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Electronics Stock Aug 3 Earnings Roster: ITRI, KLAC & BWXT

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Electronics stocks’ upcoming results are anticipated to reflect the impact of COVID-19 outbreak. The rapidly spreading COVID-19 infection caused disruptions in major economic zones, which resulted in slowdown in productions and operations, as well as sluggish spending patterns. This is likely to have impacted the electronics stocks’ performance in the to-be-reported quarter.

For instance, weakness in key end markets — which in turn affected the performance of Transportation, Industrial and Communication segments — hurt TE Connectivity’s (TEL - Free Report) top line in fiscal second-quarter 2020. Moreover, coronavirus-induced disruptions remained a concern. However, the company witnessed growth across the data center market.

However, growth opportunities associated with high-performance computing, accelerated deployment of 5G technology and digital automotive are expected to have driven the industry participants’ performance to some extent in the quarter under review.

Amkor Technology (AMKR - Free Report) reported year-over-year increase in second-quarter 2020 earnings and revenues on account of solid demand for advanced products, as well as strength in consumer and communications end markets.

Sneak Peek Into a Few Upcoming Releases

Given this backdrop, let’s see how the following electronics stocks are poised ahead of their upcoming results, scheduled to release on Aug 3.

KLA-Tencor Corporation (KLAC - Free Report) is expected to have witnessed increased Semiconductor device demand for enterprise and cloud applications due to work from home surge and a strengthening gaming market in fiscal fourth-quarter 2020.

In addition, the company’s Gen5 optical inspection platform has been gaining momentum. (Read more: KLA-Tencor to Post Q4 Earnings: What's in the Cards?)

Our proven model predicts an earnings beat for KLA-Tencor this time around. 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. And that’s the case here.

KLA-Tencor has an Earnings ESP of +0.67% and a Zacks Rank #2.

The Zacks Consensus Estimate for revenues of $1.40 billion suggests an improvement of 11.49% from the year-ago quarter. The consensus estimate for earnings of $2.35 indicates fall of 32.02% from the prior-year quarter.

KLA Corporation Price and EPS Surprise

Itron, Inc.’s (ITRI - Free Report) second-quarter revenues are expected to reflect the uncertainties related to coronavirus-induced disruptions. However, the company is expected to have witnessed growth in the Networked Solutions segment despite coronavirus-induced disruptions.

It has an unfavorable combination of a Zacks Rank #5 (Strong Sell) and 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.

The Zacks Consensus Estimate for revenues of $488.65 million suggests a decline of 23.1% from the year-ago quarter. The consensus estimate for loss of 21 cents indicates fall of 124.1% from the prior-year quarter.

Itron, Inc. Price and EPS Surprise

BWX Technologies, Inc.’s (BWXT - Free Report) second-quarter revenues are expected to reflect the uncertainties related to coronavirus-induced disruptions. Also, the company is expected to have seen weaker demand for current medical radioisotope products as hospitals prioritized resources for COVID-19 patients.

However, its Nuclear Operations Group is expected to have performed well in the quarter.

The company has an unfavorable combination of a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.

You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for revenues of $470.25 million suggests a 0.2% decline from the year-ago quarter. The consensus estimate for earnings of 55 cents indicates fall of 11.3% from the prior-year quarter.

BWX Technologies, Inc. Price and EPS Surprise

BWX Technologies, Inc. Price and EPS Surprise

BWX Technologies, Inc. price-eps-surprise | BWX Technologies, Inc. Quote

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