Uber, Kraft Heinz earnings — What to know in markets Thursday

Heidi Chung

Two big earnings reports are scheduled for Thursday: Ride-sharing giant Uber (UBER) and consumer brand Kraft Heinz (KHC).

Ahead of the opening bell, embattled food and beverage giant Kraft Heinz will finally release first-quarter results after a delay caused by an SEC investigation. This will be the first time that investors and analysts will be addressed by CEO Miguel Patricio, who took the helm at the end of April.

“Most investors view 1H19 results as a baseline reference, and are more keen to learn how Kraft's new CEO plans to reverse market share losses, evolve KHC's portfolio, and allocate capital,” UBS wrote in a note to clients Monday. “Specific to Q1 and Q2, the stock setup is at best opaque—given that Kraft recently recast its historical financials and has not engaged investors for six months.”

Investors will be focused on what management says about a plan to return to growth. Analysts polled by Bloomberg expect Kraft Heinz to report adjusted earnings of 61 cents per share on $6.06 billion in revenue.

Meanwhile, Uber’s report comes on the heels of Lyft’s (LYFTbetter-than-expected report Wednesday evening. Lyft beat expectations on almost all metrics, but revealed in a regulatory filing that it would be ending its lock-up period at the market open on August 19.

“The lock-up period is scheduled to end on September 24, 2019, which falls within the Company’s quarterly blackout period that commences at the end of the day on August 31, 2019,” the company said in the filing. “Therefore, in accordance with the lock-up agreements with the underwriters, the lock-up period will end at the open of trading on August 19, 2019, which is ten trading days prior to the commencement of the Company’s quarterly blackout period. The Company will also release the market standoff agreements when the lock-up period expires.”

Uber will face its moment of truth as it gears up to report financial results after market close Thursday. Despite recent price increases, analysts are projecting Uber to report modest deceleration in revenue for the second quarter. The number of riders is also expected to decrease a bit, but growth is anticipated for Uber Eats.

Uber is expected to report adjusted loss of 79 cents per share on revenue of $3.05 billion in revenue.

Other notable reports scheduled for Thursday include AMC Entertainment (AMC), Cronos Group (CRON), Fiverr (FVRR), Norweigan Cruise Line (NCLH), Viacom (VIAB) before market open; Activision Blizzard (ATVI), CBS (CBS), Revolve Group (RVLV), Yelp (YELP) after market close

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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