S&P 500 earnings, week of Feb. 21: 29 companies to report

Next week, 29 members of the S&P 500 are expected to report quarterly earnings, including Costco Wholesale Corp. and Home Depot Inc., according to S&P Global Market Intelligence data.

Monday, Feb. 21: 2 companies to report

APA Corp. and Williams Cos. Inc. are both expected to report year-over-year EPS gains on Monday. APA is expected to report $1.46 in quarterly EPS compared to a small loss in the final quarter of 2020, while EPS is expected to grow by 8.2% year over year at Williams to 34 cents per share.

Tuesday, Feb. 22: 12 companies to report

Diamondback Energy Inc. is expected to report $3.36 in quarterly EPS, a 310.1% increase year over year, while Caesars Entertainment Inc. is expected to report a 79-cent loss, making it one of only two companies expected to report a quarterly loss next week.

Wednesday, Feb. 23: 12 companies to report

Booking Holdings Inc. is expected to report $13.52 in quarterly EPS on Wednesday, compared to a loss in the year-ago quarter, while Live Nation Entertainment Inc. is expected to report a 55-cent loss for the fourth quarter of 2021.

Friday, Feb. 25: 3 companies to report

Analysts expect Pinnacle West Capital Corp. to report a quarterly profit of 5 cents per share compared to a loss a year earlier, but quarterly EPS at Evergy Inc. is expected to contract by over a third to 15 cents per share.

Sector outlook

Ten of the 11 sectors in the S&P 500 are projected to post earnings gains year over year for the calendar fourth quarter of 2021. Analysts had previously expected the utilities sector to eke out a small earnings gain year over year, but now expect the sector to post a slight 1.2% decline.

Earnings season winding down

Over 80% of the S&P 500 has reported quarterly results so far this earnings season.

Notable earnings reports, week of Feb. 14

Last week, Walmart Inc. reported normalized quarterly earnings of $1.53 per share, beating the consensus estimate by 3 cents.

Leidos Holdings Inc. reported $1.56 in quarterly EPS, missing the consensus estimate by 4 cents. Revenue also missed, increasing by only 7.3% year over year to $3.49 billion, compared to the consensus estimate of $3.51 billion.