Leah Avraham
Leah writes Earnings Dispatch's forward calendar, covering what the market expects from upcoming reporters and what options pricing implies about the reaction.
Articles by Leah Avraham
Lennar's Third-Quarter Release Lands Hours After the Fed Decision, Against Its Own Guide of About 16% Gross Margin on Home Sales
The homebuilder releases fiscal third-quarter results after Wednesday's close, hours after the FOMC's September decision and the night before August housing starts. Its own June guidance points below the deliveries, average price and margin it reported a year ago.
Adobe reports Thursday night against a revenue target that already builds in the Semrush deal
Adobe releases fiscal third-quarter results after Thursday's close against a target of $6.67 billion to $6.72 billion in revenue, GAAP earnings of $4.40 to $4.45 a share and non-GAAP earnings of $6.05 to $6.10. The company said in June that those targets "factor in the acquisition of Semrush Holdings, Inc. and assume current macroeconomic conditions" — a clause that keeps the guide from being a clean organic comparison.
Oracle's $8.05 guide is called 18% growth against a base its reported results do not show
Oracle reports first-quarter fiscal 2027 results after Thursday's close. Its full-year non-GAAP EPS guide implies a fiscal 2026 starting point roughly 80 cents below the $7.631 the company actually reported, because two asset sales are backed out of the comparison.
Casey's will report after Tuesday's close against an outlook that stops at EBITDA
The convenience chain's fiscal 2027 guidance, published in June, sets ranges for same-store sales, inside margin, fuel gallons, operating expenses and EBITDA growth. It contains no net income or per-share figure, and no fuel margin line at all.
A Four-Session Week: Oracle and Adobe Will Report the Same Night, and Only One of Them Guided a GAAP Earnings Range
Labor Day cuts the week of Sept. 8 to four sessions. GameStop will open it on Tuesday having already published preliminary figures showing net income up sharply and sales down sharply; Oracle and Adobe will both report after Thursday's close, and Kroger will close the week on Friday.
Snowflake Reports Tonight With No GAAP Counterpart to Its Margin Guide: Last Quarter's Two EPS Lines Were $1.25 Apart
Snowflake releases second-quarter fiscal 2027 results after Wednesday's close, against a company guide of $1,415m-$1,420m in product revenue and a 12.5% non-GAAP operating margin. There is no GAAP counterpart to that margin guide, and in the April quarter the company's GAAP and non-GAAP per-share lines pointed in opposite directions.
Campbell's Closes Fiscal 2026 on Thursday Against a Reaffirmed $2.15-$2.25 Adjusted EPS Range
Campbell's reports fourth-quarter and full-year fiscal 2026 results before Thursday's open, with a full-year adjusted EPS range it last reaffirmed on June 5 and an adjusted EBIT guide calling for a 20% to 17% decline. In the third quarter its GAAP EPS rose 86% while its adjusted EPS fell 32%, and the reason the GAAP line rose is a narrowing of the gap between the two measures rather than an improvement in the business.
Five reports land after tonight's close, and expectations sit at or above the top of every guided range we checked
Credo, Dell, GitLab, MongoDB and Palo Alto Networks all report after the close on Tuesday. Checked against the last guidance each company published, the per-share expectations circulating into the print sit at the ceiling of the guided range — or through it — wherever a range exists. Three of the four whose guidance we verified most recently posted a GAAP operating loss.
Lululemon Reports Thursday With No Adjusted EPS to Hide Behind, and a Consensus That Sits Inside Its Own Guidance Range
The company told investors in June to expect second-quarter diluted earnings of $1.76 to $1.81 against $3.10 a year earlier. The Zacks-compiled consensus of $1.79 falls between those two numbers, which means the Street is largely scoring lululemon against a bar lululemon set. One compiled revenue figure points the opposite way from the company's own range.
Nvidia Reports Fiscal Q2 After Wednesday's Close Against Its Own $91.0 Billion Guide, With Compiled Consensus Running $91.7 Billion to $92.2 Billion
The company's May outlook assumes no data center compute revenue from China at all. Also worth watching: Nvidia's GAAP earnings per share came in above its non-GAAP figure last quarter, and the widely quoted $2.08 consensus does not say which basis it is on.
Intuit Closes Its Fiscal Year After Tonight's Bell. Its Own Fourth-Quarter Guide Spans $0.73 and $3.62.
Intuit will report fiscal fourth-quarter and full-year results after Tuesday's close. The consensus numbers circulating this week sit neatly inside the non-GAAP half of a guide whose two halves are nearly $3 a share apart — and none of them say which half they belong to.
Week ahead, Aug. 24-28: Nvidia will report against its own $91 billion guide, and Salesforce's GAAP guide is $1.51 below its adjusted one
Nvidia is scheduled to report fiscal second-quarter results after the close on Wednesday, Aug. 26, against company guidance issued in May of $91.0 billion in revenue plus or minus 2%. Kiplinger's calendar for the week, which credits its estimate data to Refinitiv, an LSEG business, via Yahoo Finance and to S&P Global Market Intelligence via Briefing.com, listed $92.07 billion in revenue and $2.09 in adjusted EPS as of Aug. 24; a Barchart piece carried on Yahoo Finance on Aug. 22 put the same quarter at $92.01 billion and $2.01. Salesforce reports the same afternoon, having guided to GAAP diluted EPS of $1.74 to $1.76 and non-GAAP diluted EPS of $3.25 to $3.27 for the quarter.
