First-Quarter Earnings Season Kicks Off: Key Reports to Watch

Strategic Insights -

The first-quarter earnings season begins this week, with major financial institutions, including JPMorgan Chase, Goldman Sachs, and Citigroup, set to report their quarterly results. The Dow and S&P 500 closed at record highs on Friday, and analysts are optimistic about the economic recovery, citing a potential two-year boom. Key reports to watch include JPMorgan Chase, Goldman Sachs, PepsiCo, Citigroup, and Delta Air Lines.

Key Takeaways:

  • JPMorgan Chase is expected to report adjusted net income of $9.3 billion, or $3.07 a share, on sales of $30.5 billion, beating last year's earnings of 78 cents a share.
  • Goldman Sachs is expected to report adjusted net income of $3.7 billion, or $10.20 a share, on sales of $12.6 billion, outpacing last year's earnings of $3.11 a share.
  • PepsiCo is forecasted to report net income of $1.6 billion, or $1.12 a share, on sales of $14.5 billion, with quarterly estimates having risen by 112.2 cents a share in the past month.
  • Citigroup is expected to report adjusted net income of $5.4 billion, or $2.57 a share, on sales of $18.8 billion, surpassing last year's earnings of $1.05 a share.
  • Delta Air Lines is forecasted to report a loss of $1.74 billion, or $2.90 a share, on sales of $4 billion, despite a rise in the stock price of 20.1% since its last earnings report.
  • JPMorgan Chase CEO Jamie Dimon predicted a two-year economic boom, while Citigroup CEO Jane Fraser implemented measures to reduce employee stress, such as halting Zoom calls on Fridays.
  • Goldman Sachs has moved to offer wealth management clients investment options in bitcoin and other digital assets.
  • PepsiCo partnered with basketball star LeBron James to launch a new energy drink.

Statistics:

  • JPMorgan Chase reported a net income of $8.5 billion in the same quarter last year.
  • Goldman Sachs reported a net income of $1.9 billion in the same quarter last year.
  • PepsiCo's quarterly estimates rose by 112.2 cents a share over the past month.
  • Citigroup reported a net income of $5 billion in the same quarter last year.
  • Delta Air Lines posted a loss of 51 cents a share in the same quarter last year.
  • The stock market has risen 12.6% for JPMorgan Chase since its last earnings report.
  • The stock market has risen 12.6% for Goldman Sachs since its last earnings report.
  • The stock market has risen 5.6% for PepsiCo since its last earnings report.

Sources:

  • TheStreet.com
  • FactSet survey of 21 analysts for JPMorgan Chase
  • FactSet survey of 19 analysts for Goldman Sachs
  • FactSet survey of 19 analysts for PepsiCo
  • FactSet survey of 20 analysts for Citigroup
  • FactSet survey of 17 analysts for Delta Air Lines
  • Jamie Dimon, JPMorgan Chase CEO
  • Jane Fraser, Citigroup CEO
  • Jim Cramer, TheStreet.com
  • Action Alerts PLUS charitable trust
  • LeBron James