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The company anticipates second-quarter fiscal 2024 revenues in the band of $717.2-$727.4 million. The Zacks Consensus Estimate is pegged at $725.6 million, indicating an improvement of 35.6% from the year-ago quarter's reported figure.
CrowdStrike expects non-GAAP earnings between 54 cents and 57 cents per share. The Zacks Consensus Estimate for non-GAAP earnings is pegged at 56 cents per share, suggesting an improvement of 55.6% year over year.
The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 19.2%.
Let’s see how things are shaping up for this announcement.
CrowdStrike’s second-quarter fiscal 2024 results are likely to reflect the benefits of the continued solid demand for its products, given the healthy environment of the global security market. The increasing number of people logging into employers' networks has triggered a greater need for security and might have spurred the demand for CRWD’s products in the fiscal second quarter. A strong pipeline of deals indicates the same.
Stellar revenue growth in subscriptions might have contributed significantly to the second-quarter top line. Further, the increasing number of net new subscription customers may have acted as a tailwind.
Our second-quarter estimate for Subscription revenues is pegged at $681.8 million, indicating a year-over-year improvement of 34.7%. We forecast that the company is likely to have ended the second quarter with total subscription customers of 26,300, suggesting a net new subscription customer addition of 1,638 during the quarter.
Moreover, CrowdStrike’s collaboration with Amazon Web Services (“AWS”) is an upside, benefiting the company from its products’ availability on the AWS platform. The expansion in the volume of transactions through Amazon’s AWS Marketplace, growth in co-selling opportunities with AWS salesforce and the uptake of AWS service integrations are likely to have contributed to CRWD’s earnings in the to-be-reported quarter.
However, elevated expenses for enhancing sales and marketing capabilities and increased investments in research and development are likely to have weighed on the company’s fiscal second-quarter bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for CrowdStrike this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
CRWD currently carries a Zacks Rank #2 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, Patterson Companies (PDCO - Free Report) , Dave & Buster’s Entertainment (PLAY - Free Report) and Casey's General Stores (CASY - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Patterson Companies carries a Zacks Rank #2 and has an Earnings ESP of +5.66%. The company is scheduled to report first-quarter fiscal 2024 results on Aug 30. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 4.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Patterson Companies’ first-quarter earnings stands at 40 cents per share, 25% higher than the year-ago quarter. It is estimated to report revenues of $1.57 billion, which suggests an increase of approximately 3.2% from the year-ago quarter.
Dave & Buster’s carries a Zacks Rank #3 and has an Earnings ESP of +0.99%. The company is slated to report second-quarter fiscal 2024 results on Sep 6. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 6.8%.
The Zacks Consensus Estimate for PLAY’s second-quarter earnings is pegged at 94 cents per share, indicating a year-over-year increase of 54.1%. The consensus mark for revenues stands at $558 million, suggesting a year-over-year increase of 19.2%.
Casey’s is anticipated to report first-quarter fiscal 2024 results on Sep 11. The company has a Zacks Rank #3 and an Earnings ESP of +1.03% at present. Casey’s earnings beat the Zacks Consensus Estimate twice in the trailing four quarters while missing on two occasions, the average surprise being 7.5%.
The Zacks Consensus Estimate for CASY’s first-quarter earnings is pegged at $3.39 per share, suggesting a decline of 17.1% from the year-ago quarter’s earnings of $4.09. Casey’s quarterly revenues are estimated to decrease 13.5% year over year to $3.85 billion.
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CrowdStrike (CRWD) to Report Q2 Earnings: What's in Store?
CrowdStrike Holdings (CRWD - Free Report) is scheduled to report second-quarter fiscal 2024 results on Aug 30.
The company anticipates second-quarter fiscal 2024 revenues in the band of $717.2-$727.4 million. The Zacks Consensus Estimate is pegged at $725.6 million, indicating an improvement of 35.6% from the year-ago quarter's reported figure.
CrowdStrike expects non-GAAP earnings between 54 cents and 57 cents per share. The Zacks Consensus Estimate for non-GAAP earnings is pegged at 56 cents per share, suggesting an improvement of 55.6% year over year.
The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 19.2%.
Let’s see how things are shaping up for this announcement.
CrowdStrike Price and EPS Surprise
CrowdStrike price-eps-surprise | CrowdStrike Quote
Factors at Play
CrowdStrike’s second-quarter fiscal 2024 results are likely to reflect the benefits of the continued solid demand for its products, given the healthy environment of the global security market. The increasing number of people logging into employers' networks has triggered a greater need for security and might have spurred the demand for CRWD’s products in the fiscal second quarter. A strong pipeline of deals indicates the same.
Stellar revenue growth in subscriptions might have contributed significantly to the second-quarter top line. Further, the increasing number of net new subscription customers may have acted as a tailwind.
Our second-quarter estimate for Subscription revenues is pegged at $681.8 million, indicating a year-over-year improvement of 34.7%. We forecast that the company is likely to have ended the second quarter with total subscription customers of 26,300, suggesting a net new subscription customer addition of 1,638 during the quarter.
Moreover, CrowdStrike’s collaboration with Amazon Web Services (“AWS”) is an upside, benefiting the company from its products’ availability on the AWS platform. The expansion in the volume of transactions through Amazon’s AWS Marketplace, growth in co-selling opportunities with AWS salesforce and the uptake of AWS service integrations are likely to have contributed to CRWD’s earnings in the to-be-reported quarter.
However, elevated expenses for enhancing sales and marketing capabilities and increased investments in research and development are likely to have weighed on the company’s fiscal second-quarter bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for CrowdStrike this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
CRWD currently carries a Zacks Rank #2 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, Patterson Companies (PDCO - Free Report) , Dave & Buster’s Entertainment (PLAY - Free Report) and Casey's General Stores (CASY - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Patterson Companies carries a Zacks Rank #2 and has an Earnings ESP of +5.66%. The company is scheduled to report first-quarter fiscal 2024 results on Aug 30. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 4.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Patterson Companies’ first-quarter earnings stands at 40 cents per share, 25% higher than the year-ago quarter. It is estimated to report revenues of $1.57 billion, which suggests an increase of approximately 3.2% from the year-ago quarter.
Dave & Buster’s carries a Zacks Rank #3 and has an Earnings ESP of +0.99%. The company is slated to report second-quarter fiscal 2024 results on Sep 6. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 6.8%.
The Zacks Consensus Estimate for PLAY’s second-quarter earnings is pegged at 94 cents per share, indicating a year-over-year increase of 54.1%. The consensus mark for revenues stands at $558 million, suggesting a year-over-year increase of 19.2%.
Casey’s is anticipated to report first-quarter fiscal 2024 results on Sep 11. The company has a Zacks Rank #3 and an Earnings ESP of +1.03% at present. Casey’s earnings beat the Zacks Consensus Estimate twice in the trailing four quarters while missing on two occasions, the average surprise being 7.5%.
The Zacks Consensus Estimate for CASY’s first-quarter earnings is pegged at $3.39 per share, suggesting a decline of 17.1% from the year-ago quarter’s earnings of $4.09. Casey’s quarterly revenues are estimated to decrease 13.5% year over year to $3.85 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.