Earnings Week Ahead: Salesforce, Broadcom, Dollar General and more
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A holiday-shortened week still packs an ample slate of earnings reports, as May comes to an end and the final month of the calendar quarter gets started. 

Tech results headline the week with Salesforce (NYSE:CRM), Broadcom (NASDAQ:AVGO) and Chewy (CHWY) on the docket. These will be joined by cybersecurity favorites Okta (OKTA), CrowdStrike Holdings (CRWD) and Zscaler (ZS). 

Meanwhile, the consumer staples sector will also see a handful of key results with Dollar General (DG) and Hormel (HRL) on the schedule. Rounding out the week, retail earnings continue to roll in, with Macyâs (M), lululemon athletica (LULU), Victoriaâs Secret (VSCO), PVH Corp. (PVH) and Capri Holdings (CPRI) all due to provide quarterly updates.

Below is a rundown of major earnings reports scheduled for the week of May 29 to June 2:

Monday, May 29

US markets closed for Memorial Day holiday

Tuesday, May 30

HP Inc. (NYSE:HPQ)

HP Inc. (HPQ) is set to announce its fiscal second quarter earnings update after the closing bell on Tuesday. Shares of the California-based personal computer company have risen about 15% year to date, rebounding from a steep slide in the back half of 2022. 

The consensus sell-side rating on the stock remains a Hold despite a recent upgrade at Morgan Stanley. Disclosures released shortly before the earnings print revealed Berkshire Hathawayâs move to increase its stake in the company during Q1.


Consensus EPS Estimates: $0.76
Consensus Revenue Estimates: $13.05B
Earnings Insight: HP has beaten EPS in 6 of the past 8 quarters, topping revenue estimates in 4 of those reports


Also reporting: Manchester United (MANU), Hewlett-Packard Enterprise (HPE), and Box Inc. (BOX)

Wednesday, May 31

Salesforce.com (CRM)

Salesforce (CRM) headlines the midweek with its fiscal first quarter earnings update due in postmarket hours on Wednesday. Shares of the San Francisco-based CRM software provider have surged over 50% higher to start 2023, rising alongside much of the tech sector. The cloud computing companyâs generative AI for CRM, Einstein GPT, has attracted attention ahead of the print. 

The Seeking Alpha Quant Rating system upgraded Salesforce to Strong Buy ahead of its Q4 report, after which the stock has rocketed about 30% higher. The process for grading stocks based on quantitative measures maintains that rating at present despite a flagging valuation grade. Meanwhile, Third Point, the hedge fund founded by Daniel Loeb, took a new position in Salesforce during Q1.


Consensus EPS Estimates: $1.61
Consensus Revenue Estimates: $8.17B
Earnings Insight: Salesforce has topped EPS and revenue estimates in 8 consecutive quarters.


Also reporting: CrowdStrike (CRWD), Veeva Systems (VEEV), Chewy (CHWY), Okta (OKTA), Advance Auto Parts (AAP), C3.ai (AI), PVH Corp. (PVH), Capri Holdings (CPRI), and Victoria's Secret (VSCO)

Thursday, June 1

Broadcom (AVGO)

Broadcom (AVGO) is set to report its fiscal second quarter earnings result after the bell on Thursday. Shares of Broadcom have rocketed over 30% higher to start 2023, adding to gains following Nvidiaâs (NVDA) big earnings beat in the week prior to the print. The stock has also been boosted by a multi-billion-dollar deal with Apple to provide the iPhone manufacturer with U.S.-made 5G radio frequency components and wireless connectivity components. 

"We reiterate Buy on AVGO on this improved certainty, and separately on its highly underappreciated/overlooked position as a leading provider of custom AI computing and switching silicon,â Bank of America wrote in a recent assessment of the stock, aligning with the Street consensus.

The company's $61B purchase of VMware was recently extended to August 26. 


Consensus EPS Estimates: $10.12
Consensus Revenue Estimates: $8.70B
Earnings Insight: Broadcom has beaten EPS and revenue estimates in 8 consecutive quarters


Dollar General (DG)

Dollar General (DG) is due to report its first quarter results in premarket hours on Thursday. Shares of the discount retailer have fallen over 17% since the start of 2023, accelerating declines after an inauspicious report from Dollar Tree (DLTR) in the week prior. Despite the downbeat performance, the sell-side consensus remains a Buy with both Guggenheim and Argus moving to bullish stances ahead of the print.

"With shares down 17% from their 52-week high and tight monetary policy hurting retailers that sell big ticket items, this leading dollar store, which has grown its dividend at a compound annual rate of 15% over the last 5 years, looks relatively attractive over the next 12 months,â Argus wrote in April.

The company has worked to shore up its supply chain and reshuffled its C-Suite in the months leading up to the earnings result.


Consensus EPS Estimates: $2.39
Consensus Revenue Estimates; $9.46B 
Earnings Insight: Dollar General has topped EPS and revenue estimates in 6 of the past 8 quarters


Also reporting: lululemon athletica (LULU), Zscaler (ZS), Hormel Foods (HRL), Macyâs (M), PagerDuty (PD), and ChargePoint Holdings (CHPT)

Friday, June 2


Italian furniture company Natuzzi (NTZ) is one of the very few companies to confirm an earnings report on what looks to be a quiet Friday.