Earnings Week Ahead: Walmart, Home Depot, Alibaba, Cisco and more

Another busy week for corporate earnings is ahead, with a diverse range of companies set to report results, offering insights into various sectors ranging from e-commerce and technology to retail and industrials.

Investors will be keenly watching the performance of tech giants like Alibaba (NYSE:BABA), Cisco (NASDAQ:CSCO) and Tencent (OTCPK:TCEHY), as well as retail behemoths Walmart (NYSE:WMT), Home Depot (NYSE:HD) and JD.com.

Additionally, the week will also feature earnings results from Barrick Gold (NYSE:GOLD), Deere (NYSE:DE), Applied Materials (AMAT), Grab Holdings (GRAB), Nu Holdings (NU), Sea Limited (SE), Lithium Americas (LAC), Cardinal Health (CAH), Workhorse Group (WKHS) and Ballard Power Systems (BLDP).

Below is a rundown of major quarterly updates anticipated in the week of August 12–16:

Monday, August 12

Barrick Gold (GOLD)

The world’s second-largest gold miner Barrick Gold (GOLD) is gearing up to release its Q2 earnings report ahead of Monday’s market open. Analysts are bullish, predicting a 45% surge in profits.

Meanwhile, sell-side analysts recommend a Buy and Seeking Alpha’s Quant Rating system assigns the stock a Strong Buy rating.

Last month, the company provided a preliminary production update, revealing increased gold and copper output compared to the previous quarter. The miner remains confident in meeting its full-year production targets, anticipating a steady rise in output throughout the year, with a particular emphasis on the second half.

• Consensus EPS Estimates: $0.28
• Consensus Revenue Estimates: $3.13B
• Earnings Insight: Barrick has beaten analyst estimates on EPS in 8 straight quarters, rising above revenue expectations in 4 of those reports.

monday.com (MNDY)

monday.com (MNDY) is set to release Q2 earnings report on Monday, before the opening bell. Analysts anticipate more than 30% growth in both the firm’s top and bottom lines.

Recently, Baird Equity Research initiated coverage of monday.com with a Neutral rating and $250 price target. Seeking Alpha’s Quant Rating system rates the stock as Hold, while Wall Street analysts have a consensus Buy rating.

SA author The Optimist Fund highlights, “Monday.com founders have efficiently allocated capital, generating exceptional returns and driving significant equity value.”

• Consensus EPS Estimates: $0.56
• Consensus Revenue Estimates: $229.09M
• Earnings Insight: The company has consistently outperformed EPS and revenue estimates in the past 8 quarters.

Also reporting: Kodiak Gas Services (KGS), Rumble (RUM), Perspective Therapeutics (CATX), MIRA Pharmaceuticals (MIRA), Spectral AI (MDAI), Cara Therapeutics (CARA), Castor Maritime (CTRM), DHT Holdings (DHT), Niu Technologies (NIU), Meta Materials (MMAT), Esperion Therapeutics (ESPR), KE Holdings (BEKE), Cocrystal Pharma (COCP), Oragenics (OGEN) and more.

Tuesday, August 13

Home Depot (HD)

Home Depot (HD) is due to announce Q2 results before Tuesday’s market open. The company’s previous quarter was marked by mixed results, although the home improvement retailer maintained its full-year outlook.

While Wall Street analysts remain bullish on the stock with a Buy rating, Seeking Alpha’s Quant Ratings system offers a more cautious Hold perspective, noting growth and valuation concerns.

Leo Nelissen, an SA Investing Group leader, considers Home Depot a resilient long-term investment, citing its robust business model and strong competitive advantage. Despite recent economic challenges impacting sales, he maintains a bullish stance.

However, The Value Investor, another SA Investing Group leader, strikes a more cautious note. While acknowledging the company’s stable financials, the analyst warns of stagnant earnings and rising debt levels, advocating for a prudent approach.

• Consensus EPS Estimates: $4.56
• Consensus Revenue Estimates: $42.74B
• Earnings Insight: Home Depot has consistently outperformed EPS estimates in the past 8 quarters and revenue forecasts in 5 of those reports.

Also reporting: Sea Limited (SE), Paysafe Limited (PSFE), Asensus Surgical (ASXC), Navios Maritime Partners L.P. Common Units (NMM), HUYA (HUYA), 22nd Century Group (XXII), Tencent Music Entertainment Group (TME), Atossa Therapeutics (ATOS), Jaguar Health (JAGX), AST SpaceMobile (ASTS), Beam Global (BEEM), Ouster (OUST), Nu Holdings (NU) and more.

