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For the second quarter, the company expects net revenues of $4.28 billion at the mid-point. The Zacks Consensus Estimate is pegged at $4.27 billion, suggesting growth of 11.4% from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at $1.10 per share, indicating growth of 19.6% from the year-ago reported figure.
STM surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 13.83%.
Solid demand in power and energy, factory automation, robotics, and building control categories are likely to have driven STMicroelectronics’ top-line growth in the B2B industrial market in the quarter under review.
Further, STM’s strong portfolio of embedded processing solutions is expected to have aided it in several design wins across a wide range of industrial applications.
The growing momentum of the automotive product group across all geographies is likely to have aided STM’s performance in the to-be-reported quarter.
Further, STM’s deepening focus toward car electrification is expected to have boosted its design wins from electric vehicle makers.
Additionally, strength in STM’s SPC5 microcontrollers for vehicle body control is likely to have contributed well to the performance of the legacy automotive business in the quarter under review.
Increasing design wins for vehicle dynamics, airbags and anti-theft applications is expected to have benefited STM’s automotive center business.
All the above-mentioned factors are anticipated to have aided the overall second-quarter performance of the company.
However, negative price pressure due to increasing manufacturing input costs is expected to have been a concern.
Softening demand for battery-operated tools and home appliances is expected to have impacted STM’s growth negatively in the quarter under discussion.
Further, impacts of mounting expenses, inflationary pressure and rising geopolitical tensions are likely to get reflected in the upcoming results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for STMicroelectronics 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.
STMicroelectronics has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and has a Zacks Rank #2 at present.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.8% from the prior-year quarter’s reported figure.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.53% and a Zacks Rank #3.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year period’s reported figure.
Image: Bigstock
What's in Store for STMicroelectronics (STM) in Q2 Earnings?
STMicroelectronics (STM - Free Report) is scheduled to report second-quarter 2023 results on Jul 27.
For the second quarter, the company expects net revenues of $4.28 billion at the mid-point. The Zacks Consensus Estimate is pegged at $4.27 billion, suggesting growth of 11.4% from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at $1.10 per share, indicating growth of 19.6% from the year-ago reported figure.
STM surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 13.83%.
STMicroelectronics N.V. Price and EPS Surprise
STMicroelectronics N.V. price-eps-surprise | STMicroelectronics N.V. Quote
Factors to Consider
Solid demand in power and energy, factory automation, robotics, and building control categories are likely to have driven STMicroelectronics’ top-line growth in the B2B industrial market in the quarter under review.
Further, STM’s strong portfolio of embedded processing solutions is expected to have aided it in several design wins across a wide range of industrial applications.
The growing momentum of the automotive product group across all geographies is likely to have aided STM’s performance in the to-be-reported quarter.
Further, STM’s deepening focus toward car electrification is expected to have boosted its design wins from electric vehicle makers.
Additionally, strength in STM’s SPC5 microcontrollers for vehicle body control is likely to have contributed well to the performance of the legacy automotive business in the quarter under review.
Increasing design wins for vehicle dynamics, airbags and anti-theft applications is expected to have benefited STM’s automotive center business.
All the above-mentioned factors are anticipated to have aided the overall second-quarter performance of the company.
However, negative price pressure due to increasing manufacturing input costs is expected to have been a concern.
Softening demand for battery-operated tools and home appliances is expected to have impacted STM’s growth negatively in the quarter under discussion.
Further, impacts of mounting expenses, inflationary pressure and rising geopolitical tensions are likely to get reflected in the upcoming results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for STMicroelectronics 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.
STMicroelectronics has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Itron (ITRI - Free Report) has an Earnings ESP of +13.78% and sports a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and has a Zacks Rank #2 at present.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.8% from the prior-year quarter’s reported figure.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.53% and a Zacks Rank #3.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year period’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.