Earnings week ahead: NVDA, HD, TGT, WMT, NIO, BIDU, ZIM, and more

Despite a relatively light earnings calendar, the upcoming week still features a broad mix of major players across retail, technology, semiconductors, healthcare, industrials, and global shipping.

Leading the week will be NVIDIA (NVDA [https://seekingalpha.com/symbol/NVDA]), whose results are expected to remain central to the broader AI trade, particularly around data center demand, hyperscaler spending, and semiconductor momentum.

Chinese technology names Baidu (BIDU [https://seekingalpha.com/symbol/BIDU]) and NIO (NIO [https://seekingalpha.com/symbol/NIO]) will also be closely watched for updates on AI commercialization, autonomous driving, and consumer demand trends in China.

On the consumer front, earnings from Walmart (WMT [https://seekingalpha.com/symbol/WMT]), The Home Depot (HD [https://seekingalpha.com/symbol/HD]), Target (TGT [https://seekingalpha.com/symbol/TGT]), Lowe's Companies (LOW [https://seekingalpha.com/symbol/LOW]), and The TJX Companies (TJX [https://seekingalpha.com/symbol/TJX]) are expected to provide insight into discretionary spending trends, housing-related demand, pricing behavior, and the resilience of the U.S. consumer.

Enterprise software and technology spending will come into focus through results from Zoom Communications (ZM [https://seekingalpha.com/symbol/ZM]), Intuit (INTU [https://seekingalpha.com/symbol/INTU]), and Workday (WDAY [https://seekingalpha.com/symbol/WDAY]), while Analog Devices (ADI [https://seekingalpha.com/symbol/ADI]) is expected to offer a read on industrial and automotive semiconductor demand trends.

Meanwhile, industrial and healthcare bellwethers Deere & Company (DE [https://seekingalpha.com/symbol/DE]) and Medtronic plc (MDT [https://seekingalpha.com/symbol/MDT]) could provide further perspective on manufacturing activity, agricultural demand, healthcare utilization, and medical technology spending. Investors will also monitor results from ZIM Integrated Shipping Services (ZIM [https://seekingalpha.com/symbol/ZIM]) for signals around global freight demand, shipping rates, and international trade activity.

The week also includes results from Take-Two Interactive Software (TTWO [https://seekingalpha.com/symbol/TTWO]), which may offer additional insight into gaming engagement trends and investor expectations surrounding major upcoming game releases.

With AI leadership, consumer resilience, enterprise spending, industrial activity, and global trade all under the spotlight, the week’s earnings could provide another important gauge of broader economic momentum and market direction.

Below is a rundown of major quarterly updates anticipated for the week of May 18 to May 22:

MONDAY, MAY 18

BAIDU (BIDU [https://seekingalpha.com/symbol/BIDU])

Baidu (BIDU [https://seekingalpha.com/symbol/BIDU]), China’s leading AI and search company, is set to report its Q1 2026 results before Monday’s market open, with investors closely watching whether its AI-driven transformation can continue offsetting weakness in its legacy online advertising business.

In the most recent quarter, Baidu reported revenue of roughly $4.68B, up 5% Y/Y, as strength in AI Cloud and Apollo Go helped balance softer search advertising trends. Earnings were a notable bright spot, with Q4 EPS of $1.52 beating consensus estimates of $1.12 by 36%, supported by cost optimization efforts and improving economics across generative AI services.

Baidu’s AI business continues to gain momentum. AI Cloud infrastructure revenue reached RMB 5.8B in Q4 2025, while subscription revenue tied to AI accelerator infrastructure surged 143% Y/Y. Full-year AI Cloud revenue rose 34% to RMB 30B, while AI Applications revenue exceeded RMB 10B. AI-powered core revenue surpassed RMB 11B in Q4, accounting for 43% of Baidu General Business revenue, a mix management expects to keep expanding. The company’s ERNIE ecosystem has also scaled rapidly, with ERNIE Assistant monthly active users reaching 202M following the launch of ERNIE 5.0 earlier this year.

Apollo Go, Baidu’s autonomous ride-hailing platform, remains a major focus for investors. The unit completed 3.4M fully driverless rides in Q4, with total rides growing more than 200% Y/Y and cumulative rides surpassing 20M as of February 2026. International expansion has accelerated through partnerships with Uber and Lyft in London, autonomous operations in Abu Dhabi, regulatory approvals in Dubai, and market entry into South Korea.

