This is a big week for earnings, especially in the S&P 500. Several hundred companies will report including the first of the Magnificent 7, which is Tesla. But there are other companies to keep an eye on as well including infrastructure plays and several key companies in the consumer space.Are people traveling, putting in pools, buying clothes and shoes? Is the consumer still spending?Many have declared consumer spending dead over the last 2 years only to be proven wrong. Two of the Street’s top retailers will report this week. What will they tell us about the consumer heading into the important holiday season?There are some great earnings charts among these five companies. Will those with an extended earnings surprise streak keep them going?
This Week’s 5 Most Important Earnings Charts
1. Tesla Inc. ( – )Tesla has missed on earnings the last 4 quarters. Does the Street even care about the beat or miss?Earnings are expected to be down 28% in 2024 but rebound 34.4% next year. Tesla shares have fallen 12.3% year-to-date. Tesla isn’t cheap, even with the share weakness, as it has a forward P/E of 98.Will Tesla miss again this quarter?2. ServiceNow, Inc. ( – )ServiceNow continues to have a perfect 5-year earnings surprise track record. Few have kept their earnings surprise streaks intact throughout the pandemic. That’s impressive.Shares of ServiceNow keep hitting 5-year highs. It’s expensive. ServiceNow trades with a forward P/E of 67.Can ServiceNow keep its streak alive?3. United Rentals, Inc. ( – )United Rentals has beat 5 quarters in a row. As one of the largest equipment rental companies in North America, it’s a play on the infrastructure and construction build-out.Shares of United Rentals are up 47.8% year-to-date and are near new all-time highs. It still has attractive valuations with a forward P/E of 18.9.Is there more gas left in the tank for United Rentals?4. The Tractor Supply Co. ( – )Tractor Supply is coming off a miss last quarter. But the Street was not concerned as the shares have still retaken their previous highs.Shares of Tractor Supply, the rural retailer, are up 35.5% year-to-date. It’s not cheap, with a forward P/E of 29.What will Tractor Supply tell us about the rural consumer?5. Deckers Outdoor Corp. ( – )Deckers has two big brands: Ugg and Hoka. It has only missed once on earnings in the last 5 years and it was back in 2021 when retailers were having problems with inventory.Shares of Deckers are up 38.3% year-to-date, but are off the June highs. Deckers is not cheap, with a forward P/E of 30.5.Should Deckers be on your short list?Video Length: 00:08:17More By This Author:
This Week’s Most Important Earnings Charts
