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Major Companies to Release Quarterly Earnings

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The week ahead is packed with excitement, as major companies are set to disclose their quarterly figures, offering investors insights into various sectors.

The financial sector continues to take the spotlight with Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) prepared to share their results. This week also promises insights into the broader banking industry in the U.S. as regional banks get ready to present their performance, providing a comprehensive view of the segment as 2024 gets underway.

Beyond financials, industrial heavyweights like Alcoa (NYSE:AA) and PPG Industries (NYSE:PPG), as well as energy giants Kinder Morgan (NYSE:KMI) and Schlumberger (NYSE:SLB), are slated to release their results.

Semiconductor behemoth Taiwan Semiconductor (NYSE:TSM) will also contribute to the flurry of earnings announcements this week.

Below is a rundown of major quarterly updates anticipated in the week of January 15โ€“19:

Tuesday, January 16

Sought-After Goldman Sachs Earnings (GS)

Following a series of bank earnings reported at the end of the previous week, Goldman Sachs is set to release its quarterly results before the opening bell on Tuesday. Analysts expect Y/Y growth in both EPS and revenue. Wall Street analysts rate it as a Buy, while the Seeking Alpha Quant Rating system suggests a Hold.

CFRA analyst Kenneth Leon notes that the bank is โ€œconfidentโ€ it can achieve โ€œthrough-the-cycleโ€ targets in the mid-teens return on equity. โ€œGS is gaining scale in Asset & Wealth Management, but segment growth cannot offset weak Global Banking and Markets trading,โ€ he said. Goldmanโ€™s challenges include โ€œexecuting on the exit of the consumer bank businesses and higher technology investments.โ€

โ€œGoldman Sachs displays resilience in a competitive financial landscape through effective debt management and robust financial positions,โ€ writes SA author The Beginner Investor.

  • Consensus EPS Estimates: $40.27
  • Consensus Revenue Estimates: $10.96B
  • Earnings Insight: Goldman Sachs has beaten revenue expectations in 6 of the past 8 quarters, missing EPS estimates 50% of time in that span.

Also reporting: Morgan Stanley (MS), The PNC Financial Services Group (PNC), Calavo Growers (CVGW), Fulton Financial (FULT), Hancock Whitney (HWC), Interactive Brokers (IBKR), Pinnacle Financial (PNFP), Progress Software (PRGS), and more.

Wednesday, January 17

Alcoaโ€™s Anticipated Q4 Earnings (AA)

Alcoa is slated to release its Q4 earnings after the closing bell on Wednesday. A stock that has dropped by more than 40% in the last 12 months is likely to attract a cautious approach from the market. This cautious sentiment is reflected in both the Hold rating from sell-side analysts and a similar Hold rating from the Quant Rating system on Seeking Alpha.

Last month, Alcoa revealed its expectation of a Q4 benefit of between $35M and $40M, or $0.20 to $0.22 per share, in its cost of goods sold, attributed to the Treasury departmentโ€™s guidance on Section 45X of the Advanced Manufacturing Tax Credit. This benefit is linked to Alcoaโ€™s Massena and Warrick smelters.

Additionally, the company disclosed its plan to record a valuation allowance on certain deferred tax assets in Brazil, leading to a Q4 tax expense charge of $140M to $150M, or $0.78 to $0.84 per share. Approximately $100M of this charge is discrete, resulting in a net loss of $40M to $50M, or an impact on adjusted loss per share ranging from $0.22 to $0.28 during Q4.

  • Consensus EPS Estimates: $-0.85
  • Consensus Revenue Estimates: $2.58B
  • Earnings Insight: Alcoa has beaten EPS estimates in 4 of the past 8 quarters, revenue expectations 3 times in that span.

Also reporting: Charles Schwab (SCHW), Citizens Financial Group (CFG), H.B. Fuller (FUL), Synovus (SNV), Wintrust Financial (WTFC), Prologis (PLD), U.S. Bancorp (USB), Kinder Morgan (KMI), Discover Financial Services (DFS), and more.

Thursday, January 18

Anticipated Earnings from Taiwan Semiconductor Manufacturing (TSM)

Taiwan Semiconductor Manufacturing is due to release its Q4 earnings on Thursday. Analysts anticipate a Y/Y decline in both the top and bottom lines.

While Wall Street analysts give the stock a Strong Buy recommendation, the quant rating system on Seeking Alpha suggests a Hold. TSM receives an A+ for profitability, but that factor is offset by a D+ for growth and a C and a C+ for valuation and momentum, respectively.

โ€œTSMCโ€™s advanced chips are crucial for multiple industries and their dominance is likely to increase in the future,โ€ emphasizes Tangerine Capital, a Seeking Alpha author, expressing a bullish outlook on the stock.

  • Consensus EPS Estimates: $1.35
  • Consensus Revenue Estimates: $19.78B
  • Earnings Insight: TSMC has beaten EPS expectations in 8 consecutive quarters, missing revenue estimates only twice in that span.

Also reporting: Fastenal (FAST), First Horizon (FHN), Home Bancshares (HOMB), KeyCorp (KEY), M&T Bank (MTB), Northern Trust (NTRS), Texas Capital (TCBI), WNS (WNS) Bank OZK (OZK), F.N.B Corp. (FNB), J.B. Hunt Transport (JBHT), PPG Industries (PPG), and more.

Friday, January 19

Schlumbergerโ€™s Q4 Earnings (SLB)

Schlumberger, the largest oilfield service company globally, is set to unveil its Q4 earnings during premarket hours on Friday.

According to SA author Richard Durant, Schlumberger could experience positive outcomes from investments in offshore and international markets, even in the face of a softer oil market. However, economic weakness in Europe and China, along with OPEC supply cuts, pose threats. Despite these risks, Schlumberger should perform well if economic conditions remain resilient, the analyst said.

  • Consensus EPS Estimates: $0.83
  • Consensus Revenue Estimates: $8.94B
  • Earnings Insight: Schlumberger has beaten EPS estimates in 8 consecutive quarters, missing revenue estimates only twice in that timeframe.

Also reporting: Ally Financial (ALLY), Comerica (CMA), Fifth Third (FITB), Huntington Bancshares (HBAN), Regions Financial (RF), State Street (STT), Travelers (TRV), and more.

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