Earnings week ahead: Oracle, Adobe, Lennar, Darden and more
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Cloud software giants and Americaâs second-largest homebuilder headline an otherwise light schedule of earnings reports due out for the second full week of December. 
Oracle (NYSE:ORCL), Coupa Software (NASDAQ:COUP) and Adobe (NASDAQ:ADBE) will attract a great deal of attention as investors seek to understand software industry dynamics going into 2023. Additionally, homebuilder Lennar (NYSE:LEN) is due to report only a week after strong results from fellow industry player Toll Brother (TOL). Meanwhile, Darden Restaurants (DRI), an owner of various casual dining chains, is also on the docket.
Below is a curated list of reports due from December 12 to 16:
Monday, December 12
Oracle (ORCL)
Oracle (ORCL) is due to report its fiscal second quarter earnings after the bell on Monday. Shares of the Texas-based software giant have surged over 30% since the start of the calendar fourth quarter. This was aided by bullish long-term forecasts voiced during an October analyst day, where management said it was targeting $65B in revenue by 2026. 
While analysts have revised earnings estimates down significantly in the 90 days ahead of earnings, many have moved to a more optimistic view overall. For example, Piper Sandler analyst Brent Bracelin raised his rating to Neutral from Underweight shortly before the results.
"[Fiscal first-quarter] could mark a margin trough as Cerner cost synergies begin to appear and Oracle refocuses on driving operating efficiencies as the cloud business scales," Bracelin explained. âAssuming operating cash flows can exceed $15B annually, there should be ample flexibility to reduce debt and restart buy-backs over time.â

Consensus EPS Estimates: $1.17
Consensus Revenue Estimates: $12.01Bx
Earnings Insight: Oracle has exceeded EPS estimates in 6 of the past 8 quarters, missing revenue expectations only once in that span.

Also reporting: Coupa Software (COUP), Mesa Airlines (MESA) JOANN Inc. (JOAN), and Applied DNA Sciences (APDN)
Tuesday, December 13
ABM Industries (ABM)
New York-based industrial conglomerate ABM Industries is due to update investors on earnings results for its fiscal fourth quarter. Shares ABM have risen over 10% in 2022, far outpacing the performance of overall market. The company cruised to a narrow earnings beat for the fiscal third quarter. However, the firm also narrowed its guidance. 

Consensus EPS Estimates: $0.88
Consensus Revenue Estimates: $1.96B
Earnings Insight: ABM has beaten EPS estimates in 7 of the past 8 quarters, exceeding revenue expectations in all 8 of those quarters.

Also reporting: Aspen Group (ASPU), Braze Inc. (BRZE), and PHX Minerals (PHX)
Wednesday, December 14
Lennar (LEN)
Lennar (LEN) is due to post its fiscal fourth quarter earnings after the bell on Wednesday. Shares of the homebuilder have fallen 20% in 2022 as the housing market has cooled down amid climbing mortgage rates. 
Still, analysts remain broadly bullish. Seeking Alpha data show a consensus Buy rating on Wall Street. Citi analyst Anthony Pettinari represents one of the bulls, with the firm resuming coverage with a Buy rating ahead of the results. Pettinari argued that while housing demand is clearly moderating, the market is pricing in an overly severe correction.

Consensus EPS Estimates: $4.92
Consensus Revenue Estimates: $10.09B
Earnings Insight: Lennar has exceeded EPS expectations in 8 straight quarters, missing revenue estimates 3 times in that timeframe.

Also reporting: Weber (WEBR) 
Thursday, December 15
Adobe (ADBE)
Adobe (ADBE) is due to report its fiscal fourth quarter earnings results after the bell on Thursday. Shares of the California-based software company have slumped nearly 50% in the past year, accelerating losses from its mid-September Q3 earnings report and its agreement to buy online design collaboration company Figma for about $20B. The blockbuster acquisition has been the target of multiple DOJ inquiries since its announcement. 
Ahead of the report, analysts have trimmed targets for EPS and revenue 24 and 21 times, respectively. Meanwhile, ADBE has also showed signs of cost cutting, recently joining many tech peers in paring back its company headcount.

Consensus EPS Estimates: $3.50
Consensus Revenue Estimates: $4.53B
Earnings Insight: Adobe has beaten EPS estimates in 8 consecutive quarters, missing revenue estimates only once in that span.

Also reporting: Scholastic (SCHL), HEXO Corp. (HEXO), and Rite Aid (RAD)
Friday, December 16
Darden Restaurants (DRI)
Rounding out the earnings week, Darden Restaurants (DRI), the parent company of The Capital Grille, Olive Garden, LongHorn Steakhouse, and more, is set to post earnings in Fridayâs premarket hours. The Wall Street community surveyed by Seeking Alpha is broadly bullish, with a consensus Buy rating reflected in survey figures. Amid expected menu price increases, analysts have revised revenue upward 16 times in the 90 days prior to earnings. 
Still, consumer belt-tightening remains a concern as Bairdâs weekly restaurant survey showed slowing demand for restaurant spending.
"While we would consider Darden relatively well positioned to navigate a slower economy, we highlight the risk that tougher macro conditions could cause revenue trends to lag current model assumptions for FQ4/F2024, potentially creating some risk to earnings estimates," Baird analyst David Tarantino said ahead of the report, downgrading the stock to Hold.

Consensus EPS Estimates: $1.43
Consensus Revenue Estimates: $2.42B
Earnings Insight: Darden has beaten EPS estimates in 6 of the past 8 quarters, rising above revenue expectations 5 times in that span.

Also reporting: Winnebago Industries (WGO)