Tag: earnings

New Oriental Education & Technology Group Inc. (EDU) Management on Q1 2021 Results – Earnings Call Transcript

New Oriental Education & Technology Group Inc. (NYSE:EDU) Q1 2021 Results Earnings Conference Call October 13, 2020 8:00 AM ET

Company Participants

Sisi Zhao – Director, Investor Relations

Stephen Yang – Chief Financial Officer

Conference Call Participants

Tian Hou – T.H. Capital

Felix Liu – UBS

Jin Yoon – Newstreet Research

Mark Li – Citi

Alex Xie – Credit Suisse

Sheng Zhong – Morgan Stanley

Lucy Yufrom – Bank of America Securities

Alex Liu – China Renaissance

DS Kim – JPMorgan

Tommy Wong – China Merchant Securities

Liping Zhao – CICC

Operator

Good evening and thank you for standing by for New Oriental’s FY 2021 First Quarter Results Earnings Conference Call. At this time all participants are in a listen-only mode. After managements prepared remarks there will be a question-and-answer session. Today’s conference call is being recorded. If you have any objections, you may disconnect at this time.

I’d now

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Week Ahead Brings Earnings Season, Amazon Prime Day, Apple Event

Key Takeaways:

  • Broken record time as stimulus hopes continue to provide early market support
  • Earnings season gets underway tomorrow with big banks beginning to report
  • Big week for FAANGs as Amazon
    AMZN
    Prime Day, Apple
    AAPL
    event coming up

If Wall Street had a seat belt sign, now’s when the captain would tell us to buckle up for possible turbulence ahead.

Even if earnings season didn’t begin tomorrow, there’s plenty to keep investors on their toes. Amazon’s (AMZN) Prime Day, Apple’s (AAPL) long-awaited product event, continued stimulus negotiations in Washington, and mounting virus cases in the U.S. and Europe all get mixed into the recipe.

Ordinarily, those ingredients would be enough for anyone, but this time it’s happening while investors and the entire world have one eye on polls three weeks ahead of the U.S. presidential election. Despite all this, volatility is the lowest since late

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JPMorgan Set to Kick Off Third-Quarter Earnings Season

Third-quarter earnings season gets underway in the week ahead with results from big banks and healthcare companies among the heavy hitters on tap.

Here’s a look at some of the more notable results expected beginning on Tuesday.

JPMorgan

JPMorgan Chase & Co.  (JPM) – Get Report is expected to report adjusted net income of $6.9 billion, or $2.23 a share, on sales of $28.2 billion before the market opens on Tuesday, based on a FactSet survey of 23 analysts.

In the same period a year ago, the company posted earnings of $2.68 a share on sales of $30.1 billion. It reported net income of $9.6 billion.

The stock has risen 3.6% since the company last reported earnings on July 14.

In the upcoming quarter, analysts are forecasting adjusted net income of $6.1 billion, or $1.91 a share, on sales of $26.8 billion.

For the year, analysts project revenue

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Ping Identity Announces Date for Third Quarter 2020 Earnings Conference Call

Ping Identity (NYSE: PING), the Intelligent Identity solution for the enterprise, today announced that it will release financial results for its third quarter of fiscal year 2020, ended September 30, after the U.S. market close on Wednesday, November 4, 2020. Management will host a conference call that afternoon at 5:00 p.m. Eastern time to discuss the results.

Ping Identity Third Quarter 2020 Earnings Conference Call

Investors and participants can register for the telephonic version of the conference call in advance by visiting http://www.directeventreg.com/registration/event/6159505. After registering, instructions will be shared on how to join the call including dial-in information as well as a unique passcode and registrant ID. At the time of the call, registered participants will dial in using the numbers from the confirmation email, and upon entering their unique passcode and ID, will be entered directly into the conference.

Following the conference call, a replay will be available until

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J.P. Morgan Analysts Reiterate Overweight Rating on Abbott Laboratories (ABT) and Raise Price Target Ahead of 3Q20 Earnings Release

On Friday, J.P. Morgan analysts reiterated their Overweight rating on Abbott Laboratories (ABT) while raising their price target from $110 to $125. The analysts give their insight on what they expect to see from 3Q20 results for Abbott Laboratories ahead of earnings season. They like MedTech and Diagnostic businesses combined with BinaxNow, Libre 3.0 and better Fx dynamics.

