Kiplinger’s Weekly Earnings Calendar (8/10-8/14): CSCO, LMND, NIO

Below is a weekly earnings calendar of the most important upcoming quarterly reports schedule to be released by publicly traded companies. There are also earnings previews for select companies. Please check back often. This earnings calendar is updated weekly.

(Editor’s Note: Many earnings dates are tentative but may be moved due to coronavirus-related concerns. However, companies featured in “Earnings Spotlights” have officially announced their earnings dates.)

Earnings Calendar Highlights

   

MONDAY

Noteworthy Earnings Reports

   

TUESDAY

Earnings Spotlight: Nio

Nio (NIO, $13.42), beset by funding issues and coronavirus issues earlier this year that pulled shares as much as 40% lower, will head into this week’s earnings report (due out before the Aug. 11 open) up some 230% for the year-to-date.

The company’s sales have exploded of late. Nio reported that it delivered 3,533 vehicles in July, up 322% year-over-year, following 3,740 deliveries (+179%) in June. But analysts remain firmly entrenched in the bear camp, with a consensus $7.26 price target that implies 46% downside from current prices.

“Post the 89% share-price rally in the past month, we downgrade NIO to Sell on valuation,” writes Goldman Sachs analyst Fei Fang, who had Nio’s stock as a Buy as recently as June 3. “The current share price reflects over-optimism given no substantial changes to volume/profit expectations.”

Analysts fully expect plenty of growth in the quarter to be reported, with revenues estimated to hit $506.35 million, up 134.9% YoY. Nio also is expected to shrink its net loss from 44 cents per share in the year-ago quarter to 26 cents per share.

Other Noteworthy Reports

   

WEDNESDAY

Earnings Spotlight: Lemonade

Lemonade (LMND, $66.84) is a mobile-based insurance company that only went public last month, with shares surging 139% on its first day of trading. The firm, which uses artificial intelligence and big data to make buying insurance more efficient, has an extremely young user base; people under 35 make up 70% of its users.

For now, the company only offers home and renters insurance in most of the U.S., and liability and contents insurance in the Netherlands and Germany. It plans to expand its offerings and geographic footprint over time.

Like many tech startups, the company is growing; 2018 revenues were $22.5 million, but reached $67.3 million in 2019 and are expected to hit nearly $89 million this year. However, the company’s 2018 net loss of $52.9 million more than doubled to $108.5 million in 2019, and it’s projected to lose about $151 million in 2020.

William Blair, which started LMND shares at Market Perform, writes that “Lemonade has great long-term potential as a leading digital competitor in the rapidly emerging retail property insurance markets,” but that “we are waiting for a better entry point for the shares, given that its share price is up nearly 3.0 times in such a short period and its business model is transitioning from renters to homeowners.”

For its first earnings report, due out before the Aug. 12 open, analysts are looking for a 95-cent-per-share loss on $29.31 million in sales.

Earnings Spotlight: Cisco Systems

Cisco Systems (CSCO, $47.43) hasn’t enjoyed the same updraft that many of its tech brethren have; shares still are slightly underwater for the year to date. The company’s data networking solutions are still heavily reliant on enterprise technology spending, and the still-weak economy and uncertain outlook threaten to continue weighing on that.

JPMorgan Chase analyst Samik Chaterrjee cut CSCO shares from Overweight to Neutral in mid-July on these economic concerns, and also said it wouldn’t be an ideal stock if you believe Joe Biden will win in November’s elections.

“Investors looking to position themselves for a Democratic agenda in the upcoming elections need to embed incremental headwinds to IT budgets, as enterprises look to cost discipline to mitigate earnings headwinds from a potentially higher corporate tax rate, limiting the rebound in Enterprise IT spending in 2021,” he writes.

Meanwhile, Cleveland Research analyst Ben Bollin (Neutral) says his channel checks “point to a disappointing pace of recovery” as companies push back IT investments.

Cisco’s report will come after the Aug. 12 close. Analysts are looking for a 10% decline in revenues to $12.08 billion, and a 10.8% decline in profits to 74 cents per share.

Other Noteworthy Reports

   

THURSDAY

Noteworthy Earnings Reports

   

FRIDAY

Noteworthy Earnings Reports

Reporting schedules provided by Briefing.com and company websites. Earnings estimate data provided by Thomson Reuters via Yahoo! Finance, and FactSet via MarketWatch.