Baidu has also shifted its capital return strategy, announcing its first-ever dividend alongside a $5B share repurchase program, signaling confidence in long-term cash generation and potentially broadening the stock’s appeal to income-oriented investors.

Management continues to guide for strong AI Cloud growth in 2026, driven by enterprise AI adoption and Baidu’s full-stack AI ecosystem, while maintaining that AI-powered businesses are on track to become the majority of Baidu General Business revenue over time.

Wall Street analysts maintain a Moderate Buy consensus on the stock, while Seeking Alpha’s Quant Rating system remains more cautious with a Hold rating [https://seekingalpha.com/symbol/BIDU/ratings/quant-ratings], citing valuation and competitive risks.

Key concerns heading into earnings include ongoing U.S.-China trade tensions and rising competition from emerging Chinese large-language-model players such as DeepSeek.

* CONSENSUS EPS ESTIMATE: $1.68
* CONSENSUS REVENUE ESTIMATE: $4.65B
* EARNINGS INSIGHT: Baidu has beaten EPS estimates in 7 of the past 8 quarters and revenue expectations in 6 of those reports.

ALSO REPORTING: iQIYI (IQ [https://seekingalpha.com/symbol/IQ]), Niu Technologies (NIU [https://seekingalpha.com/symbol/NIU]), Compugen (CGEN [https://seekingalpha.com/symbol/CGEN]), Sohu.com (SOHU [https://seekingalpha.com/symbol/SOHU]), Yalla Group Limited (YALA [https://seekingalpha.com/symbol/YALA]), and more.

TUESDAY, MAY 19

THE HOME DEPOT (HD [https://seekingalpha.com/symbol/HD])

The Home Depot (HD [https://seekingalpha.com/symbol/HD]), the world’s largest home improvement retailer, is set to report fiscal Q1 2026 results before Tuesday’s market open, with investors looking for early signs that housing-related demand may finally be stabilizing.

In its previous quarter, Home Depot snapped a three-quarter streak of earnings misses, reporting adjusted EPS of $2.72 vs. expectations of $2.54, while revenue of $38.2B met consensus estimates. Despite the earnings beat, sales still declined roughly 4% Y/Y as elevated interest rates, weak housing turnover, and cautious consumer spending continued to pressure larger home improvement projects. CEO Ted Decker noted at the time that housing activity appeared to be “bouncing along what we hope would be a bottom,” a narrative investor will be closely monitoring in the upcoming results.

Management has already guided for a softer start to fiscal 2026, forecasting Q1 EPS to decline by a mid-single-digit percentage due largely to acquisition-related timing impacts from the SRS integration. For the full year, the company expects total sales growth of 2.5%–4.5%, comparable sales ranging from flat to up 2%, and adjusted EPS growth between flat and 4%. Gross margin is projected to face near-term pressure, particularly in the first half, reflecting the ongoing integration of SRS, the company’s contractor-focused acquisition.

The professional contractor segment remains Home Depot’s key long-term growth driver. Management expects SRS organic sales growth in the mid-single digits and plans to expand its footprint with approximately 15 new Home Depot stores and 40–50 additional SRS locations during fiscal 2026.

Tariffs and macro uncertainty remain major risks heading into earnings. CFO Richard McPhail recently noted that the company is assessing the potential impact of new import tariffs following recent Supreme Court developments, while persistent mortgage-rate pressure and cautious consumer sentiment continue to weigh on discretionary home improvement demand. Supply chain costs and inventory management will also remain in focus from a margin perspective.

At the same time, Home Depot continues to invest in technology and AI-driven capabilities aimed at improving the Pro customer experience. CEO Ted Decker recently highlighted that AI-powered project management tools are helping drive efficiency and engagement within the contractor ecosystem, an area increasingly viewed as a competitive differentiator.

Wall Street analysts maintain a Buy rating on the stock, while Seeking Alpha’s Quant Rating system remains more cautious with a Hold rating [https://seekingalpha.com/symbol/HD/ratings/quant-ratings], citing valuation and growth concerns.

* CONSENSUS EPS ESTIMATE: $3.41
* CONSENSUS REVENUE ESTIMATE: $41.51B
* EARNINGS INSIGHT: Home Depot has consistently outperformed revenue estimates in the past 6 of the 8 quarters and EPS forecasts in 50% of those reports.

