The first-quarter earnings season gets underway as Alcoa Inc (NYSE: AA) steps into the spotlight Wednesday. It may not be quite the bellwether it was as part of the Dow, but if Wall Street's expectations for Alcoa earnings are still any sign of things to come, the first quarter may be off to a strong start.
Results of a handful of retailers also will highlight the week on the earnings front. Analysts are looking for earnings growth from Bed Bath & Beyond Inc. (NASDAQ: BBBY), Rite Aid Corporation (NYSE: RAD) and Walgreens Boots Alliance Inc (NASDAQ: WBA), but shrinking profits at Family Dollar Stores, Inc. (NYSE: FDO) and Pier 1 Imports Inc (NYSE: PIR).
Below is a quick look at what analysts are looking for from these results, as well as a peek at the following week's most anticipated earnings reports.
Alcoa
This leading global aluminum producer will post $0.29 EPS for its first quarter, if the consensus of 30 Estimize estimates is accurate. That would be up from $0.09 per share in the same period of last year. Note that earnings easily exceeded Wall Street's expectations in the past four quarters.
Revenue for the three months that ended in March is predicted to have climbed from $5.45 billion in the year-ago quarter to $6.09 billion, says Estimize. Wall Street expects sequential and year-on-year growth on both the top and bottom lines in the current period. Watch for Alcoa's report after Wednesday's closing bell.
See also: Analyst: Why I'm Bullish On Alcoa's Aerospace Plan
Bed Bath & Beyond
The fiscal fourth-quarter forecast for this domestics retailer calls for EPS that climbed from $1.60 in the year-ago period to $1.78. Revenues for the three months that ended in February are expected to have gained less than 5 percent to $3.35 billion, according to 17 estimates.
Wall Street is looking for $5.05 EPS for the full year, which would be an improvement from the $4.79 per share in the previous year. The anticipated revenue of $11.90 billion would be less than 4 percent higher. Look for Bed Bath & Beyond to release its results Wednesday after the regular trading session ends.
Family Dollar Stores
The consensus of seven estimates for this variety store operator call for a profit of $0.73 per share and for revenue to total $2.79 billion for its fiscal second quarter, when it reports Wednesday morning. That would compare to $0.80 EPS and revenue of $2.72 billion in the same period of last year.
Note that Family Dollar earnings fell short of analysts' expectations by 29 percent in the previous period. Wall Street has overestimated EPS in all the past four quarters. Looking ahead, another year-over-year slip in earnings, but on some growth on the top line, is expected so far in the current quarter.