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NortonLifeLock (NLOK) to Report Q1 Earnings: What's in Store?
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NortonLifeLock is scheduled to report first-quarter fiscal 2023 results on Aug 4.
The company projects quarterly revenues between $705 million and $715 million, suggesting year-over-year growth in the range of 2%-3.5%. We forecast the company’s first-quarter revenues to grow 2.9% year over year to $711.3 million.
For the first quarter of fiscal 2023, the company expects non-GAAP earnings from continuing operations in the range of 42 cents-44 cents per share. The Zacks Consensus Estimate is pegged at 42 cents per share, flat with the year-ago reported figure.
The company’s earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters while matching the same on one occasion, the average surprise being 1.8%.
Let’s see how things have shaped up before this announcement.
The increased demand for cybersecurity and ID analytics solutions amid the hybrid work environment is likely to have favored the to-be-reported quarter’s performance.
Over the past couple of years, as more people are shifting online, the need for online privacy has been rising. Global workforces working remotely are logging into employers' networks, escalating the need for digital security. This trend is likely to have spurred demand for NortonLifeLock’s security products in the fiscal first quarter.
Further, NLOK’s first-quarter performance is likely to have benefited from the expansion of its Norton family of products, including Norton Utilities Ultimate and Norton AntiTrack, while offering a broad range of cyber safety products with new features.
An expansion in the EMEA, Asia Pacific and Latin American regions is likely to have been an upside for NortonLifeLock this season. The growing number of client bookings, supported by their retention and renewal rates, is anticipated to have contributed to the company’s fiscal first-quarter top line. At the end of the fourth quarter of fiscal 2022, NortonLifeLock’s client retention rate was slightly more than 85%, while bookings grew 4%.
The Norton antivirus maker’s sustained focus on growing partner channels and employee benefit programs is likely to have driven its performance in the quarter to be reported.
However, NortonLifeLock’s overall first-quarter performance is likely to have been negatively impacted by unfavorable foreign exchange rates. On its last earnings conference call, the company stated that the strong U.S. dollar is likely to negatively impact first-quarter revenues by 3% and non-GAAP earnings by 3 cents per share.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for NortonLifeLock this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though NLOK currently carries a Zacks Rank of 3, it has 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.
Stocks With the Favorable Combination
Per our model, MRC Global (MRC - Free Report) , Grocery Outlet (GO - Free Report) and Alcon (ALC - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
MRC Global is slated to report second-quarter 2022 results on Aug 8. The company sports a Zacks Rank #1 and an Earnings ESP of +10.35% at present. MRC's earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while matching the same in one, the average surprise being 140.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MRC’s quarterly earnings is pegged at 29 cents per share, suggesting a whopping year-over-year surge of 262.5%. Its quarterly revenues are estimated to increase 23.5% year over year to $847.3 million.
Grocery Outlet sports a Zacks Rank #1 and has an Earnings ESP of +5.62. The company is slated to report its second-quarter 2022 results on Aug 9. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.8%.
The Zacks Consensus Estimate for GO’s second-quarter earnings stands at 24 cents per share, suggesting a year-over-year increase of 4.4%. Grocery Outlet anticipates revenues of $859.6 million, which suggests growth of 10.8% from the year-ago quarter.
Alcon carries a Zacks Rank #2 and an Earnings ESP of +1.08%. The company is expected to report second-quarter 2022 results on Aug 16. ALC's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.4%.
For the second quarter, the Zacks Consensus Estimate for Alcon’s earnings is pegged at 55 cents per share, indicating a 1.8% year-over-year decline. However, revenues are expected to grow 4.4% to $2.19 billion.
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NortonLifeLock (NLOK) to Report Q1 Earnings: What's in Store?
NortonLifeLock is scheduled to report first-quarter fiscal 2023 results on Aug 4.
The company projects quarterly revenues between $705 million and $715 million, suggesting year-over-year growth in the range of 2%-3.5%. We forecast the company’s first-quarter revenues to grow 2.9% year over year to $711.3 million.
For the first quarter of fiscal 2023, the company expects non-GAAP earnings from continuing operations in the range of 42 cents-44 cents per share. The Zacks Consensus Estimate is pegged at 42 cents per share, flat with the year-ago reported figure.
The company’s earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters while matching the same on one occasion, the average surprise being 1.8%.
Let’s see how things have shaped up before this announcement.
NortonLifeLock Inc. Price and EPS Surprise
NortonLifeLock Inc. price-eps-surprise | NortonLifeLock Inc. Quote
Factors to Note
The increased demand for cybersecurity and ID analytics solutions amid the hybrid work environment is likely to have favored the to-be-reported quarter’s performance.
Over the past couple of years, as more people are shifting online, the need for online privacy has been rising. Global workforces working remotely are logging into employers' networks, escalating the need for digital security. This trend is likely to have spurred demand for NortonLifeLock’s security products in the fiscal first quarter.
Further, NLOK’s first-quarter performance is likely to have benefited from the expansion of its Norton family of products, including Norton Utilities Ultimate and Norton AntiTrack, while offering a broad range of cyber safety products with new features.
An expansion in the EMEA, Asia Pacific and Latin American regions is likely to have been an upside for NortonLifeLock this season. The growing number of client bookings, supported by their retention and renewal rates, is anticipated to have contributed to the company’s fiscal first-quarter top line. At the end of the fourth quarter of fiscal 2022, NortonLifeLock’s client retention rate was slightly more than 85%, while bookings grew 4%.
The Norton antivirus maker’s sustained focus on growing partner channels and employee benefit programs is likely to have driven its performance in the quarter to be reported.
However, NortonLifeLock’s overall first-quarter performance is likely to have been negatively impacted by unfavorable foreign exchange rates. On its last earnings conference call, the company stated that the strong U.S. dollar is likely to negatively impact first-quarter revenues by 3% and non-GAAP earnings by 3 cents per share.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for NortonLifeLock this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though NLOK currently carries a Zacks Rank of 3, it has 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.
Stocks With the Favorable Combination
Per our model, MRC Global (MRC - Free Report) , Grocery Outlet (GO - Free Report) and Alcon (ALC - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
MRC Global is slated to report second-quarter 2022 results on Aug 8. The company sports a Zacks Rank #1 and an Earnings ESP of +10.35% at present. MRC's earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while matching the same in one, the average surprise being 140.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MRC’s quarterly earnings is pegged at 29 cents per share, suggesting a whopping year-over-year surge of 262.5%. Its quarterly revenues are estimated to increase 23.5% year over year to $847.3 million.
Grocery Outlet sports a Zacks Rank #1 and has an Earnings ESP of +5.62. The company is slated to report its second-quarter 2022 results on Aug 9. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.8%.
The Zacks Consensus Estimate for GO’s second-quarter earnings stands at 24 cents per share, suggesting a year-over-year increase of 4.4%. Grocery Outlet anticipates revenues of $859.6 million, which suggests growth of 10.8% from the year-ago quarter.
Alcon carries a Zacks Rank #2 and an Earnings ESP of +1.08%. The company is expected to report second-quarter 2022 results on Aug 16. ALC's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.4%.
For the second quarter, the Zacks Consensus Estimate for Alcon’s earnings is pegged at 55 cents per share, indicating a 1.8% year-over-year decline. However, revenues are expected to grow 4.4% to $2.19 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.