Pre-Market Earnings Report for November 20, 2025 : WMT, NTES, J, VIPS, ROAD, MMS, BBWI, WMG, VNET, ATKR, ZIM, VALN

A slate of companies is set to report before the open on Nov. 20, 2025, with consensus EPS showing a mixed picture: Walmart is forecast at $0.61 (up 5.2% YoY) after a recent miss, while NetEase ($1.88, +30.6%), Vipshop ($0.35, +40.0%), Jacobs ($1.67, +21.9%), Construction Partners ($1.11, +91.4%) and Warner Music ($0.35, +337.5%) show sizable year‑over‑year gains; by contrast ZIM ($1.66) and VNET ($0.01) face steep YoY declines of ~82% and ~83% respectively, and Valneva is projected to report a loss (-$0.30) amid a 183.8% jump in days‑to‑cover short interest. Several names trade at materially higher P/Es than industry peers per Zacks (e.g., Walmart, Jacobs, ROAD), underscoring growth expectations that will be tested by these prints, while weak results at shipping and select internet firms could signal demand softness or execution risks across transport and digital ad/commerce exposure.

Analysis

A broad slate of companies is set to report before the open on 11/20/2025, with consensus EPS showing a mixed picture that will test growth expectations. Walmart is forecast at $0.61 (up 5.17% YoY) after missing consensus by -6.85% in the prior quarter and carries a 2026 P/E of 38.70 versus an industry 15.90, signaling elevated valuation risk if the print or guidance disappoints.

Several names display material year‑over‑year gains and consistent beats: NetEase is forecast at $1.88 (+30.56%) and has beaten every quarter in the past year, Jacobs Solutions is at $1.67 (+21.90%) with consecutive beats, and Construction Partners shows a $1.11 forecast (+91.38%) though it missed Q2 by -6.9%. Warner Music’s expected EPS of $0.35 represents a 337.5% YoY jump, while VIPS is +40.0%, indicating pockets of operational momentum across internet, services and building sectors.

Conversely, several issuers face sharp decelerations or investor stress: ZIM and VNET have consensus EPS declines of ~82% and ~83% respectively with ZIM’s Q2 miss of -87.33%, Atkore and Bath & Body Works show YoY EPS declines, and Valneva is forecast to report a -$0.30 loss with days‑to‑cover short interest up 183.77%, highlighting elevated short‑interest and execution risk. Overall sentiment is mixed and the market‑impact signal is modest (0.25), implying selective stock‑specific moves rather than a broad market reaction.

Key Decisions for Investors

• Take a cautious stance into Walmart’s print given the elevated 2026 P/E (38.70 vs 15.90) and its recent -6.85% EPS miss; avoid initiating large new long positions ahead of the release and consider trimming on a weak print
• Consider selectively adding or overweighting NetEase and Jacobs on confirmation of beats given NTES’s +30.56% forecast and consistent quarterly beats and J’s +21.90% forecast, while monitoring valuations (J P/E 24.92 vs industry 18.40)
• Reduce or hedge exposure to ZIM and VNET where consensus shows ~82% and ~83% EPS declines and prior large misses, and treat Valneva as high‑risk because of the projected loss (-$0.30) and a 183.77% rise in days‑to‑cover indicating short‑interest pressure
• For high‑growth but richly valued names such as Construction Partners (P/E 51.62 vs 18.40) and Warner Music, require clear confirmation of sustainable earnings improvement before increasing exposure and consider taking profits on strong pre‑print rallies