Earnings week ahead: Nike, FedEx, BlackBerry, Micron, Carnival and more

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With the holiday spirit in the air, Wall Street prepares for a constrained earnings calendar next week, with only a short list of high-profile companies set to announce quarterly results in the next several days. Still, the week will see some highlights coming from consumer-facing giants like Nike (NYSE:NKE), General Mills (NYSE:GIS), CarMax (NYSE:KMX) and Carnival Corp. (NYSE:CCL).

Additionally, results from Accenture (NYSE:ACN), BlackBerry (NYSE:BB), FedEx (NYSE:FDX) and semiconductor giant Micron Technology (NASDAQ:MU) are scheduled to be announced throughout the forthcoming week. Below is a rundown of major quarterly updates anticipated in the week of December 18–22:

Monday, December 18

HEICO (NYSE:HEI)

HEICO (HEI) is scheduled to report Q4 earnings after the market closes on Monday, with analysts forecasting an impressive nearly 48% growth in revenue for the quarter. This despite expectations of a year-over-year dip in earnings per share.

The stock is rated a Buy by Wall Street analysts, which contrasts to Seeking Alpha’s Quant Rating system, which has a more cautious approach, giving the stock a Hold.

Dhiren Bechai, an SA investing group leader, expresses optimism about the stock, attributing the positive outlook to HEICO’s strategic acquisition of Wencor Group. Bechai anticipates Q4 revenues of $911.8 million, underscoring the potential positive impact on earnings.

Consensus EPS Estimates: $0.69 Consensus Revenue Estimates: $899.05M Earnings Insight: The company has beaten revenue estimates in 7 of the past 8 quarters and EPS estimates in 6 of those reports.

Also reporting: Quipt Home Medical (NASDAQ:QIPT), 51Talk Online Education Group (NYSE:COE), and more.

Tuesday, December 19

FedEx (FDX)

Memphis-based package delivery giant FedEx (FDX) is due to post its Q2 earnings after the closing bell on Tuesday. FedEx, which gained more than 55% in 2023, gets a Hold rating from SA’s Quant Ratings. Meanwhile, Wall Street analysts maintains a Buy rating.

SA author Albert Anthony expresses bullish sentiments on FDX, citing factors such as earnings and dividend growth, undervaluation and consistent outperformance against the S&P 500.

DeVas Research takes a more cautious stance, pointing out that FedEx’s market cap, nearing $65 billion, may limit its growth potential. The Seeking Alpha author categorized the company as a non-high-growth investment.

The market anticipates an annual earnings growth rate of over 15%, with a PEG ratio of 1.07 and a P/E of around 14.2x, DeVas Research notes, while arguing that this growth rate exceeds historical levels and lacks robust growth drivers.

Consensus EPS Estimates: $4.20 Consensus Revenue Estimates: $22.42B Earnings Insight: FedEx has beaten EPS estimates in 5 of the past 8 quarters, rising above revenue expectations in only 2 of those reports.

Also reporting: Accenture (ACN), FactSet (FDS), FuelCell (FCEL), Steelcase (SCS

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