Foot Locker and Deere are scheduled to post their respective first quarter of the fiscal year 2017 (1QFY17) and 2QFY17 financial results before Friday, May 19 opening bell. Given exceptional earnings beat trends in the past, the analysts anticipate both Foot Locker and Deere to outperform their top and bottom lines forecasts this season.
According to FactSet data, consensus expects Foot Locker, Inc. (NYSE:FL) to announce $1.38 in earnings per share (EPS) tomorrow. Concurrently, Earningswhispers.com predicts EPS to be higher at $1.39, which is interestingly same as what the New York-based company reported for the same quarter of last year. Nonetheless, Street estimate lies above Foot Locker’s previous quarter earnings of $1.37 per share.
Wall Street analysts believe that Foot Locker will publish $2.02 billion revenues for the season. While the aforementioned estimate would lead to 1% year-over-year (YoY) surge in revenues, it would allow the $9.12 billion company’s top line to shrink 3.81% quarter-over-quarter (QoQ). On the other hand, Estimize.com anticipates FL’s revenues to increase 1.5% YoY to $2.03 billion, beating Wall Street forecasts on the top line.
Deere & Company
Deere & Company has acquired consensus EPS estimate of $1.70. If this happens, Deere & Company (NYSE:DE) earnings would not only grow 8.97% YoY, but they would also expand greater than 170% QoQ. In contrast, Earningswhispers.com believes that the Illinois-based company will exceed consensus bottom line expectations by five cents, with its EPS forecast of $1.75.
According to Thomson Reuters’ data, the consensus projects Deere & Company’s 2QFY17 revenues to clock in at $7.24 billion. However, Estimize.com believes that Deere’s revenues would reach $7.31 billion this season. Nonetheless, Street estimates indicate 29.36% QoQ growth on the top line. While the consensus expectation remains slightly above the $36.36 billion company’s revenue outlook of $7.18 billion, it falls slightly below its 2QFY16 net sales of $7.9 billion.