Earnings week ahead: NKE, TLRY, SPCE, BYND, NNDM, CAG, and more

[Nest of Eggs]
LindaJoHeilman

As the calendar turns from March to April, a holiday-shortened week still delivers a diverse set of earnings with the potential to offer fresh directional cues.

Consumer and brand momentum will be in focus with NIKE, Inc. (NKE [https://seekingalpha.com/symbol/NKE]), while food and staples names like Conagra Brands (CAG [https://seekingalpha.com/symbol/CAG]) and McCormick & Company (MKC [https://seekingalpha.com/symbol/MKC]) may shed light on pricing power and demand resilience.

In the high-growth and speculative space, updates from Virgin Galactic Holdings, Inc. (SPCE [https://seekingalpha.com/symbol/SPCE]), Beyond Meat (BYND [https://seekingalpha.com/symbol/BYND]), and Tilray Brands (TLRY [https://seekingalpha.com/symbol/TLRY]) will be closely watched for signs of recovery and capital discipline.

Energy and industrial signals will come from Constellation Energy Corporation (CEG [https://seekingalpha.com/symbol/CEG]), while tech and digital manufacturing names like Nano Dimension (NNDM [https://seekingalpha.com/symbol/NNDM]).

Crypto-linked plays, including Bitfarms (BITF [https://seekingalpha.com/symbol/BITF]) and Bit Digital (BTBT [https://seekingalpha.com/symbol/BTBT]), could reflect sentiment shifts in digital assets.

Below is a rundown of major quarterly updates anticipated in the week of March 30 to April 3:

MONDAY, MARCH 30

VIRGIN GALACTIC HOLDINGS (SPCE [https://seekingalpha.com/symbol/SPCE])

Virgin Galactic Holdings (SPCE [https://seekingalpha.com/symbol/SPCE]) is set to report FQ4 results after Monday’s close, with sentiment remaining cautious.

The stock has shown weakening momentum and profitability relative to industrial peers, earning a Sell rating [https://seekingalpha.com/symbol/SPCE/ratings/quant-ratings#source=firstLevelUrl%3Asymbol%7CbiSectionAsset%3ARatingSummary%7CbiName%3AQuant_rating] from Seeking Alpha’s Quant system, while Wall Street analysts maintain a Hold.

A 3-month decline of ~28% sharply underperforms the sector median gain of ~17%, highlighting elevated downside risk.

On the capital structure front, the company in December agreed [https://seekingalpha.com/news/4529608-virgin-galactic-to-reduce-debt-by-152m] to repurchase and retire about $355M of its 2027 convertible notes, reducing total debt by roughly $152M and extending most remaining maturities to 2028, better aligning with its commercial spaceline plans.

At the same time, SPCE is raising additional capital through a ~$46M equity offering and a $203M private placement of 9.80% first-lien notes due 2028, along with warrants.

* Consensus EPS Estimates: -$1.07
* Consensus Revenue Estimates: $412.50K
* Earnings Insight: The company has beaten EPS estimates in 100% of the past 8 quarters and revenue expectations in 5 of those reports.

ALSO REPORTING: Sangamo Therapeutics (SGMO [https://seekingalpha.com/symbol/SGMO]), Anadarko Petroleum (APC [https://seekingalpha.com/symbol/APC]), CBAK Energy Technology (CBAT [https://seekingalpha.com/symbol/CBAT]), INmune Bio (INMB [https://seekingalpha.com/symbol/INMB]), PDS Biotechnology (PDSB [https://seekingalpha.com/symbol/PDSB]), Progress Software (PRGS [https://seekingalpha.com/symbol/PRGS]), and more.

TUESDAY, MARCH 31

NIKE (NKE [https://seekingalpha.com/symbol/NKE])

NIKE (NKE [https://seekingalpha.com/symbol/NKE]) is set to report FQ3 results after Tuesday’s close, with analysts expecting a sharp ~48% Y/Y decline in profits amid macro headwinds and slowing demand.

Nike recently flagged a ~$300M pretax charge tied to employee severance, adding to near-term pressure.

