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

Heidi Chung
Reporter

Investors will be focusing on two big corporate earnings reports from Kraft Heinz (KHC) and Pinterest (PINS) Thursday.

Struggling consumer staples company Kraft Heinz is scheduled to release third-quarter financial results ahead of the opening bell. After delaying first-quarter results, Kraft Heinz reported first half results August 8. The company noted that first-half revenues dropped 4.8%, and operating income sank 55% from the same period last year.

Kraft Heinz CEO Miguel Patricio said in a statement, “the level of decline we experienced in the first half of this year is nothing we should find acceptable moving forward. We have significant work ahead of us to set our strategic priorities and change the trajectory of our business.”

Shares of Kraft Heinz shares fell and hit all-time lows on its results. The stock has tumbled 33% so far in 2019, while the broader market rose 23% in the same time period. For the third quarter, analysts are expecting the company to report adjusted earnings of 53 cents per share on nets sales of $6.12 billion. The options market is implying a 7.5% move in either direction following the results.

The Pinterest Inc.logo is seen outside the New York Stock Exchange (NYSE) during the company's IPO on April 18, 2019 in New York City. (Photo by Johannes EISELE / AFP) (Photo credit should read JOHANNES EISELE/AFP/Getty Images)

Meanwhile, after the closing bell, online scrapbooking company Pinterest will deliver its third-quarter earnings report.

Much like its recent IPO peers, Pinterest is not a yet a profitable company. Analysts polled by Bloomberg expect the company to report an adjusted earnings loss of 4 cents per share on $282.06 million in revenue.

“We are looking for 12MM Net New Monthly Active Users, in-line with the Street,” RBC predicted in a note to clients Monday. “We note that Street expectations for MAUs have risen by ~2MM since early October. Specifically, we estimate Pinterest will add 1MM users in the U.S. and 11MM users internationally.”

Investors will also likely be focused on overall user engagement, revenue growth commentary and updates on the international expansion plan.

Economic data set to be released Thursday include: Employment Cost Index, Q3 (0.7% expected, 0.6% in Q2); Personal Income, September (0.3% expected, 0.4% in August); Personal Spending, September (0.3% expected, 0.1% in August); Initial Jobless Claims, week ended October 26 (212,000 prior); Continuing Claims, week ended October 19 (1.682 million prior); MNI Chicago PMI, October (49.0 expected, 47.1 in September); Bloomberg Consumer Comfort, week ended October 27 (63.4 prior)

Other notable earnings reports scheduled for Thursday include: Sprint (S), Estée Lauder (EL), Bristol-Myers Squibb (BMY), Wayfair (W), Clorox (CLX), Allergan (AGN), Altria (MO) before market open

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

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