On Holding AG (ONON - Free Report) is scheduled to report second-quarter 2023 results on Aug 15, before the opening bell. In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 77.8%.
Q2 Estimates
The Zacks Consensus Estimate for the bottom line is pegged at 13 cents per share, indicating a decline of 13.3% year over year. The consensus mark for revenues is pegged at $466.8 million, suggesting a rise of 54.3% year over year.
Factors to Note
ONON is expected to have witnessed top-line growth in the second quarter on the back of higher sales across regions including North America, Europe, Asia-Pacific and Rest of World. Strong direct-to-consumer and wholesale sales are anticipated to have been the main growth drivers.
Additionally, On Holding’s solid product pipeline, success across multiple sales channels and return to regular product supply bode well. It continues to gain from improved operational environment and product availability compared with the prior year. Strong demand for the latter half of this year is being propelled by both current product offerings and the anticipation of exciting new product releases.
However, it's worth noting that increased costs of sales might have impacted the company's profit margin during the quarter.
What Our Model Indicates
Our proven model predicts an earnings beat for On Holding this time around. That is because a stock needs to have a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is exactly the case here.
Earnings ESP: Earnings ESP for On Holding is +11.60%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: On Holding currently sports a Zacks Rank #1.
Other Stocks Worth a Look
Investors can count on Urban Outfitters, Inc. (URBN - Free Report) , with an Earnings ESP of +2.27% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for second-quarter fiscal 2024 earnings per share has risen 3.5% to 88 cents in the past 30 days. This is suggesting a 37.5% jump from the year-ago period. URBN has a trailing four-quarter earnings surprise of 12.2%, on average.
You may consider Five Below, Inc. (FIVE - Free Report) , which has an Earnings ESP of +1.43% and a Zacks Rank #3.
Over the past 30 days, the Zacks Consensus Estimate for second-quarter fiscal 2023 earnings per share has been stable at 83 cents, calling for an improvement of 12.2% from the year-earlier quarter. FIVE, an extreme-value retailer for tweens, teens and beyond, has a trailing four-quarter earnings surprise of 27.9%, on average.
Costco Wholesale Corporation (COST - Free Report) also deserves a mention. The stock has an Earnings ESP of +1.08% and a Zacks Rank #3.
The Zacks Consensus Estimate for fourth-quarter fiscal 2023 earnings per share is currently pegged at $4.72. This implies a gain of 12.4% from the previous-year period. COST has a trailing four-quarter earnings surprise of 1.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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On Holding AG (ONON - Free Report) is scheduled to report second-quarter 2023 results on Aug 15, before the opening bell. In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 77.8%.
Q2 Estimates
The Zacks Consensus Estimate for the bottom line is pegged at 13 cents per share, indicating a decline of 13.3% year over year. The consensus mark for revenues is pegged at $466.8 million, suggesting a rise of 54.3% year over year.
Factors to Note
ONON is expected to have witnessed top-line growth in the second quarter on the back of higher sales across regions including North America, Europe, Asia-Pacific and Rest of World. Strong direct-to-consumer and wholesale sales are anticipated to have been the main growth drivers.
Additionally, On Holding’s solid product pipeline, success across multiple sales channels and return to regular product supply bode well. It continues to gain from improved operational environment and product availability compared with the prior year. Strong demand for the latter half of this year is being propelled by both current product offerings and the anticipation of exciting new product releases.
However, it's worth noting that increased costs of sales might have impacted the company's profit margin during the quarter.
What Our Model Indicates
Our proven model predicts an earnings beat for On Holding this time around. That is because a stock needs to have a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is exactly the case here.
Earnings ESP: Earnings ESP for On Holding is +11.60%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: On Holding currently sports a Zacks Rank #1.
Other Stocks Worth a Look
Investors can count on Urban Outfitters, Inc. (URBN - Free Report) , with an Earnings ESP of +2.27% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for second-quarter fiscal 2024 earnings per share has risen 3.5% to 88 cents in the past 30 days. This is suggesting a 37.5% jump from the year-ago period. URBN has a trailing four-quarter earnings surprise of 12.2%, on average.
You may consider Five Below, Inc. (FIVE - Free Report) , which has an Earnings ESP of +1.43% and a Zacks Rank #3.
Over the past 30 days, the Zacks Consensus Estimate for second-quarter fiscal 2023 earnings per share has been stable at 83 cents, calling for an improvement of 12.2% from the year-earlier quarter. FIVE, an extreme-value retailer for tweens, teens and beyond, has a trailing four-quarter earnings surprise of 27.9%, on average.
Costco Wholesale Corporation (COST - Free Report) also deserves a mention. The stock has an Earnings ESP of +1.08% and a Zacks Rank #3.
The Zacks Consensus Estimate for fourth-quarter fiscal 2023 earnings per share is currently pegged at $4.72. This implies a gain of 12.4% from the previous-year period. COST has a trailing four-quarter earnings surprise of 1.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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