and consumer discretionary will receive results from notable names, with companies like Petrobras (PBR), Inovio Pharmaceuticals (INO) and Bilibili (BILI) disclosing their financial figures.
Below is a rundown of the major quarterly updates anticipated in the week of March 4 to March 8:
Monday, March 4
Sea Limited (SE)
Singapore-based tech conglomerate Sea Limited (SE) is poised to reveal its Q4 results before the market opens on Monday. Despite its shares climbing roughly 20% since the ending of 2023, the stock remains down over 22% year-over-year.
Market sentiment toward the stock is positive, with Seeking Alpha’s Quant Rating system and Wall Street analysts recommending a Buy.
Paul Franke, a Seeking Alpha author, notes that Sea Limited is transitioning to a self-funded growth strategy, boasting a strong balance sheet, improving profit margins, and its most attractive valuation ever.
- Consensus EPS Estimates: -$0.06
- Consensus Revenue Estimates: $3.54B
- Earnings Insight: Sea Limited has beaten EPS and revenue estimates in 6 of the past 8 quarters.
Also reporting: Stitch Fix (SFIX), ContextLogic (WISH), Cara Therapeutics (CARA), Global Ship Lease (GSL), Nektar Therapeutics (NKTR), AeroVironment (AVAV), Stellus Capital Investment Corporation (SCM), Sohu.com Limited (SOHU), Stereotaxis (STXS), ThredUp (TDUP) and more.
Tuesday, March 5
NIO (NIO)
NIO (NIO) is gearing up to announce its Q4 earnings before the opening bell on Tuesday. While the Wall Street consensus remains at Buy, Seeking Alpha’s Quant Ratings system maintains a Hold rating due to concerns about profitability and momentum.
The EV maker recently reported a drop in deliveries, with a 33% year-over-year and 19% month-over-month decrease to 8,132 vehicles in February.
Stone Fox Capital, a SA Investing Group leader bullish on the stock, notes NIO’s stock price dropped to $6 despite record production and growth in 2024. NIO delivered 50,045 vehicles in Q4, slightly below Q3 records but surpassing its prior peak by 10,000 vehicles.
NIO plans to expand production into sub-brands to enter the lower-cost vehicle market, Stone Fox noted, controlling over 40% of the ultra-premium market. Despite trading slightly above 1x sales, NIO is establishing a strong brand in the Chinese EV market and aims to cut losses to sustainable levels for new sub-brand development and a charging swapping station network.
In contrast, JR Research, a fellow SA Investing Group leader, detailed a bearish view, highlighting challenges in NIO’s scaling, potentially leading to disappointment in its 2024 outlook. The lack of a hybrid strategy and the global EV growth slowdown could pose challenges for unprofitable EV players like NIO, JR Research argued.
- Consensus EPS Estimates: -$0.30
- Consensus Revenue Estimates: $2.34B
- Earnings Insight: NIO has missed EPS estimates consistently in the past 8 quarters and revenue expectations in 50% of those quarters.
Also reporting: CrowdStrike Holdings (CRWD), Target (TGT), ChargePoint Holdings (CHPT), Nordstrom (JWN), Ross Stores (ROST), Box (BOX), Rigel Pharmaceuticals (RIGL), BlackRock Capital Investment Corporation (BKCC), Cerus Corporation (CERS), Compugen (CGEN) and more.
Wednesday, March 6
JD.com (JD)
Chinese e-commerce giant JD.com (JD) is set to report its Q4 results before the opening bell on Wednesday. Analysts anticipate a year-over-year decline in both revenue and earnings.
JD.com’s stock has experienced significant declines, dropping over 50% in the past year and over 20% since the beginning of 2024. These declines come as the company considers making a bid to acquire British electronics retailer Currys, which could lead to a potential bidding war with U.S.-based activist investor Elliott Advisors.
The consensus sell-side rating remains a Buy. Meanwhile, the Seeking Alpha Quant Ratings system has a more cautious view, maintaining a Hold rating.
In a recent move, JD.com announced a 10% price reduction for its cloud computing products, following a similar move by Alibaba. This price cut, effective March 1, applies to JD Cloud’s core products like computing, storage and network, aiming to meet customers’ full-chain service needs for cloud migration and use. The price comparison activity is targeted at specific cloud service providers.
Chan Yeng, a SA author, argues that JD.com, a resilient player in China’s e-commerce market, has a strong delivery capability, logistics economies and distinct product categories. Despite a recent dip in growth due to the deflation cycle, government measures may alleviate the impact, Yeng noted.
- Consensus EPS Estimates: $0.63
- Consensus Revenue Estimates: $41.61B
- Earnings Insight: JD.com has topped EPS expectations in 8 consecutive quarters, rising above revenue expectations in 6 of those reports.
Also reporting: Inovio Pharmaceuticals (INO), Ideanomics (IDEX), Vermilion Energy (VET), Victoria’s Secret & Co. (VSCO), Foot Locker (FL), Campbell Soup Company (CPB), EVgo (EVGO), TriplePoint Venture Growth (TPVG), Fortuna Silver Mines (FSM), Thor Industries (THO), Abercrombie & Fitch Co. (ANF), United Natural Foods (UNFI) and more.
Thursday, March 7
Costco (COST)
Costco (COST) is set to announce its quarterly earnings after Thursday’s market close, with analysts anticipating a year-over-year increase in both revenue and earnings for the retail giant.
While Wall Street analysts are optimistic with a Buy rating, Seeking Alpha’s Quant Rating system has issued a more conservative Hold rating.
SA author Black Sheep argues that Costco is currently undervalued by 21%, setting a price target of $905. The company has outperformed the S&P 500, delivering a 26% return over the past three months, Black Sheep noted, while praising what it calls Costco’s strong business model, robust financial performance and promising growth prospects.
- Consensus EPS Estimates: $3.63
- Consensus Revenue Estimates: $59.13B
- Earnings Insight: Costco has exceeded revenue expectations 5 of the past 8 quarters, missing EPS estimates only twice in that span.
Also reporting: Broadcom (AVGO), DocuSign (DOCU), The Kroger Co. (KR), Petróleo Brasileiro S.A.: Petrobras (PBR), Stratasys (SSYS), MongoDB (MDB), Gevo (GEVO), Paysafe Limited (PSFE), Bilibili (BILI), Smith & Wesson Brands (SWBI), The Gap (GPS), Ciena (CIEN), 22nd Century Group (XXII), Bitfarms (BITF), Ontrak (OTRK), BJ’s Wholesale Club Holdings (BJ), National Beverage (FIZZ) and more.
Friday, March 8
Genesco (GCO)
Genesco (GCO) is scheduled to announce its Q4 results before the market opens on Friday. While Wall Street rates Genesco as a Buy, Seeking Alpha’s Quant Rating system suggests a Hold, citing growth concerns.
In January, Genesco (GCO) provided guidance for Q4 sales that were trending below expectations. It also guided for Q4 adjusted EPS to be in the range of $0.65 to $0.85, compared with prior estimates of $1.50 to $2.00 and a consensus estimate of $1.73.
- Consensus EPS Estimates: $3.04
- Consensus Revenue Estimates: $730.50M
- Earnings Insight: The company has exceeded EPS expectations in 6 of the past 8 quarters, revenue estimates in 50% of those reports.
Also reporting: Algonquin Power & Utilities (AQN), Avid Bioservices (CDMO), Coherus BioSciences (CHRS), Annovis Bio (ANVS), America’s Car-Mart (CRMT) and more.
