High Hopes For Lululemon Earnings, Not So Much For BlackBerry and Micron Technology

• It will be quiet on the earnings front this week as the calendar quarter winds to a close.
• The week's three most prominent reports will come from makers of apparel, telecom equipment and semiconductors.
• Wall Street consensus forecasts see earnings growth from only one of these three companies.

The calendar quarter winds down this week, and we are in the lull before the first-quarter earnings reporting season begins in the middle of April. Three of the most prominent among the sparse quarterly results due this week are coming from BlackBerry Ltd BBRY, Lululemon Athletica inc. LULU and Micron Technology, Inc. MU.

Judging by the consensus forecasts, Wall Street analysts are expecting more from the yoga apparel maker, and not so much from the two tech giants. In fact, both the wireless equipment company and the semiconductor maker are expected to have had net losses in the most recent quarter.

Below is a quick look at what is expected from these three reports, as well as a peek at some of the few others that are on tap this week.

BlackBerry

In its report early Friday, this Ontario-based company is expected to report that fiscal fourth-quarter had a net loss of $0.06 per share, according to 101 Estimize respondents. That would be down from a profit of $0.04 per share in the same quarter of 2015. The Wall Street consensus estimate is $(0.09) per share and has been for the past 90 days.

Like Wall Street, Estimize underestimated BlackBerry revenue in the previous quarter, and this time Estimze is looking for about $566 million, a little more than the analysts. That would be around 14 percent lower year-over-year. Wall Street also sees revenue for the full year down more than 31 percent from a year ago.

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Lululemon Athletica

The Wall Street forecast calls for this Vancouver-based company to post fiscal fourth-quarter EPS of $0.80 ($0.02 higher than a year ago) and for revenue to have risen almost 15 percent to $691.89 million. EPS fell short of expectations by $0.02 in the previous quarters, but the current estimate is unchanged in the past 60 days.

The 126 Estimize survey respondents see things virtually the same: EPS of $0.80 and revenue of $691.09 billion for the three months that ended in January. Note that Estimize also overestimated earnings in the previous period, by about the same amount. Lululemon is scheduled to share its latest results before Wednesday's opening bell.

Micron Technology

If the consensus of 98 Estimize estimates is correct, this maker of NAND and NOR Flash and DRAM products will post a net loss of $(0.06) for its fiscal second quarter. That compares to EPS of $0.81 in the year-ago period and a Wall Street estimate of $(0.08). Note that this would be the lowest quarterly earnings results in two years.

Both Estimze and Wall Street overestimated revenue in the previous quarter, and this time they are looking for $3.24 billion and $3.05 billion respectively, when Micron reports late on Wednesday. The latter would be down almost 27 percent. Related Link: Housing In Focus Over Next Couple Weeks: Numerous Data Points, Homebuilder Earnings

And Others

Other companies that Wall Street analysts expect to show at least some earnings growth when they report this week include cruise line operator Carnival, homebuilder Lennar and payroll processor Paychex. And earnings declines are predicted for spice maker McCormick and specialty retailer Restoration Hardware.

In the following week, look for the latest quarterly results from Bed Bath & Beyond, Constellation Brands, Darden Restaurants, Monsanto, Walgreens Boots Alliance and more. Then the new earnings reporting season kicks off when Alcoa shares its Q1 results on Monday, April 11. That is followed shortly thereafter by scheduled reports from Bank of America, Citigroup, Wells Fargo and other big banks.

At the time of this writing, the author had no position in the mentioned equities.

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