Zinger Key Points
- First-quarter reporting season continues into another busy week
- Notable among those scheduled to report are data analytics company Palantir and Novavax, which will be reporting COVID vaccine revenue for the first time
The first-quarter reporting season is well and truly underway. Data from Factset show that about 87% of S&P 500 companies have reported their quarterly results, with 79% reporting positive earnings per share, or EPS, surplus, and 74% ringing in revenue upside. The magnitude of upside to earnings estimates, however, is lower than the five-year average, FactSet said.
Here are the key earnings scheduled for Monday:
1. Palantir: Data analytics company Palantir Technologies Inc. PLTR is scheduled to release its first-quarter results before the market opens and host the earnings call at 8 am EDT.
Analysts, on average, expect the company to report of EPS of 4 cents on revenue of $443.42 million, according to BenzingaPro data. This would mean unchanged EPS and a 33.5% year-over-year revenue growth.
Investors are likely to focus on revenue contribution from mainstay government customers and the share of the rapidly-growing commercial customers.
2. Plug Power: Hydrogen fuel-cell energy firm Plug Power, Inc. PLUG will announce its quarterly results after the market close. The earnings call is scheduled for 4:30 pm EDT.
It is widely expected to report a loss of 16 cents per share compared with the year-ago loss of 12 cents per share. The consensus estimate calls for a nearly doubling in revenue to $144.49 million.
Previewing the earnings, KeyBanc Capital Markets analyst Leo Mariani said in late April he expects Plug Power's revenue to miss the consensus by 4.6% and margin to contract slightly from a negative 19.4% to a negative 20%. The analyst attributed his tempered expectation to a 10% reduction anticipated in fuel cell systems and related infrastructure revenue, largely due to seasonality in sales.
Related Link: Why This Analyst Is Bullish On Plug Power
3. Novavax: Maryland-based COVID-19 vaccine manufacturer Novavax, Inc. NVAX is due to release its first-quarter results after the market closes.
Analysts expect the company to reverse to a profit of $2.69 per share from a loss of $3.05 per share a year ago. Revenue is expected to jump over 260% to $845.2 million, reflecting the contribution from vaccine revenues for the first time.
4. BioNTech: German biopharma BioNTech SE BNTX will report its first-quarter results before the market opens and host a conference call at 8 am EDT.
Analysts, on average, expect the company to report EPS of $9.71 for the first quarter, higher than $5.21 from a year earlier, and revenue of $4.59 billion, up 162% year-over-year.
Partner Pfizer, Inc. PFE reported first-quarter Comirnaty (COVID-19 vaccine) sales of $13.2 billion and reaffirmed its guidance
5. Lordstown: Pre-revenue EV maker Lordstown Motors Corp. RIDE will release its first-quarter results ahead of the market open and hold its earnings call at 8:30 am EDT.
The company is expected to report a loss of 46 cents per share, narrower than the year-ago loss of 72 cents per share.
The company recently announced that the sale of its Ohio plant to Hon Hai Precision Industry Co., Ltd. HNHPF will be delayed to May. The launch of the Endurance pickup truck is being inordinately delayed.
Related Link: Why This Data Analytics Company's 'High Growth' Will Likely Continue
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