3 Quarterly Releases to Watch Next Week


The 2023 Q4 earnings season continues to chug along, with this week’s reporting docket notably busy. The period has primarily been positive so far, supported by the technology sector’s strong performance and growth.

And next week, the party continues, with another fresh slate of companies scheduled to unveil quarterly results. Concerning a few notable names, The Coca-Cola Co. KO, Crocs CROX, and Airbnb ABNB are all on the docket. Crocs reports on 2/15, and Coca-Cola and Airbnb report on 2/13.

Both ABNB and CROX shares have outperformed relative to the S&P 500 in 2024, whereas KO shares have seen slight positivity.

Image Source: Zacks Investment Research

But how do expectations stack up heading into the releases? Let’s take a closer look.

Coca-Cola

A peer of KO, PepsiCo PEP, recently unveiled its quarterly results, with shares facing selling pressure following the release. Concerning headline numbers for PEP, the company posted a 3.5% beat relative to the Zacks Consensus EPS estimate and fell short of revenue expectations.

The unfavorable reaction PEP shares saw post-earnings is likely a reflection of slowing growth as consumer spending behavior shifts back to pre-pandemic norms. Still, PEP expects its categories to perform well throughout 2024, with the company also announcing a 7% boost to its quarterly payout.

Analysts have been silent about headline expectations for Coca-Cola, with the $0.48 per share consensus estimate unchanged since last November and reflecting 7% growth. Revenue expectations have also primarily remained stagnant, expected to climb 5% from the year-ago period.

Below is a chart illustrating the company’s revenue on a quarterly basis.

Zacks Investment Research
Image Source: Zacks Investment Research

Coca-Cola’s earnings consistency shouldn’t be overlooked, exceeding both consensus EPS and revenue expectations regularly. Shares got a solid boost post-earnings following its latest release, snapping a streak of back-to-back adverse reaction prior.

Zacks Investment Research
Image Source: Zacks Investment Research

Consumer spending habits will be highly watched within KO’s report, with margins also remaining critical.

Airbnb

Airbnb’s leading platform provides a marketplace for connecting hosts and guests online or through mobile devices to book spaces and experiences. Analysts have taken their expectations lower for the quarter to be reported, with the $0.67 per share consensus estimate down 4% since last November.

Earnings growth looks to remain robust, as the value suggests a 40% climb year-over-year.

Zacks Investment Research
Image Source: Zacks Investment Research

Concerning Airbnb, Gross Booking Value (GBV) and Nights and Experiences Booked are two key metrics investors focus on. Regarding GBV, the Zacks Consensus Estimate presently stands at $15.1 billion, suggesting growth of 12% year-over-year.

As shown below, ABNB has consistently posted favorable GBV results as of late, beating consensus expectations in three consecutive releases.

Zacks Investment Research
Image Source: Zacks Investment Research

In addition, we expect Nights and Experiences Booked to reach 98 million, an 11% improvement year-over-year. ABNB has fallen short of expectations on this metric as of late.

Zacks Investment Research
Image Source: Zacks Investment Research

While the expected growth is strong, it represents a deceleration from previous quarters.

Crocs

Crocs is one of the leading footwear brands, focusing on comfort and style. Analysts have been notably bullish for the upcoming print, taking the $2.37 Zacks Consensus EPS estimate 8% higher since last November. The value suggests a 10% pullback from the year-ago period.

Zacks Investment Research
Image Source: Zacks Investment Research

Investors will be interested to see how the company’s brands have been performing, including HEYDUDE footwear. The Crocs brand has shown considerable growth, with sales climbing nearly 12% Y/Y throughout its latest period.

For the upcoming release, we expect the company to post $723 million in revenue from its Crocs brand, reflecting growth of 9%. CROX has exceeded this metric consistently as of late.

Zacks Investment Research
Image Source: Zacks Investment Research

Concerning the HEYDUDE brand, the Zacks Consensus estimate of $226 million suggests a decline of nearly 19% from the year-ago period.

Zacks Investment Research
Image Source: Zacks Investment Research

Bottom Line

Earnings season continues at a rapid pace, with a wide variety of companies delivering results daily.

And concerning next week’s docket, three reports to watch out for will come from The Coca-Cola Co. KO, Crocs CROX, and Airbnb ABNB.

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CocaCola Company (The) (KO) : Free Stock Analysis Report

PepsiCo, Inc. (PEP) : Free Stock Analysis Report

Crocs, Inc. (CROX) : Free Stock Analysis Report

Airbnb, Inc. (ABNB) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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