Earnings 2/27/23-3/3/23

[Josh]

Details

fuboTV (FUBO) is confirmed to report earnings on Monday, February 27, 2023 at approximately 8:00 AM ET. The consensus estimate is a loss of $0.76 per share on revenue of $285.37 million, respresenting 23.5% year-over-year revenue growth, and the Earnings Whisper ® number is a loss of $0.80 per share. Investors are bearish going into the company’s earnings release but with 58.5% expecting a beat. Short interest has decreased by 1.9% since the company’s last earnings release while the stock has drifted lower by 33.5% from its open following the earnings release to be 24.2% below its 200 day moving average of $3.06. Overall earnings estimates have been revsied higher since the company’s last earnings release. Option Traders are pricing in a 26.3% move on earnings and the stock has averaged a 11.8% move in recent quarters.

NIO is Scheduled to Report on Wednesday, March 1, 2023

NIO (NIO) is confirmed to report earnings on Wednesday, March 1, 2023 at approximately 5:00 AM ET. on revenue of $7.03 billion, respresenting 352.5% year-over-year revenue growth. The company’s guidance was for revenue of $2.44 billion to $2.70 billion. Investors are bullish going into the company’s earnings release with 64.9% expecting a beat. Short interest has increased by 40.9% since the company’s last earnings release while the stock has drifted lower by 9.7% from its open following the earnings release to be 39.0% below its 200 day moving average of $15.24. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 11.7% move on earnings and the stock has averaged a 6.2% move in recent quarters.

Norwegian Cruise Line Holdings is Expected to Beat Estimates

Norwegian Cruise Line Holdings (NCLH) is confirmed to report earnings on Tuesday, February 28, 2023 at approximately 7:30 AM ET. The consensus estimate is a loss of $0.94 per share on revenue of $1.50 billion, respresenting 207.7% year-over-year revenue growth, and the Earnings Whisper ® number is a loss of $0.87 per share. The company’s guidance was for revenue of $1.40 billion to $1.50 billion. Investors are bullish going into the company’s earnings release with 68.8% expecting a beat. Short interest has decreased by 1.0% since the company’s last earnings release while the stock has drifted lower by 3.7% from its open following the earnings release to be 14.2% above its 200 day moving average of $14.36. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 7.5% move on earnings and the stock has averaged a 3.5% move in recent quarters.

Target is Expected to Miss Estimates

Target (TGT) is confirmed to report earnings on Tuesday, February 28, 2023 at approximately 6:30 AM ET. The consensus earnings estimate is $1.39 per share on revenue of $30.71 billion, a decline of 0.9% year-over-year, and the Earnings Whisper ® number is $1.36 per share. Investors are bearish going into the company’s earnings release but with 44.3% expecting a beat. Short interest has increased by 4.1% since the company’s last earnings release while the stock has drifted higher by 11.4% from its open following the earnings release to be 4.4% above its 200 day moving average of $159.97. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 8.8% move on earnings and the stock has averaged a 9.7% move in recent quarters.

Wendy’s International is Expected to Beat Estimates

Wendy’s International (WEN) is confirmed to report earnings on Wednesday, March 1, 2023 at approximately 7:00 AM ET. The consensus earnings estimate is $0.20 per share on revenue of $533.79 million, respresenting 12.8% year-over-year revenue growth, and the Earnings Whisper ® number is $0.23 per share. Investors are bullish going into the company’s earnings release with 52.1% expecting a beat. Short interest has decreased by 18.6% since the company’s last earnings release while the stock has drifted higher by 10.5% from its open following the earnings release to be 8.1% above its 200 day moving average of $20.82. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 6.1% move on earnings and the stock has averaged a 4.5% move in recent quarters.

Occidental Petroleum is Expected to Beat Estimates

Occidental Petroleum (OXY) is confirmed to report earnings on Monday, February 27, 2023 at approximately 4:15 PM ET. The consensus earnings estimate is $1.83 per share on revenue of $8.66 billion, respresenting 8.1% year-over-year revenue growth, and the Earnings Whisper ® number is $2.03 per share. Investors are bearish going into the company’s earnings release but with 79.3% expecting a beat. Short interest has decreased by 5.8% since the company’s last earnings release while the stock has drifted lower by 18.8% from its open following the earnings release to be 9.0% below its 200 day moving average of $64.79. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 6.0% move on earnings and the stock has averaged a 3.5% move in recent quarters.

