S&P 500 Earnings Calendar: Accenture and Nike to Report Results This Week
24 Junho 2021 - 7:17AM
Finscreener.org
This week S&P 500 giants Accenture and Nike are likely to
report their quarterly results. Accenture (NYSE:
ACN) and Nike’s (NYSE: NKE) results
are expected to be released on June 24, according to the S&P
500 earnings calendar.
Let’s take a look to see what investors should expect from these
upcoming quarterly results.
Accenture sales pegged at $12.77 billion
Accenture is one of the largest IT companies in the world valued
at a market cap of $181 billion. It provides strategy, consulting,
technology, outsourcing, and operations services serving companies
across sectors including media, communications, banking,
healthcare, retail, and consumer goods among others.
Accenture will release its fiscal third quarter of 2021 results
on Thursday. Analysts tracking the stock expect it to post revenue
of $12.77 billion in the quarter ended in May, indicating
year-over-year growth of 17.5%. Comparatively, its adjusted
earnings are forecast to rise by 18% to $2.24 in Q3.
ACN stock has crushed the S&P 500 in the past decade and
is up 534% since June 2011. Comparatively, the S&P 500 is up
296% in this period. Accenture has a diversified revenue base and
provides services to companies in close to 120 countries.
The company is now focused on expanding
higher-growth strategic priorities including cloud,
interactive, digital transformation, and security businesses in
order to differentiate itself from peers such as IBM. It will also
allow Accenture to widen its economic moat against challengers such
as Globant. In 2020, around 70% of its sales were derived from
these businesses compared to 65% in 2019 and 60% in 2018.
In the fiscal second quarter of 2021, Accenture reported a free
cash flow of $2.44 billion, up from $1.37 billion in the year-ago
quarter. This growth was impressive as Accenture spent over $1
billion in acquisitions in the first six months of fiscal 2021. It
also spent over $3 billion on share buybacks and dividends in the
last two quarters allowing it to maintain a forward yield of
1.23%.
In 2021, it has forecast an operating margin of around 15% which
indicates a 30 basis points increase. Accenture spent just 28% of
its free cash flows on dividends giving it enough room to increase
payouts going forward.
NIKE is valued at a market cap of $207
billion
NIKE is a global retail giant that designs, develops, markets,
and sells athletic footwear, apparel, equipment, and accessories
worldwide. It is expected to report fiscal fourth-quarter of 2021
results this week and is forecast to increase sales by 75% to
$11.05 billion. Comparatively, its adjusted earnings might rise to
$0.51 per share.
Analysts also expect NIKE to increase sales by 15.7% to $43.26
billion and earnings by 96% to $3.14 in fiscal 2021. These massive
increases can be attributed to depressed sales in the year-ago
quarter due to the ongoing pandemic.
In the fiscal third quarter, NIKE’s sales rose 3% year over year
missing consensus estimates. This soft performance was due to a 10%
decline in sales derived from North America that accounts for over
33% of total sales. According to NIKE domestic sales were impacted
by industry-wide supply chain issues including container shortages
and timing of wholesale shipments.
Nike’s bottom-line has been impacted in the past few quarters
due to an increase in technology investments as well as a rise in
product and operating expenses. These trends should be on the radar
of long-term investors going forward. The online channel accounts
for 35% of total sales and Nike is on its way to achieving its
revenue goal of a 50% mix in this vertical.
Nike (NYSE:NKE)
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