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Earnings season is always an exciting time to be an investor, with companies pulling back the curtains and unveiling what’s transpired behind the scenes.
The cycle will really pick up now that the big banks have posted their results.
As of January 12th, 2023, Q4 earnings for the S&P 500 are expected to be up +0.1% on +2.2% higher revenues.
This week, there are several notable reports scheduled to hit the tape, including those from Morgan Stanley (MS - Free Report) , PPG Industries (PPG - Free Report) , and Taiwan Semiconductor (TSM - Free Report) . But how do expectations stack up heading into the releases? Let’s take a closer look.
Morgan Stanley
Morgan Stanley is a leading financial services holding company serving corporations, governments, financial institutions, and individuals worldwide. The company has been a consistent earnings performer as of late, exceeding our consensus revenue and earnings expectations in four consecutive releases.
Analysts have been bearish for the upcoming release, with the current $1.07 Zacks Consensus EPS Estimate down nearly 15% since October last year. The value reflects an 18% pullback from the year-ago period.
Image Source: Zacks Investment Research
Top line revisions haven’t been as pronounced but are still present, with the $12.7 billion in quarterly revenue expected down nearly 3% from the initial $13 billion expected in October 2023. The top line looks to remain flat, with the estimate reflecting a marginal 0.4% pullback year-over-year.
Image Source: Zacks Investment Research
PPG Industries
PPG Industries is a global supplier of paints, coatings, chemicals, specialty materials, glass, and fiberglass. The stock is currently a Zacks Rank #4 (Sell).
The company’s quarterly results have been somewhat mixed, falling short of revenue expectations in two of its last four releases. Still, PPG has exceeded the Zacks Consensus EPS Estimate in each instance, with the average beat totaling nearly 9%.
Shares faced pressure following its latest release but rebounded quickly, as shown below.
Image Source: Zacks Investment Research
Analysts haven’t moved their expectations much for the quarter to be released, with the $1.50 Zacks Consensus EPS Estimate 0.7% higher since last October and reflecting year-over-year growth of 22%. Top line revisions have been primarily absent as well, as the $4.3 billion expected is down a fractional 0.6% over the same period and reflecting 2% year-over-year growth.
Taiwan Semiconductor
Taiwan Semiconductor is the world’s largest integrated circuit foundry. The company has consistently exceeded the Zacks Consensus EPS Estimate, chaining together 12 consecutive bottom line beats.
The green arrows in the chart below illustrate the company’s consistent bottom line beats.
Image Source: Zacks Investment Research
Analysts have been silent for the quarter to be released, with the $1.34 Zacks Consensus EPS Estimate unchanged since last October. Top-line revisions have been bullish, though, as the $19 billion in quarterly sales expected is 4% higher over the same period. Earnings and revenue are forecasted to decline by 26% and 5%, respectively.
Image Source: Zacks Investment Research
Bottom Line
Earnings season is in full swing, with several companies gearing up to unveil quarterly results this week. A few notable companies on the reporting docket this week include Morgan Stanley (MS - Free Report) , PPG Industries (PPG - Free Report) , and Taiwan Semiconductor (TSM - Free Report) .
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3 Quarterly Releases to Watch This Week
Earnings season is always an exciting time to be an investor, with companies pulling back the curtains and unveiling what’s transpired behind the scenes.
The cycle will really pick up now that the big banks have posted their results.
As of January 12th, 2023, Q4 earnings for the S&P 500 are expected to be up +0.1% on +2.2% higher revenues.
This week, there are several notable reports scheduled to hit the tape, including those from Morgan Stanley (MS - Free Report) , PPG Industries (PPG - Free Report) , and Taiwan Semiconductor (TSM - Free Report) . But how do expectations stack up heading into the releases? Let’s take a closer look.
Morgan Stanley
Morgan Stanley is a leading financial services holding company serving corporations, governments, financial institutions, and individuals worldwide. The company has been a consistent earnings performer as of late, exceeding our consensus revenue and earnings expectations in four consecutive releases.
Analysts have been bearish for the upcoming release, with the current $1.07 Zacks Consensus EPS Estimate down nearly 15% since October last year. The value reflects an 18% pullback from the year-ago period.
Image Source: Zacks Investment Research
Top line revisions haven’t been as pronounced but are still present, with the $12.7 billion in quarterly revenue expected down nearly 3% from the initial $13 billion expected in October 2023. The top line looks to remain flat, with the estimate reflecting a marginal 0.4% pullback year-over-year.
Image Source: Zacks Investment Research
PPG Industries
PPG Industries is a global supplier of paints, coatings, chemicals, specialty materials, glass, and fiberglass. The stock is currently a Zacks Rank #4 (Sell).
The company’s quarterly results have been somewhat mixed, falling short of revenue expectations in two of its last four releases. Still, PPG has exceeded the Zacks Consensus EPS Estimate in each instance, with the average beat totaling nearly 9%.
Shares faced pressure following its latest release but rebounded quickly, as shown below.
Image Source: Zacks Investment Research
Analysts haven’t moved their expectations much for the quarter to be released, with the $1.50 Zacks Consensus EPS Estimate 0.7% higher since last October and reflecting year-over-year growth of 22%. Top line revisions have been primarily absent as well, as the $4.3 billion expected is down a fractional 0.6% over the same period and reflecting 2% year-over-year growth.
Taiwan Semiconductor
Taiwan Semiconductor is the world’s largest integrated circuit foundry. The company has consistently exceeded the Zacks Consensus EPS Estimate, chaining together 12 consecutive bottom line beats.
The green arrows in the chart below illustrate the company’s consistent bottom line beats.
Image Source: Zacks Investment Research
Analysts have been silent for the quarter to be released, with the $1.34 Zacks Consensus EPS Estimate unchanged since last October. Top-line revisions have been bullish, though, as the $19 billion in quarterly sales expected is 4% higher over the same period. Earnings and revenue are forecasted to decline by 26% and 5%, respectively.
Image Source: Zacks Investment Research
Bottom Line
Earnings season is in full swing, with several companies gearing up to unveil quarterly results this week. A few notable companies on the reporting docket this week include Morgan Stanley (MS - Free Report) , PPG Industries (PPG - Free Report) , and Taiwan Semiconductor (TSM - Free Report) .