We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Sonos’ fiscal second-quarter performance is likely to have been affected by subdued demand for the home theater category across all regions due to a slow market for TV purchases.
In the fiscal second quarter, it expects revenues to decline 59% to 61% sequentially. It expects second-quarter revenues to have been pulled forward in the first quarter due to heightened promotional activity. 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 $32.4 million, indicating a year-over-year decline of 26.5%. The consensus estimate for Sonos speakers' revenues is pegged at $192.1 million, suggesting a dip of 19.5% year over year.
The company has been focused on its three strategic initiatives — expansion of its brand, augmenting its product portfolio and expanding of geographical footprint. 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. This is not the case here.
SONO has an Earnings ESP of 0.00% and a Zacks Rank #3. 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 EMR’s to-be-reported quarter’s earnings and revenues is pegged at $1.26 per share and $4.29 billion, respectively. The stock has risen 30% in the past year.
Gray Television, Inc (GTN - Free Report) has an Earnings ESP of +9.26% and presently carries a Zacks Rank #2. GTN is slated to release quarterly numbers on May 7.
The Zacks Consensus Estimate for GTN’s to-be-reported quarter’s earnings and revenues is pegged at 54 cents per share and $818 million, respectively. Shares of GTN have gained 17.1% in the past year.
The GEO Group, Inc (GEO - Free Report) has an Earnings ESP of +3.90% and currently sports a Zacks Rank #1. GEO is scheduled to report quarterly earnings on May 7.
The Zacks Consensus Estimate for GEO’s to-be-reported quarter’s earnings and revenues is pegged at 19 cents per share and $603.8 million, respectively. Shares of GEO have surged 64% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Sonos (SONO) to Report Q2 Earnings: What's in the Cards?
Sonos Inc (SONO - Free Report) is scheduled to report second-quarter fiscal 2024 results on May 7.
The Zacks Consensus Estimate for revenues is pegged at $246.5 million, indicating a year-over-year decline of 19%.
The consensus estimate is pegged at a loss of 27 cents per share. In the prior-year quarter, the company incurred a loss of 24 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 second-quarter performance is likely to have been affected by subdued demand for the home theater category across all regions due to a slow market for TV purchases.
In the fiscal second quarter, it expects revenues to decline 59% to 61% sequentially. It expects second-quarter revenues to have been pulled forward in the first quarter due to heightened promotional activity. 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 $32.4 million, indicating a year-over-year decline of 26.5%. The consensus estimate for Sonos speakers' revenues is pegged at $192.1 million, suggesting a dip of 19.5% year over year.
The company has been focused on its three strategic initiatives — expansion of its brand, augmenting its product portfolio and expanding of geographical footprint. 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. This is not the case here.
SONO has an Earnings ESP of 0.00% and a Zacks Rank #3. 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.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +1.99% and a Zacks Rank #2. EMR is scheduled to report second-quarter fiscal 2024 earnings on May 8. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EMR’s to-be-reported quarter’s earnings and revenues is pegged at $1.26 per share and $4.29 billion, respectively. The stock has risen 30% in the past year.
Gray Television, Inc (GTN - Free Report) has an Earnings ESP of +9.26% and presently carries a Zacks Rank #2. GTN is slated to release quarterly numbers on May 7.
The Zacks Consensus Estimate for GTN’s to-be-reported quarter’s earnings and revenues is pegged at 54 cents per share and $818 million, respectively. Shares of GTN have gained 17.1% in the past year.
The GEO Group, Inc (GEO - Free Report) has an Earnings ESP of +3.90% and currently sports a Zacks Rank #1. GEO is scheduled to report quarterly earnings on May 7.
The Zacks Consensus Estimate for GEO’s to-be-reported quarter’s earnings and revenues is pegged at 19 cents per share and $603.8 million, respectively. Shares of GEO have surged 64% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.