ALSO REPORTING: Amer Sports (AS [https://seekingalpha.com/symbol/AS]), CAVA Group (CAVA [https://seekingalpha.com/symbol/CAVA]), Oxford Lane Capital (OXLC [https://seekingalpha.com/symbol/OXLC]), Bilibili (BILI [https://seekingalpha.com/symbol/BILI]), Eagle Point Credit (ECC [https://seekingalpha.com/symbol/ECC]), Keysight Technologies (KEYS [https://seekingalpha.com/symbol/KEYS]), Toll Brothers (TOL [https://seekingalpha.com/symbol/TOL]), Ceragon Networks (CRNT [https://seekingalpha.com/symbol/CRNT]), Canaan (CAN [https://seekingalpha.com/symbol/CAN]), 8x8 (EGHT [https://seekingalpha.com/symbol/EGHT]), KE Holdings (BEKE [https://seekingalpha.com/symbol/BEKE]), ZTO Express (ZTO [https://seekingalpha.com/symbol/ZTO]), Red Robin Gourmet Burgers (RRGB [https://seekingalpha.com/symbol/RRGB]), and more.

WEDNESDAY, MAY 20

NVIDIA CORPORATION (NVDA [https://seekingalpha.com/symbol/NVDA])

NVIDIA (NVDA [https://seekingalpha.com/symbol/NVDA]) is set to report fiscal Q1 2027 results after Wednesday’s market close in what is widely viewed as the most closely watched earnings release of the week and potentially the entire earnings season. Consensus estimates call for revenue of roughly $79B, above the company’s own $78B midpoint guidance, with investor focus expected to center less on the headline beat and more on Q2 guidance, Blackwell demand trends, and margin expansion.

NVIDIA’s Q4 FY2026 results were exceptionally strong, with revenue climbing to $68.1B, ahead of consensus by roughly $2.5B, while EPS of $1.62 also topped expectations. Data Center revenue surged 75% Y/Y to a record $62.3B, and management guided Q1 FY2027 revenue well above prior Wall Street estimates. Despite the strong print, shares fell more than 5% following the release, marking the third consecutive quarter of post-earnings weakness as expectations around AI infrastructure spending remain extraordinarily elevated.

The rollout of the Blackwell architecture remains the single most important driver heading into earnings. Blackwell-based NVLink and Ethernet AI solutions fueled a 64% sequential increase in networking revenue during Q1 FY2026, while hyperscale cloud providers accounted for nearly half of Data Center revenue. CEO Jensen Huang recently stated at GTC 2026 that NVIDIA could generate as much as $1T in cumulative revenue from the Blackwell and upcoming Vera Rubin platforms across calendar years 2026 and 2027, highlighting the scale of expected AI infrastructure demand. Investors will also be looking for any incremental commentary around the Rubin architecture, which is expected to ramp up in the second half of calendar year 2026.

Margins remain another critical focus area. NVIDIA guided for a non-GAAP gross margin of 75% plus or minus 50 basis points for Q1 FY2027, signaling continued recovery from FY2026 levels that were pressured by H20-related China inventory charges. A stronger-than-expected Blackwell mix or improved yields could push margins toward the upper end of guidance and potentially help reverse the stock’s recent post-earnings selloff pattern.

China continues to represent the largest overhang. NVIDIA’s guidance excludes Data Center revenue contributions from China amid ongoing export restrictions and geopolitical tensions tied to AI chips. The company has also remained at the center of U.S.-China AI policy discussions following reports that DeepSeek may have used Blackwell processors in ways that could conflict with export-control rules.

Institutional expectations remain aggressive. Citi recently raised GPU shipment estimates to 11.2M units for FY2027, implying 58% Y/Y growth, while projecting annual revenue of roughly $284B. Goldman Sachs has forecast Q1 revenue of approximately $80B, above broader consensus estimates, reflecting continued optimism around Blackwell demand and AI infrastructure spending.

Wall Street analysts broadly maintain a Strong Buy rating on NVIDIA, while Seeking Alpha’s Quant Rating system remains more cautious with a Hold rating [https://seekingalpha.com/symbol/NVDA/ratings/quant-ratings], primarily due to valuation concerns following the stock’s massive multi-year rally.