Seeking Alpha’s Quant system upgraded [https://seekingalpha.com/symbol/NKE/ratings/quant-ratings] the stock from Hold to Buy, aligning with Wall Street analysts' Buy rating.

SA contributor views are mixed:

Sandeep Gupta maintains a Strong Buy [https://seekingalpha.com/article/4886236-nike-at-5-year-lows-why-the-turnaround-working] with an $85 price target, implying ~33% upside and a 2.6% yield, citing early success of the “Win Now” turnaround. He highlights a 43% Q2 EPS beat, 8% wholesale growth, and 20%+ gains in the running category, alongside strong liquidity (~$8.35B), insider/institutional buying, and renewed partnerships supporting a multi-year recovery. While margin pressure from tariffs (~$1.5B annually) and inventory actions persists, he views these as temporary with recovery ahead.

On the other hand, Caffital Research takes a more cautious stance [https://seekingalpha.com/article/4873322-nike-tariff-ruling-isnt-enough-to-change-my-stance], flagging valuation concerns and estimating ~20% downside despite potential relief from lower tariffs, noting continued policy uncertainty.

Similarly, Daniel Jones has downgraded [https://seekingalpha.com/article/4875445-nikes-profit-issues-push-it-back-a-step-downgrade] the stock to Hold, citing declining profitability, elevated multiples, and ongoing weakness in China. While management is shifting toward wholesale channels and cost controls, bearish views suggest the turnaround remains uncertain, warranting a more neutral stance for now.

* Consensus EPS Estimates: $0.28
* Consensus Revenue Estimates: $11.23B
* Earnings Insight: The company has beaten EPS estimates consecutively in all 8 quarters and revenue expectations in 6 of those reports.

ALSO REPORTING: Beyond Meat (BYND [https://seekingalpha.com/symbol/BYND]), Workhorse Group (WKHS [https://seekingalpha.com/symbol/WKHS]), Nano Dimension (NNDM [https://seekingalpha.com/symbol/NNDM]), McCormick & Company (MKC [https://seekingalpha.com/symbol/MKC]), RH (RH [https://seekingalpha.com/symbol/RH]), Omeros (OMER [https://seekingalpha.com/symbol/OMER]), Co-Diagnostics (CODX [https://seekingalpha.com/symbol/CODX]), Bit Digital (BTBT [https://seekingalpha.com/symbol/BTBT]), nCino (NCNO [https://seekingalpha.com/symbol/NCNO]), Dave & Buster's Entertainment (PLAY [https://seekingalpha.com/symbol/PLAY]), and more.

WEDNESDAY, APRIL 1

TILRAY (TLRY [https://seekingalpha.com/symbol/TLRY])

Tilray Brands (TLRY [https://seekingalpha.com/symbol/TLRY]) is set to report FQ3 results before Wednesday’s open, with analysts expecting a sharp ~98% Y/Y improvement in losses alongside ~8% revenue growth.

The company has been actively expanding its beverage footprint, recently agreeing [https://seekingalpha.com/news/4564723-tilray-brands-acquires-brewdogs-us-assets] to acquire key BrewDog assets in the U.S., including breweries, pubs, and hotels, while also completing the acquisition of BrewDog’s Australian operations, strengthening its craft beer platform globally.

Despite a ~27% YTD decline, sentiment has shown signs of improvement. Wall Street maintains a Buy rating, and Seeking Alpha’s Quant system has recently upgraded the stock to Hold [https://seekingalpha.com/symbol/TLRY/ratings/quant-ratings#source=firstLevelUrl%3Asymbol%7CbiSectionAsset%3ARatingSummary%7CbiName%3AQuant_rating] from Strong Sell.

SA contributor Bill Maurer also upgraded [https://seekingalpha.com/article/4882996-tilray-stock-big-bet-on-beverages-upgrade-hold] the stock to Hold, noting that while recent results showed revenue growth and narrowing losses, gross margins declined to 26% due to mix pressures. The BrewDog deal is expected to add ~$200M in annual revenue and $6–8M in adjusted EBITDA, supporting scale in the beverage segment.

