Most Anticipated Earnings Reports for March 2023
Many noteworthy companies are queued up to release their Q4 2022 earnings reports in March. From Crowdstrike to Adobe to Nike, below are 20 market leaders that are scheduled to release earnings reports this month.
One note before we go on: We mention earnings per share (EPS) under analysts’ expectations. This metric tells you how much money a company makes per share of its stock. If the number is positive, that indicates profit. If the number is negative, it indicates the company is spending more than it’s earning.
March 6
Ciena Corporation (CIEN)
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What it is: Networking equipment producer for service providers like AT&T, Verizon and Comcast.
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Market Cap: Mid-cap (about $7 billion).
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What analysts are expecting: $0.22 earnings per share for the quarter. It last reported $0.49.
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How it performed in February: Ciena’s stock was down. Some investors were bearish because it reported lower profit margins and higher operating costs at the end of 2022, meaning it spent more on expenses and retained less profit.
March 7
Crowdstrike (CRWD)
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What it is: Cybersecurity company.
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Market Cap: Large-cap (about $27 billion).
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What analysts are expecting: -$0.16 earnings per share for the quarter. It last reported -$0.20.
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How it performed in February: The stock had a decent month. Investors were bullish after investment bank Morgan Stanley raised their price target from $135 to $150.
Squarespace (SQSP)
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What it is: Hosts websites and supplies tools for building them.
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Market Cap: Mid-cap (about $3 billion).
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What analysts are expecting: $0.06 earnings per share. It last reported $0.07.
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How it performed in February: The stock was up slightly, but it hasn’t broken out of a $20 to $28 price range since March 2022.
March 8
Brown-Forman (BF.B)
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What it is: Wine and spirits producer and owner of Jack Daniel’s.
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Market Cap: Large-cap (about $31 billion).
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What analysts are expecting: $0.47 earnings per share. It last reported $0.47.
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How it performed in February: Brown-Forman has been flat in 2023. The stock slid downward in November 2022 after the company reported lower net profits and profit margins than analysts expected.
March 9
Oracle (ORCL)
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What it is: One of the largest software companies in the world, best known for its software Java.
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Market Cap: Mega-cap (about $230 billion).
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What analysts are expecting: $0.95 earnings per share. It last reported $1.21.
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How it performed in February: The stock increased slightly at the end of February. Some investors were bullish because the company expanded its cloud software to compete with Microsoft.
Wheaton Precious Metals (WPM)
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What it is: Canadian mining company that specializes in gold, silver, cobalt and other precious metals.
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Market Cap: Large-cap (about $18 billion).
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What analysts are expecting: $0.25 earnings per share. It last reported $0.21.
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How it performed in February: The stock is up year-to-date, but not by much. Some investors were bullish after the company completed a new copper mine project (Salobo III).
Docusign (DOCU)
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What it is: Sells electronic signature services.
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Market Cap: Large-cap (about $12 billion).
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What analysts are expecting: $0.04 earnings per share. It last reported $0.05.
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How it performed in February: Docusign has performed decently, but negative news has made some investors bearish. The company laid off 10% of its workforce and UBS downgraded it from a “neutral” to a “sell.”
Toro Company (TTC)
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What it is: Manufactures outdoor landscaping equipment like lawnmowers.
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Market Cap: Large-cap (about $11 billion).
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What analysts are expecting: $0.91 earnings per share. It last reported $1.11.
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How it performed in February: The stock is down year-to-date, but only slightly. It got a boost after the company started paying dividends to shareholders at the end of December 2022. Its performance has been neutral since.
March 14
Smartsheet (SMAR)
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What it is: Cloud-based work management software.
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Market Cap: Mid-cap (about $5.6 billion).
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What analysts are expecting: -$0.37 earnings per share. It last reported -$0.30.
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How it performed in February: SmartsheetStocksheet had a solid start to the year but then had a rocky February. Even so, it was still up by 13% before March 1. Some investors were bullish on Smartsheet after they reported a 43% increase in total revenue at the end of 2022.
March 15
Adobe (ADBE)
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What it is: Software company known for its suite of creative apps.
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Market Cap: Large-cap (about 159 billion).
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What analysts are expecting: $2.97 earnings per share. It last reported $2.78.
