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What's in the Offing for SMART Global (SGH) in Q2 Earnings?
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SMART Global Holdings, Inc. (SGH - Free Report) is slated to report second-quarter fiscal 2024 results on Apr 9.
The company expects revenues between $260 million and $310 million for the fiscal second quarter. The Zacks Consensus Estimate for the same is pegged at $285.18 million, indicating a decline of 33.6% from the year-ago reported quarter.
SMART Global anticipates non-GAAP earnings per share between 15 cents and 35 cents. The consensus mark for fiscal second-quarter earnings is pegged at 25 cents per share, suggesting a fall of 67.1% from the prior-year figure.
The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing once, the average surprise being 29.9%.
SMART Global Holdings, Inc. Price and EPS Surprise
SMART Global’s strong execution and solid momentum across the LED Solutions segment on the back of the growing adoption of Cree LED are likely to have contributed well to its top-line growth in the fiscal second quarter.
In addition, strength across Intelligent Platform Solutions might have been a positive.
Expanding Penguin's cloud-based solutions and solutions focused on core, data center, AI and analytics are expected to have driven the company’s customer momentum in the quarter under review.
Growing traction of its immersion cooling technology among major oil and gas customers for sustainable data centers, is expected to have driven the Penguin solutions momentum.
Additionally, increasing adoption of CV94D products and solid momentum in design wins across horticulture, indoor sports lighting and road signage applications are anticipated to have been other tailwinds in the quarter under review.
However, a challenging global macroeconomic environment and growing economic uncertainties are likely to get reflected in SMART Global’s fiscal second-quarter results.
Further, weakening momentum across memory solutions might have been a major concern.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SMART Global 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.
SMART Global currently has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this reporting cycle.
Mr. Cooper Group is set to announce first-quarter 2024 results on Apr 24. The Zacks Consensus Estimate for COOP’s earnings is pinned at $2.07 per share, indicating growth of 76.9% from the year-ago quarter’s reported figure.
AptarGroup (ATR - Free Report) has an Earnings ESP of +0.59% and a Zacks Rank #2 at present.
AptarGroup is set to announce first-quarter 2024 results on Apr 25. The Zacks Consensus Estimate for ATR’s earnings is pinned at $1.13 per share, indicating growth of 19% from the year-ago quarter’s reported figure.
AZZ (AZZ - Free Report) has an Earnings ESP of +8.06% and a Zacks Rank #2 at present.
AZZ is scheduled to release fourth-quarter fiscal 2024 results on Apr 22. The Zacks Consensus Estimate for AZZ’s earnings is pegged at 70 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 30 cents per share.
Image: Shutterstock
What's in the Offing for SMART Global (SGH) in Q2 Earnings?
SMART Global Holdings, Inc. (SGH - Free Report) is slated to report second-quarter fiscal 2024 results on Apr 9.
The company expects revenues between $260 million and $310 million for the fiscal second quarter. The Zacks Consensus Estimate for the same is pegged at $285.18 million, indicating a decline of 33.6% from the year-ago reported quarter.
SMART Global anticipates non-GAAP earnings per share between 15 cents and 35 cents. The consensus mark for fiscal second-quarter earnings is pegged at 25 cents per share, suggesting a fall of 67.1% from the prior-year figure.
The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing once, the average surprise being 29.9%.
SMART Global Holdings, Inc. Price and EPS Surprise
SMART Global Holdings, Inc. price-eps-surprise | SMART Global Holdings, Inc. Quote
Factors to Consider
SMART Global’s strong execution and solid momentum across the LED Solutions segment on the back of the growing adoption of Cree LED are likely to have contributed well to its top-line growth in the fiscal second quarter.
In addition, strength across Intelligent Platform Solutions might have been a positive.
Expanding Penguin's cloud-based solutions and solutions focused on core, data center, AI and analytics are expected to have driven the company’s customer momentum in the quarter under review.
Growing traction of its immersion cooling technology among major oil and gas customers for sustainable data centers, is expected to have driven the Penguin solutions momentum.
Additionally, increasing adoption of CV94D products and solid momentum in design wins across horticulture, indoor sports lighting and road signage applications are anticipated to have been other tailwinds in the quarter under review.
However, a challenging global macroeconomic environment and growing economic uncertainties are likely to get reflected in SMART Global’s fiscal second-quarter results.
Further, weakening momentum across memory solutions might have been a major concern.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SMART Global 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.
SMART Global currently has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this reporting cycle.
Mr. Cooper Group (COOP - Free Report) has an Earnings ESP of +7.40% and a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Mr. Cooper Group is set to announce first-quarter 2024 results on Apr 24. The Zacks Consensus Estimate for COOP’s earnings is pinned at $2.07 per share, indicating growth of 76.9% from the year-ago quarter’s reported figure.
AptarGroup (ATR - Free Report) has an Earnings ESP of +0.59% and a Zacks Rank #2 at present.
AptarGroup is set to announce first-quarter 2024 results on Apr 25. The Zacks Consensus Estimate for ATR’s earnings is pinned at $1.13 per share, indicating growth of 19% from the year-ago quarter’s reported figure.
AZZ (AZZ - Free Report) has an Earnings ESP of +8.06% and a Zacks Rank #2 at present.
AZZ is scheduled to release fourth-quarter fiscal 2024 results on Apr 22. The Zacks Consensus Estimate for AZZ’s earnings is pegged at 70 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 30 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.