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Constellation Brands Leads October Earnings Reports

The month of October starts with earnings reports from several companies. This comes in the same week investors and economic analysts await crucial numbers from economic policies officials in the US, Canada, and Australia.

But first, here are the earnings dates this week.

Constellation Brands Inc

Constellation Brands Inc (STZ) is a global leader in producing and marketing beer, wine, and spirits, with operations in the United States, Mexico, New Zealand, and Italy. It is expected* to report earnings before the market opens on Thursday, October 6, 2022.

The report will cover the accounting quarter that ends in August 2022. Based on analyst projections, the consensus EPS forecast for the quarter is $2.83.

In its most recent earnings report, the company exceeded expectations by reporting net sales of $2.4 billion, an increase of 17% from the same time last year.

Besides, both net income and operating income increased by 10%. Last year, the reported EPS for the same quarter was $2.38.

Constellation Brands’ strong performance during this period was largely due to its beer segment, which saw net sales increase by 21% to $1.9 billion due to strong sales of the Modelo and Corona brands. 

Legend Biotech Corporation

Legend Biotech Corporation (LEGN) is a clinical-stage biopharmaceutical company. In the past year, its share price has decreased by 12%. That is still better than the market’s 19% overall decline. Due to Legend Biotech’s current loss, most analysts would focus on revenue growth to determine how quickly the underlying business is expanding.

On October 3, 2022, LEGN is anticipated to release its earnings. The algorithm used to determine the upcoming earnings date is based on the historical reporting dates for the company. Based on analyst projections, the consensus EPS forecast for the quarter is $-0.58. A -0.32 dollars EPS was reported for the same quarter last year. 

Acuity Brands, Inc.

Acuity Brands, Inc. is an industrial technology company specializing in lighting, lighting controls, building management systems, and location-aware applications. This company is expected to report earnings on October 4, 2022, prior to the opening of the market. The report will cover the fiscal quarter that ends in August 2022.

Based on analyst projections, the consensus EPS forecast for the quarter is $3.14. The business’s most recent earnings report, which covered the third quarter that ended on May 31, showed a $1.06 billion increase in net sales. This represented an increase of 17.9% from the same time last year. 

Ecopetrol S.A.

Ecopetrol SA. company owns stakes in oil-producing fields in Colombia’s south, west, and north, as well as refineries, ports for fuel import and export, and a pipeline and polyduct network for transportation across the entire country.

On 10/05/2022, Ecopetrol S.A. is anticipated to report earnings. The consensus EPS forecast for the quarter is $1.42, based on analyst projections. For the same quarter last year, there was a reported EPS of $0.49. 

Companhia Paranaense de Energia

Electric utilities provider Companhia Paranaense de Energia (ELP), also known as Copel, is based in Brazil. Power generation and transmission (GeT), power distribution and sales (DiS), telecommunications (TEL), gas, and holding are the five segments that make up the firm’s operations (HOL).

On October 5, 2022, the company is anticipated to report earnings. For the same quarter last year, there was $0.06 in reported EPS. 

Lamb Weston Holdings, Inc.

The company Lamb Weston Holdings (LW), a self-proclaimed “North America’s premier potato company.” On October 5, 2022, prior to the opening of the market, Lamb Weston Holdings, Inc. is anticipated to report earnings.

The report will cover the accounting quarter that ends in August 2022. The consensus estimate for EPS for the quarter, based on analyst projections, is $0.51. There was $0.2 in reported EPS for the same quarter last year. 

McCormick & Company, Incorporated

Mc McCormick & Company, Incorporated is a food industry manufacturer, marketer, and distributor of spices, seasoning mixes, condiments, and other flavorful products. It has two business segments: Consumer and Flavor Solutions.

On October 6, 2022, before the market opens, McCormick & Company, Inc. (MKC) is anticipated to report financial results. The report will cover the accounting quarter that ends in August 2022. The consensus estimate for EPS for the quarter, based on analyst projections, is $0.65. For the same quarter a year ago, there was a reported EPS of $0.8. 

McCormick & Company, Incorporated

A subsidiary, McCormick & Company, Inc. (MKC-V), is also expected to report earnings on 10/06/2022 before the market opens. The report will cover the fiscal quarter that ends in August 2022. Last year, the reported EPS for the same quarter was $0.8.

ConAgra Brands, Inc.

Conagra Brands, Inc. (CAG) is an American consumer packaged goods holding company. Conagra produces and markets goods under numerous brand names that can be found in grocery stores, eateries, and other food-related businesses.

On October 6, 2022, before the market opens, ConAgra Brands, Inc. is anticipated to report earnings. The report will cover the accounting quarter that ends in August 2022. 

Consensus EPS projections from analysts point to $0.52 for the quarter. For the same quarter last year, $0.5 in reported EPS was recorded. 

Tilray Brands, Inc.

When it comes to cannabis lifestyle and consumer goods, Tilray Brands (TLRY) is the industry leader. This coming Friday, investors should expect the company to release its next earnings update when it is anticipated to report earnings before the market opens.

The report will cover the accounting quarter that ends in August 2022. The consensus EPS forecast for the quarter is $-0.06, based on analyst projections. For the same quarter last year, there was a reported EPS of $0.08. 

Upcoming Top News

While on one side, investors will be keen on earnings reports, analysts and markets will be all ears for major economic meetings and announcements. Here is what is expected Tuesday. 

RBA Rate Statement

The Reserve Bank of Australia Monetary Policy Board has decided to raise the cash rate target by 25 basis points to 2.60 percent. That’s according to a statement from Governor Philip Lowe earlier today. The interest rate on Exchange Settlement balances was also raised by 25 basis points to 2.50 percent.

The Board is dedicated to gradually bringing inflation back to the 2-3% range. The current increase in interest rates will assist in achieving this objective, and additional increases will probably be needed in the coming months. 

JOLTS Job Openings

The US core durable goods orders and the JOLTs job openings for August will also be in the spotlight later today. It’s expected today’s data to have an impact alongside FOMC member chatter in the wake of the market response to Monday’s ISM Manufacturing PMI and subcomponents. 

The ECB President Lagarde and FOMC Member Mester are expected to make major pronouncements.

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  • Zahari Rangelov

    Zahari Rangelov is an experienced professional Forex trader and trading mentor with knowledge in technical and fundamental analysis, medium-term trading strategies, risk management and diversification. He has been involved in the foreign exchange markets since 2005, when he opened his first live account in 2007. Currently, Zahari is the Head of Sales & Business Development at TraderFactor's London branch. He provides lectures during webinars and seminars for traders on topics such as; Psychology of market participants’ moods, Investments & speculation with different financial instruments and Automated Expert Advisors & signal providers. Zahari’s success lies in his application of research-backed techniques and practices that have helped him become a successful forex trader, a mentor to many traders, and a respected authority figure within the trading community.