Earnings Previews: AMC, Lyft, Marathon Digital, Rivian, Upstart

Before U.S. markets opened on Monday, Tyson Foods posted earnings per share (EPS) and revenue that both missed consensus estimates. The company reported impairment charges totaling $448 million for the quarter. Tyson also maintained its fiscal year revenue guidance slightly below the Wall Street estimates. Shares traded down 9.2% shortly after Monday’s opening bell.

Lucid, Palantir and Paramount Global will report quarterly results after markets close on Monday. First thing Tuesday morning, Barrick Gold, Datadog, Li Auto and UPS are on deck to share their latest results.

Here is a look at what analysts expect to hear from these five companies due to report quarterly earnings after Tuesday’s closing bell.

AMC Entertainment

Though shares of AMC Entertainment Holdings Inc. (NYSE: AMC) have added more than 20% to their price so far this year, the stock trades down nearly 75% over the past 12 months. Its 52-week high was posted on August 8, 2022.

AMC thought it had worked around a shareholder refusal to issue more shares after reaching a settlement with those shareholders who had filed suit to stop the increase. Last month, a Delaware judge ruled that the settlement could not go forward. With just under $500 million in cash and long-term debt of nearly $4.9 billion, and net debt of $9.15 billion, even Barbie cannot help much.

Since reporting fourth-quarter earnings in February, AMC has doubled its analyst coverage. Eight brokerages now cover the stock, and none has a Buy or Strong Buy rating. Only three have rated the shares at Hold. At a recent price of around $5.00 a share, the stock trades nearly three times higher than its median price target of $1.82. Shares also trade above the high target of $4.50.

Second-quarter revenue is forecast at $1.29 billion, which would be up 34.8% sequentially and by 10.3% year over year. Analysts expect AMC to report a loss per share in the quarter of $0.04, better than the prior quarter’s loss of $ 0.17 per share and also better than last year’s quarterly loss of $0.20 per share. For the full 2023 fiscal year, AMC is expected to post a loss per share of $0.38, compared with last year’s loss of $0.69 per share. Revenue is forecast to rise by 15.7% to $4.52 billion.

AMC is not expected to post a profit in 2023, 2024 or 2025. The enterprise value to sales multiple is expected to be 3.0 in 2023. Based on average estimated sales of $4.76 billion and $4.95 billion for 2024 and 2025, respectively, the multiples are 2.8 for 2024 and 2.7 for 2025. The stock’s 52-week trading range is $3.77 to $27.50. Total shareholder return for the past year was negative 56.99%.

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Ride-hailing operator Lyft Inc. (NASDAQ: LYFT) has suffered a share price decline of more than 37% over the past year. Rival Uber has meanwhile added nearly 42% to its share price, including a share price drop of nearly 15% last week after reporting quarterly results and noting that Lyft had begun competing effectively on pricing. Lyft’s stock took a 5% hit on its competitor’s report. How Lyft will turn profitable is a question investors will want to hear an answer for Tuesday afternoon.

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