BigBear.ai (BBAI - Free Report) is set to report third-quarter 2023 results on Nov 7.
The Zacks Consensus Estimate for third-quarter 2023 revenues is pegged at $41.74 million, indicating a 2.69% increase from the year-ago quarter’s reported figure.
The consensus mark for loss has remained unchanged at 7 cents per share in the past 30 days. The company had reported a loss of 13 cents per share in the year-ago quarter.
BigBear’s earnings miss the Zacks Consensus Estimate in all the trailing four quarters, with an earnings surprise of -92.40%, on average.
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
BigBear.ai is likely to have benefited from growing government investment in AI solutions, expanding its innovation pipeline and adapting capabilities to serve a larger market in the artificial intelligence and technology-led solutions sector.
The company advances in its transformation towards higher-margin technology solutions, the shift in contract mixes away from legacy programs like EPASS is anticipated to enhance financial performance and sharpen its strategic focus, reinforcing its position for continued growth.
In the upcoming quarter, the company's anticipated extension of the GFIM contract, AIMMS awards and continued collaboration with L3Harris are expected to strengthen revenue streams and reaffirm BBAI’s leadership in the AI sector.
BBAI also expects an additional $11 million in government receivables for the upcoming quarter, which signifies a positive cash flow outlook. This will likely reinforce the company's strong financial position and potential for further expansion.
However, BigBear’s third-quarter 2023 top line is expected to have been affected by challenging macroeconomic conditions and the reversal of pandemic trends.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
BigBear has an Earnings ESP of 0.00% and a Zacks Rank #3. 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 couple of stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
NetEase (NTES - Free Report) has an Earnings ESP of +0.00% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
NetEase is set to announce third-quarter 2023 results on Nov 16. NTES shares have gained 49.2% year to date.
Upstart (UPST - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2.
Upstart is set to announce third-quarter 2023 results on Nov 7. UPST shares are up 86% year to date.
Clarivate (CLVT - Free Report) has an Earnings ESP of +5.56% and a Zacks Rank #3.
Clarivate is set to announce third-quarter 2023 results on Nov 7. CLVT shares declined 24.9% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names #1 Semiconductor Stock
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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BigBear.ai (BBAI - Free Report) is set to report third-quarter 2023 results on Nov 7.
The Zacks Consensus Estimate for third-quarter 2023 revenues is pegged at $41.74 million, indicating a 2.69% increase from the year-ago quarter’s reported figure.
The consensus mark for loss has remained unchanged at 7 cents per share in the past 30 days. The company had reported a loss of 13 cents per share in the year-ago quarter.
BigBear’s earnings miss the Zacks Consensus Estimate in all the trailing four quarters, with an earnings surprise of -92.40%, on average.
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
BigBear.ai is likely to have benefited from growing government investment in AI solutions, expanding its innovation pipeline and adapting capabilities to serve a larger market in the artificial intelligence and technology-led solutions sector.
The company advances in its transformation towards higher-margin technology solutions, the shift in contract mixes away from legacy programs like EPASS is anticipated to enhance financial performance and sharpen its strategic focus, reinforcing its position for continued growth.
In the upcoming quarter, the company's anticipated extension of the GFIM contract, AIMMS awards and continued collaboration with L3Harris are expected to strengthen revenue streams and reaffirm BBAI’s leadership in the AI sector.
BBAI also expects an additional $11 million in government receivables for the upcoming quarter, which signifies a positive cash flow outlook. This will likely reinforce the company's strong financial position and potential for further expansion.
However, BigBear’s third-quarter 2023 top line is expected to have been affected by challenging macroeconomic conditions and the reversal of pandemic trends.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
BigBear has an Earnings ESP of 0.00% and a Zacks Rank #3. 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 couple of stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
NetEase (NTES - Free Report) has an Earnings ESP of +0.00% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
NetEase is set to announce third-quarter 2023 results on Nov 16. NTES shares have gained 49.2% year to date.
Upstart (UPST - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2.
Upstart is set to announce third-quarter 2023 results on Nov 7. UPST shares are up 86% year to date.
Clarivate (CLVT - Free Report) has an Earnings ESP of +5.56% and a Zacks Rank #3.
Clarivate is set to announce third-quarter 2023 results on Nov 7. CLVT shares declined 24.9% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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