Leisure Stocks To Report Earnings On Jul 14: MYCC, SKIS
Zacks Investment Research | Jul 10, 2016 10:01PM ET
With second-quarter earnings about to gather pace, the overall scenario is far from rosy. Notably, for the quarter, total earnings are expected to be down 6.2% on 0.6% lower revenues. Moreover, challenges are expected to dent the performance in the current as well as upcoming quarter, with growth unlikely before late 2016.
Turning to the leisure stocks, we note that the first quarter was somewhat lackluster in the U.S. This was attributable to factors such as a strong dollar, challenges posed by new technology and a damaging international performance.
However, leisure companies usually see an uptick during the spring and summer seasons. Also, growth in the leisure sector is directly proportional to consumers’ disposable income.
Despite declining energy prices, consumers are increasing their spending only modestly, as an increase in jobs this year is yet to translate into significantly higher wages. Higher health care costs and still tightened credit availability also lowers consumer discretionary spending in the U.S.
Two leisure companies are set to report their quarterly numbers on Jul 14. Let’s take a look at what might be in store for them this quarter:
ClubCorp Holdings, Inc. (NYSE:MYCC) , a membership-based leisure company, is slated to release its second-quarter 2016 results before the market opens.
Last quarter, ClubCorp Holdings had posted a 30% negative earnings surprise. In fact, the company delivered negative earnings surprises in all of the past four quarters, with an average miss of 93.66%.
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