Earnings Preview Q2 2013: Bank Of America Corp (BAC), Citigroup Inc (C), Google Inc (GOOG), Microsoft Corporation (MSFT), The Coca-Cola Company (KO)

 @moranzhang on July 12 2013 8:44 AM
Bank of America
A woman walks past as customers use ATMs at a Bank of America banking center in New York's financial district, Jan. 17, 2013. REUTERS/Brendan McDermid

The second-quarter earnings season kicked off last Monday with some better-than-expected results from Alcoa Inc. (NYSE: AA). However, the news from here on out might not be as upbeat, says Capital Economics.

“We suspect the news is likely to be less upbeat in the coming weeks and beyond,” said John Higgins, chief markets economist at Capital Economics. “Margins are now very stretched by past standards, so there is a clear risk that profits will grow less rapidly than output over the next few years, even as the economy recovery gains traction.”

Similar to last quarter, expectations for second-quarter S&P 500 earnings per share (EPS) have continued to decline going into earnings season, says Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America Merrill Lynch.

Analysts expect EPS of $26.64, which represents earnings growth of 1.4 percent from the year-ago period. That’s even lower than last quarter’s 3 percent growth. Subramanian notes that results from the 22 early reporters have been mixed, with the top- and bottom-line beat by Lennar Corporation (NYSE: LEN) highlighting the ongoing improvement in the U.S. housing market while a rare miss by Oracle Corporation (Nasdaq: ORCL) on software licenses suggests continued weakness in Asia.

“So far, just 50 percent of companies have beaten on EPS, 45 percent have beaten on sales, and 23 percent have beaten on both, lower than both long-term average levels and what we observed at this time last quarter,” Subramanian said. “Coupled with the recent deterioration in revision and guidance trends, this could portend a lower proportion of positive surprises this quarter.”

We ran a screen and produced a list of 45 notable companies set to report their earnings between July 15 and July 19. We have highlighted their expected reporting dates and times, along with analysts' earnings per share and revenue estimates from Reuters, as well as the stocks' year-to-date performances.

Monday Before Market Open, or BMO:

Citigroup Inc. (NYSE: C) is a global diversified financial-services holding company. The company has a market capitalization of $151.02 billion. It's expected to report FY 2013 second-quarter EPS of $1.17 on revenue of $19.76 billion, compared with a profit of $1.00 a share on revenue of $18.64 billion in the year-ago period. Citigroup is trading at around $49.63 a share. So far this year, the stock has gained 25.5 percent.

Tuesday BMO:

Goldman Sachs Group Inc. (NYSE: GS) is a global investment-banking, securities and investment-management firm. The company has a market cap of $71.48 billion. It's expected to report FY 2013 second-quarter EPS of $2.82 on revenue of $8.03 billion, compared with a profit of $1.78 a share on revenue of $6.63 billion in the year-ago period. Goldman Sachs is trading at around $155.83 a share. So far this year, the stock has gained 22.2 percent.

Johnson & Johnson (NYSE: JNJ) is engaged in the research and development, manufacture and sale of a range of products in the health-care field. The company has a market cap of $224.912 billion. It's expected to report FY 2013 first-quarter EPS of $1.40 on revenue of $17.43 billion, compared with a profit of $1.41 a share on revenue of $16.14 billion in the year-ago period. J&J is trading at around $82.52 a share. So far this year, the stock has gained 17.8 percent.

The Coca-Cola Co. (NYSE: KO) is a beverage company. The company has a market cap of $182.34 billion. It's expected to report an FY 2013 second-quarter EPS of 63 cents on revenue of $13.02 billion, compared with a profit of 61 cents a share on revenue of $13.08 billion in the year-ago period. Coca-Cola is trading at around $40.95 a share. So far this year, the stock has gained 13.0 percent. (READ MORE: Coca-Cola Q2 Earnings Preview: Weather Curbing Consumer Thirst)

Tuesday After Market Close, or AMC:

CSX Corp. (NYSE: CSX) is a transportation supplier. The company has a market cap of $24.79 billion. It is expected to report FY 2013 second-quarter EPS of 47 cents on revenue of $3.02 billion, compared with a profit of 49 cents a share on revenue of $3.01 billion in the year-ago period. CSX is trading at around $24.24 a share. So far this year, the stock has gained 23.0 percent.

