Earnings for the week 18Mar24 - can MICRON turn things around?
Earnings Calendar (18 Mar 2024)
In the coming week, we have some earnings of interest that include Micron, FedEx and Factset.
Let us look at the recent performance of Micron.
For Micron, the EPS TTM is -6.28 (that implies making a loss) in the 12 months trailing.
The stock price has surged 64.58% from one year ago. The rating of the stock (from investing) is “NEUTRAL”.
From the annual income statement, we have the following observations:
Total revenue TTM has fallen to $16.18B compared to the recent peak of $30.75B (30 Aug 2022).
The operating income has fallen from $9.7B (30 Aug 2022) to -$6.63B (TTM).
The TTM operating income is expected to be worse.
The Free Cash flow was negative for the last 2 years. Though TTM has a worse Operating income, the Free Cash Flow is improving compared to $6.11B (30 Aug 2023).
For the coming earnings, the forecast is -0.2586 and $5.33B for its EPS and Revenue respectively.
From the forecast, the company is expecting another quarter of loss but at a lesser magnitude. Can Micron turn things around following the earnings?
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