With strategic expansion underway but profitability still under pressure, this earnings report will be key in assessing whether execution can begin to shift investor sentiment more meaningfully.

* Consensus EPS Estimates: -$0.14
* Consensus Revenue Estimates: $201.30M
* Earnings Insight: Tilray has exceeded revenue expectations in just 3 quarters and EPS in 2 of the past 8 quarters.

ALSO REPORTING: Conagra Brands (CAG [https://seekingalpha.com/symbol/CAG]), NovaGold Resources (NG [https://seekingalpha.com/symbol/NG]), Lamb Weston Holdings (LW [https://seekingalpha.com/symbol/LW]), MSC Industrial Direct (MSM [https://seekingalpha.com/symbol/MSM]), Cal-Maine Foods (CALM [https://seekingalpha.com/symbol/CALM]), and more.

THURSDAY, APRIL 2

ACUITY BRANDS (AYI [https://seekingalpha.com/symbol/AYI])

Acuity Brands (AYI [https://seekingalpha.com/symbol/AYI]) is set to report FQ2 results before Thursday’s open, with analysts expecting over 8% Y/Y growth in both revenue and profits.

Despite solid expectations, sentiment remains mixed. Seeking Alpha’s Quant system rates the stock a Sell [https://seekingalpha.com/symbol/AYI/ratings/quant-ratings#source=firstLevelUrl%3Asymbol%7CbiSectionAsset%3ARatingSummary%7CbiName%3AQuant_rating], citing valuation concerns and negative EPS revisions, while sell-side analysts maintain a Buy.

SA contributor Dividend Yield Theorist takes a more balanced view with a Hold [https://seekingalpha.com/article/4886040-acuity-bring-on-the-q2-earnings-call], noting the stock is trading near fair value with ~8% forward return potential. The company delivered a strong Q1, with non-GAAP EPS of $4.69 and revenue up 20% Y/Y, but market reaction remained muted. Investors are closely watching integration risks tied to the QSC acquisition and potential softness in the Independent Sales Network. With guidance uncertainty still in play, this earnings report will be key in determining whether fundamentals can outweigh valuation concerns.

* Consensus EPS Estimates: $4.06
* Consensus Revenue Estimates: $1.09B
* Earnings Insight: The company has beaten EPS estimates in 100% of the past 8 quarters and revenue expectations in 2 of those reports.

ALSO REPORTING: Precipio (PRPO [https://seekingalpha.com/symbol/PRPO]), Lindsay Manufacturing (LNN [https://seekingalpha.com/symbol/LNN]), AngioDynamics (ANGO [https://seekingalpha.com/symbol/ANGO]), Cheche Group (CCG [https://seekingalpha.com/symbol/CCG]), and more.

FRIDAY, APRIL 3

Good Friday, the U.S. markets will be closed.

MORE ON RELATED STOCKS:

* Nike At 5-Year Lows: Why The Turnaround Is Already Working [https://seekingalpha.com/article/4886236-nike-at-5-year-lows-why-the-turnaround-working]
* Constellation Energy: Nuclear And Electric Demand Strength Is Going Nowhere [https://seekingalpha.com/article/4885993-constellation-energy-nuclear-and-electric-demand-strength-is-going-nowhere]
* McCormick Q1 Earnings Preview: A Cool Valuation For This Spice Leader [https://seekingalpha.com/article/4885712-mccormick-q1-earnings-preview-a-cool-valuation-for-this-spice-leader]
* Constellation exec says PJM told company Three Mile Island plant can't hit grid until 2031 - Reuters [https://seekingalpha.com/news/4569568-constellation-exec-says-pjm-told-company-three-mile-island-plant-cant-hit-grid-until-2031---reuters]
* SA analyst upgrades/downgrades: MU, CHWY, CEG, CNXC [https://seekingalpha.com/news/4569471-sa-analyst-upgrades-downgrades-mu-chwy-ceg-cnxc]