Wednesday, August 14

Cisco (CSCO)

Tech stalwart Cisco Systems (CSCO) is set to release its quarterly results after Wednesday’s close. After delivering stronger-than-expected results in the previous quarter, Cisco raised its revenue outlook to a range of $53.6B to $53.8B, up from the prior target of $51.5B to $52.5B. This aligned with analysts’ expectation of $53.6B.

However, in its last guidance update, the company narrowed its EPS outlook to $3.69 to $3.71 per share, compared to the consensus estimate of $3.64. This compared to an earlier range of $3.68 to $3.74 per share.

While Wall Street analysts continue to rate Cisco as a Buy, Seeking Alpha’s Quant Rating system suggests a Hold.

SA author Mike Zaccardi remains bullish on Cisco, stating that although EPS revisions are mixed, potential AI-driven growth opportunities could boost the stock’s valuation amid subdued expectations. Its earnings, valuation, dividend yield and free cash flow forecasts indicate the stock is undervalued, the analyst said, despite a less optimistic technical outlook.

• Consensus EPS Estimates: $0.78
• Consensus Revenue Estimates: $12.39B
• Earnings Insight: Cisco has beaten EPS and revenue estimates in 8 straight quarters.

Also reporting: Workhorse Group (WKHS), Cardinal Health (CAH), Zomedica (ZOM), StoneCo (STNE), bluebird bio (BLUE), Lumentum Holdings (LITE), Canoo (GOEV), Vuzix Corporation (VUZI), Alaunos Therapeutics (TCRT), Sachem Capital (SACH) and more.

Thursday, August 15

Walmart (WMT)

In what is the most closely watched report of the week, Walmart (WMT) is set to release its results before the market opens on Thursday. Sell-side analysts are optimistic about the stock, with a consensus Buy recommendation. However, the Seeking Alpha Quant Rating system remains cautious, maintaining a Hold rating.

SA author Skeptical12 believes, “Walmart should benefit from the economic slowdown,’ adding that the retailer’s cost-cutting and e-commerce initiatives could drive additional growth in the future.”

• Consensus EPS Estimates: $0.64
• Consensus Revenue Estimates: $167.22B
• Earnings Insight: Walmart has exceeded EPS and revenue expectations in 100% of the past 8 quarters.

Alibaba (BABA)

Chinese tech giant Alibaba (BABA) is set to release its quarterly results alongside JD.com (JD) before the market opens on Thursday. Analysts anticipate ~7% year-over-year growth in revenue, but profits are expected to decline by over 13%.

Wall Street analysts are optimistic about the stock, assigning it a Strong Buy rating. However, Seeking Alpha’s Quant Rating system remains cautious, maintaining a Hold rating due to valuation concerns.

SA columnist Curonian Research noted that while Alibaba’s cloud division has been constrained by capacity limitations, it is likely to break out eventually as demand for AI services surges.

• Consensus EPS Estimates: $2.09
• Consensus Revenue Estimates: $34.62B
• Earnings Insight: The company has beaten EPS estimates in 6 of the past 8 quarters, and revenue estimates in 4 of those reports.

Also reporting: VinFast Auto (VFS), JD.com (JD), Applied Materials (AMAT), Deere & Company (DE), Tapestry (TPR), Kandi Technologies Group (KNDI), Golar LNG Limited (GLNG), Battalion Oil Corporation (BATL), Grab Holdings Limited (GRAB), H&R Block (HRB), Canaan (CAN) and more.

Friday, August 16

Flower Foods (FLO)

Flower Foods (FLO) is set to unveil its Q2 earnings before the opening bell on Friday. The market remains notably cautious on the stock, reflected in both Wall Street analyst ratings and Seeking Alpha’s Quant Rating system, which both lean towards a Hold recommendation.

A recent analysis by SA contributor Sandpiper Investment Research highlights, “Flowers Foods has experienced low top-line growth and margin issues due to investments back into the business. Q1’24 results were satisfactory, but higher costs led to a 5% drop in share price and ongoing margin expansion challenges. Operational challenges and macroeconomic weakness remain headwinds for the company. Although the valuation may be attractive, the company should trade at a lower multiple for now.”

• Consensus EPS Estimates: $0.33
• Consensus Revenue Estimates: $1.24B
• Earnings Insight: The company has beaten EPS estimates in all the past 8 quarters, and revenue estimates in 4 of those reports.

Also reporting: RLX Technology (RLX), Nano Dimension (NNDM), Rigel Resource Acquisition (RRAC), Sunlands Technology Group (STG), Taylor Devices (TAYD) and more.