The corporate earnings season kicks into high gear this coming week, with big bank Goldman Sachs and streaming giant Netflix on deck to report. Other companies slated to post their latest quarterly numbers include IBM and Snap. Investors have been bracing for this reporting period, as they anxiously await to hear what corporate America has to say about surging inflation and rising interest rates. Take a look at CNBC Pro’s breakdown of what’s expected from each report. Monday Bank of America is set to report earnings before the bell, with a conference call slated for 8:30 a.m. ET. Last quarter: BAC shares jumped after the bank’s results topped analyst expectations on better-than-expected credit . This quarter: Analysts expect a small uptick in year-over-year revenue along with a steep decline in earnings per share, according to Refinitiv. What CNBC banking reporter Hugh Son is watching: “Bank of America is supposed to be a winner in a rising rate environment, so any evidence of improved profitability at the lender will be welcomed by investors. And its CEO, Brian Moynihan, has been relatively confident about the state of consumers. Will he maintain that position, given the increasing odds of recession?” What history shows: Bank of America’s stock typically doesn’t fare well on earnings days. According to Bespoke Investment Group, BAC averages a loss of nearly 1% after earnings. Goldman Sachs is set to report earnings in the premarket. A conference call with management is scheduled for 8:30 a.m. ET. Last quarter: GS earnings crushed analyst expectations, thanks to strong trading desk revenues . This quarter: Goldman’s earnings per share and revenue for the quarter are expected to fall sharply. What CNBC banking reporter Hugh Son is watching: “Goldman Sachs often tops trading revenue expectations during especially volatile times, but will that be enough in the second quarter? Other lenders have posted writedowns tied to falling asset prices so far, and Goldman could have its own issues to disclose.” What history shows: Goldman shares average a slight decline on earnings. However, the company has beaten analyst expectations 87% of the time. IBM is set to report earnings after the bell, followed by a conference call at 5 p.m. ET. Last quarter: IBM reported first-quarter results that beat analyst expectations . This quarter: Analysts polled by Refinitiv expect the company to report a 19% drop in year-over-year revenue for the quarter. What CNBC tech reporter Jordan Novet is watching: “IBM shares have fared better than 85% of S & P 500 constituents this year, in part thanks to a cash dividend that has become more appealing to investors concerned with rising interest rates. IBM’s latest mainframe computer, the z16, became available on May 31, and that should provide a boost to revenue. The cycle of organizations buying new mainframes is ‘independent of economic cycles,’ Bernstein’s Toni Sacconaghi Jr., who has the equivalent of a hold rating on IBM, wrote in a Wednesday note. Even so, Sacconaghi and other analysts have trimmed their full-year estimates for IBM’s revenue and earnings per share in recent days to recognize the strength of the U.S. dollar.” What history shows: IBM has beaten earnings expectations 83% of the time, according to Bespoke data. However, the stock typically averages a decline of 0.6% on the back of the company’s quarterly results. Tuesday Johnson & Johnson is set to report earnings before the bell, followed by a conference call at 8:30 a.m. ET. Last quarter: JNJ lowered its 2022 earnings and revenue guidance . This quarter: Analysts expect the pharmaceutical giant’s earnings and revenue to grow slightly from the year earlier period. What history shows: J & J has beaten earnings expectations 95% of the time, according to Bespoke. The stock averaged a 0.3% gain on earnings days. Hasbro is set to report earnings before the bell. Management is expected to hold a conference call at 8:30 a.m. ET. Last quarter: HAS reported earnings of 57 cents per share, missing a Refinitiv forecast of 61 cents per share. This quarter: Analysts expect the toymaker to report slight year-over-year revenue growth for the quarter. What CNBC entertainment reporter Sarah Whitten is watching: “High costs and supply chain issues lead to weaker-than-expected earnings during the first quarter for Hasbro. Investors will be looking to see if the company saw improvement during the second quarter and what steps the company is taking to deal with these ongoing issues. The company also recently won a proxy battle against activist investor Alta Fox , a challenge that suggested Hasbro should shake-up its board and spin off its lucrative ‘Wizards of the Coast’ division. ‘Dungeons and Dragons’ alongside ‘Magic: The Gathering,’ both part of that division, have been key growth drivers for the company and will likely be top revenue drivers for the second quarter.” What history shows: Hasbro shares typically do well on earnings days, averaging a gain of 1.44%, Bespoke data shows. Netflix is set to report earnings after the bell, followed by a conference call at 6 p.m. ET. Last quarter: NFLX shares cratered after the streaming giant reported its first subscriber loss in more than 10 years . This quarter: Netflix earnings are expected to be flat year over year, but revenue is forecast to grow by nearly 10% year over year, according to Refinitiv. What CNBC entertainment reporter Sarah Whitten is watching: “It’s all about subscriber growth, or rather subscriber loss, when it comes to Netflix earnings. The company has predicted that it will have seen a loss of around 2 million subs during the most recent quarter. If that loss is greater, shares could fall significantly. However, some analysts foresee ‘Stranger Things’ season four having a positive