Yahoo! Inc. (Nasdaq: YHOO) is a digital media company. The company has a market cap of $30.14 billion. It's expected to report FY 2013 second-quarter EPS of 30 cents on revenue of $1.08 billion, compared with a profit of 27 cents a share on revenue of $1.08 billion in the year-ago period. Yahoo is trading at around $27.04 a share. So far this year, the stock has gained 35.8 percent.

Wednesday BMO:

Bank of America Corp. (NYSE: BAC) is a financial institution. The company has a market cap of $144.02 billion. It is expected to report FY 2013 second-quarter EPS of 25 cents on revenue of $22.82 billion, compared with a profit of 19 cents a share on revenue of $21.97 billion in the year-ago period. Bank of America is trading at around $13.36 a share. So far this year, the stock has gained 15.0 percent.

Abbott Laboratories (NYSE: ABT) is engaged in the discovery, development, manufacture and sale of a range of health-care products. The company has a market cap of $54.78 billion. It's expected to report FY 2013 second-quarter EPS of 44 cents on revenue of $5.53 billion, compared with a profit of 43 cents a share on revenue of $5.31 billion in the year-ago period. Abbott is trading at around $35.14 a share. So far this year, the stock has lost 46.3 percent.

Mattel, Inc. (Nasdaq: MAT) designs, manufactures and markets a variety of toy products worldwide that are sold to its customers and directly to consumers. The company has a market cap of $16.15 billion. It's expected to report FY 2013 second-quarter EPS of 31 cents on revenue of $1.22 billion, compared with a profit of 28 cents a share on revenue of $1.16 billion in the year-ago period. Mattel is trading at around $46.78 a share. So far this year, the stock has gained 27.6 percent.

PNC Financial Services Group Inc. (NYSE: PNC) is a financial-services company. The company has a market cap of $38.98 billion. It's expected to report FY 2013 second-quarter EPS of $1.63 on revenue of $3.94 billion, compared with a profit of 98 cents a share on revenue of $3.62 billion in the year-ago period. PNC is trading at around $73.67 a share. So far this year, the stock has gained 26.3 percent.

St. Jude Medical Inc. (NYSE: STJ) develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas, as well as neurostimulation medical devices for the management of chronic pain. The company has a market cap of $13.50 billion. It's expected to report FY 2013 second-quarter EPS of 94 cents on revenue of $1.36 billion, compared with a profit of 88 cents a share on revenue of $1.41 billion in the year-ago period. St. Jude Medical is trading at around $47.68 a share. So far this year, the stock has gained 31.8 percent.

Textron Inc. (NYSE: TXT) is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide. The company has a market cap of $7.64 billion. It's expected to report FY 2013 second-quarter EPS of 38 cents on revenue of $3.01 billion, compared with a profit of 58 cents a share on revenue of $3.02 billion in the year-ago period. Textron is trading at around $27.49 a share. So far this year, the stock has gained 10.9 percent.

U.S. Bancorp (NYSE: USB) is a multistate financial-services holding company. The company has a market cap of $68.42 billion. It's expected to report an FY 2013 second-quarter EPS of 76 cents on revenue of $5.00 billion, compared with a profit of 71 cents a share on revenue of $5.07 billion in the year-ago period. U.S. Bancorp is trading at around $37.01 a share. So far this year, the stock has gained 15.8 percent.

Wednesday AMC:

SanDisk Corp. (Nasdaq: SNDK) designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies. The company has a market cap of $14.68 billion. It's expected to report FY 2013 second-quarter EPS of 92 cents on revenue of $1.39 billion, compared with a profit of 21 cents a share on revenue of $1.03 billion in the year-ago period. SanDisk is trading at around $60.25 a share. So far this year, the stock has gained 38.6 percent.

American Express Co. (NYSE: AXP) is a global service company. Its principal products and services are charge and credit-payment card products and travel-related services offered to consumers and businesses worldwide. The company has a market cap of $84.36 billion. It's expected to report FY 2013 second-quarter EPS of $1.22 on revenue of $8.32 billion, compared with a profit of $1.15 a share on revenue of $7.97 billion in the year-ago period. AmEx is trading at around $76.76 a share. So far this year, the stock has gained 33.6 percent.

