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Pollution Control Stocks Earnings Preview: TTEK, HCCI, CWST
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We believe that economic uncertainties in some developed and emerging nations, soft commodity prices and forex woes played spoilsport for industries in the Industrial Products sector in the Apr-Jun 2016 quarter. However, the impact of such headwinds is subdued compared with the previous quarter.
According to the Zacks Industry classification, Pollution Control is broadly grouped under Industrial Products, one of the 16 broad Zacks sectors. Below we briefly discuss the broader sectors’ earnings trend so far in the Apr-Jun quarter.
As of Jul 22, roughly 23.8% of industrial products stocks in the S&P 500 Group reported results for the Apr-Jun quarter, recording a growth of 3% in earnings and 1.3% in revenue. Despite this initial improvement, the prevalent macro headwinds are likely to negatively impact results for Industrial Products sector. Earnings in the quarter are predicted to decline 8% while revenue will likely fall 5.8%.
What’s in Store for 3 Pollution Control Stocks-TTEK, HCCI, CWST?
Below we discuss briefly the expectations from the upcoming results (Apr-Jun quarter) for three Pollution Control stocks:
Tetra Tech, Inc. (TTEK - Free Report) : This pollution control company is slated to release its third-quarter fiscal 2016 (ended Jun 2016) results on Jul 27, after the market closes. In the four trailing quarters, the company reported in-line results in three while exceeded expectation in one with an average positive earnings surprise of 2.14%.
Our proven model does not conclusively show that Tetra Tech will be able to pull a surprise this quarter. This is because the company lacks the right combination of two key ingredients — a positive Earnings ESP (the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold). The company currently carries a Zacks Rank #4 (Sell) and a 0.00% Earnings ESP. Over the last 60 days, the Zacks Consensus Estimate for the stock remained stable at 50 cents per share for third-quarter fiscal 2016.
Heritage-Crystal Clean, Inc. : This pollution control stock is slated to release its second-quarter 2016 results on Jul 27, after the market closes. The company reported lower-than-expected results in one of the four trailing quarters, while posting in line results in one and exceeding expectation in another. Average earnings surprise was a negative 17.34%.
Our proven model does not conclusively show that Heritage-Crystal Clean will beat earnings this quarter because it currently carries a Zacks Rank #3 and a 0.00% Earnings ESP. The Zacks Consensus Estimate for the stock is currently pegged at 3 cents per share for second-quarter 2016.
Casella Waste Systems Inc. (CWST - Free Report) : This pollution control stock is gearing up to release its second-quarter 2016 results on Jul 28, after the market closes. The company reported better-than-expected results in two of the four trailing quarters while lagged estimate in one and recorded in-line results in another. Average earnings surprise was a negative 78.72%.
Our proven model conclusively shows that Casella Waste Systems will be able to pull a surprise this quarter because it currently carries a Zacks Rank #3 and an Earnings ESP of +20%. Over the last 60 days, the Zacks Consensus Estimate for the stock increased 25% to 5 cents per share for second-quarter 2016.
Stay tuned! Check back on our full write-up on earnings release of Tetra Tech, Inc.
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Pollution Control Stocks Earnings Preview: TTEK, HCCI, CWST
We believe that economic uncertainties in some developed and emerging nations, soft commodity prices and forex woes played spoilsport for industries in the Industrial Products sector in the Apr-Jun 2016 quarter. However, the impact of such headwinds is subdued compared with the previous quarter.
According to the Zacks Industry classification, Pollution Control is broadly grouped under Industrial Products, one of the 16 broad Zacks sectors. Below we briefly discuss the broader sectors’ earnings trend so far in the Apr-Jun quarter.
As of Jul 22, roughly 23.8% of industrial products stocks in the S&P 500 Group reported results for the Apr-Jun quarter, recording a growth of 3% in earnings and 1.3% in revenue. Despite this initial improvement, the prevalent macro headwinds are likely to negatively impact results for Industrial Products sector. Earnings in the quarter are predicted to decline 8% while revenue will likely fall 5.8%.
What’s in Store for 3 Pollution Control Stocks-TTEK, HCCI, CWST?
Below we discuss briefly the expectations from the upcoming results (Apr-Jun quarter) for three Pollution Control stocks:
Tetra Tech, Inc. (TTEK - Free Report) : This pollution control company is slated to release its third-quarter fiscal 2016 (ended Jun 2016) results on Jul 27, after the market closes. In the four trailing quarters, the company reported in-line results in three while exceeded expectation in one with an average positive earnings surprise of 2.14%.
TETRA TECH NEW Price and EPS Surprise
TETRA TECH NEW Price and EPS Surprise | TETRA TECH NEW Quote
Our proven model does not conclusively show that Tetra Tech will be able to pull a surprise this quarter. This is because the company lacks the right combination of two key ingredients — a positive Earnings ESP (the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold). The company currently carries a Zacks Rank #4 (Sell) and a 0.00% Earnings ESP. Over the last 60 days, the Zacks Consensus Estimate for the stock remained stable at 50 cents per share for third-quarter fiscal 2016.
Heritage-Crystal Clean, Inc. : This pollution control stock is slated to release its second-quarter 2016 results on Jul 27, after the market closes. The company reported lower-than-expected results in one of the four trailing quarters, while posting in line results in one and exceeding expectation in another. Average earnings surprise was a negative 17.34%.
HERITAGE-CRYSTL Price and EPS Surprise
HERITAGE-CRYSTL Price and EPS Surprise | HERITAGE-CRYSTL Quote
Our proven model does not conclusively show that Heritage-Crystal Clean will beat earnings this quarter because it currently carries a Zacks Rank #3 and a 0.00% Earnings ESP. The Zacks Consensus Estimate for the stock is currently pegged at 3 cents per share for second-quarter 2016.
Casella Waste Systems Inc. (CWST - Free Report) : This pollution control stock is gearing up to release its second-quarter 2016 results on Jul 28, after the market closes. The company reported better-than-expected results in two of the four trailing quarters while lagged estimate in one and recorded in-line results in another. Average earnings surprise was a negative 78.72%.
CASELLA WASTE Price and EPS Surprise
CASELLA WASTE Price and EPS Surprise | CASELLA WASTE Quote
Our proven model conclusively shows that Casella Waste Systems will be able to pull a surprise this quarter because it currently carries a Zacks Rank #3 and an Earnings ESP of +20%. Over the last 60 days, the Zacks Consensus Estimate for the stock increased 25% to 5 cents per share for second-quarter 2016.
Stay tuned! Check back on our full write-up on earnings release of Tetra Tech, Inc.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report