{"id":58557,"date":"2023-05-09T21:01:05","date_gmt":"2023-05-10T01:01:05","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=58557"},"modified":"2023-05-09T21:01:33","modified_gmt":"2023-05-10T01:01:33","slug":"market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/","title":{"rendered":"Market Anticipation Builds as 3 Key Companies Prepare to Announce Earnings"},"content":{"rendered":"

Corporate America was bracing itself to report the biggest drop in earnings since the pandemic began three years ago, with profits for S&P 500 companies expected to fall by as much as 8% due to inflation, increased borrowing costs, and other headwinds.<\/p>\n

However, businesses appear to be blowing past these low expectations, with 77% of reports beating analysts' estimates, with reported earnings being 7.2% above expectations.<\/p>\n

A relatively weak dollar due to the trend of de-dollarization gaining momentum and the looming crisis over raising the debt ceiling due to political differences regarding government expenditure on both sides of the aisle might also have been unwitting tailwinds that have helped the likes of Apple Inc. (AAPL)<\/a> keep the mood buoyant on the Street<\/p>\n

After reporting stronger-than-expected results, the tech giant\u2019s shares surged by 4.8% on May 5.<\/p>\n

However, the first quarter still would mark a second straight quarterly fall for U.S. corporate earnings after COVID-19 hit corporate results in 2020.
\nGiven this backdrop, let\u2019s look at the prospects of three stocks ahead of their earnings release this week.<\/p>\n

<\/div>\n

The Walt Disney Company (DIS)<\/a><\/p>\n

DIS has recently been in the news for being on a legal collision course with Florida Governor Ron DeSanctis. Differences between the company and the governor began with DIS\u2019 opposition to the Parental Rights in Education Act, which prohibits lessons on sexual orientation and gender identity in public schools through the third grade.<\/p>\n

In an alleged retaliation, the Florida Senate approved the Disney Special Tax-District Bill, which would seek to move the control of the Reedy Creek district from the company back to the state. DIS has expanded the lawsuit contesting this move to include new regulations passed by the state\u2019s legislature that allow officials to nullify development agreements brokered by the company.<\/p>\n

Outside the political and legal arena, DIS is going through a significant transition under the leadership of its returned CEO, Robert A. Iger, to give the company\u2019s content executives more power and emphasize sports media more.<\/p>\n

Ahead of its earnings release for the second quarter of fiscal year 2023, analysts expect the global entertainment giant\u2019s revenue to increase by 13.2% year-over-year to $21.80 billion. However, its quarterly EPS is expected to come in at $0.94, down 13% year-over-year.<\/p>\n

STERIS plc (STE)<\/a><\/p>\n

STE provides infection prevention and other procedural products and services through four segments: Healthcare; Applied Sterilization Technologies; Life Sciences; and Dental.<\/p>\n

On May 3, STE announced a $500 million share repurchase authorization and a quarterly interim dividend of $0.47 per share, payable on June 28, 2023, to shareholders of record at the close of business on June 14, 2023. While demonstrating the management\u2019s confidence in the company\u2019s prospects, share repurchases would also positively impact EPS in the upcoming quarters.<\/p>\n

Ahead of its fourth-quarter earnings release on May 11, analysts expect STE\u2019s revenue and EPS for the period to increase by 5% and 5.4% year-over-year to $1.27 billion and $2.15, respectively.<\/p>\n

<\/div>\n

For the fiscal year 2023, revenue and EPS are expected to increase 5.7% and 1.6% year-over-year to $4.85 and $8.05, respectively.<\/p>\n

Revvity, Inc. (PKI)<\/a><\/p>\n

PKI\u2019s offerings cater to diagnostics, life sciences, and applied markets through two segments: Discovery & Analytical Solutions and Diagnostics.
\nMay 9 marked the official launch of PKI as a science-based solutions company aimed at revolutionizing next-generation scientific breakthroughs that solve the world\u2019s greatest health challenges. The company would begin trading as RVTY from May 16 onwards.<\/p>\n

Ahead of its earnings release on May 11, analysts expect PKI\u2019s revenue and EPS to decline by 46.1% and 57.7% year-over-year to $678.61 million and $1.02, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

Corporate America was bracing itself to report the biggest drop in earnings since the pandemic began three years ago, with profits for S&P 500 companies expected to fall by as much as 8% due to inflation, increased borrowing costs, and other headwinds. However, businesses appear to be blowing past these low expectations, with 77% of […]<\/p>\n","protected":false},"author":41,"featured_media":50981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[9516,32105,32104,30961],"class_list":["post-58557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-apple-inc-aapl","tag-corporate-america","tag-steris-plc-ste","tag-the-walt-disney-company-dis"],"yoast_head":"\nMarket Anticipation Builds as 3 Key Companies Prepare to Announce Earnings - INO.com Trader's Blog<\/title>\n<meta name=\"description\" content=\"With the \u201cearnings recession\u201d turning out to be less severe than expected, let\u2019s see what\u2019s expected from DIS, STE, and PKI\u2019s quarterly results this week\u2026\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Anticipation Builds as 3 Key Companies Prepare to Announce Earnings - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"With the \u201cearnings recession\u201d turning out to be less severe than expected, let\u2019s see what\u2019s expected from DIS, STE, and PKI\u2019s quarterly results this week\u2026\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader's Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-10T01:01:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-10T01:01:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2019\/11\/disney-plus.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The INO.com Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The INO.com Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"Market Anticipation Builds as 3 Key Companies Prepare to Announce Earnings\",\"datePublished\":\"2023-05-10T01:01:05+00:00\",\"dateModified\":\"2023-05-10T01:01:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/\"},\"wordCount\":581,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2023\/05\/market-anticipation-builds-as-3-key-companies-prepare-to-announce-earnings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2019\/11\/disney-plus.jpg\",\"keywords\":[\"Apple Inc. 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