EBay Inc. (Nasdaq: EBAY) is a global commerce platform. The company has a market cap of $72.41 billion. It's expected to report FY 2013 second-quarter EPS of 64 cents on revenue of $3.89 billion, compared with a profit of 56 cents a share on revenue of $3.40 billion in the year-ago period. EBay is trading at around $55.80 a share. So far this year, the stock has gained 9.4 percent.

Intel Corp. (Nasdaq: INTC) designs and manufactures integrated digital technology platforms. The company has a market cap of $117.56 billion. It's expected to report FY 2013 second-quarter EPS of 39 cents on revenue of $12.89 billion, compared with a profit of 54 cents a share on revenue of $13.50 billion in the year-ago period. Intel is trading at around $23.65 a share. So far this year, the stock has gained 14.7 percent.

Noble Corp. (NYSE: NE) is an offshore drilling contractor for the oil-and-gas industry. The company has a market cap of $9.96 billion. It's expected to report an FY 2013 second-quarter EPS of 56 cents on revenue of $1.01 billion, compared with a profit of 59 cents a share on revenue of $898.92 million in the year-ago period. Noble is trading at around $39.31 a share. So far this year, the stock has gained 12.9 percent.

SLM Corp. (Nasdaq: SLM) originates, services, and collects loans it makes to students and/or their parents to finance the cost of education. The company has a market cap of $10.57 billion. It's expected to report FY 2013 second-quarter EPS of 76 cents on revenue of $677.80 million, compared with a profit of 49 cents a share on revenue of $655.00 million in the year-ago period. SLM is trading at around $23.33 a share. So far this year, the stock has gained 36.4 percent.

Steel Dynamics, Inc. (Nasdaq: STLD) is a steel producer and metals recycler in the U.S. The company has a market cap of $3.41 billion. It's expected to report FY 2013 second-quarter EPS of 13 cents on revenue of $1.82 billion, compared with a profit of 20 cents a share on revenue of $1.91 billion in the year-ago period. Steel Dynamics is trading at around $15.47 a share. So far this year, the stock has gained 12.8 percent.

Thursday BMO:

Baxter International Inc. (NYSE: BAX) is a global, diversified health-care company. The company has a market cap of $39.20 billion. It's expected to report FY 2013 second-quarter EPS of $1.13 on revenue of $3.70 billion, compared with a profit of $1.12 a share on revenue of $3.57 billion in the year-ago period. Baxter is trading at around $72.34 a share. So far this year, the stock has gained 8.5 percent.

BB&T Corp. (NYSE: BBT) is a financial holding company. The company has a market cap of $24.22 billion. It's expected to report FY 2013 second-quarter EPS of 74 cents on revenue of $2.46 billion, compared with a profit of 72 cents a share on revenue of $2.47 billion in the year-ago period. BB&T is trading at around $34.57 a share. So far this year, the stock has gained 18.6 percent.

The Blackstone Group LP (NYSE: BX) is a manager of private capital and provider of financial-advisory services. The company has a market cap of $11.99 billion. It's expected to report an FY 2013 second-quarter EPS of 52 cents on revenue of $1.22 billion, compared with a profit of 19 cents a share on revenue of $644.33 million in the year-ago period. Blackstone is trading at around $21.57 a share. So far this year, the stock has gained 38.6 percent.

Check Point Software Technologies Ltd. (Nasdaq: CHKP) develops security technologies for online communications and transactions by enterprises and consumers. The company has a market cap of $10.71 billion. It's expected to report an FY 2013 second-quarter EPS of 81 cents on revenue of $337.22 million, compared with a profit of 77 cents a share on revenue of $328.65 million in the year-ago period. Check Point is trading at around $53.78 a share. So far this year, the stock has gained 12.9 percent.

CYS Investments Inc (NYSE: CYS) is a specialty finance company created with the objective of achieving consistent risk-adjusted investment income. The company has a market cap of $1.55 billion. It's expected to report an FY 2013 second-quarter EPS of 27 cents on revenue of $78.25 million, compared with a profit of 38 cents a share on revenue of $71.75 million in the year-ago period. CYS Investments is trading at around $8.71 a share. So far this year, the stock has lost 26.3 percent.

