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Confluent (CFLT) to Report Q4 Earnings: What's in the Offing?
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Confluent, Inc. (CFLT - Free Report) will release fourth-quarter 2023 results on Feb 7, 2024, after the bell.
The company has had an impressive earnings surprise history. It outperformed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, delivering an earnings surprise of 108.9% on average.
The Zacks Consensus Estimate for the top line in the to-be-reported quarter is currently pegged at $204.6 million, indicating 21.3% growth from the year-ago reported quarter. The top line is expected to have been positively impacted by subscription revenue growth, driven by sales to new and existing customers.
The bottom line is expected to have been positively impacted by operating efficiency. The Zacks Consensus Estimate for the bottom line is pegged at 5 cents, indicating a more than 100% year-over-year increase.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Confluent 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.
Confluent has an Earnings ESP of 0.00% and a Zacks Rank #2.
Other Stocks to Consider
Here are a few other stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
Waste Connections (WCN - Free Report) : The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $2 billion, indicating year-over-year growth of 8.6%. For earnings, the consensus mark is pegged at $1.08 per share, up 21.4% from the year-ago figure. The company beat the consensus estimate in all the past four quarters, with an average surprise of 1.5%.
Waste Management (WM - Free Report) : The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $5.2 billion, indicating year-over-year growth of 5.1%. For earnings, the consensus mark is pegged at $1.52 per share, up 16.9% from the year-ago figure. The company beat the consensus estimate in two of the past four quarters and missed on the other two instances. It has a negative average surprise of 1%.
WM currently has an Earnings ESP of +0.46% and a Zacks Rank of 2. The company is scheduled to declare its fourth-quarter results on Feb 12.
Fidelity National (FIS - Free Report) : The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $2.5 billion, indicating a year-over-year decline of 32.2%. For earnings, the consensus mark is pegged at 95 cents per share, 44.4% below the year-ago quarter figure. The company beat the consensus estimate in three of the past four quarters and missed once. It has an average negative surprise of 7%.
FIS currently has an Earnings ESP of +3.40% and a Zacks Rank of 3. The company is scheduled to declare its fourth-quarter results on Feb 26.
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Confluent (CFLT) to Report Q4 Earnings: What's in the Offing?
Confluent, Inc. (CFLT - Free Report) will release fourth-quarter 2023 results on Feb 7, 2024, after the bell.
The company has had an impressive earnings surprise history. It outperformed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, delivering an earnings surprise of 108.9% on average.
Confluent, Inc. Price and EPS Surprise
Confluent, Inc. price-eps-surprise | Confluent, Inc. Quote
Q4 Expectations
The Zacks Consensus Estimate for the top line in the to-be-reported quarter is currently pegged at $204.6 million, indicating 21.3% growth from the year-ago reported quarter. The top line is expected to have been positively impacted by subscription revenue growth, driven by sales to new and existing customers.
The bottom line is expected to have been positively impacted by operating efficiency. The Zacks Consensus Estimate for the bottom line is pegged at 5 cents, indicating a more than 100% year-over-year increase.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Confluent 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.
Confluent has an Earnings ESP of 0.00% and a Zacks Rank #2.
Other Stocks to Consider
Here are a few other stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
Waste Connections (WCN - Free Report) : The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $2 billion, indicating year-over-year growth of 8.6%. For earnings, the consensus mark is pegged at $1.08 per share, up 21.4% from the year-ago figure. The company beat the consensus estimate in all the past four quarters, with an average surprise of 1.5%.
WCN currently has an Earnings ESP of +0.05% and a Zacks Rank of 2. The company is scheduled to declare its fourth-quarter results on Feb 13. You can see the complete list of today’s Zacks #1 Rank stocks here.
Waste Management (WM - Free Report) : The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $5.2 billion, indicating year-over-year growth of 5.1%. For earnings, the consensus mark is pegged at $1.52 per share, up 16.9% from the year-ago figure. The company beat the consensus estimate in two of the past four quarters and missed on the other two instances. It has a negative average surprise of 1%.
WM currently has an Earnings ESP of +0.46% and a Zacks Rank of 2. The company is scheduled to declare its fourth-quarter results on Feb 12.
Fidelity National (FIS - Free Report) : The Zacks Consensus Estimate for the company’s fourth-quarter 2023 revenues is pegged at $2.5 billion, indicating a year-over-year decline of 32.2%. For earnings, the consensus mark is pegged at 95 cents per share, 44.4% below the year-ago quarter figure. The company beat the consensus estimate in three of the past four quarters and missed once. It has an average negative surprise of 7%.
FIS currently has an Earnings ESP of +3.40% and a Zacks Rank of 3. The company is scheduled to declare its fourth-quarter results on Feb 26.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.