Earnings week ahead: Tesla, Netflix, Johnson & Johnson, Bank of America and more
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Earnings season picks up steam in mid-July, with a flurry of releases from some of the world's most prominent companies. This includes Elon Musk's EV giant Tesla (NASDAQ:TSLA).
The lineup also features major banks, pharmaceutical firms, prominent airlines, as well as tech and telecom giants. Looking at specific names, the week will see financial figures from Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), Morgan Stanley (MS), Johnson & Johnson (NYSE:JNJ), Abbott (NYSE:ABT), American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), IBM (NYSE:IBM), Netflix (NASDAQ:NFLX) and Taiwan Semiconductor (NYSE:TSM).
Moreover, the week will witness earnings results from American Express (NYSE:AXP), Lockheed Martin (NYSE:LMT), Kinder Morgan (KMI), Philip Morris (NYSE:PM), Blackstone (BX), Alcoa (AA) and Novartis (NYSE:NVS).
Below is a rundown of major quarterly updates anticipated in the week of July 17 to 21:
Monday, July 17
Equity LifeStyle Properties (NYSE:ELS)
Equity LifeStyle Properties (ELS) is set to announce its Q2 earnings update after the closing bell on Monday. The Seeking Alpha Quant Rating system maintains a Hold rating on the stock in contrast to Wall Street analysts' Buy rating.
Seeking Alpha contributor Gen Alpha suggests value investors should wait for a better entry point as the stock appears expensive compared to other REIT sectors, and no catalysts are expected to propel it forward in the near term.

Consensus EPS Estimates: $0.66
Consensus Revenue Estimates: $350.88M
Earnings Insight: The company has beaten revenue estimates in 8 straight quarters, missing FFO expectations twice in that period.

Also reporting: CSX (CSX), Omnicom Group (OMC), Fulton Financial Corporation (FULT) and more.
Tuesday, July 18
Bank of America (BAC)
Bank of America (BAC) will announce its Q2 earnings before the market opens on Tuesday. The report comes only days after J.P. Morgan (JPM) and Wells Fargo (WFC) reported better-than-expected Q2 results.
After passing the Federal Reserve's stress test, the bank announced plans to increase its quarterly common stock dividend by 9% to $0.24 per share beginning in Q3.
Looking at Wall Street attitudes headed into the release, the bank gets a Hold rating from Seeking Alpha's Quant Rating system, a more cautious view than the consensus Buy rating from Wall Street analysts.

Consensus EPS Estimates: $0.84
Consensus Revenue Estimates: $24.94B
Earnings Insight: The bank has exceeded EPS expectations in 7 of the past 8 quarters and revenue estimates in 5 of those reports.

Also reporting: Novartis AG (NVS) IBM (IBM), Lockheed Martin (LMT), Abbott Laboratories (ABT), ASML Holding N.V. (ASML), Morgan Stanley (MS), Halliburton (HAL), United Airlines (UAL), U.S. Bancorp (USB), Prologis (PLD), PNC Financial Services (PNC), Synchrony Financial (SYF), Citizens Financial (CFG), Interactive Brokers Group (IBKR), J.B. Hunt Transport Services (JBHT), Northern Trust (NTRS), Zions Bancorporation (ZION), Western Alliance Bancorporation (WAL), Pinnacle Financial Partners (PNFP) and more.
Wednesday, July 19
Tesla (TSLA)
In one of the most anticipated reports of the week, Tesla (TSLA) is slated to disclose its second-quarter earnings after the closing bell on Wednesday. Investors will focus on the EV makerâs sales after the company released a record delivery report earlier this month.
According to Seeking Alpha data, 12 analysts have a Strong Buy recommendation on TSLA, with three others viewing the stock as a Buy rating. There are also 18 analysts that have a Hold rating. In the bearish camp, the stock has received two Strong Sell recommendations and three Sell ratings.

Consensus EPS Estimates: $0.81
Consensus Revenue Estimates: $24.66B
Earnings Insight: Tesla has beaten revenue estimates in 6 of the past 8 quarters, missing EPS expectations only once in that period.

Also reporting: Netflix (NFLX), Taiwan Semiconductor Manufacturing Company Limited (TSM), Kinder Morgan (KMI), The Goldman Sachs Group (GS), Freeport-McMoRan (FCX), Intuitive Surgical (ISRG), Alcoa (AA), Crown Castle (CCI), Baker Hughes (BKR), M&T Bank (MTB), Discover Financial Services (DFS), Ally Financial (ALLY), Edgio (EGIO), Nasdaq, (NDAQ), PPG Industries (PPG), Steel Dynamics (STLD), Snap-on Incorporated (SNA), SL Green Realty (SLG), Equifax (EFX), Martin Midstream Partners L.P. (MMLP), First Horizon Corporation (FHN) and more.
Thursday, July 20
Johnson & Johnson (JNJ)
Johnson & Johnson (JNJ) is all set to release its Q2 financial figures prior to the market open on Thursday. The company reported an upbeat quarter last time around and raised its 2023 outlook. Analysts anticipate higher sales and EPS in Q2 compared to the previous year. 
The stock continues to get a consensus Buy recommendation from Wall Street analysts as opposed to a Hold rating from Seeking Alpha's Quant Rating system, which has flagged concerns about growth and valuation.

Consensus EPS Estimates: $2.62
Consensus Revenue Estimates: $24.7B
Earnings Insight: Johnson & Johnson (JNJ) has beaten EPS estimates in 8 straight quarters but has only exceeded revenue expectations in half of those reports.

Also reporting: Philip Morris International (PM), American Airlines (AAL), Blackstone (BX), Newmont (NEM), SAP SE (SAP), D.R. Horton (DHI), Truist Financial (TFC), Capital One Financial (COF), Genuine Parts (GPC), The Travelers Companies (TRV), KeyCorp (KEY), Infosys Limited (INFY), Fifth Third Bancorp (FITB), Marsh & McLennan Companies (MMC), AutoNation (AN), Knight-Swift Transportation Holdings (KNX), Pool Corporation (POOL), Banco Latinoamericano de Comercio Exterior, S. A. (BLX), Comerica Incorporated (CMA), Synovus Financial (SNV) and more.
Friday, July 21
Schlumberger Limited (NYSE:SLB)
The worldâs largest oilfield service company, Schlumberger (SLB), is due to announce its Q2 earnings in the premarket hours on Friday. The company topped expectations in Q1 but cash flow from operations was $330M -- less than half the consensus estimate of $710M.
The company's shares have surged about 78% in the past 12 months. Meanwhile, the stock has attracted a Strong Buy rating from Wall Street analysts. Despite this optimism, Seeking Alphaâs Quant team has a more cautious view, issuing a Hold rating.

Consensus EPS Estimates: $2.82
Consensus Revenue Estimates: $15.51B
Earnings Insight: The company has beaten EPS and revenue estimates in 6 of the past 8 quarters.

Also reporting: American Express (AXP), Huntington Bancshares (HBAN), Regions Financial (RF), Roper Technologies (ROP), The Interpublic Group of Companies (IPG) and more.