Danaher Corp. (NYSE: DHR) designs, manufactures and markets professional, medical, industrial and commercial products and services. The company has a market cap of $47.17 billion. It's expected to report FY 2013 second-quarter EPS of 85 cents on revenue of $4.71 billion, compared with a profit of 84 cents a share on revenue of $4.55 billion in the year-ago period. Danaher is trading at around $68.10 a share. So far this year, the stock has gained 21.8 percent.

Fifth Third Bancorp (Nasdaq: FITB) is a diversified financial-services company. The company has a market cap of $16.50 billion. It is expected to report FY 2013 second-quarter EPS of 43 cents on revenue of $1.59 billion, compared with a profit of 40 cents a share on revenue of $1.58 billion in the year-ago period. Fifth Third Bancorp is trading at around $18.84 a share. So far this year, the stock has gained 24.1 percent.

Johnson Controls Inc (NYSE: JCI) manufactures, installs and services automatic temperature regulation systems for buildings. The company has a market cap of $25.04 billion. It is expected to report FY 2013 third-quarter EPS of 75 cents on revenue of $10.98 billion, compared with a profit of 64 cents a share on revenue of $10.58 billion in the year-ago period. Johnson Controls is trading at around $36.56 a share. So far this year, the stock has gained 19.1 percent.

KeyCorp (NYSE: KEY) is a bank holding company for the KeyBank National Association. The company has a market cap of $10.67 billion. It's expected to report FY 2013 second-quarter EPS of 20 cents on revenue of $1.02 billion, compared with a profit of 24 cents a share on revenue of $1.03 billion in the year-ago period. KeyCorp is trading at around $11.59 a share. So far this year, the stock has gained 37.7 percent.

Safeway Inc. (NYSE: SWY) is a food and drug retailer in North America. The company has a market cap of $5.96 billion. It's expected to report FY 2013 second-quarter EPS of 51 cents on revenue of $10.45 billion, compared with a profit of 50 cents a share on revenue of $10.39 billion in the year-ago period. Safeway is trading at around $24.75 a share. So far this year, the stock has gained 40.2 percent.

UnitedHealth Group Inc. (NYSE: UNH) is a diversified health and well-being company. The company has a market cap of $69.68 billion. It is expected to report FY 2013 second-quarter EPS of $1.25 on revenue of $30.50 billion, compared with a profit of $1.27 a share on revenue of $27.27 billion in the year-ago period. UnitedHealth is trading at around $68.28 a share. So far this year, the stock has gained 25.9 percent.

Verizon Communications Inc. (NYSE: VZ) is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has a market cap of $146.20 billion. It's expected to report FY 2013 second-quarter EPS of 73 cents on revenue of $29.83 billion, compared with a profit of 64 cents a share on revenue of $28.55 billion in the year-ago period. Verizon is trading at around $51.10 a share. So far this year, the stock has gained 18.1 percent.

Philip Morris International Inc. (NYSE: PM) is a holding company. Its subsidiaries and affiliates and their licensees are engaged in the manufacture and sale of cigarettes and other tobacco products in markets outside the U.S. The company has a market cap of $147.98 billion. It's expected to report FY 2013 second-quarter EPS of $1.36 on revenue of $8.22 billion, compared with a profit of $1.41 a share on revenue of $8.12 billion in the year-ago period. Philip Morris is trading at around $90.42 a share. So far this year, the stock has gained 8.2 percent.

Thursday AMC:

Advanced Micro Devices Inc. (NYSE: AMD) is a global semiconductor company. The company has a market cap of $3.14 billion. It's expected to report a loss of 13 cents a share in the second quarter of fiscal year 2013 on revenue of $1.11 billion, compared with a profit of 6 cents a share on revenue of $1.41 billion in the year-ago period. Advanced Micro Devices is trading at around $4.45 a share. So far this year, the stock has gained 85.4 percent.

Capital One Financial Corp. (NYSE: COF) is a diversified financial services holding company. The company has a market cap of $38.44 billion. It's expected to report FY 2013 second-quarter EPS of $1.69 on revenue of $5.52 billion, compared with a profit of 16 cents a share on revenue of $5.06 billion in the year-ago period. Capital One is trading at around $65.81 a share. So far this year, the stock has gained 13.6 percent.

