Earnings Preview: AYI, CAG, SCHN, LW, RPM

By Kirsteen Mackay

Apr 03, 2023

This week’s company earnings preview includes Acuity Brands (NYSE: AYI), Conagra Brands (NYSE: CAG), Schnitzer Steel Industries (NASDAQ: SCHN), Lamb Weston Holdings (NYSE: LW) and RPM International (NYSE: RPM).

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Earnings Preview: AYI, CAG, SCHN, LW, RPM

Acuity Brands (NYSE: AYI)

Acuity Brands Inc (NYSE: AYI) will release its fiscal 2023 second-quarter earnings results on Tuesday, April 4, 2023, at 6:00 a.m. (EST), with a conference call led by Neil Ashe, Chairman, President, and CEO, at 8:00 a.m. (EST). The webcast, earnings release, and supplemental presentation can be accessed through the Investor Relations section of the Company's website, with an online replay available for a limited time.

FactSet analyst estimates predict an EPS consensus of $2.73 and a sales consensus of $958.46m.

Over the past year, AYI stock has traded between $142.71 and $202.90. Today it trades at around $182.73. So far this year, the Acuity Brands stock price is up 8.62%, while the S&P 500 has risen 7.46% over the same period.

10 FactSet analysts have a consensus Overweight rating on AYI stock with a target share price of $194.14. 

AYI stock has a price-to-earnings ratio (P/E) of 16.7 and a market cap of $5.86bn. Its latest annual revenue reported was: $4bn.

Acuity Brands' Board of Directors has declared a quarterly dividend of 13 cents per share, payable on May 1, 2023, to shareholders of record on April 17, 2023.

About Acuity Brands

Acuity Brands is a market-leading industrial technology company focusing on spaces, light, and other areas through its Acuity Brands Lighting and Lighting Controls and Intelligent Spaces Group business segments. The Atlanta-based Company operates across North America, Europe, and Asia and employs over 13,000 associates.

Conagra Brands (NYSE: CAG)

Conagra Brands Inc (NYSE: CAG) will host a webcast and conference call to review its fiscal 2023 third-quarter results on April 5, 2023, at 9:30 a.m. ET, with a news release issued at around 7:30 a.m. ET.

FactSet analyst estimates provide a full-year EPS consensus of $0.64 and a sales consensus of $3.08bn for Conagra Brands.

Over the past year, CAG stock has traded between $31.02 and $41.30. Today it trades at around $37.56.

16 FactSet analysts have a consensus Overweight rating on CAG stock, with a target share price of $41.50.

CAG stock has a forward P/E of 13.5 (currently 26.5), and its P/BV is 2.1.

Conagra Brands Inc recently released its 2022 Citizenship Report, highlighting its environmental and social initiatives. The report focuses on four areas: Good Food, Responsible Sourcing, Better Planet, and Stronger Communities. Highlights include the addition of 350+ SKUs to states' Women, Infants, and Children-approved product lists, the avoidance of 35 million pounds of plastic through plant-based packaging alternatives, the conservation of 3.7 billion gallons of water and the reduction of carbon footprint by 215,000 metric tons, and donation of 20 million pounds of food to Feeding America.

About Conagra Brands

Headquartered in Chicago, Conagra Brands is North America's leading branded food company. Driven by an entrepreneurial spirit, the Company blends its rich heritage in food production with a keen focus on innovation to adapt to people's evolving food preferences. Conagra's portfolio comprises iconic brands such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, alongside emerging brands like Angie's® BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, providing a variety of options for every occasion.

Schnitzer Steel Industries (NASDAQ: SCHN)

Schnitzer Steel Industries Inc (NASDAQ: SCHN) will report its financial results for the second quarter of fiscal 2023 on April 5, 2023. A webcast conference call to discuss the results, hosted by Tamara Lundgren and Stefano Gaggini, will take place at 11:30 a.m. Eastern Time on the same day.

