PepsiCo, Inc. (NYSE:PEP), Reynolds American, Inc. (NYSE:RAI), Seagate Technology PLC (NASDAQ:STX), Two Harbors Investment Corp (NYSE:TWO), and Spirit Airlines Incorporated (NASDAQ:SAVE) are each scheduled to report its financial performance for the second quarter on Wednesday July 24, 2013.

Earnings

Earnings Preview

PepsiCo, Inc. (PEP)

Wall Street analysts expect PepsiCo, Inc. (NYSE:PEP) to report $1.19 earnings per share for the second quarter, up from $1.12 earnings per share during the same period a year ago. Last quarter, the beverage company posted $0.77 earnings per share. For the full fiscal year, analysts estimate the beverage company will be able to deliver $4.40 earnings per share.

In terms of revenue, PepsiCo, Inc. (NYSE:PEP) is estimated to report an average revenue of $16.79 billion, up from $16.46 billion revenue in the same quarter a year earlier. During the previous quarter, the beverage company posted $12.58 billion revenue.  For the full fiscal year, PepsiCo is expected to report $67.52 billion.

Reynolds American (RAI)

Reynolds American, Inc. (NYSE:RAI) is projected by Zacks Equity Research to outperform the consensus estimate of Wall Street analysts. During the previous quarter, the company posted a 4.3 percent positive earnings surprise. The research firms believed that the company would likely deliver a positive earnings this quarter due to product innovations and cost reductions initiatives.

The consensus earnings estimate of analysts for Reynolds American, Inc. (NYSE:RAI) for the second quarter is $0.83 per share, up from $0.79 earnings per share in the same period a year ago. Its revenue is projected to be around $2.19 billion revenue, higher than its $2.18 billion revenue last year. For the full fiscal year, the company is expected to deliver $3.22 EPS and $8.27 billion revenue.

Seagate Technology PLC (STX)

Analysts expect Seagate Technology PLC (NASDAQ:STX) to post lower financial results for the second quarter compared with its performance in the same period last year. The company is projected to report $1.19 earnings per share, down from $2.41 earnings per share in the same period a year earlier. For the full fiscal 2013, the company is expected to generate $5.29 earnings per share.

Seagate Technology PLC (NASDAQ:STX) is expected to post $3.42 billion revenue for the second quarter, more than 23 percent lower than its $4.48 billion revenue in the same quarter last year. For the full fiscal year, analysts estimated that the company will achieve $14.35 billion revenue.

Two Harbors Investment (TWO)

Two Harbors Investment Corp (NYSE:TWO) is expected by analysts to post $0.31 earnings per share for the second quarter, lower than its $0.35 earnings per share in the same period a year ago. During the previous quarter, the company reported an earnings of $0.29 per share.

In terms of revenue, Two Harbors Investment Corp (NYSE:TWO) is expected to achieve $134 million revenue, higher than its $90.4 million revenue in the same period last year. During the first quarter, the company posted $111 million revenue.

For the full fiscal year, analysts projected that the company will deliver an EPS of $1.25 per share and $531 million revenue.

Spirit Airlines Incorporated (SAVE)

Meanwhile, analysts projected that Spirit Airlines Incorporated (NASDAQ:SAVE) will report $0.61 earnings per share and $408 million revenue. During the previous quarter, the company posted $0.45 earnings per share and $370.4 million revenue.

For the full fiscal 2013, Spirit Airlines Incorporated (NASDAQ:SAVE) is projected to deliver $2.13 earnings per share and $1.6 billion revenue compared with its $1.43 EPS and $1.3 billion revenue in 2012.