In this article, we will take a look at the 10 most anticipated earnings to watch on Wednesday. If you want to see some more companies reporting earnings this week, go directly to the 5 Most Anticipated Earnings to Watch on Wednesday.
The second-quarter earnings season began last week, with financial stocks being the first to post their results. Moving forward, investors are eagerly waiting for some of the most anticipated earnings reports.
Electric vehicle giant Tesla, Inc. (NASDAQ:TSLA), health care giant Abbott Laboratories (NYSE:ABT) and biotechnology firm Biogen Inc. (NASDAQ:BIIB), are among the notable stocks reporting earnings this week. In addition, investors are also eyeing Crown Castle International Corp. (NYSE:CCI) and Alcoa Corporation (NYSE:AA), as they prepare to post their second-quarter results.
Now, let’s review what industry experts and analysts expect from these companies.
10. United Airlines Holdings, Inc. (NASDAQ:UAL)
Number of Hedge Fund Holders: 31
United Airlines Holdings, Inc. (NASDAQ:UAL) is set to release its financial results for the second quarter after the closing bell on Wednesday, July 20, 2022. It will be the second major airline to post Q2 results after Delta Air Lines.
Delta announced mixed financial results for the second quarter last week. Its adjusted earnings fell short of estimates. However, its sales exceeded analysts’ average estimates. Some industry experts expect similar performance from United Airlines Holdings, Inc. (NASDAQ:UAL).
In its previous quarterly report, United Airlines Holdings, Inc. (NASDAQ:UAL) expressed optimism about turning a profit in the second quarter. Meanwhile, analysts expect United Airlines Holdings, Inc. (NASDAQ:UAL) to report earnings of $1.83 per share on revenue of $12.1 billion for Q2.
9. Las Vegas Sands Corp. (NYSE:LVS)
Number of Hedge Fund Holders: 39
Las Vegas Sands Corp. (NYSE:LVS) will post its second-quarter results after the market closes on Wednesday, July 20, 2022. The company reported a wider-than-expected loss for the first quarter of 2022.
However, Las Vegas Sands Corp. (NYSE:LVS) is expected to reduce its losses in the second quarter due to an ease in pandemic-related restrictions. Analysts expect the casino and resort company to report a loss of 26 cents per share, narrower than 40 cents per share in the prior quarter.
Moreover, asset management firm Baron Funds also expressed optimism over the growth prospects of Las Vegas Sands Corp. (NYSE:LVS) in its first-quarter 2022 investor letter published earlier this year. Here’s what the firm said:
“Following a 50%-plus decline in the share price of Las Vegas Sands Corporation from its 2021 peak share price of $67 to $34, we began acquiring shares of this global leader in the development and operation of luxury casino resorts in the fourth quarter of 2021 and continued to acquire shares in the most recent quarter. We believe Las Vegas Sands’ market-leading resorts in Macau and Singapore position the company for strong growth when travel and tourism spending rebounds. Las Vegas Sands maintains a liquid and investment grade balance sheet and is currently valued at a significant discount to our assessment of replacement cost.”
8. Baker Hughes Company (NASDAQ:BKR)
Number of Hedge Fund Holders: 39
Baker Hughes Company (NASDAQ:BKR), one of the leading oil field services companies, will discuss its second-quarter results on Wednesday, July 20, 2022. Analysts expect Baker Hughes Company (NASDAQ:BKR) to post earnings of 22 cents per share on revenue of $5.34 billion.
The outlook compares with the adjusted earnings of 10 cents per share and revenue of $5.1 billion Baker Hughes Company (NASDAQ:BKR) reported for the comparable period of 2021.
Last month, investment management firm Carillon Tower Advisers discussed Baker Hughes Company (NASDAQ:BKR) in its first-quarter 2022 investor letter. The firm thinks that Baker Hughes will capitalize on the higher capital expenditures in the oil industry and the development of liquefied natural gas (LNG) infrastructure across Europe.
7. Kinder Morgan, Inc. (NYSE:KMI)
Number of Hedge Fund Holders: 40
Kinder Morgan, Inc. (NYSE:KMI) is one of the biggest energy infrastructure companies in the U.S. It owns and operates pipelines and terminals used for transporting crude oil and natural gas, among other products.
The Texas-based energy company is scheduled to post its second-quarter result after the closing bell on Wednesday, July 20, 2022. Kinder Morgan, Inc. (NYSE:KMI) is expected to report earnings of 27 cents per share on revenue of $4.33 billion. This compares to adjusted earnings of 23 cents per share and revenue of $3.15 billion reported by the company for the second quarter of 2021.
Like Kinder Morgan, Inc. (NYSE:KMI), investors are also closely watching Tesla, Inc. (NASDAQ:TSLA), Abbott Laboratories (NYSE:ABT) and Biogen Inc. (NASDAQ:BIIB), as they prepare to report their earnings reports this week.
6. Lithia Motors, Inc. (NYSE:LAD)
Number of Hedge Fund Holders: 46
Lithia Motors, Inc. (NYSE:LAD) plans to release its second-quarter results before the opening bell on Wednesday, July 20, 2022. Analysts expect the Oregon-based automotive dealership group to earn $12.06 per share on sales of $7.29 billion.
Some industry experts expect the inflationary pressure to weigh on the second-quarter results of Lithia Motors, Inc. (NYSE:LAD). For instance, JPMorgan analyst Rajat Gupta thinks that the company’s Q2 performance will mirror lower new vehicle sales.
Gupta also cut his price target for Lithia Motors, Inc. (NYSE:LAD) from $380 per share to $325 per share on Friday, July 15, 2022. Shares of Lithia Motors, Inc. (NYSE:LAD) are currently trading around $283. The company’s share price has slipped about 5 percent so far in 2022.
Click to continue reading and see 5 Most Anticipated Earnings to Watch on Wednesday.
Suggested articles:
- 10 Best Electric Utility Stocks To Invest In
- Billionaire Ken Griffin is Selling These 10 Stocks in 2022
- 10 Small-Cap Stocks to Buy According to Ken Fisher
Disclosure: None. 10 Most Anticipated Earnings to Watch on Wednesday is originally published on Insider Monkey.
