Earnings week ahead: Disney, AMC, Plug Power, Lucid, Realty Income and more

In the upcoming week of November, investors can anticipate a flurry of quarterly reports from major companies, promising significant market activity.

Notable among them is Disney (NYSE:DIS), a household name set to disclose its financial performance.

Other key players in the reporting lineup include Take-Two Interactive (NASDAQ:TTWO), Roblox (NYSE:RBLX), Novavax (NASDAQ:NVAX), BioNTech (NASDAQ:BNTX), Biogen (NASDAQ:BIIB), Teva (NYSE:TEVA), AstraZeneca (NASDAQ:AZN), and MannKind (NASDAQ:MNKD).

Adding to the mix, Unity Software (U), Lucid Motors (NASDAQ:LCID), Rivian (NASDAQ:RIVN), Li Auto (NASDAQ:LI), Beyond Meat (NASDAQ:BYND), Fisker (FSR), Under Armour (UAA), Warner Bros. Discovery (WBD), AMC Entertainment (NYSE:AMC), and Uber (UBER) will also share their financial updates, making the week quite dynamic.

In a noteworthy development, Arm Holdings (NASDAQ:ARM), WK Kellogg (NYSE:KLG), Instacart (NASDAQ:CART), and Klaviyo (NYSE:KVYO) will reveal their financial results for the first time since going public. This marks a significant milestone for these entities, and the market will keenly analyze their inaugural financial performance.

Below is a rundown of the major quarterly updates anticipated in the week of November 6 to November 10:

Monday, November 6

Realty Income (NYSE:O)

Realty Income (O) is slated to report its Q3 results before the market opens on Monday. Stock is rated Hold by Seeking Alpha’s Quant rating system as opposed to Buy by Wall Street analysts.

Last week, the company agreed to acquire Spirit Realty Capital in an all-stock transaction valued at approximately $9.3B. Spirit shareholders will receive 0.762 newly issued Realty Income common shares for each SRC common share they own, valued at approximately $37.34. The merger is expected to close in Q1 2024. The combined portfolio’s annualized contractual rent will increase to $4.5B, with convenience stores remaining Realty Income’s largest industry.

“Realty Income Corporation is pursuing aggressive growth while sacrificing sustainable long-term margins by acquiring Spirit Realty Capital, Inc. in an expensive deal. Investors can use options to capitalize on Realty Income’s declining share price and high dividend yield,” writes Seeking Alpha author and Investing Group Leader The Value Portfolio.

• Consensus FFO Estimates: $1.02
• Consensus Revenue Estimates: $955.78M
• Earnings Insight: The company has beaten FFO and revenue estimates in 50% of the past 8 quarterly results.

Also reporting: Realty Income (O), Vertex Pharma (NASDAQ:VRTX), BioNTech (BNTX), NXP Semi (NASDAQ:NXPI), Alteryx (NYSE:AYX), Tanger Factory (NYSE:SKT), Diamondback Energy (NASDAQ:FANG), Opko Health (NASDAQ:OPK), Coterra Energy (NYSE:CTRA), Hecla Mining (NYSE:HL), Matterport (NASDAQ:MTTR), Goodyear Tire (GT), CoreCivic (CXW), TripAdvisor (TRIP), RingCentral (RNG), Guardant Health (GH), DISH Network (DISH), Halozyme Therapeutics (HALO), Essential Utilities (WTRG), FS KKR Capital (FSK), Teradata (TDC), Golub Capital (GBDC), Medifast (MED), Alpha and Omega Semi (AOSL), Hims & Hers Health (HIMS), Viper Energy Partners (VNOM), Celanese (CE), NeoGenomics (NEO), International Flavors (IFF), Air Lease (AL), Myriad Genetics (MYGN), ShockWave Medical (SWAV), ICHOR Corporation (ICHR), Embraer SA (ERJ), Coherent (COHR), Hilton Grand Vacations (HGV), Ryman Hospitality (RHP), and more.

Tuesday, November 7

Lucid Group (LCID)

Lucid Motors (LCID) is due to post its Q3 earnings results after the bell on Tuesday. Analysts expect a slight decline in EPS and revenue amid a challenging economic environment and competition.

Just a few days ahead of earnings Seeking Alpha’s Quant rating system further downgraded the stock to Strong Sell from prior Sell as the stock is historically associated with poor future stock performance. LCID has decelerating momentum and inferior profitability when compared to other Consumer Discretionary stocks. Meanwhile, Wall Street Analysts recommends Holding the stock, which has dropped about 66% over a period of 12 months.

“Lucid Group’s Air Sapphire Edition, priced at $250,000, offers impressive performance while Tesla’s Model S Plaid offers similar performance at around half the price. It has experienced financial losses due to low production and delivery figures. The company faces challenges in a competitive market, with Tesla’s ability to lower prices and capture market share posing a threat,” warns Investing Group Leader Victor Dergunov.

• Consensus EPS Estimates: $ -0.40
• Consensus Revenue Estimates: $195.20M
• Earnings Insight: Lucid has driven past EPS and revenue expectations only twice in the past 8 quarters.

