Earnings Calls
Week of March 30, 2026
Weekly Overview
Markets enter the final week of Q1 2026 under pressure, with the S&P 500 down roughly 8% from February highs amid persistent tariff uncertainty and slowing consumer spending data.
The Conference Board's March consumer confidence index fell to its lowest level in over two years, weighing heavily on consumer discretionary and staples names.
This week's reporters span consumer staples, athletic apparel, and IT distribution — offering a cross-section of demand signals across both retail and enterprise channels.
MKC
McCormick & Company, Incorporated- Stock down ~25% in one month after prior-quarter miss
- New U.S. price increases testing consumer elasticity
- Full-year EPS estimate at $3.09; guidance update expected
MKC
McCormick & Company, Incorporated- Stock down ~25% in one month after prior-quarter miss
- New U.S. price increases testing consumer elasticity
- Full-year EPS estimate at $3.09; guidance update expected
McCormick shares have dropped roughly 25% over the past month, reflecting a miss on its prior quarter and mounting concerns over input cost inflation and volume softness in its Consumer segment. The company announced a price increase across several core U.S. spice and seasoning lines effective Q1 2026, its first broad-based hike in over a year. Flavor Solutions segment demand from QSR customers has shown mixed signals as restaurant traffic trends softened in early 2026.
Volume trends in the Consumer segment will be critical — investors need to see whether the recent price increases are holding without accelerating unit declines. Updated full-year guidance and gross margin trajectory will determine whether the selloff has been overdone or is warranted.
NKE
NIKE, Inc.- Four consecutive EPS beats; stock still down ~17% in one month
- Turnaround plan focused on fewer SKUs and less discounting
- EPS estimate $1.53; China and inventory levels in focus
NKE
NIKE, Inc.- Four consecutive EPS beats; stock still down ~17% in one month
- Turnaround plan focused on fewer SKUs and less discounting
- EPS estimate $1.53; China and inventory levels in focus
Nike has been executing CEO Elliott Hill's turnaround plan centered on reducing marketplace promotions, cutting underperforming SKUs, and reinvesting in sport-specific innovation and key franchise resets. The company announced a restructuring in late 2025 targeting $2B+ in cumulative cost savings, with layoffs affecting roughly 2% of the global workforce. Greater China revenue growth decelerated in recent quarters amid uneven Chinese consumer recovery, while North America wholesale partners reported elevated Nike inventory in the channel.
North America direct-to-consumer revenue and gross margin progression will signal whether promotional cleanup is translating to healthier full-price selling. Commentary on Greater China demand trends and any tariff-related cost headwinds will be closely scrutinized.
SNX
TD SYNNEX Corporation- Three consecutive EPS beats; consensus estimate at $14.65
- AI infrastructure demand driving Advanced Solutions growth
- Stock flat over past month, outperforming broader market
SNX
TD SYNNEX Corporation- Three consecutive EPS beats; consensus estimate at $14.65
- AI infrastructure demand driving Advanced Solutions growth
- Stock flat over past month, outperforming broader market
TD SYNNEX has benefited from a broad acceleration in enterprise IT spending tied to AI infrastructure buildouts, with its Endpoint Solutions and Advanced Solutions segments both seeing improved demand through late 2025 and early 2026. The company expanded its partnership ecosystem with several hyperscaler and GPU-focused vendors to capture downstream AI hardware and services demand. Management raised its fiscal 2026 outlook at the prior earnings report, citing improving backlog and services attach rates.
AI-related product mix and Advanced Solutions segment growth rate will indicate whether enterprise AI spending is broadening beyond hyperscalers into mid-market. Updated fiscal-year guidance and free cash flow conversion will be key after three consecutive beats.