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The Q2 earnings cycle continues to wind down rapidly, with most S&P 500 companies already unveiling quarterly results. This week, retail companies have been stealing the spotlight.

Still, there are some notable reports yet to come, including those from NVIDIA (NVDA - Free Report), Macy’s (M - Free Report), and Lowe’s (LOW - Free Report). But how are things shaping up heading into their respective releases? Let’s take a closer look.

NVIDIA

Likely the most highly-awaited Q2 report of the entire cycle, investor favorite NVIDIA is scheduled to deliver its quarterly results on Wednesday, Aug. 23, after the market’s close. Following the company’s blowout Q1 and remarkable revenue guidance upgrade, everybody will be tuned into the results.

The AI-favorite posted record Data Center revenue in Q1, reported at $4.3 billion and growing 14% year-over-year and 16% sequentially thanks to surging demand. Regarding the quarter to be reported, the Zacks Consensus Estimate for Data Center revenue presently sits at $7.8 billion, suggesting a sizable 100% improvement year-over-year.

The company’s stellar Data Center results in Q1 exceeded the Zacks Consensus Estimate by nearly 10%, snapping a streak of negative surprises. To put it lightly, investors are ecstatic to hear further about the company’s artificial intelligence efforts.  

Image Source: Zacks Investment Research

NVIDIA’s expectations jumped following its robust Q1, with the $2.06 Zacks Consensus EPS Estimate up more than 80% since the release in May. Impressively, the value suggests a 300% jump in earnings from the year-ago quarter.

The stock sports the highly-coveted Zacks Rank #1 (Strong Buy), with a current Earnings ESP Score of +2.4%. Can shares pop again?

Image Source: Zacks Investment Research

Lowe’s

Home improvement retailer Lowe’s is scheduled to deliver results next Tuesday, Aug. 22, before the market’s open. A peer, Home Depot (HD - Free Report), already revealed its results, with the company exceeding both earnings and revenue expectations by 4.3% and 1.6%, respectively.

The market reacted somewhat positively to Home Depot’s results, with HD shares closing slightly higher post-earnings. Home Depot noted strength in smaller-sized projects, but it continued to see pressure in big-ticket discretionary categories, likely a reflection of the deceleration of home projects post-pandemic. In addition, the company reaffirmed its FY23 guidance.

For Lowe’s quarter to be reported, the Zacks Consensus EPS Estimate of $4.49 suggests a 3.5% pullback from the year-ago quarter, with the estimate being revised modestly lower since the end of May. Our consensus revenue estimate stands at $25.0 billion, 9% lower than year-ago quarterly sales of $27.5 billion.

Below is a chart illustrating the evolution of Lowe’s quarterly EPS Estimate.

Image Source: Zacks Investment Research

Macy’s

Retailer Macy’s will reveal results on Tuesday, Aug. 22, before the market’s open. The company has consistently exceeded the Zacks Consensus EPS Estimate, carrying an average EPS surprise of 60% across its last four quarters.

Analysts have taken their estimates for the quarter to be reported lower since May, with the $0.13 Zacks Consensus EPS Estimate down more than 80%. The value reflects an 80% drawdown from the year-ago period, with revenue also forecasted to see a 10% decline.

Image Source: Zacks Investment Research

It’s worth noting that shares had a solid reaction in response to the company’s latest quarterly results, as we can see below. Macy’s exceeded the Zacks Consensus EPS Estimate by more than 20% and marginally fell short of revenue expectations.

Image Source: Zacks Investment Research

Bottom Line

The Q2 cycle continues to wind down rapidly, with retail stealing much of the attention this week. Still, we have some important reports on the horizon for next week, including those from NVIDIA (NVDA - Free Report), Macy’s (M - Free Report), and Lowe’s (LOW - Free Report).

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