Alcoa, JPMorgan, Wells Fargo: 8 Earnings Reports To Watch, Oct 9-12

 @moranzhang
on October 05 2012 5:49 AM
JPMorgan
JPMorgan Chase & Co is expected to report on Friday third-quarter earnings per share of $1.21 on revenue of $24.37 billion, compared with a profit of $1.02 a share on revenue of $24.37 billion in the year-ago period. REUTERS

Stock prices have been moving sideways since the U.S. Federal Reserve announced its third round of quantitative easing, or QE3, and investors are now awaiting the next big market catalyst: third-quarter earnings reports. As usual, America’s biggest aluminum producer, Alcoa Inc. (NYSE: AA), will kick off earnings season when it reports on Oct. 9.

Global fast-food giant Yum Brands Inc. (NYSE: YUM) also reports Tuesday, followed by warehouse chain Costco Wholesale Corp. (Nasdaq: COST) on Wednesday.

All eyes will then turn to JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC), with both banking behemoths due to report on Friday.

At the end of the third quarter, earnings-per-share estimates for companies in the S&P 500 were 4.5 percent lower than at the beginning of the quarter, according to FactSet. They are also 2.6 percent below what the S&P 500’s EPS were in the year-ago period.

Moreover, the rate of firms projecting below-consensus profit for the third-quarter versus better-than-expected estimates is at an 11-year high, according to Thomson Reuters via the Wall Street Journal.

In recent weeks, several major companies -- Caterpillar Inc. (NYSE: CAT), FedEx Corp. (NYSE: FDX) and Norfolk Southern Corp. (NYSE: NSC) among them -- have warned about the grim outlook for the global economy.

We ran a screen and produced a list of eight notable companies set to report their earnings Oct. 9-12. We have highlighted their expected reporting dates and times, along with analysts' EPS and revenue estimates from Reuters, as well as the stocks' year-to-date performances.

Tuesday After Market Close, or AMC:

Alcoa Inc. (NYSE: AA) is the largest U.S. aluminum producer. The company has a market capitalization of $9.69 billion. It is expected to report fiscal year 2012 third-quarter EPS of less than 1 cent on revenue of $5.57 billion, compared with a profit of 15 cents a share on revenue of $6.42 billion in the year-ago period. Alcoa is trading at around $9.07 a share. So far this year, the stock has gained 4.97 percent.

Yum Brands Inc. (NYSE: YUM) is a quick-service restaurant company that owns the KFC, Pizza Hut, and Taco Bell brands. The company has a market cap of $30.27 billion. It is expected to report FY 2012 third-quarter EPS of 97 cents on revenue of $3.64 billion, compared with a profit of 83 cents a share on revenue of $3.27 billion in the year-ago period. Yum is trading around $66.4 a share. So far this year, the stock has gained 12.54 percent.

Wednesday Before Market Open, or BMO:

Costco Wholesale Corp. (Nasdaq: COST) operates membership warehouses that offer its members low prices on a limited selection of branded and selected private-label products in a range of merchandise categories. The company has a market cap of $43.88 billion. It is expected to report FY 2012 fourth-quarter EPS of $1.30 on revenue of $31.59 billion, compared with a profit of $1.08 a share on revenue of $28.18 billion in the year-ago period. Costco is trading at around $101.5 a share. So far this year, the stock has gained 21.81 percent.

Fastenal Co. (Nasdaq: FAST) is engaged in selling industrial and construction supplies, both wholesale and retail. The company has a market cap of $13.22 billion. It is expected to report FY 2012 third-quarter EPS of 37 cents on revenue of $804.9 million, compared with a profit of 33 cents a share on revenue of $726.74 million in the year-ago period. Fastenal is trading around $44.65 a share. So far this year, the stock has gained 2.38 percent.

Thursday BMO:

Safeway Inc. (NYSE: SWY) is a food and drug retailer. The company has a market cap of $3.91 billion. It is expected to report FY 2012 third-quarter EPS of 43 cents on revenue of $10.24 billion, compared with a profit of 38 cents a share on revenue of $10.06 billion in the year-ago period. Safeway is trading around $16.37 a share. So far this year, the stock has lost 22.39 percent.

Friday BMO:

JPMorgan Chase & Co. (NYSE: JPM) is a global financial-services firm and a banking institution in the U.S. The company has a market cap of $159.13 billion. It is expected to report FY 2012 third-quarter EPS of $1.21 on revenue of $24.37 billion, compared with a profit of $1.02 a share on revenue of $24.37 billion in the year-ago period. JPMorgan is trading around $41.88 a share. So far this year, the stock has gained 25.95 percent.

Wells Fargo & Co. (NYSE: WFC) is a bank holding company. The company has a market cap of $189.26 billion. It is expected to report FY 2012 third-quarter EPS of 87 cents on revenue of $21.42 billion, compared with a profit of 72 cents a share on revenue of $19.63 billion in the year-ago period. Wells Fargo is trading at around $35.81 a share. So far this year, the stock has gained 30.01 percent.

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