impact on subscriptions, which could help the company beat the expectations set last quarter. Investors will be listening for guidance on subscriber numbers for the third and fourth quarters and additional information from the company on its new ad-tier.” What history shows: Bespoke data shows Netflix beats earnings expectations 81% of the time, though the stock averages a 0.4% loss the day results are released . Wednesday Tesla is set to report earnings after the close. Company executives are expected to hold a conference call at 5:30 p.m. ET. Last quarter: TSLA reported record margins for the first quarter , with revenue coming in at $18.76 billion . This quarter: Analysts see Tesla earnings and revenue jumping sharply on a year-over-year basis, according to Refinitiv. What CNBC tech reporter Lora Kolodny is watching: Operations in China, and at two new vehicle assembly plants outside of Berlin and Austin, Texas will be in focus. During the quarter, Covid restrictions in Shanghai impeded Tesla’s vehicle production, and contributed to parts shortages. Partly because Tesla’s senior director of AI, Andrej Karpathy, just announced he was leaving the company, investors are also eager for updates on Tesla’s progress and remaining hurdles where self-driving vehicles are concerned. CFO Zachary Kirkhorn should also inform investors as to how much the recent decline in cryptocurrency has affected Tesla, which has invested significantly in bitcoin in the past. What history shows: Tesla shares average a gain of 1.28% after the electric automaker posts its latest quarterly figures, Bespoke data shows. United Airlines is set to report earnings after the bell. The company is expected to hold a conference call the next day. Last quarter: UAL forecast a profit for 2022 as travel demand soars and consumers pony up more money to fly . This quarter: The airline’s second-quarter revenue is expected have doubled year over year, Refinitiv data shows. What CNBC airlines reporter Leslie Josephs is watching: “Travel demand soared this year, but United and other airlines had to pull back their schedules to try to limit disruptions. United is no exception, and investors will want to know how much that cost them. Rival Delta disappointed investors last week with costs that ate into profits. United executives will outline their progress on staffing and their economic outlook, from customers’ ability to digest higher fares and business travel bookings as the summer vacation surge fades.” What history shows: The airline typically struggles on earnings days, averaging a loss of nearly 1% after posting results, according to Bespoke. Thursday American Airlines is set to report earnings before the bell, with management expected to hold a conference call at 8:30 a.m. ET. Last quarter: AAL guided for a profit in the second quarter, citing strong travel demand . This quarter: Analysts polled by Refinitiv expect a return to profitability for the airline and sharp revenue growth from the year-earlier period. What CNBC airlines reporter Leslie Josephs is watching: “American Airlines has been more aggressive in adding back flights than its competitors, but will the uptick in travel delays force it to slow down? Investors will be eager to hear how the airline is absorbing high fuel costs and whether customers will continue to pay up for plane tickets with fares already above 2019 levels. American executives will also outline progress in contract negotiations with its pilots’ union, flight attendants’ union and its hiring goals.” What history shows: Bespoke data shows the airline beats earnings expectations 88% of the time . Mattel is set to report earnings after the bell, with a conference call slated for 5 p.m. ET. Last quarter: MAT posted a surprise profit on strong demand for Barbies and Hot Wheels . This quarter: Mattel’s earnings per share are expected to have doubled year over year, with revenue growing slightly, Refinitiv data shows. What CNBC entertainment reporter Sarah Whitten is watching: “Investors will be keen to see continued sales growth, as well as hear more from the company about its upcoming slate of in-house entertainment content. On-set photos from the upcoming ‘Barbie’ movie starring Margot Robbie and Ryan Gosling have stirred excitement, but little is known about the development of the company’s other projects based on its popular IP.” What history shows: Mattel has posted better-than-expected quarterly earnings in the last three quarters. Snap is set to report earnings after the close, with a conference call slated for 5 p.m. ET. Last quarter: Snap had a “challenging” quarter , falling short of sales and profit estimates. This quarter: The social media company is expected to post a small loss for the period, but revenues are expected to grow by double digits, according to Refinitiv. What CNBC technology reporter Jonathan Vanian is watching: “A possible global recession could hit Snap especially hard with companies potentially cutting back on their online advertising campaigns with the social media service. Snap already had a tough first quarter when it missed Wall Street’s expectations for profit and revenue. At the time, Snap blamed macroeconomic conditions including Russia’s invasion of Ukraine as reasons for companies pulling back on ad spend, thus hurting its core online advertising business. Then in May, Snap issued a warning that the ‘macroeconomic environment deteriorated further and faster than anticipated.’ All eyes will be on what Snap is forecasting for it its upcoming third quarter, which would give investors a view into whether advertisers are preparing for a weaker economy.” What history shows: Bespoke data shows Snap shares average a gain of 5% on earnings.
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