* CONSENSUS EPS ESTIMATE: $1.78
* CONSENSUS REVENUE ESTIMATE: $79.17B
* EARNINGS INSIGHT: NVIDIA has beaten both EPS and revenue estimates in every quarter for the past two years, consistently delivering results well above guidance.

ALSO REPORTING: Target (TGT [https://seekingalpha.com/symbol/TGT]), Lowe's Companies (LOW [https://seekingalpha.com/symbol/LOW]), Intuit (INTU [https://seekingalpha.com/symbol/INTU]), TJX Companies (TJX [https://seekingalpha.com/symbol/TJX]), Analog Devices (ADI [https://seekingalpha.com/symbol/ADI]), ZIM Integrated Shipping Services (ZIM [https://seekingalpha.com/symbol/ZIM]), VF (VFC [https://seekingalpha.com/symbol/VFC]), Star Bulk Carriers (SBLK [https://seekingalpha.com/symbol/SBLK]), Baozun (BZUN [https://seekingalpha.com/symbol/BZUN]), Hasbro (HAS [https://seekingalpha.com/symbol/HAS]), Perion Network (PERI [https://seekingalpha.com/symbol/PERI]), Urban Outfitters (URBN [https://seekingalpha.com/symbol/URBN]), and more.

THURSDAY, MAY 21

NIO (NIO [https://seekingalpha.com/symbol/NIO])

NIO (NIO [https://seekingalpha.com/symbol/NIO]), the Chinese premium smart EV maker, is scheduled to report Q1 2026 results before Thursday’s U.S. market open, with investors closely watching whether the company can sustain its strong delivery momentum and newly achieved profitability.

NIO delivered 83,465 vehicles during Q1 2026, up approximately 98% Y/Y and above the high end of its guidance range of 80,000–83,000 units. March deliveries alone surged 136% Y/Y to 35,486 vehicles, while cumulative deliveries surpassed 1.08M as of March 31. Growth was broad-based across all three brands - the flagship NIO lineup, family-focused ONVO, and compact FIREFLY platform, suggesting improving demand across multiple customer segments rather than dependence on a single vehicle cycle.

The quarter follows the strongest financial performance in the company’s history. In Q4 2025, NIO reported its first-ever quarterly profit, posting GAAP operating income of RMB 810M and net profit of RMB 300M, compared with a RMB 7.1B loss a year earlier. Revenue climbed nearly 76% Y/Y to RMB 34.7B, while vehicle gross margin improved to 18.1% and total gross margin reached 17.5%. The company also generated positive free cash flow for a second consecutive quarter and achieved positive operating cash flow for the full year 2025, materially improving investor confidence around the sustainability of its business model.

Management previously guided Q1 revenue to RMB 24.48B–25.17B, implying growth of roughly 90% Y/Y, while indicating that vehicle gross margin should remain broadly stable vs. Q4 levels. Investors will be particularly focused on whether NIO can maintain margins near 18% while scaling deliveries aggressively, as that would reinforce confidence in the company’s longer-term profitability targets. Management has also reiterated its goal of achieving full-year non-GAAP profitability in 2026.

On the technology side, NIO continues expanding its intelligent driving ecosystem. The latest version of the NIO WorldModel platform was rolled out earlier this year and has now been deployed across more than 460,000 Banyan-equipped vehicles, strengthening the company’s positioning within China’s increasingly competitive smart EV market. Management expects quarterly R&D spending to remain around RMB 2.0B–2.5B while keeping SG&A expenses controlled at roughly 10% of revenue, reflecting a stronger focus on operational discipline.

Despite the operational improvements, broader U.S.-China tensions and geopolitical risks continue to weigh on valuation sentiment for Chinese ADRs, remaining a key overhang for the stock heading into earnings.

Wall Street analysts maintain a Buy rating, while Seeking Alpha’s Quant system sits at Neutral [https://seekingalpha.com/symbol/NIO/ratings/quant-ratings#source=firstLevelUrl%3Asymbol%7CbiSectionAsset%3ARatingSummary%7CbiName%3AQuant_rating], reflecting ongoing concerns around profitability and valuation.

* CONSENSUS EPS ESTIMATE: -$0.12
* CONSENSUS REVENUE ESTIMATE: $3.69B
* EARNINGS INSIGHT: NIO has topped EPS and revenue estimates in just 2 of the past 8 quarters.

