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What's in the Offing for Analog Devices (ADI) in Q2 Earnings?
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Analog Devices, Inc. (ADI - Free Report) is scheduled to report second-quarter fiscal 2024 results on May 22.
For the fiscal second quarter, ADI expects revenues of $2.10 billion (+/- $100 million). The Zacks Consensus Estimate for ADI’s revenues is pegged at $2.10 billion, indicating a decline of 35.5% from the year-ago quarter’s reported figure.
Analog Devices anticipates adjusted earnings per share of $1.26 (+/- $0.10). The consensus mark for fiscal second-quarter earnings is pinned at $1.26 per share, indicating a 55.5% fall from the previous-year quarter’s reported figure. The estimate has been unchanged over the past 30 days.
Earnings of ADI surpassed estimates in two of the trailing four quarters, while missing the same once and matching it on another occasion, the average being 0.6%.
Analog Devices is likely to have benefited from solid momentum across the automotive end market.
Strength across the electric vehicle space on the back of the company’s robust Battery Management System solutions is anticipated to have been a positive. The solid momentum of the HEV platform across the cabin electronics ecosystem, and increasing demand for connectivity and power solutions are likely to have contributed well.
However, challenging market conditions are expected to have been concerning.
The Zacks Consensus Estimate for automotive revenues is pegged at $653 million, indicating a decline of 16.8% from the year-ago quarter’s reported figure.
However, a weak demand environment in the consumer end market is likely to have impacted the company’s quarterly performance negatively.
The Zacks Consensus Estimate for consumer revenues is pegged at $232 million, indicating a decline of 17.1% from the year-ago quarter’s actual.
Broad-based inventory correction is likely to have continued hurting Analog Devices’ performance in the industrial market in the to-be-reported quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $966 million, indicating a fall of 44.6% from the year-ago quarter’s reported number.
A slowdown in global 5G investments is likely to have affected Analog Devices’ prospects in the communications end market.
The Zacks Consensus Estimate for communications revenues is pegged at $254 million, indicating a fall of 44.1% from the year-ago quarter’s actual.
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 currently has an Earnings ESP of -0.21%. You can uncover the best stocks to buy or sell before they are 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.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09.
Abercrombie & Fitch (ANF - Free Report) has an Earnings ESP of +2.87% and a Zacks Rank #2 at present.
Abercrombie & Fitch is set to report first-quarter 2024 results on May 29. The Zacks Consensus Estimate for ANF’s earnings is pegged at $1.54 per share, indicating a significant jump from the year-ago quarter’s reported figure of 39 cents.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.42% and a Zacks Rank #3 at present.
Agilent Technologies is set to report its second-quarter fiscal 2024 results on May 29. The Zacks Consensus Estimate for A’s earnings is pegged at $1.19 per share.
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What's in the Offing for Analog Devices (ADI) in Q2 Earnings?
Analog Devices, Inc. (ADI - Free Report) is scheduled to report second-quarter fiscal 2024 results on May 22.
For the fiscal second quarter, ADI expects revenues of $2.10 billion (+/- $100 million). The Zacks Consensus Estimate for ADI’s revenues is pegged at $2.10 billion, indicating a decline of 35.5% from the year-ago quarter’s reported figure.
Analog Devices anticipates adjusted earnings per share of $1.26 (+/- $0.10). The consensus mark for fiscal second-quarter earnings is pinned at $1.26 per share, indicating a 55.5% fall from the previous-year quarter’s reported figure. The estimate has been unchanged over the past 30 days.
Earnings of ADI surpassed estimates in two of the trailing four quarters, while missing the same once and matching it on another occasion, the average being 0.6%.
Analog Devices, Inc. Price and EPS Surprise
Analog Devices, Inc. price-eps-surprise | Analog Devices, Inc. Quote
Factors to Consider
Analog Devices is likely to have benefited from solid momentum across the automotive end market.
Strength across the electric vehicle space on the back of the company’s robust Battery Management System solutions is anticipated to have been a positive. The solid momentum of the HEV platform across the cabin electronics ecosystem, and increasing demand for connectivity and power solutions are likely to have contributed well.
However, challenging market conditions are expected to have been concerning.
The Zacks Consensus Estimate for automotive revenues is pegged at $653 million, indicating a decline of 16.8% from the year-ago quarter’s reported figure.
However, a weak demand environment in the consumer end market is likely to have impacted the company’s quarterly performance negatively.
The Zacks Consensus Estimate for consumer revenues is pegged at $232 million, indicating a decline of 17.1% from the year-ago quarter’s actual.
Broad-based inventory correction is likely to have continued hurting Analog Devices’ performance in the industrial market in the to-be-reported quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $966 million, indicating a fall of 44.6% from the year-ago quarter’s reported number.
A slowdown in global 5G investments is likely to have affected Analog Devices’ prospects in the communications end market.
The Zacks Consensus Estimate for communications revenues is pegged at $254 million, indicating a fall of 44.1% from the year-ago quarter’s actual.
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 currently has an Earnings ESP of -0.21%. You can uncover the best stocks to buy or sell before they are 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.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +3.62% and flaunts a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09.
Abercrombie & Fitch (ANF - Free Report) has an Earnings ESP of +2.87% and a Zacks Rank #2 at present.
Abercrombie & Fitch is set to report first-quarter 2024 results on May 29. The Zacks Consensus Estimate for ANF’s earnings is pegged at $1.54 per share, indicating a significant jump from the year-ago quarter’s reported figure of 39 cents.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.42% and a Zacks Rank #3 at present.
Agilent Technologies is set to report its second-quarter fiscal 2024 results on May 29. The Zacks Consensus Estimate for A’s earnings is pegged at $1.19 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.