FactSet analyst estimates provide a full-year EPS consensus of $0.22 and a sales consensus of $722.55m for Schnitzer Steel Industries.

Over the past year, SCHN stock has traded between $25.96 and $59.70. Today it trades at around $31.10. Year-to-date, the SCHN share price is down -0.51% and down -40% over the past twelve months.

Two FactSet analysts have a consensus Overweight rating on SCHN stock, with a target share price of $39.

SCHN stock has a P/E of 8.9 and a P/BV of 0.9.

About Schnitzer Steel Industries

Schnitzer Steel is one of North America's largest manufacturers and exporters of recycled metal products, operating in 25 states, Puerto Rico, and Western Canada, with seven deep water export facilities and 50 stores selling used auto parts. The Company began operations in 1906 in Portland, Oregon.

Lamb Weston Holdings (NYSE: LW)

Lamb Weston Holdings Inc (NYSE: LW) will announce its fiscal third quarter 2023 financial results on April 6, 2023, at 8:30 a.m. EDT. A conference call will be held at 10:00 a.m. EDT the same day to discuss the results. Participants can dial 877-502-9276 (U.S. and Canada) or +1-313-209-4906 (international) with conference ID 7608560 or access the call live on the internet via event registration.

FactSet analyst estimates predict an EPS consensus of $0.99 and a sales consensus of $1.16bn.

Over the past year, LW stock has traded between $59.40 and $104.59. Today it trades at around $104.52. So far this year, the Lamb Weston stock price is up 19.8%.

7 FactSet analysts have a consensus Overweight rating on LW stock with a target share price of $108.50.

LW stock has a P/E of 32 and a market cap of $15bn. Its latest annual revenue reported was: $4bn.

The Company's board has declared a quarterly dividend of $0.28 per share, payable on June 2, 2023, to stockholders of record as of May 5, 2023. 

The Net Debt/EBITDA ratio for Lamb Weston Holdings in November 2022 decreased for the third consecutive time, which means the Company's financial position has improved relative to its earnings before interest, taxes, depreciation, and depreciation amortization (EBITDA). This decline exceeds the industry average, indicating that Lamb Weston has outperformed its competitors in reducing its net debt relative to EBITDA.

About Lamb Weston

Lamb Weston is a leading supplier of frozen potato, sweet potato, appetizer, and vegetable products worldwide.

Lamb Weston, a global leader in frozen potato, sweet potato, appetizer, and vegetable products, has been innovating for over 70 years to simplify back-of-house management and enhance customer experiences. Committed to continuous improvement and strong customer partnerships, Lamb Weston turns the potential of potatoes into delicious and inventive products. To learn more, visit lambweston.com.

RPM International Inc (NYSE: RPM)

RPM International Inc (NYSE: RPM) will release its fiscal 2023 third-quarter financial results before the stock market opens on April 6, 2023. Management will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss the results. The call will be open to the public, but only financial analysts can ask questions. A replay will be available from April 6 until April 13, 2023.

FactSet analysts predict a consensus EPS of $0.31 and sales of $1.47bn for the Company. According to 16 FactSet analysts, RPM stock has a consensus Overweight rating with a target share price of $97.93.

RPM stock is currently trading at around $87.24, with a 52-week range of $74.56 to $106.50. Year-to-date, RPM stock has declined by -10.8%. The Company has a market cap of $11.26bn, a P/E of 21.2, and a dividend yield of 1.9%. RPM International's latest annual revenue reported was $6.7bn.

About RPM International

RPM International owns subsidiaries specializing in specialty coatings, sealants, building materials, and related services. The Company operates across four segments: consumer, construction products, performance coatings, and specialty products. RPM's market-leading brands include Rust-Oleum, DAP, Zinsser, Varathane, DayGlo, Legend Brands, Stonhard, Carboline, Tremco, and Dryvit. The Company employs approximately 16,800 individuals worldwide.

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Important Notice And Disclaimer

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.