The analysts forecast 3Q20 revenue sales of $8.70B (+7.8% reported, +8.6%cc) and cash EPS of $0.92 (+9.4%). This is a bit higher than the Street forecast of $8.49B (+7.0%cc) and $0.90 EPS. Similar to the last quarter, better-than-expected COVID trends will work in Abbott’s favor. Medical Devices and Diagnostics is the main factor in representing most of upside given how consensus numbers haven’t moved for recent product announcements (i.e. Binax) and commentary.

J.P. Morgan analysts mentioned, “When combined with the tailwinds the company is seeing within diagnostics from its COVID-19 test approvals,

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Zacks Earnings Trends Highlights: JPMorgan and Citigroup

For Immediate Release

Chicago, IL – October 8, 2020 – Zacks Director of Research Sheraz Mian says, “Overall profitability will remain constrained by a difficult interest rate environment, partly offset by continued momentum in capital markets businesses”

Q3 Bank Earnings in the Spotlight Next Week

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>

Here are the key points:

  • The big banks that will kick-start the Q3 earnings season for the Finance sector are expected to have fewer credit-quality issues relative to the first half, but overall profitability will remain constrained by a difficult interest rate environment, partly offset by continued momentum in capital markets businesses.
     
  • This earnings season is expected to show continued improvement in the overall outlook, a trend that has been in
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Apple to announce fourth quarter earnings on Oct. 29

Apple on Thursday announced that its quarterly earnings call for the fourth fiscal quarter of 2020 will be held on Oct. 29, where CEO Tim Cook and CFO Luca Maestri are expected to detail the company’s health heading into what is typically a lucrative fall season.

As usual, Apple will hold an investor conference call following its Q4 earnings release on Thursday, Oct. 29, according to an updated investor webpage. The call is scheduled to take place at 2:00 p.m. Pacific, 5 p.m. Eastern.

More importantly, the executives will elucidate Apple’s continued response to the COVID-19 pandemic. The company put in an impressive Wall Street beat for its third fiscal quarter of 2020 despite fallout from the virus, managing a record $59.7 billion in revenue.

While iPhone sales stagnated during the last quarter, Services, iPad and Mac buoyed overall revenue with major year-over-year increases. Services, for example,

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Apple to Announce Q4 2020 Earnings on October 29

Apple today updated its investor relations page to announce that it will share its earnings results for the fourth fiscal quarter (third calendar quarter) of 2020 on Thursday, October 29.


Fourth quarter earnings calls typically provide some insight into the early sales of new iPhones, but since this year’s iPhones have been delayed until October, initial iPhone sales data will not factor into fourth quarter revenue.

Apple will perhaps provide detail on sales of the Apple Watch Series 6 and the new Apple Watch SE, which did launch during the September quarter.

Apple declined to provide guidance for the fourth quarter of 2020 during its third quarter earnings call due to the ongoing global health crisis, which continues to affect Apple’s product launch timelines and sales.

Apple in the third quarter brought in $59.7 billion in revenue, marking a record June quarter bolstered by products and services growth and a

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Zacks Earnings Trends Highlights: Micron Technology, Costco, NIKE, Oracle and FedEx

For Immediate Release

Chicago, IL – October 1, 2020 – Zacks Director of Research Sheraz Mian says, “For full-year 2020, total earnings for the S&P 500 index are currently expected to be down -20.6% on -4.7% lower revenues. As with Q3 estimates, full-year estimates have improved since early July.”

Looking at the Improving Outlook Ahead of Q3 Earnings Season

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>

Here are the key points:

  • The outlook for corporate earnings has been steadily improving since early July, driven mostly by a better-than-expected economic recovery. This trend has been confirmed by the early 2020 Q3 recent earnings releases.
  • For 2020 Q3, total S&P 500 earnings are expected to decline -22.8% on -2.8% lower revenues. This is an improvement
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Looking at the Improving Outlook Ahead of Q3 Earnings Season

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>

Here are the key points:

  • The outlook for corporate earnings has been steadily improving since early July, driven mostly by a better-than-expected economic recovery. This trend has been confirmed by the early 2020 Q3 recent earnings releases.
     
  • For 2020 Q3, total S&P 500 earnings are expected to decline -22.8% on -2.8% lower revenues. This is an improvement from the -26.5% earnings decline expected at the start of July and follows the -32.4% earnings drop in Q2.
     
  • Sectors with the weakest Q3 growth outlook remain the social-distancing exposed spaces like Transportation (-122.5% earnings decline), Energy (-102.2%), and Consumer Discretionary (-85.7%).
     
  • Out of the total 16 Zacks sectors, 14 sectors are expected to experience earnings declines in Q3,
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