Lowe's Reports Wednesday. The Guide It Affirmed in May Implies the Last Three Quarters Grow Slower Than the First Did.
Subtract the reported first quarter from the fiscal 2026 outlook Lowe's affirmed on May 20 and what is left is 5.5% to 8.5% sales growth against 10.3% delivered, and an adjusted earnings range whose low end sits below a year ago.
Home Depot Due to Report Q2 Fiscal 2026 Tuesday: The Guidance Baseline, the Year-Ago Bar, and an Absent CEO
Home Depot is due to publish second-quarter fiscal 2026 results Tuesday morning and hold a 9 a.m. ET call — its first quarterly report since the company disclosed on Aug. 12 that Ted Decker was taking a temporary medical leave. Nothing below is a result: it is the company's own reaffirmed guidance, its last reported figures, and published consensus, none of which establishes what the quarter actually delivered.
Wolfspeed Closes Fiscal 2026 Wednesday. Its Own Filings Say the Year Cannot Be Shown in One Column.
A Chapter 11 petition on day one of the fiscal year and a September 29 emergence split Wolfspeed's 2026 into predecessor and successor books that fresh-start accounting requires be kept apart.
Estée Lauder Reports on a Closed Fiscal Year Wednesday, But the Number That Matters Is Fiscal 2027
The Estée Lauder Companies reports fiscal fourth-quarter and full-year 2026 results before Wednesday's open, a date and time the company set in an August 5 notice. Its own May guidance leaves an implied fourth quarter of roughly 23 to 33 cents on an adjusted basis and a loss-to-breakeven quarter on a GAAP basis -- and a preliminary fiscal 2027 view that has yet to be converted into formal guidance.
Fabrinet's Own Guidance Sets a Flat Floor for Monday's Fiscal Fourth Quarter
Fabrinet reports fiscal fourth-quarter and full-year 2026 results after Monday's close, a date the company confirmed in a July 27 investor notice. Its own May guidance puts the low end of non-GAAP earnings at $3.72 a share -- precisely what it earned last quarter -- while guiding revenue up 3 to 6 percent sequentially. On a twelve-point gross margin, that gap is the whole story.
Walmart's Q2 Lands Thursday. Check the Fiscal Year, and Check Whose Consensus You're Quoting
Walmart reports what its own investor-relations calendar labels FY2027 Q2 before the open on Thursday, August 20, six days after Census said July retail sales fell 0.6% to $763.6bn against a Reuters poll looking for +0.1%. The published "consensus" is not one number: Zacks carries $0.73 on $186.3bn, while Kiplinger's calendar, which credits Refinitiv and S&P Global Market Intelligence for its estimate data, lists 74 cents — the exact top of Walmart's own guided $0.72 to $0.74 range. And whatever prints, a quarter that ended July 31 cannot settle what happened to the American consumer in July.
The Other Half of Earnings Week: Deere, Analog Devices, Two China ADRs, Klarna and Toll Brothers
Retail will dominate the week of August 17-21, but six non-retail reporters give separate readings on farms, factories, China, consumer credit and housing. Every date and call time here was checked against the company's own release - and two of them involve sequencing that a single calendar line will not capture.
Retail Week, Aug 17-21: Four Different Numbers Are Being Called Target's Consensus
Home Depot Tuesday, Target and Lowe's Wednesday, Walmart Thursday - and July, the month retail sales fell 0.6%, sits inside all four quarters. Before the prints land, it is worth knowing that the Street's Target EPS estimate is quoted at $2.21, $2.25, $2.32 and $2.40 depending on who you ask.
The July Retail Sales Table, Mapped Line by Line to Next Week's Four Reporters
Total retail and food services sales fell 0.6% in July, but the two Census categories that actually contain Home Depot and Lowe's rose, general merchandise rose, and the steepest decline of the month landed in a category Amazon emptied out by moving Prime Day into June.
Friday's Retail Sales Print Is Not a Preview of Next Week's Retailer Comps
The Census Bureau releases July advance retail sales at 8:30 a.m. Friday, three trading days before Home Depot opens the biggest retail earnings week of the quarter. The macro print is nominal, industry-wide and, in the control group traders key off, excludes building materials altogether, while last quarter the four retailers' own comparable sales ran roughly five percentage points apart.
Tapestry's First FY2027 Guide, Not Its Fourth Quarter, Is Thursday's Real Test
Tapestry reports fiscal fourth-quarter and full-year results before Thursday's open, and its own May guidance already brackets the quarter. The open question is what a company that has raised its outlook three quarters running says about the year ahead.
Retail takes over the calendar next week, and Home Depot arrives with an interim leadership team
Home Depot, Target, Lowe's, TJX and Walmart all report within three sessions starting Aug. 18. Home Depot heads into its print days after disclosing that chief executive Ted Decker is taking a medical leave.
Applied Materials headlines a top-heavy Thursday as the August earnings calendar thins out
Applied Materials reports after Thursday's close with consensus at $3.39 a share on about $9 billion of revenue. JD.com, Tapestry and YETI go before the open, and Friday is close to empty.
Week Ahead: CoreWeave, Cisco and Applied Materials Headline the Earnings Calendar
The AI trade faces a three-part test this week as CoreWeave reports Tuesday night, followed by Cisco on Wednesday and Applied Materials on Thursday.