Corporate earnings season kicks off in earnest this week, led by the six major US banks. Goldman Sachs, Wells Fargo, JPMorgan Chase, Citigroup, Morgan Stanley, and Bank of America are scheduled to announce fourth-quarter results. UnitedHealth is also among nearly 20 names in the S&P 500 to report. Expectations for the reporting period are high, with analysts estimating earnings growth of nearly 12% year over year for the fourth quarter, according to FactSet data. If so, this would be the strongest annual earnings expansion since the fourth quarter of 2021. Take a look at CNBC Pro's analysis of what to expect from this week's key reports. All times are EST. JPMorgan Chase is scheduled to report its earnings on Wednesday before the market opens. Conference call with analysts scheduled for 8:30 a.m. Q4: JPM shares rose after the banking giant reported better-than-expected results. This quarter: Analysts surveyed by LSEG expect a 35% jump in profits compared to the same period last year. What Hugh Son, CNBC's chief banking correspondent, is watching: “JPMorgan Chase told investors that net interest income, capital markets and asset management revenue will have a strong quarter; and as long as CEO Jamie Dimon maintains expenses, the odds are good.” It will be higher EPS estimates.” What history shows: JPMorgan Chase tops earnings estimates 82% of the time, according to Bespoke Investment Group. However, the stock has fallen on three of the last four earnings days. Goldman Sachs is scheduled to announce Its pre-market earnings, followed by a 9:30 a.m. conference call last quarter: GS beat earnings expectations thanks to strong stock trading and investment banking revenue this quarter: The bank is expected to report year-over-year earnings growth of Nearly 50%, according to LSEG data What Heo Soon, CNBC's chief banking correspondent, is monitoring: “Expectations are high for Goldman Sachs as the Wall Street firm has tailwinds from higher investment banking and trading revenues this quarter, while markets are buoyant. That will help the asset and wealth management business.” What history shows: Goldman Sachs' earnings have topped analyst expectations for five straight quarters, Bespoke data shows. Wells Fargo reports earnings before the bell The company will then hold a conference call at 10 a.m. Q4: WFC reported third-quarter numbers that beat analysts' expectations. This quarter: Analysts surveyed by LSEG expected a muted report for the fourth quarter, according to LSEG. What to watch: Wells Fargo is coming off a strong year, up 43% in 2024. Can this momentum continue? What history shows: Wells Fargo's earnings beat analyst estimates for three straight quarters, according to Bespoke. However, shares fell after two of these releases. Citigroup is scheduled to report earnings before the bell. A conference call is scheduled for 11 a.m. ET. Q4: C earnings beat estimates, but stock falls as bank increases loan loss reserves. This quarter: LSEG estimates analysts expect a 45% increase in Citi's earnings year-over-year. What Hugh Soon, CNBC's chief banking correspondent, is watching: “Citigroup remains a turnaround story, so investors will want to see evidence that CEO Jane Fraser is hitting his targets on expenses and revenue growth, and they'll be particularly keen to hear her 2025 guidance. “. What history shows: Citigroup shares fell after the last three earnings releases, including a 5.1% decline on October 15. Morgan Stanley is scheduled to report its pre-market earnings on Thursday, with a call scheduled for 8: 30am Q4: Morgan Stanley's three major divisions generated more revenue than expected, boosting profits this quarter: Morgan Stanley's net profits are expected to nearly double year-over-year, according to LSEG data What to Watch: Company Evercore ISI is optimistic about Morgan Stanley's upcoming earnings report, noting on January 2: “Corporate client activity is gaining momentum and sponsor activity is 'steadily picking up.' What history shows: The bank's earnings beat expectations 79% of the time, according to Detailed. The stock gains 0.9% on earnings days. UnitedHealth is scheduled to report earnings before the stock market opens. Management will hold a conference call at 8:45 a.m. Last quarter: UN issued weaker-than-expected earnings forecast for 2025. This quarter: The insurance giant is expected to report year-over-year earnings growth of nearly 10%, according to LSEG. . What to watch: Questions about future changes in health care policy under a second Trump administration loom over UnitedHealth. But HSBC believes sentiment around the stock may be too pessimistic. “With uncertainty surrounding the policy decisions of the incoming Trump administration that will likely shake up the health insurance sector, we are trying to identify five key discussions that may be important for the investment case. Given the bearish sentiment and weak companies as we move through the year, analyst Siddharth Sahu noted in an upgrade To buy from waiting on Friday that “there are opportunities for UN to return to upgrade mode in the coming quarters What History Shows: UnitedHealth posted an average gain of 0.8% on earnings days, according to Bespoke. The company has only beaten expectations once, in April 2018. Bank of America scheduled to report earnings in pre-market call with management scheduled for 11 a.m. last quarter: BAC beat earnings estimates on strong trading revenue This quarter: Bank of America's profits are expected to more than double from the same period last year, LSEG data shows What to watch: Bank of America's stock performed well last year, but it still lags other big banks An advance of approximately 31%. Investors will be examining the company's latest results for signs that it can catch up with competitors. What history shows: Bank of America shares have risen after 11 of the last 13 earnings releases, according to Bespoke.
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The major banks kick off reporting season, along with the major health insurer
