Next week’s schedule of earnings announcements is relatively modest, with Oracle (NYSE:ORCL) and Adobe (NASDAQ:ADBE) taking center stage. The list of businesses providing their quarterly updates also includes EV startup Cenntro Electric Group (NASDAQ:CENN), online fashion retailer Rent the Runway, and lithium-ion battery recycling company Li-Cycle Holdings (NYSE:LICY).
The Earnings Reports That Are Due for the Weeks of September 12–16 Are Listed Below:
At market close on Monday, Oracle (NYSE:ORCL) will release a financial update for its Q1. The report is the first since the deal to acquire the medical record provider, Center, was finalized in June. Additionally, hundreds of employees from the company’s advertising and customer support divisions are said to have been let go over the preceding 90 days.
The Cerner acquisition is anticipated to “create a bit of noise around Oracle’s business segments” this time around, according to analyst Brian White at Monness, Crespi, Hardt. Meanwhile, Valuentum noted that the company has promise for dividend growth potential, despite ORCL’s debt load being “a significant concern.”
- Estimates of EPS by consensus: $1.08.
- Estimates of Revenue as a Whole: $11.45B
According to earnings insight, Oracle has outperformed EPS and revenue forecasts in 7 out of the last 8 quarters.
On September 13th, Tuesday
Group Cenntro Electric (NASDAQ:CENN)
The New Jersey-based EV company, Cenntro Electric Group (NASDAQ:CENN), whose shares have fallen more than 75% in the first nine months of 2022 and more than 85% in the previous year, will report its first-half results on Tuesday after the bell.
The manufacturer announced the extension of its Logistar product line just before the release of the earnings, with the new Logistar all-electric commercial van 260 being prepared for production and initial deliveries anticipated in the first quarter of 2023.
Wednesday, September 14th.
Canadian lithium-ion battery resource recovery and recycling company Li-Cycle Holdings (NYSE:LICY) is scheduled to release its Q3 financial results on Wednesday before market opening. This is Li-Cycle Holdings’ first earnings update since its inclusion in the small-cap Russell 2000 and the broad Russell 3000 indices in late June.
- Consensus Estimates for EPS: $0.13
- $10.62M in consensus revenue projections
- Earnings insight: Li-Cycle Holdings has missed EPS projections in 4 consecutive quarters, while just once in the last year has it exceeded revenue estimates.
September 15th, Thursday.
As IT stocks have generally underperformed in 2022, shares of California-based software company Adobe (NASDAQ:ADBE) have declined nearly 30%. On Thursday, Adobe will provide investors with an update on its third-quarter results.
Since then, both EPS and revenue projections have been lowered more than 20 times by analysts, despite the fact that the company outperformed analyst consensus in its June report due to weaker-than-expected guidance.
Analyst Ben Alaimo outlined the bull case by pointing to the company’s good margins and growth, although the Wall Street consensus recommendation on ADBE remained a Buy.
- Estimates of EPS by Consensus: $3.35
- Estimates of Revenue as a Whole: $4.44B
- Earnings Insight: For eight consecutive quarters, Adobe has outperformed both EPS and revenue projections.
Friday, September 16th
There are no verified earnings reports due on September 16 as of yet, but according to Seeking Alpha’s earnings calendar forecasts, S&W Seed (NASDAQ:SANW), Apogee Industries (NASDAQ:APOG), and Paramount Gold Nevada (NYSEAMERICAN:PZG) are scheduled to report.
Featured Image- Megapixl @Wolterk