Also reporting: CAVA Group (CAVA), Klaviyo (KVYO), Permian Resources (PR), RXO, Inc. (RXO), Viatris (VTRS), Gilead Sciences (NASDAQ:GILD),Occidental Petro (OXY), Uber (UBER), Upstart (UPST), Datadog (NASDAQ:DDOG), Devon Energy (DVN), eBay (NASDAQ:EBAY), Emerson (EMR), Rivian Automotive (RIVN), Ballard Power (BLDP), GoPro (GPRO), Mosaic (MOS), Mannkind (MNKD), KKR (KKR), Air Products (APD), Geo Group (GEO), D.R. Horton (DHI), Robinhood Markets (HOOD), Akamai Tech (AKAM), Axon (AXON), Coupang (CPNG), Bluebirdbio (BLUE), Corsair Gaming (CRSR), Upwork (UPWK), Endeavour Silver (EXK), Coty (COTY), DaVita (DVA), Fidelity National Info (FIS), Bumble Inc. (BMBL), National Health (NHI), Zimmer Biomet (ZBH), Lion Electric (LEV), and more.

Wednesday, November 8

Walt Disney (DIS)

Walt Disney (DIS)is scheduled to unveil its Q4 earnings results before the opening bell on Wednesday. Just 10 days before the earnings report, Seeking Alpha’s Quant Rating System shifted to a bullish stance on a Disney stock, aligning with a Buy recommendation from the Sell-side.

“Disney’s stock performance is uncertain, with risks outweighing potential rewards. While potential surprises in streaming revenues and increased theme park earnings are possible, the overall outlook remains cautious,” warns SA author The Beginner Investor.

Recently, Disney announced plans to pay $8.61B to NBCUniversal (CMCSA)for a one-third stake in Hulu, paving the way for Disney’s complete ownership of the streaming service.

• Consensus EPS Estimates: $0.71
• Consensus Revenue Estimates: $21.41B
• Earnings Insight: Disney has topped EPS and revenue expectations in 4 of the past 8 quarters.

Also reporting: Beyond Meat (BYND) Arm Holdings plc (ARM), Klaviyo (KVYO), Kodiak Gas Services (KGS), Topgolf Callaway Brands (MODG), WK Kellogg Co (KLG), Twilio (TWLO), AMC Entertainment (AMC), Virgin Galactic (NYSE:SPCE), 3D Systems (DDD), Teva Pharma (TEVA), Roblox (RBLX), Biogen (BIIB), Corteva (CTVA), Digital Turbine (APPS), Fisker (FSR), Under Armour (UAA), Warner Bros. Discovery (WBD), MGM Resorts (MGM), Starwood Property Trust (STWD), First Majestic Silver (AG), Affirm (AFRM), Luminar Technologies (LAZR), Take-Two (TTWO), Kinross Gold (KGC), Lyft (LYFT), Pan Am Silver (PAAS), Kellanova (K), Bloom Energy (BE), Magnite (MGNI), HubSpot (HUBS), Franco-Nevada (FNV), Lumentum (LITE), B2Gold (BTG), B&G Foods (BGS), Coeur Mining (CDE), EVgo Inc. (EVGO), BigCommerce (BIGC), Jazz Pharma (JAZZ), Helmerich & Payne (HP), 23andMe (ME), PubMatic (PUBM), Supernus Pharma (SUPN), Infinera (INFN), Gray Television (GTN), Ralph Lauren (RL), IonQ (IONQ), Rocket Lab USA (RKLB), ODP Corporation (ODP), Atmos Energy (ATO), Ginkgo Bioworks (DNA), Genpact (G), New York Times (NYT), and more.

Thursday, November 9

Plug Power (PLUG)

Plug Power (PLUG) is set to post its Q3 results on Thursday after the market closes. The New York-based fuel cell solutions company’s stock has plunged about 50% in value so far this year, amid a broader sell-off in growth stocks and concerns about the company’s profitability.

The company has been historically linked to poor future stock performance due to its inferior profitability and negative EPS revisions compared to other Industrials stocks. As a result, it has been given a Sell rating from the Seeking Alpha’s Quant rating system, which has significantly underperformed the S&P 500.

“Plug Power is expected to be a key winner in the green hydrogen economy. Plug Power is investing in its own green hydrogen plants to improve margins and expects to achieve positive gross margins in the fourth quarter of 2023,” anticipates Investing Group Leader Simple Investing.

Last month, Plug Power (PLUG) in an investor presentation revealed that it expects to generate ~$6B in revenues by 2027 and $20B by 2030.

• Consensus EPS Estimates: $-0.31
• Consensus Revenue Estimates: $221.72M
• Earnings Insight: Plug Power has exceeded EPS estimates in just 1 of the past 8 reports, exceeding revenue forecasts in 5 of those quarters.

Also reporting: Novovax (NVAX), Light & Wonder (LNW), SoundHound AI (SOUN), The Trade Desk (TTD), Unity Software (U), AstraZeneca (AZN), Wheaton Precious Metals (WPM), Illumina (ILMN), Li Auto (LI), Fiverr (FVRR), Blink Charging (BLNK), Brookfield Infrastructure (BIP), Clean Energy Fuels (CLNE), Himax Tech (HIMX), Intellia Therapeutics (NTLA), TC Energy (TRP), Becton Dickinson (BDX), Tapestry (TPR), Capri Holdings (CPRI), Wix.com (WIX), ArcelorMittal (MT), Vuzix (VUZI), Hanesbrands (HBI), Algonquin Power & Utilities (AQN), WestRock (WRK), GoodRx (GDRX), Weibo (WB), Synaptics (SYNA), Scorpio Tankers (STNG), Hologic (HOLX), Lions Gate Entertainment (LGF.A), Oatly Group AB (OTLY), News Corp. (NWSA), and more.

Friday, November 10

The week concludes with a very modest earnings schedule, with a confirmed pre-market announcement from Capital Product Partners (CPLP), while Inuvo (INUV) and StoneCo (STNE) are set to release their financial results in the post-market.