Earnings Preview

Earnings Preview: Oracle Eyes Gains with Cloud Surge, EPS at $1.65

By Bill Bullington

6/11, 05:32 EDT
Adobe Inc.
Academy Sports and Outdoors, Inc.
Broadcom Inc.
Caseys General Stores, Inc.
Oracle Corporation
PetMed Express, Inc.
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Key Takeaway

  • Oracle (ORCL) is expected to report strong cloud growth, potentially offsetting software segment weaknesses, with EPS consensus at $1.65 and YTD stock returns of 18%.
  • Casey's (CASY) anticipates strong margins amid normalizing fuel prices, with positive YTD stock performance of 20% and an EPS consensus of $1.73.

Market Sentiment Ahead of Earnings

Technology

  • Oracle (ORCL): Expected to showcase strong cloud growth, potentially offsetting weaknesses in its software segment.
  • Adobe (ADBE) and Broadcom (AVGO): AI remains a key focus, with both companies likely to highlight advancements in this area.

Consumer Discretionary

  • Academy Sports & Outdoors (ASO): Facing demand challenges, with a slight decline in EPS estimates.
  • PetMed (PETS): Struggling with significant client churn and negative earnings expectations.

Consumer Staples

  • Casey's (CASY): Anticipated to report strong margins amid normalizing fuel prices, with positive stock performance YTD.

Earnings Preview for June 11, 2024: Calendar

Pre-market

Sector Company Ticker EPS Consensus YTD Stock Returns Market Cap Earnings Time Call Time
Consumer Discretionary Academy Sports & Outdoors ASO US $1.21 -19% $3.94 bn Premarket 10:00 am

Intraday

No major earnings expected

After-market

Sector Company Ticker EPS Consensus YTD Stock Returns Market Cap Earnings Time Call Time
Technology Oracle ORCL US $1.65 18% $342.2 bn Postmarket 5:00 pm
Consumer Discretionary PetMed PETS US (1c) -44% $88.8 mn Postmarket 4:30 pm
Consumer Staples Casey's CASY US $1.73 20% $12.2 bn Postmarket 8:30 am June 12

Earnings Previews

Technology

  • Oracle (ORCL): Cloud growth expected to outshine software segment weaknesses.
  • Adobe (ADBE) and Broadcom (AVGO): AI advancements remain a key focus.

Consumer Discretionary

  • Academy Sports & Outdoors (ASO): Demand challenges persist, slight decline in EPS estimates.
  • PetMed (PETS): Significant client churn and negative earnings expectations.

Consumer Staples

  • Casey's (CASY): Strong margins anticipated amid normalizing fuel prices, positive stock performance YTD.