WALMART (WMT [https://seekingalpha.com/symbol/WMT])

Walmart (WMT [https://seekingalpha.com/symbol/WMT]), the world’s largest retailer, is set to report fiscal Q1 2027 results before Thursday’s market open in what is expected to be one of the most closely watched consumer bellwether earnings releases of the season. Investor focus is likely to center on tariff-related pressures, consumer spending resilience, and the sustainability of Walmart’s improving e-commerce profitability.

In its most recent quarter, Walmart reported adjusted EPS of $0.74, up 12.1% Y/Y, on revenue of $190.7B, which increased 5.6%. Global e-commerce sales surged 24% and accounted for 23% of total net sales, while U.S. comparable sales rose 4.6%, supported by higher transaction volumes and continued market share gains across income groups, particularly among higher-income consumers. Importantly, management confirmed that e-commerce achieved profitability both in the U.S. and globally during Q1 FY2026, a key milestone that has strengthened the long-term margin expansion narrative.

For Q1 FY2027, Walmart guided for constant-currency sales growth of 3.5%–4.5%, operating income growth of 4%–6%, and EPS in the range of $0.63–$0.65. The company also noted that current foreign exchange trends could provide an approximately 150-basis-point benefit to reported sales and around 200 basis points to operating income. Full-year guidance calls for EPS of $2.75–$2.85 alongside revenue growth of 3.5%–4.5%, while Wall Street expects FY2027 EPS of roughly $2.89.

Tariffs remain the biggest near-term overhang heading into earnings. CEO Doug McMillon recently acknowledged that Walmart cannot fully absorb the impact of rising import duties given the company’s already narrow retail margins. With roughly one-third of Walmart’s U.S. merchandise sourced internationally, including from China, Mexico, Canada, and Vietnam, additional tariff escalation could pressure margins and pricing flexibility. Management previously declined to issue specific Q2 operating income guidance due to uncertainty around the tariff environment.

At the same time, Walmart continues to expand higher-margin businesses beyond traditional retail. Walmart Connect advertising revenue in the U.S. grew 41% in the previous quarter, while membership fee revenue increased 15.1%, helping diversify profit streams and improve the company’s overall margin profile.

Wall Street analysts maintain a Strong Buy consensus on the stock, while Seeking Alpha’s Quant Rating system remains more cautious with a Hold rating [https://seekingalpha.com/symbol/WMT/ratings/quant-ratings], primarily reflecting valuation concerns.

* CONSENSUS EPS ESTIMATE: $0.66
* CONSENSUS REVENUE ESTIMATE: $174.72B
* EARNINGS INSIGHT: Walmart has beaten EPS estimates in 7 of the past 8 quarters and missed revenue estimates twice in that span.

ALSO REPORTING: Zoom Communications (ZM [https://seekingalpha.com/symbol/ZM]), Deere & Company (DE [https://seekingalpha.com/symbol/DE]), Workday (WDAY [https://seekingalpha.com/symbol/WDAY]), Take-Two Interactive Software (TTWO [https://seekingalpha.com/symbol/TTWO]), Ross Stores (ROST [https://seekingalpha.com/symbol/ROST]), NetEase (NTES [https://seekingalpha.com/symbol/NTES]), Vipshop Holdings Limited (VIPS [https://seekingalpha.com/symbol/VIPS]), Advance Auto Parts (AAP [https://seekingalpha.com/symbol/AAP]), Copart (CPRT [https://seekingalpha.com/symbol/CPRT]), Ralph Lauren (RL [https://seekingalpha.com/symbol/RL]), Lightspeed Commerce (LSPD [https://seekingalpha.com/symbol/LSPD]), Flowers Foods (FLO [https://seekingalpha.com/symbol/FLO]), Deckers Brands (DECK [https://seekingalpha.com/symbol/DECK]), and more.

FRIDAY, MAY 22

The week wraps up on a lighter note, with only a handful of earnings scheduled for Friday's pre-market session. Notable names include Global Ship Lease (GSL [https://seekingalpha.com/symbol/GSL]), Booz Allen Hamilton (BAH [https://seekingalpha.com/symbol/BAH]), BJ's Wholesale Club (BJ [https://seekingalpha.com/symbol/BJ]), So-Young International (SY [https://seekingalpha.com/symbol/SY]), and more.

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