Back to top

Image: Bigstock

Qorvo (QRVO) to Report Q3 Earnings: What's in the Cards?

Read MoreHide Full Article

Qorvo, Inc. (QRVO - Free Report) is scheduled to report third-quarter fiscal 2022 results on Feb 2, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 5.2%. It pulled off a trailing four-quarter earnings surprise of 12.1%, on average.

The Greensboro, NC-based company is expected to have recorded year-over-year higher revenues driven by product launches and strength across customer segments.

Factors at Play

During the quarter, Qorvo entered into a channel agreement with TCT Brasil to support sales of Qorvo’s Infrastructure and Defense products in Brazil. TCT Brasil operates as an authorized distributor in the supply of semiconductors and electronic components.

Qorvo acquired Princeton, New Jersey-based United Silicon Carbide, a leading manufacturer of silicon carbide power semiconductors. The acquisition has expanded Qorvo’s reach into the fast-growing markets for electric vehicles, industrial power, circuit protection, renewables and data center power.

Qorvo supplied Ultra-Wideband (UWB) technology for Google’s Pixel 6 Pro flagship smartphone. UWB provides ultra-precise distance and location information, enabling context awareness to connected devices for intuitive user experiences.

Qorvo launched three wideband power amplifiers that offer industry-leading performance over the full 1-40 GHz frequency range to support requirements for electronic warfare, radar and test equipment applications. These developments are likely to have positively impacted Qorvo’s performance in the quarter.

The Zacks Consensus Estimate for Qorvo’s revenues is pegged at $1,107 million, which indicates growth of 1.1% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at $2.75, suggesting a decline of 10.7%.

What Our Model Says

Our proven model doesn’t conclusively predict an earnings beat for Qorvo. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: Qorvo’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at $2.75.

Qorvo, Inc. Price and EPS Surprise

Qorvo, Inc. Price and EPS Surprise

Qorvo, Inc. price-eps-surprise | Qorvo, Inc. Quote

Zacks Rank: Qorvo currently carries a Zacks Rank #3.

Stocks to Consider

Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Hasbro, Inc. (HAS - Free Report) is slated to release fourth-quarter 2021 results on Feb 7. Hasbro has an Earnings ESP of +2.50% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Brixmor Property Group Inc. (BRX - Free Report) is scheduled to release fourth-quarter 2021 results on Feb 7. Brixmor Property has an Earnings ESP of +0.82% and a Zacks Rank #2.

CNA Financial Corporation (CNA - Free Report) has an Earnings ESP of +2.65% and a Zacks Rank #3. CNA Financial is set to report fourth-quarter 2021 results on Feb 7.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Published in