Earnings Expectations For The Week Of June 23: Nike, Walgreen And More

Scheduled quarterly reports from General Mills GIS, Micron Technology MU, Monsanto MON, Nike NKE and Walgreen WAG will be among the highlights this coming week on the earnings front.

Consensus forecasts call for year-over-year revenue gains from all five of them, but earnings declines from Monsanto and Nike. Below is a closer look at what analysts expect from these and some of the week's other most prominent quarterly reports.

General Mills

The fiscal fourth-quarter forecast for this maker of Wheaties, Green Giant and Häagen-Dazs calls for earnings per share (EPS) to be up more than 26 percent from the year-ago period to $0.72 in Wednesday morning's report. But sales are expected to be marginally higher to $4.42 billion.

For the full year, analysts are looking for General Mills to post EPS of $2.87 on revenue of $18.08 billion. That would be up from $2.69 per share and $17.77 billion in revenue in the previous year. Like the quarterly EPS estimate, the one for the full year has not changed in the past 60 days.

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Micron Technology

Analysts expect this maker of DRAM and NAND flash products to say that it had earnings of $0.70 per share in its fiscal third quarter. That would be a jump from $0.04 per share in the year-ago period. And revenues are forecast to have risen from $2.32 billion a year ago to $3.89 million for the three months that ended in May.

So far the forecast for the current quarter calls for sequential and year-over-year growth on both the top and bottom lines. EPS for the full year are expected to have swung to a profit from a year-ago net loss. The company is scheduled to share its results Monday after the markets close.

Monsanto

The forecast for this St. Louis-based agricultural products giant calls for earnings of $1.56 per share and for revenue to total $4.41 billion for the most recent quarter. In the year-ago fiscal third quarter, the company posted a profit of $1.66 per share and revenue came to $4.25 billion.

So far, analysts anticipate that EPS for the full year will be more than 13 percent higher than a year ago, and for revenue to be up about seven percent. But the forecast calls for a net loss in the fourth quarter. Look for FedEx to share its latest results Wednesday before the opening bell.

Nike

The leading athletic footwear and apparel purveyor is expected to report earnings of $0.75 per share in Thursday afternoon's report. That would be down slightly from a profit of $0.76 per share in the same period of last year. Note that analysts underestimated Nike's per-share earnings in the previous four quarters.

Nike also is expected to say revenues grew more than nine percent from a year ago to $7.34 billion for the fiscal fourth quarter. Full-year sales are predicted to be more than nine percent higher to $27.71 billion, with EPS coming to $2.97, or up more than nine percent year-on-year as well.

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Walgreen

In its report early Tuesday, the largest U.S. drug store chain is expected to report that its EPS increased from $0.85 per share in the year-ago quarter to $0.94 for the three months that ended in May. That consensus EPS estimate has ticked up by a penny in the past 60 days, though EPS fell short of expectations in the previous quarter.

Walgreen's revenues for the fiscal third quarter are predicted to have grown more than six percent to $19.48 billion. So far the forecasts have sales up less than five percent in the current quarter and more than five percent for the full year.

And Others

Companies expected to report quarterly earnings growth this week also include Accenture, Bed Bath & Beyond, KB Home and Sonic. But EPS declines are forecast for Apollo Education Group, Carnival, ConAgra Foods and Lennar. Analysts are looking for another net loss from Barnes & Noble.

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