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The Zacks Consensus Estimate for the company’s second-quarter earnings has been revised downward by 4.6% in the past 60 days. AXON has trumped the Zacks Consensus Estimate for earnings in each of the preceding four quarters, the average beat being 44.4%.
Let’s see how things have shaped up for Axon this earnings season.
Axon’s second-quarter performance is likely to have been hurt by escalating cost of sales and supply-chain woes. Significant investments in research and development to cater to body camera technology are likely to have hurt its bottom line in the to-be-reported quarter. Foreign currency headwinds might have dented its top line.
However, strong demand for Axon’s latest generation TASER 7 device and Axon Fleet 3 systems is likely to have driven Axon’s second-quarter performance.
Axon’s TASER segment is expected to reflect higher revenues on the back of strong demand for TASER 7 device, higher cartridge volumes and strong sales from the virtual reality training service. The Zacks Consensus Estimate for TASER segment revenues indicate an 8.8% increase from the year-ago reported figure.
The Software & Sensors segment is expected to have benefited from strong demand for Axon Cloud SaaS solutions and Axon Fleet 3 systems. Strong domestic demand for software-heavy premium integrated bundles and healthy momentum in digital evidence management, productivity, and real-time operations platforms are expected to have boosted Axon Cloud revenues within the segment. Higher shipments of Axon Fleet 3 in-car cameras are expected to have driven Sensors & Other revenues. The Zacks Consensus Estimate for Software & Sensors segment revenues hints at a 33.3% jump from the year-ago reported figure.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Axon this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below.
Earnings ESP: Axon has an Earnings ESP of -18.07% as the Most Accurate Estimate is pegged at 51 cents, lower than the Zacks Consensus Estimate of 62 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Axon currently carries a Zacks Rank #4 (Sell).
Highlights of Q1 Earnings
In first-quarter 2023, Axon reported adjusted earnings of 88 cents per share, which beat the Zacks Consensus Estimate of 46 cents. Revenues of $343.04 million surpassed the Zacks Consensus Estimate by 9.9%. Both the top and bottom lines increased significantly year over year.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which, according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
The Zacks Consensus Estimate for RBC Bearings’ fiscal first-quarter earnings has been revised upward by 4.2% in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 12.4%, on average.
Tetra Tech (TTEK - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #3. The company is slated to release third-quarter fiscal 2023 (ended Jun 30, 2023) financial numbers on Aug 9.
The Zacks Consensus Estimate for Tetra Tech’s fiscal third-quarter earnings has been revised upward by 25.4% in the past 60 days. The company delivered a trailing four-quarter earnings surprise of 11%, on average.
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What's in the Offing for Axon (AXON) This Earnings Season?
Axon Enterprise (AXON - Free Report) is scheduled to release second-quarter 2023 results on Aug 8, after market close.
The Zacks Consensus Estimate for the company’s second-quarter earnings has been revised downward by 4.6% in the past 60 days. AXON has trumped the Zacks Consensus Estimate for earnings in each of the preceding four quarters, the average beat being 44.4%.
Let’s see how things have shaped up for Axon this earnings season.
Axon Enterprise, Inc Price and EPS Surprise
Axon Enterprise, Inc price-eps-surprise | Axon Enterprise, Inc Quote
Factors to Note
Axon’s second-quarter performance is likely to have been hurt by escalating cost of sales and supply-chain woes. Significant investments in research and development to cater to body camera technology are likely to have hurt its bottom line in the to-be-reported quarter. Foreign currency headwinds might have dented its top line.
However, strong demand for Axon’s latest generation TASER 7 device and Axon Fleet 3 systems is likely to have driven Axon’s second-quarter performance.
Axon’s TASER segment is expected to reflect higher revenues on the back of strong demand for TASER 7 device, higher cartridge volumes and strong sales from the virtual reality training service. The Zacks Consensus Estimate for TASER segment revenues indicate an 8.8% increase from the year-ago reported figure.
The Software & Sensors segment is expected to have benefited from strong demand for Axon Cloud SaaS solutions and Axon Fleet 3 systems. Strong domestic demand for software-heavy premium integrated bundles and healthy momentum in digital evidence management, productivity, and real-time operations platforms are expected to have boosted Axon Cloud revenues within the segment. Higher shipments of Axon Fleet 3 in-car cameras are expected to have driven Sensors & Other revenues. The Zacks Consensus Estimate for Software & Sensors segment revenues hints at a 33.3% jump from the year-ago reported figure.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Axon this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below.
Earnings ESP: Axon has an Earnings ESP of -18.07% as the Most Accurate Estimate is pegged at 51 cents, lower than the Zacks Consensus Estimate of 62 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Axon currently carries a Zacks Rank #4 (Sell).
Highlights of Q1 Earnings
In first-quarter 2023, Axon reported adjusted earnings of 88 cents per share, which beat the Zacks Consensus Estimate of 46 cents. Revenues of $343.04 million surpassed the Zacks Consensus Estimate by 9.9%. Both the top and bottom lines increased significantly year over year.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which, according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
RBC Bearings (RBC - Free Report) has an Earnings ESP of +1.35% and a Zacks Rank #2. The company is scheduled to report first-quarter fiscal 2024 (ended Jun 30, 2023) earnings numbers on Aug 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RBC Bearings’ fiscal first-quarter earnings has been revised upward by 4.2% in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 12.4%, on average.
Tetra Tech (TTEK - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #3. The company is slated to release third-quarter fiscal 2023 (ended Jun 30, 2023) financial numbers on Aug 9.
The Zacks Consensus Estimate for Tetra Tech’s fiscal third-quarter earnings has been revised upward by 25.4% in the past 60 days. The company delivered a trailing four-quarter earnings surprise of 11%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.