Earnings Previews: Ford, Meta Platforms, PayPal, Qualcomm

Before markets opened on Tuesday, United Parcel Service beat analysts’ profit and revenue estimates for the March quarter. UPS also reaffirmed revenue guidance of $102 billion for the 2022 fiscal year, slightly above analysts’ consensus. Shares traded up about 1.8% in Tuesday’s premarket session.

Archer Daniels Midland beat estimates on both the top and bottom lines Tuesday morning, and the stock was up by about 3.9% in premarket trading. Corning also beat on the top and bottom lines and raised revenue guidance for the full fiscal year. The stock traded up by more than 8%. Homebuilder D.R. Horton beat estimates as well and issued guidance in line with expectations, and the stock added more than 3% in premarket trading.

GE continued Tuesday morning’s streak of companies beating estimates, but CEO Larry Culp said that GE currently expects to match the low end of its previous guidance. The stock traded down 3.2%. PepsiCo also beat both revenue and profit estimates but issued profit guidance below analysts’ estimates, even though revenue guidance was higher than analysts are forecasting. The stock traded down 0.7%. Raytheon beat the earnings per share (EPS) estimate but missed on revenue. Fiscal year guidance was mixed, and shares were down about 2% in Tuesday’s premarket trading.

After markets close Tuesday, Enphase Energy, GM, QuantumScape and Texas Instruments are on deck to report March-quarter results. To round out the action, Alphabet, Chipotle, Microsoft and Visa also release will their earnings reports after the closing bell.

Before markets open on Wednesday, reports from Boeing, General Dynamics and Teck Resources are expected, along with those from Kraft Heinz, Spotify and T-Mobile.

Here is what analysts expect from four companies posting quarterly results after markets close on Wednesday.

Ford

On Tuesday, Ford Motor Co. (NYSE: F) launches its F-150 Lightning all-electric pickup truck, one day ahead of reporting its first-quarter results. Maybe the hoopla surrounding the launch of what Executive Chair Bill Ford says is the “most important launch of my career” will distract analysts and investors from the company’s poor performance.

U.S. first-quarter sales fell 17% year over year, and sales of the non-electric F-150 dropped 31%. Sales in China were down 18.8% in the first quarter. Ford’s stock price is up about 26% over the past 12 months, but since reaching a 52-week high in mid-January, the stock is down 39%. Supply chain issues get the blame, but investors are getting a bit tired of hearing that. What they want to hear is how Ford is going to move beyond those issues.

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