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Defense Stocks' Q3 Earnings on Nov 3: HII, TDY, LDOS, TGI
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Last week, the Wall Street saw Q3 earnings releases from almost 90% of the defense biggies like Northrop Grumman Corp. (NOC - Free Report) , The Boeing Company (BA - Free Report) , L-3 Communications Holdings, Inc. , United Technologies Corporation and Pentagon’s largest defense contractor, Lockheed Martin Corp (LMT - Free Report) , to name a few. Notably, most of these corporations came up with an earnings beat this quarter.
As of Nov 1, 74.1% of the market cap of the S&P 500 index has reported quarterly results, putting up a 1.9% increase in earnings on 1.3% higher revenues. As of Oct 28, overall earnings were anticipated to record a 2% increase on a 1.4% revenue improvement, with four of the 16 Zacks sectors witnessing growth in the negative territory. The picture should become clearer by the end of this week after the scheduled earnings releases by a number of the index members.
In the Aerospace and Defense sector, 95.7% of the index’s market cap has reported quarterly results so far, with 77.8% beating on earnings and 55.6% exceeding revenue expectations. No doubt, such bullish releases raise hopes of a much better performance for the sector, as we move into the second half of the Q3 reporting cycle. In fact, projections are of an 18.4% surge in earnings despite 3.3% revenue deterioration. For more details on quarterly releases, you can go through our Earnings Preview report.
Let’s take a look at four defense companies – Huntington Ingalls Industries, Inc. (HII - Free Report) , Teledyne Technologies Inc. (TDY - Free Report) , Leidos Holdings, Inc. (LDOS - Free Report) and Triumph Group, Inc. (TGI - Free Report) – all scheduled to release quarterly results before the opening bell on Nov 3.
Huntington Ingalls posted a positive earnings surprise of 0.43% in the preceding quarter.
Our proven model shows that Huntington Ingalls is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen and Huntington Ingalls has the right mix. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
This Zacks Rank #3 stock has an Earnings ESP of +2.09% as the Most Accurate estimate stands at $2.44, while the Zacks Consensus Estimate is pegged slightly lower at $2.39. (Read more: Huntington Ingalls Q3 Earnings: A Beat in the Cards?)
However, the company has an Earnings ESP of 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at $1.30.
Leidos Holdings, another Zacks Rank #3 stock, posted a negative earnings surprise of 6.85% last quarter.
The company has an Earnings ESP of +8.42%. That is because the Most Accurate estimate is $1.03, while the Zacks Consensus Estimate is pegged lower at 95 cents.
Triumph Group, again with a Zacks Rank #3, has posted a negative earnings surprise of 7.93% last quarter.
The company has an Earnings ESP of +4.27%. That is because the Most Accurate estimate is $1.22, while the Zacks Consensus Estimate is pegged lower at $1.27.
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Defense Stocks' Q3 Earnings on Nov 3: HII, TDY, LDOS, TGI
Last week, the Wall Street saw Q3 earnings releases from almost 90% of the defense biggies like Northrop Grumman Corp. (NOC - Free Report) , The Boeing Company (BA - Free Report) , L-3 Communications Holdings, Inc. , United Technologies Corporation and Pentagon’s largest defense contractor, Lockheed Martin Corp (LMT - Free Report) , to name a few. Notably, most of these corporations came up with an earnings beat this quarter.
As of Nov 1, 74.1% of the market cap of the S&P 500 index has reported quarterly results, putting up a 1.9% increase in earnings on 1.3% higher revenues. As of Oct 28, overall earnings were anticipated to record a 2% increase on a 1.4% revenue improvement, with four of the 16 Zacks sectors witnessing growth in the negative territory. The picture should become clearer by the end of this week after the scheduled earnings releases by a number of the index members.
In the Aerospace and Defense sector, 95.7% of the index’s market cap has reported quarterly results so far, with 77.8% beating on earnings and 55.6% exceeding revenue expectations. No doubt, such bullish releases raise hopes of a much better performance for the sector, as we move into the second half of the Q3 reporting cycle. In fact, projections are of an 18.4% surge in earnings despite 3.3% revenue deterioration. For more details on quarterly releases, you can go through our Earnings Preview report.
Let’s take a look at four defense companies – Huntington Ingalls Industries, Inc. (HII - Free Report) , Teledyne Technologies Inc. (TDY - Free Report) , Leidos Holdings, Inc. (LDOS - Free Report) and Triumph Group, Inc. (TGI - Free Report) – all scheduled to release quarterly results before the opening bell on Nov 3.
Huntington Ingalls posted a positive earnings surprise of 0.43% in the preceding quarter.
Our proven model shows that Huntington Ingalls is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen and Huntington Ingalls has the right mix. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
This Zacks Rank #3 stock has an Earnings ESP of +2.09% as the Most Accurate estimate stands at $2.44, while the Zacks Consensus Estimate is pegged slightly lower at $2.39. (Read more: Huntington Ingalls Q3 Earnings: A Beat in the Cards?)
HUNTINGTON INGL Price and EPS Surprise
HUNTINGTON INGL Price and EPS Surprise | HUNTINGTON INGL Quote
Teledyne Technologies reported a positive earnings surprise of 5.60% in the prior quarter. It has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
However, the company has an Earnings ESP of 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at $1.30.
TELEDYNE TECH Price and EPS Surprise
TELEDYNE TECH Price and EPS Surprise | TELEDYNE TECH Quote
Leidos Holdings, another Zacks Rank #3 stock, posted a negative earnings surprise of 6.85% last quarter.
The company has an Earnings ESP of +8.42%. That is because the Most Accurate estimate is $1.03, while the Zacks Consensus Estimate is pegged lower at 95 cents.
LEIDOS HOLDINGS Price and EPS Surprise
LEIDOS HOLDINGS Price and EPS Surprise | LEIDOS HOLDINGS Quote
Triumph Group, again with a Zacks Rank #3, has posted a negative earnings surprise of 7.93% last quarter.
The company has an Earnings ESP of +4.27%. That is because the Most Accurate estimate is $1.22, while the Zacks Consensus Estimate is pegged lower at $1.27.
TRIUMPH GRP INC Price and EPS Surprise
TRIUMPH GRP INC Price and EPS Surprise | TRIUMPH GRP INC Quote
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