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What's in the Offing for SMART Global (SGH) in Q2 Earnings?
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SMART Global Holdings, Inc. (SGH - Free Report) is slated to report second-quarter fiscal 2023 results on Apr 4.
The company expects revenues between $410 million and $460 million for the fiscal second quarter. The Zacks Consensus Estimate for the same is pegged at $435.01 million, indicating a decline of 3.1% from the year-ago reported quarter.
SMART Global anticipates non-GAAP earnings per share between 45 cents and 75 cents. The consensus mark for fiscal second-quarter earnings is pegged at 60 cents per share, indicating a fall of 31% from the prior-year reported figure.
The company has a trailing four-quarters earnings surprise of 22.9%, on average.
SMART Global Holdings, Inc. Price and EPS Surprise
SMART Global’s strong execution and solid momentum across Intelligent Platform Solutions are likely to have contributed well to its top-line growth in the fiscal second quarter.
Strengthening Penguin's cloud-based solutions, and solutions focused on core, data center, AI and analytics are expected to have driven the company’s customer momentum in the quarter under review.
The growing traction across video, architectural and landscape specialty lighting markets, driven by the strong demand for high-brightness products, is expected to have aided sales of LED Solutions.
The solid adoption of core DDR3, DDR4 and Flash products is expected to have boosted SMART Global’s presence in the networking, telecom and storage end markets.
Increasing adoption of CV94D products, and solid momentum in design wins across horticulture, indoor sports lighting and road signage applications are anticipated to have been other tailwinds in the quarter under review.
However, the impacts of the coronavirus-induced supply-chain constraints and other uncertainties are expected to get reflected in SMART Global’s fiscal second-quarter results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SMART Global this time around. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
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What's in the Offing for SMART Global (SGH) in Q2 Earnings?
SMART Global Holdings, Inc. (SGH - Free Report) is slated to report second-quarter fiscal 2023 results on Apr 4.
The company expects revenues between $410 million and $460 million for the fiscal second quarter. The Zacks Consensus Estimate for the same is pegged at $435.01 million, indicating a decline of 3.1% from the year-ago reported quarter.
SMART Global anticipates non-GAAP earnings per share between 45 cents and 75 cents. The consensus mark for fiscal second-quarter earnings is pegged at 60 cents per share, indicating a fall of 31% from the prior-year reported figure.
The company has a trailing four-quarters earnings surprise of 22.9%, on average.
SMART Global Holdings, Inc. Price and EPS Surprise
SMART Global Holdings, Inc. price-eps-surprise | SMART Global Holdings, Inc. Quote
Factors to Consider
SMART Global’s strong execution and solid momentum across Intelligent Platform Solutions are likely to have contributed well to its top-line growth in the fiscal second quarter.
Strengthening Penguin's cloud-based solutions, and solutions focused on core, data center, AI and analytics are expected to have driven the company’s customer momentum in the quarter under review.
The growing traction across video, architectural and landscape specialty lighting markets, driven by the strong demand for high-brightness products, is expected to have aided sales of LED Solutions.
The solid adoption of core DDR3, DDR4 and Flash products is expected to have boosted SMART Global’s presence in the networking, telecom and storage end markets.
Increasing adoption of CV94D products, and solid momentum in design wins across horticulture, indoor sports lighting and road signage applications are anticipated to have been other tailwinds in the quarter under review.
However, the impacts of the coronavirus-induced supply-chain constraints and other uncertainties are expected to get reflected in SMART Global’s fiscal second-quarter results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SMART Global this time around. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
SMART Global currently has a Zacks Rank #3 and an Earnings ESP of 0.00%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this reporting cycle.
AutoZone (AZO - Free Report) currently has a Zacks Rank #2 and an Earnings ESP of +0.57%.
AutoZone shares have gained 3.7% in the past year. The long-term earnings growth rate for AZO is projected at 11.43%.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.25% and a Zacks Rank #2 at present.
Agilent shares have lost 13.4% in the past year. The long-term earnings growth rate for A is projected at 12%.
American Eagle Outfitters (AEO - Free Report) has an Earnings ESP of +0.11% and a Zacks Rank #3 at present.
American Eagle shares have lost 5.1% in the past year. The long-term earnings growth rate for AEO is projected at 12.59%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.