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What's in the Offing for Analog Devices (ADI) in Q4 Earnings?
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Analog Devices, Inc. (ADI - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Nov 21.
For the fiscal fourth quarter, ADI expects revenues of $2.70 billion (+/- $100 million). The Zacks Consensus Estimate for ADI’s revenues is pegged at $2.71 billion, indicating a decline of 16.5% from the year-ago quarter’s reported figure.
Analog Devices anticipates adjusted earnings per share of $2.00 (+/- $0.10). The consensus mark for fourth-quarter earnings is pinned at $2.01 per share, indicating a 26.4% fall from the previous-year fiscal quarter’s reported figure.
Earnings of ADI surpassed estimates in three of the trailing four quarters while missing the same once, the average being 3.3%.
Analog Devices’ performance in the fiscal fourth quarter is likely to have benefited from strength in high-performance analog and mixed-signal solutions.
Solid momentum across industrial and automotive end markets is expected to have driven ADI’s top line in the to-be-reported quarter.
Growing adoption of Analog Devices’ precision signal chain, RF portfolios, power franchises, sensing technologies and wired and wireless connectivity in factory automation applications is expected to have contributed well to its industrial revenues in the quarter under review.
However, challenging market conditions might have been a concern.
The Zacks Consensus Estimate for industrial revenues is pegged at $1.41 billion, indicating a decline of 15.2% from the year-ago fiscal quarter.
Solid demand for the Battery Management System solution in the electric vehicle space is likely to have been a tailwind.
Strength across A2B solutions is likely to have driven Analog Devices’ performance in the automotive market in the fiscal fourth quarter.
The Zacks Consensus Estimate for automotive revenues is pegged at $679 million, indicating growth of 1% from the year-ago fiscal quarter.
However, a weak demand environment in the consumer end market might have impacted the company’s upcoming results negatively.
The Zacks Consensus Estimate for industrial revenues is pegged at $295 million, indicating a decline of 28.4% from the year-ago fiscal quarter.
Also, broad-based inventory correction is likely to have continued hurting Analog Devices’ performance in the communication market during the to-be-reported quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $334 million, indicating a fall of 33.5% from the year-ago fiscal quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Analog Devices 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, as elaborated below.
Analog Devices has an Earnings ESP of +0.97%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company currently carries a Zacks Rank #4 (Sell).
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.
Image: Bigstock
What's in the Offing for Analog Devices (ADI) in Q4 Earnings?
Analog Devices, Inc. (ADI - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Nov 21.
For the fiscal fourth quarter, ADI expects revenues of $2.70 billion (+/- $100 million). The Zacks Consensus Estimate for ADI’s revenues is pegged at $2.71 billion, indicating a decline of 16.5% from the year-ago quarter’s reported figure.
Analog Devices anticipates adjusted earnings per share of $2.00 (+/- $0.10). The consensus mark for fourth-quarter earnings is pinned at $2.01 per share, indicating a 26.4% fall from the previous-year fiscal quarter’s reported figure.
Earnings of ADI surpassed estimates in three of the trailing four quarters while missing the same once, the average being 3.3%.
Analog Devices, Inc. Price and EPS Surprise
Analog Devices, Inc. price-eps-surprise | Analog Devices, Inc. Quote
Factors to Consider
Analog Devices’ performance in the fiscal fourth quarter is likely to have benefited from strength in high-performance analog and mixed-signal solutions.
Solid momentum across industrial and automotive end markets is expected to have driven ADI’s top line in the to-be-reported quarter.
Growing adoption of Analog Devices’ precision signal chain, RF portfolios, power franchises, sensing technologies and wired and wireless connectivity in factory automation applications is expected to have contributed well to its industrial revenues in the quarter under review.
However, challenging market conditions might have been a concern.
The Zacks Consensus Estimate for industrial revenues is pegged at $1.41 billion, indicating a decline of 15.2% from the year-ago fiscal quarter.
Solid demand for the Battery Management System solution in the electric vehicle space is likely to have been a tailwind.
Strength across A2B solutions is likely to have driven Analog Devices’ performance in the automotive market in the fiscal fourth quarter.
The Zacks Consensus Estimate for automotive revenues is pegged at $679 million, indicating growth of 1% from the year-ago fiscal quarter.
However, a weak demand environment in the consumer end market might have impacted the company’s upcoming results negatively.
The Zacks Consensus Estimate for industrial revenues is pegged at $295 million, indicating a decline of 28.4% from the year-ago fiscal quarter.
Also, broad-based inventory correction is likely to have continued hurting Analog Devices’ performance in the communication market during the to-be-reported quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $334 million, indicating a fall of 33.5% from the year-ago fiscal quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Analog Devices 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, as elaborated below.
Analog Devices has an Earnings ESP of +0.97%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company currently carries a Zacks Rank #4 (Sell).
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.
Costco Wholesale (COST - Free Report) currently has an Earnings ESP of +3.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco is set to announce its first-quarter fiscal 2024 results on Dec 14. COST shares have gained 29.6% year to date.
Synopsys (SNPS - Free Report) has an Earnings ESP of +0.94% and a Zacks Rank #2 at present.
Synopsys is set to announce its fourth-quarter fiscal 2023 results on Nov 29. SNPS shares have declined 24.9% year to date.
Snowflake (SNOW - Free Report) currently has an Earnings ESP of +67.33% and a Zacks Rank #2.
Snowflake is set to announce its third-quarter fiscal 2024 results on Nov 29. SNOW shares have gained 86% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.