Google Inc. (Nasdaq: GOOG) is a global technology company focused on improving the ways people connect with information. The company has a market cap of $305.12 billion. It's expected to report FY 2013 second-quarter EPS of $10.78 on revenue of $14.45 billion, compared with a profit of $10.12 a share on revenue of $9.61 billion in the year-ago period. Google is trading at around $919.67 a share. So far this year, the stock has gained 30.1 percent.

Microsoft Corp. (Nasdaq: MSFT) develops, licenses and supports software products and services. The company has a market cap of $298.01 billion. It's expected to report FY 2013 fourth-quarter EPS of 75 cents on revenue of $20.79 billion, compared with a profit of 67 cents a share on revenue of $18.06 billion in the year-ago period. Microsoft is trading at around $35.69 a share. So far this year, the stock has gained 33.6 percent.

Skyworks Solutions Inc (Nasdaq: SWKS) offers analog and mixed signal semiconductors. The company has a market cap of $4.19 billion. It's expected to report FY 2013 third-quarter EPS of 45 cents on revenue of $435.41 million, compared with a profit of 53 cents a share on revenue of $389.04 million in the year-ago period. Skyworks Solutions is trading at around $21.94 a share. So far this year, the stock has gained 8.1 percent.

Friday BMO:

Baker Hughes Inc. (NYSE: BHI) is engaged in the oil-field-services industry. The company has a market cap of $21.57 billion. It's expected to report FY 2013 second-quarter EPS of 65 cents on revenue of $5.25 billion, compared with a profit of $1.00 a share on revenue of $5.33 billion in the year-ago period. Baker Hughes is trading at around $48.80 a share. So far this year, the stock has gained 19.5 percent.

First Horizon National Corp. (NYSE: FHN) is a bank holding company. The company has a market cap of $2.86 billion. It's expected to report FY 2013 second-quarter EPS of 19 cents on revenue of $319.17 million, compared with a loss of 50 cents a share on revenue of $331.58 million in the year-ago period. First Horizon is trading at around $11.86 a share. So far this year, the stock has gained 26.2 percent.

General Electric Co. (NYSE: GE) is a diversified technology and financial-services company. The company has a market cap of $247.54 billion. It's expected to report FY 2013 second-quarter EPS of 52 cents on revenue of $3.60 billion, compared with a profit of 60 cents a share on revenue of $3.87 billion in the year-ago period. GE is trading at around $23.94 a share. So far this year, the stock has gained 14.1 percent.

Honeywell International Inc. (NYSE: HON) is a diversified technology and manufacturing company. The company has a market cap of $64.96 billion. It's expected to report FY 2013 second-quarter EPS of $1.21 on revenue of $9.70 billion, compared with a profit of $1.14 a share on revenue of $9.44 billion in the year-ago period. Honeywell International is trading at around $82.57 a share. So far this year, the stock has gained 30.1 percent.

Schlumberger Ltd. (NYSE: SLB) provides a range of products and services from exploration through production. The company has a market cap of $101.88 billion. It is expected to report FY 2013 second-quarter EPS of $1.11 on revenue of $11.12 billion, compared with a profit of $1.05 a share on revenue of $10.45 billion in the year-ago period. Schlumberger is trading at around $76.63 a share. So far this year, the stock has gained 10.6 percent.

State Street Corp.  (NYSE: STT) is a financial holding company. Through its subsidiaries, the company provides a range of financial products and services to institutional investors worldwide. State Street has a market cap of $31.24 billion. It's expected to report FY 2013 second-quarter EPS of $1.19 on revenue of $2.54 billion, compared with a profit of $1.01 a share on revenue of $2.43 billion in the year-ago period. State Street is trading at around $68.50 a share. So far this year, the stock has gained 45.7 percent.

SunTrust Banks, Inc. (NYSE: STI) is a commercial banking organization. The company has a market cap of $18.01 billion. It is expected to report FY 2013 second-quarter EPS of 67 cents on revenue of $2.16 billion, compared with a profit of 50 cents a share on revenue of $2.23 billion in the year-ago period. SunTrust Banks is trading at around $33.34 a share. So far this year, the stock has gained 17.6 percent.

Join the Discussion