Berkshire Hathaway is Expected to Beat Estimates

Berkshire Hathaway (BRK.B) is confirmed to report earnings on Monday, February 27, 2023 at approximately 8:00 AM ET. The consensus earnings estimate is $3.31 per share, and the Earnings Whisper ® number is $3.79 per share. Investors are bullish going into the company’s earnings release with 65.0% expecting a beat. The stock is 3.4% above its 200 day moving average of $294.05. Overall earnings estimates have been revsied higher since the company’s last earnings release. Option Traders are pricing in a 2.4% move on earnings.

Li Auto is Expected to Miss Estimates

Li Auto (LI) is confirmed to report earnings on Monday, February 27, 2023 at approximately 3:30 AM ET. The consensus earnings estimate is $0.04 per share on revenue of $2.58 billion, respresenting 54.8% year-over-year revenue growth, and the Earnings Whisper ® number is $0.02 per share. The company’s guidance was for revenue of $2.32 billion to $2.47 billion. Investors are bearish going into the company’s earnings release but with 59.3% expecting a beat. Short interest has decreased by 8.3% since the company’s last earnings release while the stock has drifted higher by 3.0% from its open following the earnings release to be 12.3% below its 200 day moving average of $26.50. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 10.3% move on earnings and the stock has averaged a 4.3% move in recent quarters.

Rivian Automotive is Expected to Beat Estimates

Rivian Automotive (RIVN) is confirmed to report earnings on Tuesday, February 28, 2023 at approximately 4:10 PM ET. The consensus estimate is a loss of $1.89 per share on revenue of $746.38 million, respresenting 1,282.2% year-over-year revenue growth, and the Earnings Whisper ® number is a loss of $1.87 per share. Investors are bullish going into the company’s earnings release with 48.4% expecting a beat. Short interest has decreased by 8.9% since the company’s last earnings release while the stock has drifted lower by 47.3% from its open following the earnings release to be 39.1% below its 200 day moving average of $28.46. Overall earnings estimates have been revsied higher since the company’s last earnings release. Option Traders are pricing in a 15.9% move on earnings and the stock has averaged a 10.7% move in recent quarters.

AMC Entertainment is Expected to Miss Estimates

AMC Entertainment (AMC) is confirmed to report earnings on Tuesday, February 28, 2023 at approximately 4:15 PM ET. The consensus estimate is a loss of $0.20 per share on revenue of $1.01 billion, a decline of 13.8% year-over-year, and the Earnings Whisper ® number is a loss of $0.22 per share. Investors are bearish going into the company’s earnings release but with 52.6% expecting a beat. Short interest has increased by 13.3% since the company’s last earnings release while the stock has drifted higher by 15.5% from its open following the earnings release to be 35.2% below its 200 day moving average of $9.57. Overall earnings estimates have been revsied lower since the company’s last earnings release. Option Traders are pricing in a 21.1% move on earnings and the stock has averaged a 8.4% move in recent quarters.

[jjcox82]

Wanted to put this up in regard to RIVN for longer term play. Not necessarily this week. But based off their ER.

The fact that their total deliveries was substantially less than their production is a major red flag in the EV space. They run with a build to order structure. Basically in simple terms they build what’s been ordered. The fact that they had so much stagnant builds with no dealer network to unload them on like legacy ICE manufacturers do is not good. Especially with small amount of margin they have as a relative startup. It would likely lead to a couple things either large discounts to move the unsold builds or simply sitting on production.

Both of these scenarios lead to increased losses.

Second thing I noticed here was big time cash burn. Almost 2 billion in one quarter…. With revenue of 660 million. Essentially means they burned 3 quarters worth of revenue in 1 quarter. 2023 is not going to get any better IMO. You have 100k dollar cars and auto rates approaching 6-7 percent and EV demand starting to stagnate in an over crowded sector now. Essentially the EV sector is becoming what the ICE segment has always been. Competition which always breeds success. The stronger more competitive models will excel and the weak will fold. They basically have 6 quarters at their current burn rates of sustainability.

Typically the bullish argument here is they are trading at cash etc. well the cash is burning at way faster rate the return. I think they have an awesome product the R1S especially as a large SUV segment mostly untapped in EV. But not sure how they can sustain their current levels.

Id be looking at leaps here expecting a continual decline for the most of this year. Might look towards some January of 2024 10p in my long term account. As I feel they are on same level as a LCID just too many headwinds with these guys.

[Josh]

CRM PT’s from today

@PaperhandsJB looks like we are at a decent resistance line right now yeah?