Qorvo (QRVO - Free Report) is set to release second-quarter fiscal 2022 results on Nov 3.
For the quarter, the company expects revenues between $1.235 billion and $1.265 billion. Non-GAAP earnings are projected to be $3.24 per share (at the mid-point of the revenue guidance).
For the second quarter, the Zacks Consensus Estimate for earnings is pegged at $3.25 per share, unchanged over the past 30 days and indicating growth of 33.7% from the figure reported in the year-ago quarter.
The consensus mark for revenues is pegged at $1.25 billion, which suggests an improvement of 18% from the year-ago quarter’s reported figure.
Qorvo’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, delivering an earnings surprise of 14.2%, on average.
Let’s see how things have shaped up for Qorvo prior to this announcement.
Factors to Consider
Qorvo’s fiscal second-quarter results are likely to reflect gains from increased demand for 4G and 5G mobile products utilized in flagship smartphones amid ongoing supply chain constraints.
Strong demand for Qorvo’s mid-high band and ultra-high band front-end modules, which have been powering 5G smartphone launches, is likely to have contributed to the company’s Mobile Products (“MP”) segment’s performance in the fiscal first quarter.
Qorvo expects MP revenues to be $985 million in the to-be-reported quarter.
Solid momentum in Bulk Acoustic Wave (“BAW”) filters, driven by extended shipments of low-band, mid-/high- and ultra-high-band modules, and BAW-based antenna-plexers that are witnessing accelerated adoption across leading smartphone OEMs, is expected to have driven top-line growth in fiscal second quarter.
Broad-based content gains across Wi-Fi 6 solutions, which are being implemented in leading tablets, smartphones, gateways, smart speakers, mesh networks and virtual reality headsets, are expected to have contributed to the fiscal first-quarter performance.
Momentum in the deployment of Wi-Fi 6 solutions and robust 5G infrastructure market demand on improving buildout of 5G networks, and gains from rise in 5G base station deployments, are likely to have acted as tailwinds.
Strong adoption of Qorvo’s Gallium nitride (GaN) amplifiers to support high-power applications and domestic airborne radars, and the deployment of Massive MIMO antennas are likely to have contributed to the Infrastructure and Defense segment’s revenue growth in the quarter under review.
Qorvo expects the IDP unit to contribute $265 million during the fiscal second quarter.
However, increased operating expenses due to higher labor and other development expenses associated with recent acquisitions and key growth programs are expected to have hurt earnings in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Qorvo has an Earnings ESP of 0.00% and carries a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Applied Materials (AMAT - Free Report) has an Earnings ESP of +0.52% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Synaptics (SYNA - Free Report) has an Earnings ESP of +0.38% and a Zacks Rank #2.
PerkinElmer has an Earnings ESP of +5.20% and a Zacks Rank #2.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Qorvo (QRVO - Free Report) is set to release second-quarter fiscal 2022 results on Nov 3.
For the quarter, the company expects revenues between $1.235 billion and $1.265 billion. Non-GAAP earnings are projected to be $3.24 per share (at the mid-point of the revenue guidance).
For the second quarter, the Zacks Consensus Estimate for earnings is pegged at $3.25 per share, unchanged over the past 30 days and indicating growth of 33.7% from the figure reported in the year-ago quarter.
The consensus mark for revenues is pegged at $1.25 billion, which suggests an improvement of 18% from the year-ago quarter’s reported figure.
Qorvo’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, delivering an earnings surprise of 14.2%, on average.
Let’s see how things have shaped up for Qorvo prior to this announcement.
Factors to Consider
Qorvo’s fiscal second-quarter results are likely to reflect gains from increased demand for 4G and 5G mobile products utilized in flagship smartphones amid ongoing supply chain constraints.
Strong demand for Qorvo’s mid-high band and ultra-high band front-end modules, which have been powering 5G smartphone launches, is likely to have contributed to the company’s Mobile Products (“MP”) segment’s performance in the fiscal first quarter.
Qorvo expects MP revenues to be $985 million in the to-be-reported quarter.
Solid momentum in Bulk Acoustic Wave (“BAW”) filters, driven by extended shipments of low-band, mid-/high- and ultra-high-band modules, and BAW-based antenna-plexers that are witnessing accelerated adoption across leading smartphone OEMs, is expected to have driven top-line growth in fiscal second quarter.
Broad-based content gains across Wi-Fi 6 solutions, which are being implemented in leading tablets, smartphones, gateways, smart speakers, mesh networks and virtual reality headsets, are expected to have contributed to the fiscal first-quarter performance.
Momentum in the deployment of Wi-Fi 6 solutions and robust 5G infrastructure market demand on improving buildout of 5G networks, and gains from rise in 5G base station deployments, are likely to have acted as tailwinds.
Strong adoption of Qorvo’s Gallium nitride (GaN) amplifiers to support high-power applications and domestic airborne radars, and the deployment of Massive MIMO antennas are likely to have contributed to the Infrastructure and Defense segment’s revenue growth in the quarter under review.
Qorvo expects the IDP unit to contribute $265 million during the fiscal second quarter.
However, increased operating expenses due to higher labor and other development expenses associated with recent acquisitions and key growth programs are expected to have hurt earnings in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Qorvo has an Earnings ESP of 0.00% and carries a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Applied Materials (AMAT - Free Report) has an Earnings ESP of +0.52% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Synaptics (SYNA - Free Report) has an Earnings ESP of +0.38% and a Zacks Rank #2.
PerkinElmer has an Earnings ESP of +5.20% and a Zacks Rank #2.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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