Earnings Previews: Airbnb, Fisker, Nikola, Salesforce, Cinemark, Cronos and DraftKings

The Nasdaq Composite index traded down Wednesday morning, hurt most by Apple, which traded down about 1.6%, with Constellation Pharmaceuticals the biggest loser with a 16.8% pullback. Boeing and Chevron were leading the Dow Jones industrials up, with the S&P 500 trading about flat.

In our earnings preview yesterday, we looked at 3D Systems and Nvidia, both of which were scheduled to report results after markets close Wednesday. However, 3D Systems announced early Wednesday morning that it would not announce earnings until after markets close on Monday, March 1. Four companies are reporting Thursday morning: Best Buy, Li Auto, Moderna and Plug Power.

Looking ahead to Thursday afternoon, here are previews of Airbnb, Fisker, Nikola and Salesforce.com. For Friday morning, we’ve previewed three more firms we expect to hear from: Cinemark, Cronos and DraftKings.

Airbnb

Airbnb Inc. (NASDAQ: ABNB) came public in early December and will report its first earnings as a publicly traded company after markets close on Thursday. The company does not appear to have fared as badly as many other travel-related firms during the pandemic. Yet, that’s not what will be driving the stock price after the company’s earnings report. A good report will include a bright outlook for the quarter and year ahead, but a poor report will have a dimmer outlook.

Since its IPO, Airbnb stock has added about 38%, and it traded up more than 6.5% late Wednesday morning at around $200. The stock’s post-IPO high is nearly $220, posted earlier in February, and the price is already nearly 25% higher than the consensus price target of around $164.

Analysts are looking for net losses per share of $9.16 for the quarter and $13.35 for the full year. Revenue for the quarter is estimated at $747.6 million, with an estimated $3.3 billion in full-year revenue. The full-year revenue is down by almost a third year over year.

Airbnb is expected to post a loss of $1.81 per share in 2021 and a loss of $0.14 per share in 2022.

Fisker

Electric vehicle (EV) maker Fisker Inc. (NYSE: FSR) came public in last October and expects to deliver its first car, dubbed the Ocean, by late next year. Wednesday morning, the company announced a joint development deal with Taiwan-based Foxconn that has sent shares up as much as 20% in morning trading.

Analysts are looking for the company to report a net loss per share of $0.05 on no revenue. The full-year net loss per share is pegged at $0.29. No revenue is expected for all of 2020.

Fisker is not expected to post any revenue in 2021 either, and the loss per share is forecast to rise to $0.37. The good news is that Foxconn is going to take on building the cars, which should keep Fisker’s costs (and losses) down.

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