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US Earnings Week Ahead: Walt Disney, Uber, and Pepsi Co.

By Kyle Rodda

16:24, 2 February 2024

The last of the Magnificent Seven have reported, delivering mixed results. Meanwhile, according to FactSet, the S&P 500 is set for negative earnings growth for Q4, with estimates for the next quarter also downgraded. 

US earnings season rolls on in the week ahead, with Walt Disney Co., Uber, and Pepsi amongst the most prominent names due to report results.

Walt Disney Co. (DIS)

Walt Disney Co. reports after the market closes on Wednesday, February 7th. According to Bloomberg data, analysts expect earnings to rise 2.4% to $1.01 per share, off a modest 1.3% in the top line.

Walt Disney’s performance is expected to be driven by a slowdown in its parks and recreation business as activity normalises and consumers reign in spending following the post-pandemic surge. Investors may also home in on issues regarding the company's strategic direction after it reinstated former CEO Bob Iger last year, replacing successor Bob Chapek. Some activist investors continue to agitate for executive change amidst disarray about the business's recent performance.

(Past performance is not a reliable indicator of future results)

Uber Inc. (UBER)

Uber Inc. delivers results before the opening bell on Wednesday, February 7th. Bloomberg data suggests analysts expect EPS to fall 42% from a year earlier to $0.17 per share.

The market remains upbeat on the outlook for Uber, with the company maintaining its market dominance and benefitting from continued growth in customer mobility, especially amidst strong services activity in the United States. Solid uptake in delivery services may continue as consumers trade down from dining out to dining in.

A revival in tech stocks and renewed bullishness about the outlook for Uber have recently pushed the company’s share price to fresh all-time highs.

(Past performance is not a reliable indicator of future results)

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Pepsi Co. (PEP)

Pepsi Co. will post quarterly earnings before the market opens on Friday, February 9th. Bloomberg data indicates analysts estimate modest earnings and revenue growth of 3.1% and 1.6%, respectively, with EPS forecast to be $1.72 per share.

Despite modest growth, Bloomberg surveys suggest brokers are generally upbeat about Pepsi Co. shares. Although operating in an environment of stubbornly higher costs and softening consumer demand, Pepsi’s disciplined cost management, pricing power, and its suite of staple products are tipped to support solid financial performance.

Pepsi’s shares display a long-term uptrend; however, it remains off record levels as upside momentum slows.

(Past performance is not a reliable indicator of future results)

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