The second-quarter earnings season kicks off for many financial companies starting Thursday, July 15. Most firms in the sector will report their latest results in July, though a few will share the second-quarter figures in early August.
First out of the gate is JPMorgan Chase (JPM) on July 15, when it is expected to report earnings before 9 a.m.
JPMorgan’s earnings are anticipated to be $0.70 in the second quarter of 2010 (vs. $0.28 a year ago) on $25.6 billion in revenue.
On Friday, July 16, Charles Schwab (SCHW), Bank of America-Merrill Lynch (BAC), and Citigroup (C) are reporting earnings early in the day.
Schwab’s earnings per share are expected to be $0.15 (vs. $0.18 a year ago) on $1.05 billion in revenue. In the first quarter, Schwab had earnings of $0.10 and $23 billion in net new assets.
Analysts expect BofA to report $0.22 per share vs. $0.33 in the same year-ago period. Revenue should be $29.75 billion compared with $32.77 billion in sales in the second quarter of 2009.
Citigroup is anticipated to report earnings of $0.05 vs. $0.49 in the same period last year; sales could be $22.16 billion, analysts say.
The next big reporting day for financial-services companies is Tuesday, July 20, when four companies in the sector reveal their latest results.
Bank of New York Mellon (BK) is expected to have per-share earnings of $0.54 vs. $0.51 last year.
TD Ameritrade’s (AMTD) estimated earnings are $0.28 on sales of $680.13 million vs. $0.30 last year.
And Morgan Stanley – now the biggest broker-dealer in terms of advisors with 18,100 – should report earnings of $0.46 vs. a loss of $1.10 last year. Sales are anticipated to come in at $8.05 billion vs. $5.41 last year.