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Analog Devices (ADI) to Post Q1 Earnings: What's in the Cards?
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Analog Devices, Inc. (ADI - Free Report) is scheduled to report first-quarter fiscal 2024 results on Feb 21.
For the fiscal first quarter, ADI expects revenues of $2.50 billion (+/- $100 million). The Zacks Consensus Estimate for the same is pegged at $2.50 billion, indicating a decline of 23.1% from the year-ago reported figure.
Analog Devices anticipates adjusted earnings per share of $1.70 (+/- $0.10) per share for the quarter under review. The consensus mark for the same is pegged at $1.71 per share, indicating a 37.8% fall from the previous year’s reported figure.
Earnings of ADI surpassed estimates in two of the trailing four quarters, while matching the same once and missing it in another occasion, the average beat being 1.88%.
Solid momentum in the automotive end market is expected to have driven the top line of Analog Devices in the fiscal first quarter.
Strength across the electric vehicle space on the back of the company’s robust Battery Management System solutions is anticipated to have contributed well to the automotive revenues.
However, a challenging macroeconomic scenario is expected to have been a major headwind in the quarter under review.
The Zacks Consensus Estimate for automotive revenues is pegged at $697 million, indicating a decline of 2.9% from the year-ago quarter’s reported figure.
Sluggishness in the communications market due to the broad-based inventory corrections is likely to have impacted the company’s performance negatively.
The Zacks Consensus Estimate for communications revenues is pegged at $319 million, indicating a fall of 34.6% from the year-ago quarter’s actual.
Inventory correction is expected to have led to a broad-based weakness in the industrial end-market in the to-be-reported quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $1.21 billion, indicating a decrease of 28.2% from the year-ago quarter’s reported number.
Meanwhile, a weak demand environment is likely to have been a headwind for Analog Devices’ prospects in the consumer market in the fiscal first quarter.
The Zacks Consensus Estimate for consumer revenues is pegged at $268 million, indicating a fall of 24.1% from the year-ago quarter’s reported figure.
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.
Analog Devices currently has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
ADI carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some stocks that you may consider, as our model shows that they have the right combination of elements to beat on earnings this season.
The Gap is set to announce fourth-quarter 2023 results on Mar 7. The Zacks Consensus Estimate for GPS’s earnings is pinned at 19 cents per share, which compares favorably with the year-ago quarter’s reported loss of 75 cents.
Eldorado Gold (EGO - Free Report) has an Earnings ESP of +5.88% and a Zacks Rank #2 at present.
Eldorado Gold is set to announce fourth-quarter 2023 results on Feb 22. The Zacks Consensus Estimate for EGO’s earnings is pinned at 21 cents per share, indicating growth of 50% from the year-ago quarter’s reported figure.
Booking Holdings (BKNG - Free Report) has an Earnings ESP of +2.07% and a Zacks Rank #3 at present.
Booking Holdings is scheduled to release fourth-quarter 2023 results on Feb 22. The Zacks Consensus Estimate for BKNG’s earnings is pegged at $29.69 per share, suggesting a jump of 20% from the prior-year quarter’s actual.
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Analog Devices (ADI) to Post Q1 Earnings: What's in the Cards?
Analog Devices, Inc. (ADI - Free Report) is scheduled to report first-quarter fiscal 2024 results on Feb 21.
For the fiscal first quarter, ADI expects revenues of $2.50 billion (+/- $100 million). The Zacks Consensus Estimate for the same is pegged at $2.50 billion, indicating a decline of 23.1% from the year-ago reported figure.
Analog Devices anticipates adjusted earnings per share of $1.70 (+/- $0.10) per share for the quarter under review. The consensus mark for the same is pegged at $1.71 per share, indicating a 37.8% fall from the previous year’s reported figure.
Earnings of ADI surpassed estimates in two of the trailing four quarters, while matching the same once and missing it in another occasion, the average beat being 1.88%.
Analog Devices, Inc. Price and EPS Surprise
Analog Devices, Inc. price-eps-surprise | Analog Devices, Inc. Quote
Factors to Consider
Solid momentum in the automotive end market is expected to have driven the top line of Analog Devices in the fiscal first quarter.
Strength across the electric vehicle space on the back of the company’s robust Battery Management System solutions is anticipated to have contributed well to the automotive revenues.
However, a challenging macroeconomic scenario is expected to have been a major headwind in the quarter under review.
The Zacks Consensus Estimate for automotive revenues is pegged at $697 million, indicating a decline of 2.9% from the year-ago quarter’s reported figure.
Sluggishness in the communications market due to the broad-based inventory corrections is likely to have impacted the company’s performance negatively.
The Zacks Consensus Estimate for communications revenues is pegged at $319 million, indicating a fall of 34.6% from the year-ago quarter’s actual.
Inventory correction is expected to have led to a broad-based weakness in the industrial end-market in the to-be-reported quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $1.21 billion, indicating a decrease of 28.2% from the year-ago quarter’s reported number.
Meanwhile, a weak demand environment is likely to have been a headwind for Analog Devices’ prospects in the consumer market in the fiscal first quarter.
The Zacks Consensus Estimate for consumer revenues is pegged at $268 million, indicating a fall of 24.1% from the year-ago quarter’s reported figure.
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.
Analog Devices currently has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
ADI carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some stocks that you may consider, as our model shows that they have the right combination of elements to beat on earnings this season.
The Gap (GPS - Free Report) has an Earnings ESP of +24.44% and sports a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Gap is set to announce fourth-quarter 2023 results on Mar 7. The Zacks Consensus Estimate for GPS’s earnings is pinned at 19 cents per share, which compares favorably with the year-ago quarter’s reported loss of 75 cents.
Eldorado Gold (EGO - Free Report) has an Earnings ESP of +5.88% and a Zacks Rank #2 at present.
Eldorado Gold is set to announce fourth-quarter 2023 results on Feb 22. The Zacks Consensus Estimate for EGO’s earnings is pinned at 21 cents per share, indicating growth of 50% from the year-ago quarter’s reported figure.
Booking Holdings (BKNG - Free Report) has an Earnings ESP of +2.07% and a Zacks Rank #3 at present.
Booking Holdings is scheduled to release fourth-quarter 2023 results on Feb 22. The Zacks Consensus Estimate for BKNG’s earnings is pegged at $29.69 per share, suggesting a jump of 20% from the prior-year quarter’s actual.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.