We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Joby Aviation (JOBY) in Q2 Earnings?
Read MoreHide Full Article
Joby Aviation (JOBY - Free Report) is scheduled to release second-quarter 2023 results on Aug 2, after market close.
The transportation company has a modest surprise record, as its earnings beat the Zacks Consensus Estimate in only one of the last four quarters, missing once and reporting in-line earnings in the other two quarters. The average beat is 3.89%.
The Zacks Consensus Estimate has remained stable at a loss of 14 cents per share over the past 60 days.
Against this backdrop, let’s examine the factors likely to have influenced JOBY’s June-quarter performance.
We expect Joby Aviation’s second-quarter bottom-line performance to have been affected by high operating expenses. Elevated research and development (R&D) costs, and selling, general and administrative expenses are likely to have pushed up operating costs.
With the company focusing on developing all-electric aircraft for commercial passenger service, R&D expenses are likely to have been high. Updates on key developments in the quarter like the regulator granting approval for test flights and $100 million investment in JOBY from South Korean telecommunication company, SK Telecom, are also expected on call.
Earnings Whisper
Our proven model does not predict an earnings beat for JOBY 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. However, that is not the case here.
Earnings ESP: Joby Aviation has an Earnings ESP of 0.00% as the Most Accurate Estimate is in-line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Joby Aviation carries a Zacks Rank of 3, currently.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider since our model shows that these have the right combination of elements to beat on their second-quarter 2023 earnings.
Allegiant Travel (ALGT - Free Report) has an Earnings ESP of +2.09% and a Zacks Rank #2. ALGT will release second-quarter 2023 results on Aug 2. Upbeat passenger volumes are likely to have aided ALGT’s performance. You can seethe complete list of today’s Zacks #1 Rank stocks here.
ALGT has an expected earnings growth rate of 215.3% for the current year. The company surpassed the Zacks Consensus Estimate in two of the past four quarters, missing once and reporting in-line earnings in the other quarter. The average miss is 79.78%.
Copa Holdings (CPA - Free Report) currently has an Earnings ESP of +0.82% and carries a Zacks Rank #2. CPA will report second-quarter 2023 numbers on Aug 9.
We expect Copa’s performance to have been aided by upbeat air-travel demand. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the preceding four quarters, missing once and reporting in-line earnings on the other occasion by an average of 14.6%.
Image: Bigstock
What's in Store for Joby Aviation (JOBY) in Q2 Earnings?
Joby Aviation (JOBY - Free Report) is scheduled to release second-quarter 2023 results on Aug 2, after market close.
The transportation company has a modest surprise record, as its earnings beat the Zacks Consensus Estimate in only one of the last four quarters, missing once and reporting in-line earnings in the other two quarters. The average beat is 3.89%.
Joby Aviation, Inc. Price and EPS Surprise
Joby Aviation, Inc. price-eps-surprise | Joby Aviation, Inc. Quote
The Zacks Consensus Estimate has remained stable at a loss of 14 cents per share over the past 60 days.
Against this backdrop, let’s examine the factors likely to have influenced JOBY’s June-quarter performance.
We expect Joby Aviation’s second-quarter bottom-line performance to have been affected by high operating expenses. Elevated research and development (R&D) costs, and selling, general and administrative expenses are likely to have pushed up operating costs.
With the company focusing on developing all-electric aircraft for commercial passenger service, R&D expenses are likely to have been high. Updates on key developments in the quarter like the regulator granting approval for test flights and $100 million investment in JOBY from South Korean telecommunication company, SK Telecom, are also expected on call.
Earnings Whisper
Our proven model does not predict an earnings beat for JOBY 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. However, that is not the case here.
Earnings ESP: Joby Aviation has an Earnings ESP of 0.00% as the Most Accurate Estimate is in-line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Joby Aviation carries a Zacks Rank of 3, currently.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider since our model shows that these have the right combination of elements to beat on their second-quarter 2023 earnings.
Allegiant Travel (ALGT - Free Report) has an Earnings ESP of +2.09% and a Zacks Rank #2. ALGT will release second-quarter 2023 results on Aug 2. Upbeat passenger volumes are likely to have aided ALGT’s performance. You can see the complete list of today’s Zacks #1 Rank stocks here.
ALGT has an expected earnings growth rate of 215.3% for the current year. The company surpassed the Zacks Consensus Estimate in two of the past four quarters, missing once and reporting in-line earnings in the other quarter. The average miss is 79.78%.
Copa Holdings (CPA - Free Report) currently has an Earnings ESP of +0.82% and carries a Zacks Rank #2. CPA will report second-quarter 2023 numbers on Aug 9.
We expect Copa’s performance to have been aided by upbeat air-travel demand. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the preceding four quarters, missing once and reporting in-line earnings on the other occasion by an average of 14.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.