This week will be a big one for companies reporting in the consumer goods sector. How was this holiday season? We'll find out shortly.
Several big names in the sector will report this week, representing a wide variety of goods, from cars and trucks, to athletic clothing and high-end retail. I'll focus on one big name reporting, and will also provide estimates for several other names in the sector.
Ford (F) - Friday, before bell: The automotive giant will report its fourth quarter and full year results at the end of the week. While the company has already provided sales data for its units sold, everyone is patiently waiting for the actual financial data.
In terms of revenues, Ford is expected to see quarterly revenues rise by almost 7% to $32.35 billion. How many cars were bought as holiday presents? We may soon find out. However, despite the sales rise, earnings are projected to fall by a nickel to $0.25 per share. Estimates have come down recently, as analysts were expecting about $0.32 a share just three months ago.
For the full year, Ford's sales were up in the low to mid teens in terms of units, which translates to a currently estimated 15.3% revenue growth for the year. Revenues are estimated to come in at $128.2 billion. However, higher costs are projected as well, so earnings are expected to decline by four cents to $1.87. Ford has beaten in the past three quarters, so it is quite possible that the company could make up those four cents and match 2010's earnings per share number of $1.91.
Sales numbers are expected to rise slightly in 2012, but not at the pace we saw in 2011. Current expectations call for growth of slightly more than 3%, with analyst's mean estimate for $132.6 billion in the fiscal year. However, with costs expected to rise even more, earnings are expected to decline further. Current estimates call for just $1.56, which is well below the current $1.87 estimate for 2011. Analysts have been cutting estimates for the sector lately, with Ford's estimates coming down nearly 20 cents in the past three months alone.
Harley Davidson (HOG) - Tuesday, before bell: The motorcycle company will report its fourth quarter and full year results Tuesday morning. For the quarter, revenues are expected to rise by approximately 10% to just over $1 billion. Earnings per share are projected to show significant improvement, from an 18 cent loss a year ago to a 23 cent profit in the recent quarter. For the full year, revenues are estimated to rise by 11% to $4.64 billion. Earnings per share are projected to more than double, from $1.11 in 2010 to about $2.33 in 2011. Revenues are estimated to rise by 6% in 2012, with earnings per share rising at about four times that pace.
Under Armour (UA) - Thursday, before bell: The athletic apparel maker will report fourth quarter and full year results later in the week. The high growth name is expected to post solid results, including more than 34% in revenue growth, to over $404 million. Earnings per share for the quarter are projected to rise at a slightly higher rate, from $0.44 a year ago to $0.61 in the most recent quarter. For the full year, the company is expected to see revenue growth of nearly 39%, to a new record of $1.47 billion. Earnings per share are projected to rise 50 cents over the prior year, to $1.84. While growth will slow down in 2012, revenues are still projected to rise by roughly 25%, with earnings per share rising at a slightly higher rate.
Coach (COH) - Tuesday, before bell: The accessories retailer will report its fiscal second quarter results this week. Expectations call for revenues to rise by 13.1% to $1.43 billion. Earnings per share are projected to rise by 15% to $1.15 for the quarter. In their current fiscal year, ending in June, revenues are projected to rise by nearly 14%. Earnings per share are expected to increase at a faster rate, from $2.93 in the prior year to $3.44 in the current fiscal year.
Altria (MO) - Friday, before the bell: The cigarette maker will report its fourth quarter and full year results at the end of the week. For the quarter, the company is projected to see its revenues increase to $4.23 billion, a 2.2% increase over the prior year period. Earnings per share are forecasted to rise by a nickel to $0.49. For the full year, revenues are estimated to be flat to slightly up. Earnings per share are forecasted to rise from $1.90 in 2010 to about $2.03 in the 2011 fiscal year.
Callaway Golf (ELY) - Wednesday, before the bell: The golf club and ball maker will report its fiscal fourth quarter and full year results in the middle of the week. For the period, revenues are projected to decline by over 17% to $153.5 million. However, despite the large drop in revenues, earnings per share are expected to be equal to last year's 40 cent loss in the quarter. Overall, revenues are expected to decline by more than 8% to $886 million. For the full year, the company's overall loss is expected to accelerate to 62 cents a share from 24 cents in the prior year. Most of that loss came in the third quarter. The company is hoping for a rebound in both sales and earnings in 2012, and current estimates have them returning to a profit in the current year.
Xerox (XRX) - Wednesday, before bell: The document imaging and equipment maker will report fourth quarter and full year results on Wednesday. Revenues for the quarter are projected to edge up, by 1.5%, to $6.07 billion. Earnings per share should increase at a higher amount, by four cents to $0.29 a share. Full year numbers are expected to be better on the revenue side, with a 5.2% increase to $22.76 billion. Earnings per share will increase at more than twice that rate, with a fourteen cent rise to $1.08. However, both revenue and earnings per share growth are expected to slow down in 2012.