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How it performed in February: Adobe started at roughly $383, then dropped sharply to $320 on February 24 to finish the month at $323. Investors were bearish after an antitrust lawsuit blocked its $20 billion acquisition of software company Figma.
Franco-Nevada (FNV)
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What it is: Gold-focused royalty and streaming company based in Ontario.
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Market Cap: Large-cap (about 24 billion).
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What analysts are expecting: $0.85 earnings per share. It last reported $0.83.
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How it performed in February: Flat. The company has had some hiccups in production after a mine in Panama — Cobre Panama — suspended ore production over tax disputes with the government. Franco-Nevada makes royalties off two precious metal streams there.
March 16
FedEx (FDX)
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What it is: Transport and delivery company.
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Market Cap: Large-cap (about 51 billion).
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What analysts are expecting: $2.68 earnings per share. It last reported $3.18.
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How it performed in February: FedEx had a decent performance in February. Some investors were bullish after the company reduced operating costs. Others were bearish when the company laid off 10% of its officers.
Dollar General (DG)
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What it is: Chain of bargain variety stores.
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Market Cap: Large-cap (about 50 billion).
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What analysts are expecting: $2.95 earnings per share. It last reported $2.33.
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How it performed in February: Dollar General did not perform well. The stock fell hard after the company announced weaker sales and higher operating costs due to winter storms damaging inventory.
March 17
Algonquin Power Utilities (AQN)
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What it is: Canadian renewable energy company.
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Market Cap: Mid-cap (about 5 billion).
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What analysts are expecting: $0.19 earnings per share. It last reported $0.11.
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How it performed in February: The stock was flat. Some investors weren’t happy with Algonquin’s high levels of debt. Others were bearish after the company announced a dividend cut.
March 20
PDD Holdings Inc. (PDD)
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What it is: Chinese holding company that owns multiple e-commerce platforms.
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Market Cap: Large-cap (about 100 billion).
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What analysts are expecting: $1 earnings per share. It last reported $1.03.
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How it performed in February: The stock performed decently in February. It took a brief hit after its rival JD.com announced a $1.5 billion plan to lower its prices and compete with PDD’s subsidiary Pinduoduo. It has since recovered.
March 21
Nike (NKE)
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What it is: Shoemaker and the world’s largest athletic apparel company.
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Market Cap: Large-cap (about 185 billion).
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What analysts are expecting: $0.50 earnings per share. It last reported $0.85.
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How it performed in February: The Swoosh performed poorly in February. It fell from roughly $129 to $118. Most of this loss came after the company announced layoffs.
March 22
General Mills (GIS)
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What it is: One of the largest food manufacturers in the world.
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Market Cap: Mid-cap (about 47 billion).
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What analysts are expecting: $0.90 earnings per share. It last reported $1.10.
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How it performed in February: Not bad. The cereal and snack giant had some gains toward the end of the month after announcing their organic net sales growth will be higher than last year — 10% compared to 8% or 9%.
March 23
Accenture (ACN)
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What it is: Services and consulting company based in Ireland.
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Market Cap: Large-cap (about 169 billion).
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What analysts are expecting: $2.48 earnings per share. It last reported $3.08.
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How it performed in February: The stock fell from a high of $283 to a low of $265 at the end of the month. Some investors were bearish after CEO Julie Sweet admitted that customers were more hesitant to make purchases due to a weaker economy.
March 28
Micron Technology Co (MU)
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What it is: Semiconductor company.
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Market Cap: Large-cap (about 62 billion).
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What analysts are expecting: -$0.75 earnings per share. It last reported -$0.15.
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How it performed in February: The chipmaker’s stock performed poorly. Investors were worried about its earnings after the company cut salaries, suspended bonuses, and announced layoffs.
March 30
Walgreens (WBA)
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What it is: Second-largest pharmacy chain in the U.S.
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Market Cap: Large-cap (about 31 billion).
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What analysts are expecting: $1.11 earnings per share. It last reported $1.16.
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How it performed in February: Flat. The company attracted some investors with a high dividend yield. But its lackluster earnings in 2022 made some investors bearish.
Neither the author nor editor held positions in the aforementioned investments at the time of publication.
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