Key Points
Investors already know what Tesla's Q1 production and deliveries figures look like, but other factors could cause moves for the stock.
Boeing has also already published its quarterly delivery numbers, but investors will be looking for other indicators for the business's outlook.
ServiceNow has seen a big valuation pullback in conjunction with bearish sentiment on SaaS stocks, but its Q1 report could allow the company to change the narrative.
The stock market has taken investors on a rollercoaster ride this year, with geopolitical and macroeconomic dynamics connected to the Iran war and other catalysts causing seesaw moves for equity valuations. Despite significant uncertainty on some important fronts, major indexes have recently gone on to hit fresh valuation highs.
While geopolitical and macroeconomic developments will continue to have a powerful impact on movement for the broader market, the latest round of corporate earnings will also play a huge role in shaping investor sentiment. With that in mind, let's take a look at three big earnings reports arriving this week that could have ripple effects across the market.
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1. Tesla
Tesla(NASDAQ: TSLA)is expected to report its first-quarter results after the market closes on April 22, and the company has already provided some key details that give investors a basic idea of what performance will look like for the period. With the Q1 update it published at the beginning of the month, Tesla announced that it had produced 408,386 vehicles in the quarter and delivered 358,023 vehicles.
Tesla's Q1 deliveries number came in below the average analyst estimate's targetfor 370,000 EVs delivered in the quarter that had been forecasted prior to the update, but investors have already had roughly three weeks to digest the shortfall and price the relevant data into the stock.On the other hand, sales and margins for the period should provide some relevant information when it comes to pricing strength.
While sales and earnings data for Q1 can still be expected to be a meaningful valuation catalyst, the story surrounding Tesla stock has moved beyond vehicle production and deliveries. Commentary from CEO Elon Musk and other members of the management team on the company's robotaxi business and Optimus humanoid robots could wind up being a much bigger driver when it comes to shaping post-earnings share-price moves.
2. Boeing
Boeing (NYSE: BA)is scheduled to report first-quarter earnings tomorrow morning, with management scheduled to host a conference call starting at 10:30 a.m. ET. Like Tesla, the company has already published some delivery numbers for the quarter that have given investors some insights into what to expect for the period. The business recorded 149 net orders in the quarter after accounting for cancellations and timing adjustments -- a level that surpassed Airbus's 114 deliveries in the period.
On the other hand, the company could be facing some supply chain challenges -- and investors will be looking for quarterly margin data and outlook guidance that can paint a picture of what the outlook for the rest of the year might look like. CEO Kelly Ortberg has said that the Iran war hasn't caused the company to need to adjust delivery schedules and also noted that geopolitical dynamics could spur demand in the defense category, but the demand and margins outlooks for the company's commercial and defense industry segments will be under the microscope.
3. ServiceNow
ServiceNow(NYSE: NOW)is also scheduled to publish its quarterly results tomorrow, with the software specialist on track to release its quarterly numbers after the market closes. While the company has seen some valuation recovery in conjunction with bullish momentum for the broader market, its share price has been under pressure this year as investors weigh the potentially disruptive impact of artificial intelligence (AI) on players in the software-as-a-service (SaaS) industry.
With its last update, ServiceNow guided for subscription revenue to come in between $3.65 billion and $3.655 billion -- representing an annual growth rate of 21.5% or a growth rate between 18.5% and 19% on a currency-adjusted basis.The company also guided for an operating-income margin of 31.5%. Meanwhile, remaining performance obligations were projected to increase 22.5% year over year -- or 20% on a currency-adjusted basis.
As of this writing, ServiceNow stock is down roughly 34% year to date and 57% from its all-time high. Beyond the significance of the company's Q1 results, investors will likely be looking at new contract data to get a read on whether the business is seeing any near-term headwinds connected to potentially disruptive trends in the SaaS space.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Boeing, ServiceNow, and Tesla. The Motley Fool has a disclosure policy.
