Amazon.
com Inc.,
Apple Inc.
and
Meta Platforms Inc.
are among the tech heavyweights featured in a packed week of earnings that investors will probe for indicators about the broader economy.
Other tech companies scheduled to report their latest quarterly reports include Google parent company
Alphabet Inc.
and
Microsoft Corp.
Investors also will hear from airlines such as
Southwest Airlines Co.
and
JetBlue Airways Corp.
, automotive companies
General Motors Co.
and
Ford Motor Co.
, and energy giants
Chevron Corp.
and
Exxon
Mobil Corp.
Nearly a third of the S&P 500, or 161 companies, are slated to report earnings in the coming week, according to FactSet. Twelve bellwethers from the Dow Jones Industrial Average, including
Boeing Co.
and
McDonald’s
Corp., are expected to report as well.
The flurry of results from a broad set of companies will give a sense of how businesses are faring as they deal with inflation denting consumer spending, ongoing supply-chain challenges and a stronger dollar.
People awaited the release of Apple’s latest iPhones in New York last month. The company will report quarterly results on Thursday afternoon.
Photo:
ANDREW KELLY/REUTERS
One area holding up to the challenges has been travel. Several airline companies have reported that consumers still have an appetite to spend on trips and vacations. On Friday,
American Express Co.
raised its outlook for the year in part because of a surge in travel spending.
“We expected the recovery in travel spending to be a tailwind for us, but the strength of the rebound has exceeded our expectations throughout the year,” American Express Chief Executive
Stephen Squeri
said.
In addition to airlines reporting, companies such as car-rental company
Hertz Global Holdings Inc.
and lodging companies
Hilton Worldwide Holdings Inc.
and
Wyndham Hotels & Resorts Inc.
will offer reads into leisure spending.
Overall, earnings for the S&P 500 companies are on track to rise 1.5% this period compared with a year ago, while revenue is projected to grow 8.5%, FactSet said.
Other companies will serve as a gauge for how consumers have responded to higher prices and whether they have altered their spending as a result.
Coca-Cola Co.
and
Kimberly-Clark Corp.
on Tuesday and
Kraft Heinz Co.
on Wednesday will show how consumers are digesting higher prices.
Mattel Inc.,
set to report on Tuesday, will highlight whether demand for toys remains resilient. Rival
Hasbro Inc.
issued a warning ahead of the holiday season.
United Parcel Service Inc.
will release its results on Tuesday and provide an opportunity to show how it is faring ahead of the busy shipping season. The Atlanta-based carrier’s earnings come weeks after rival
FedEx Corp.
warned of a looming global recession and outlined plans to raise shipping rates across most of its services in January to contend with a global slowdown in business.
Results from credit-card companies
Visa Inc.
and
Mastercard Inc.
will offer insights into whether inflation has finally put a dent in consumer spending after both companies reported resilient numbers last quarter.
Wireless carrier
T-Mobile US Inc.’s
numbers on Thursday will give more context to mixed results from competitors
Verizon Communications Inc.
and
AT&T Inc.
AT&T
issued an upbeat outlook on Thursday after its core wireless business exceeded the company’s expectations, whereas Verizon on Friday said earnings tumbled as retail customers balked at recent price increases.
Other notable companies lined up to report include
Chipotle Mexican Grill Inc.
on Tuesday, chicken giant
Pilgrim’s Pride Corp.
on Wednesday and chip maker
Intel Corp.
on Thursday.
Write to Denny Jacob at [email protected]
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