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Earnings Preview: UBS, Uber, Disney & Canopy Growth

Plus500 | Monday 06 November 2023

This week, a myriad of companies are scheduled to report their quarterly earnings results, which can be a helpful gauge of the overall economic health and the health of a specific industry.

From UBS to Uber, and Disney to Canopy Growth here’s what you should expect from this week’s earnings releases:

an image of stacks of coins representing earnings

Monday’s Earnings Reports: UBS and Uber

This week’s earnings releases will kick off from Uber (UBER) and UBS (UBSG.VX) reports on Monday, November 6 before the ring of the bell. 

Following a tumultuous year for the banking sector whereby many big banks collapsed and announced their bankruptcy, many traders, investors, and consumers may have their eyes set on UBS’ earnings which can provide a helpful overview of how the banking sector is faring lately. 

This is especially true in light of the fact that UBS had acquired its rival Credit Suisse back in June. As such, this event could reveal how this merger had affected this big bank. (Source: Wikipedia)

While the results of the release are yet to be seen, some projections suggest that UBS will report a 35.7% YoY revenue increase to land at $11,177 billion and an EPS of 23 cents a share.  Some also note that UBS’ progress can be significantly dependent on retaining skilled personnel and promptly addressing the challenges faced by Credit Suisse. 

Besides these estimates, traders may also want to bear in mind the fact that since the beginning of the year, UBS has gained over 22%, and it will be interesting to see how today’s earrings will affect its performance. 

UBS Group graph from January to November 2023

As for transportation giant Uber, some analysts seem to be bullish recently and expect an EPS of $0.07 and a revenue of $9.55 billion. Furthermore, like UBS, Uber also seems to have had a good performance this year as it soared by over 88% since the start of 2023 and traders may want to keep a close eye on its share performance following the release. 

Uber graph from January to November 2023

Will Disney Get Its Fairy Tale Ending?

After a less-than-stellar year for entertainment giant Disney (DIS) whereby the company lost over 4% of its value since the beginning of 2023, this week’s earnings release may be closely watched to see what may have contributed to this downward trend. 

Disney graph from January to November 2023

Disney will release its earnings on Wednesday, November 8, after market close and some investors expect its EPS to stand in at $0.69 on revenue of $21.42 billion as they examine how the company’s efforts to cut streaming losses have affected its results. 

Despite this rollercoaster year, it is crucial to acknowledge that Disney may have strategically positioned itself for continued growth.

A significant development on the horizon is Disney's recent announcement of its intent to acquire Comcast’s (CMCSA) 33% stake in Hulu which may underscore Disney's commitment to advancing its presence in the competitive streaming industry. In line with this acquisition, Disney is set to invest a substantial $8.61 billion, with the completion slated for 2024.

Only time will tell whether Disney will be able to regain its spark. 

Will Canopy’s Stock Grow Back?

On Thursday, October 9, cannabis giant Canopy Growth (CGC) is set to report earnings before the market opens. (Source: Nasdaq)

The company seems to have had a volatile year and has slid by over 72% since the start of 2023. In line with these results, the company is expected to report lower revenues. According to Zacks Consensus Estimate, Canopy is expected to post a revenue drop of 25.7% to land at $67.17 million. On the other hand, its earnings are expected to grow by 57.1% YoY. 

Canopy Growth graph from January to November 2023

While many factors may have contributed to this drop, it may be worth keeping in mind that since cannabis was legalized, many other cannabis stocks have underperformed. In addition, many cannabis companies may have bought smaller competitors before marijuana was legalized, which may have led to more losses after the legalization. 

Only time will tell if the fortunes could turn for the cannabis industry, in general, and for Canopy Growth, in particular.

Conclusion

This week, a myriad of companies from various sectors are expected to reveal how they’ve fared and can provide valuable insights about the state of the overall economy. As such, traders, analysts, and consumers alike may want to keep close tabs on this week’s releases to see what might come about and how it might affect their trading and the overall markets.


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