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Sonos’ fiscal fourth-quarter performance is likely to have been affected by weaker consumer demand and inventory tightening by channel partners amid volatile macroeconomic conditions. Unfavorable forex movement and supply-chain issues resulting in increased component costs are likely to have been other headwinds.
Continued weakness in Sonos system products and the Sonos speakers segments is likely to have affected its performance in the quarter under discussion. The Zacks Consensus Estimate for Sonos system products’ revenues is pegged at $58 million, indicating a year-over-year decline of 7.9%. The consensus estimate for Sonos speakers' revenues is pegged at $229 million, suggesting a dip of 2.6% year over year.
Despite these headwinds, higher selling prices are expected to provide some cushioning to the fiscal fourth-quarter results. The company is likely to have benefited from the latest subscription-based software-as-a-service offering — Sonos Pro. Also, the robust uptake of Era 100 and Era 300 speakers is likely to have cushioned the top-line performance.
The company has been focused on its three strategic initiatives — expanding its brand, boosting its offerings and driving operational excellence. The flywheel initiatives are expected to have helped the company expand its customer base and monetize the existing customer install base through new product launches.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SONO 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.
SONO has an Earnings ESP of -50.00% and a Zacks Rank #3 (Hold). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks you may consider, as our proven model shows that these have the right mix of elements to beat estimates this time around.
The Zacks Consensus Estimate for WMT’s to-be-reported quarter’s earnings and revenues is pegged at $1.51 per share and $159.2 billion, respectively. The stock has risen 13.9% in the past year.
The TJX Companies, Inc (TJX - Free Report) has an Earnings ESP of +2.60% and a Zacks Rank #3. TJX is set to post third-quarter fiscal 2024 results on Nov 15.
The Zacks Consensus Estimate for TJX’s to-be-reported quarter’s earnings and revenues is pegged at 97 cents per share and $13.05 billion, respectively. Shares of TJX have gained 21.3% in the past year.
Ross Stores, Inc (ROST - Free Report) has an Earnings ESP of +2.08% and carries a Zacks Rank #2. ROST is slated to release third-quarter 2023 numbers on Nov 16.
The Zacks Consensus Estimate for ROST’s to-be-reported quarter’s earnings and revenues is pegged at $1.21 per share and $4.83 billion, respectively. Shares of ROST have increased 25.1% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Sonos (SONO) to Report Q4 Earnings: What's in the Cards?
Sonos Inc (SONO - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Nov 15.
The Zacks Consensus Estimate for revenues is pegged at $305.8 million, indicating a year-over-year decline of 3.3%.
The consensus estimate is pegged at a loss of 5 cents per share. In the prior-year quarter, the company incurred a loss of 50 cents.
Let’s see how things have shaped up for the upcoming announcement.
Sonos, Inc. Price and EPS Surprise
Sonos, Inc. price-eps-surprise | Sonos, Inc. Quote
Factors at Play
Sonos’ fiscal fourth-quarter performance is likely to have been affected by weaker consumer demand and inventory tightening by channel partners amid volatile macroeconomic conditions. Unfavorable forex movement and supply-chain issues resulting in increased component costs are likely to have been other headwinds.
Continued weakness in Sonos system products and the Sonos speakers segments is likely to have affected its performance in the quarter under discussion. The Zacks Consensus Estimate for Sonos system products’ revenues is pegged at $58 million, indicating a year-over-year decline of 7.9%. The consensus estimate for Sonos speakers' revenues is pegged at $229 million, suggesting a dip of 2.6% year over year.
Despite these headwinds, higher selling prices are expected to provide some cushioning to the fiscal fourth-quarter results. The company is likely to have benefited from the latest subscription-based software-as-a-service offering — Sonos Pro. Also, the robust uptake of Era 100 and Era 300 speakers is likely to have cushioned the top-line performance.
The company has been focused on its three strategic initiatives — expanding its brand, boosting its offerings and driving operational excellence. The flywheel initiatives are expected to have helped the company expand its customer base and monetize the existing customer install base through new product launches.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SONO 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.
SONO has an Earnings ESP of -50.00% and a Zacks Rank #3 (Hold). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks you may consider, as our proven model shows that these have the right mix of elements to beat estimates this time around.
Walmart (WMT - Free Report) has an Earnings ESP of +0.63% and a Zacks Rank #2. WMT is scheduled to report third-quarter fiscal 2024 earnings on Nov 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for WMT’s to-be-reported quarter’s earnings and revenues is pegged at $1.51 per share and $159.2 billion, respectively. The stock has risen 13.9% in the past year.
The TJX Companies, Inc (TJX - Free Report) has an Earnings ESP of +2.60% and a Zacks Rank #3. TJX is set to post third-quarter fiscal 2024 results on Nov 15.
The Zacks Consensus Estimate for TJX’s to-be-reported quarter’s earnings and revenues is pegged at 97 cents per share and $13.05 billion, respectively. Shares of TJX have gained 21.3% in the past year.
Ross Stores, Inc (ROST - Free Report) has an Earnings ESP of +2.08% and carries a Zacks Rank #2. ROST is slated to release third-quarter 2023 numbers on Nov 16.
The Zacks Consensus Estimate for ROST’s to-be-reported quarter’s earnings and revenues is pegged at $1.21 per share and $4.83 billion, respectively. Shares of ROST have increased 25.1% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.