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Engineering Stocks Earnings Reports on Nov 3: FLR, PWR, WLDN
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The Q3 earnings season is in full swing, with results from 332 of the S&P 500 Index members already on board (as on Nov 1). Earnings of these companies (accounting for 74.1% of the index’s total market capitalization) are up 1.9% year over year, on 1.3% higher revenues.
After five consecutive quarters of earnings declines for the S&P 500 index, we are finally seeing a marginally positive overall growth trend for the index. On the whole, our latest data projects that the earnings for S&P 500 companies are now on track to grow 2.1% from the year-ago period on 1.4% higher revenues. This is comparable to a decline of 2.9%, expected a few weeks ago. (For more details, read our latest Earnings Outlook article).
Further, the encouraging growth angle is being supplemented by a strong number of positive surprises as well. In fact, 72.9% of the companies, which have reported results, have surpassed earnings estimates, with 55.4% coming ahead of revenue estimates. If this trend continues, it will likely paint an impressive growth picture for the times to come.
The industrial products sector is one of the sectors expected to chart positive earnings growth this quarter. Its earnings are on track to grow 5.9% in the quarter, on 0.7% lower sales compared with the last year (as on Oct 28).
Let’s have a look at how some engineering companies within the sector, like Fluor Corporation (FLR - Free Report) , Quanta Services Inc. (PWR - Free Report) and Willdan Group, Inc. (WLDN - Free Report) are poised, ahead of their scheduled announcements on Nov 3.
Fluor Corporation: Fluor offers engineering, procurement, construction and maintenance services through a number of subsidiaries. The company also provides its operations and maintenance services to major industrial clients.
Fluor has had a choppy earnings surprise history, with three earnings misses over the four trailing quarters, for an average negative earnings surprise of 9.6%. Last quarter, it had lagged estimates by 17.2%. (Read More: Fluor Q3 Earnings: What's in Store for the Stock?)
Our proven model does not conclusively show that Fluor is likely to beat on earnings in the to-be-reported quarter. Fluor presently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The company’s unfavorable Zacks Rank and zero ESP make surprise prediction inconclusive. The Zacks Consensus Estimate for the quarter is pegged at 87 cents.
Note that we caution against stocks with Zacks Rank #4 or #5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Quanta Services: This company is a leading national provider of specialty contracting services and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers’ evolving needs.
Quanta Services’ earnings history is a mixed bag. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in the other two, for an average negative surprise of 13.4%. In the last reported quarter, the company had missed earnings estimates by a massive 56.3%.(Read More: Quanta Services Q3 Earnings: Stock Poised to Beat?)
However, we believe that Quanta Services’ earnings will trump estimates this time around. This is because, according to our quantitative model, a company needs the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or at least 3 (Hold) – to increase its odds of an earnings surprise.
Quanta Services’ favorable Zacks Rank #2 and an Earnings ESP of +1.96% makes us confident of an earnings beat.The Zacks Consensus Estimate for the quarter is pegged at 51 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Willdan Group: This company is a leading single resource provider of specialized outsourced services to small and mid-sized public agencies located primarily in California and other western states.
Willdan Group has had a volatile earnings history over the trailing four quarters, with two significant beats for as many misses, for an average negative surprise of 4.6%. In the last reported quarter, the company had delivered a massive positive earnings surprise of 60.9%.
Our proven model does not conclusively show that Willdan Group is likely to beat on earnings in the quarter. The company has an Earnings ESP of 0.00% and a Zacks Rank #4. The Zacks Consensus Estimate for the quarter is pegged at 20 cents. The company’s unfavorable Zacks Rank and zero ESP make surprise prediction inconclusive.
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
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Engineering Stocks Earnings Reports on Nov 3: FLR, PWR, WLDN
The Q3 earnings season is in full swing, with results from 332 of the S&P 500 Index members already on board (as on Nov 1). Earnings of these companies (accounting for 74.1% of the index’s total market capitalization) are up 1.9% year over year, on 1.3% higher revenues.
After five consecutive quarters of earnings declines for the S&P 500 index, we are finally seeing a marginally positive overall growth trend for the index. On the whole, our latest data projects that the earnings for S&P 500 companies are now on track to grow 2.1% from the year-ago period on 1.4% higher revenues. This is comparable to a decline of 2.9%, expected a few weeks ago. (For more details, read our latest Earnings Outlook article).
Further, the encouraging growth angle is being supplemented by a strong number of positive surprises as well. In fact, 72.9% of the companies, which have reported results, have surpassed earnings estimates, with 55.4% coming ahead of revenue estimates. If this trend continues, it will likely paint an impressive growth picture for the times to come.
The industrial products sector is one of the sectors expected to chart positive earnings growth this quarter. Its earnings are on track to grow 5.9% in the quarter, on 0.7% lower sales compared with the last year (as on Oct 28).
Let’s have a look at how some engineering companies within the sector, like Fluor Corporation (FLR - Free Report) , Quanta Services Inc. (PWR - Free Report) and Willdan Group, Inc. (WLDN - Free Report) are poised, ahead of their scheduled announcements on Nov 3.
Fluor Corporation: Fluor offers engineering, procurement, construction and maintenance services through a number of subsidiaries. The company also provides its operations and maintenance services to major industrial clients.
Fluor has had a choppy earnings surprise history, with three earnings misses over the four trailing quarters, for an average negative earnings surprise of 9.6%. Last quarter, it had lagged estimates by 17.2%. (Read More: Fluor Q3 Earnings: What's in Store for the Stock?)
Our proven model does not conclusively show that Fluor is likely to beat on earnings in the to-be-reported quarter. Fluor presently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The company’s unfavorable Zacks Rank and zero ESP make surprise prediction inconclusive. The Zacks Consensus Estimate for the quarter is pegged at 87 cents.
Note that we caution against stocks with Zacks Rank #4 or #5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
FLUOR CORP-NEW Price, Consensus and EPS Surprise
FLUOR CORP-NEW Price, Consensus and EPS Surprise | FLUOR CORP-NEW Quote
Quanta Services: This company is a leading national provider of specialty contracting services and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers’ evolving needs.
Quanta Services’ earnings history is a mixed bag. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in the other two, for an average negative surprise of 13.4%. In the last reported quarter, the company had missed earnings estimates by a massive 56.3%.(Read More: Quanta Services Q3 Earnings: Stock Poised to Beat?)
However, we believe that Quanta Services’ earnings will trump estimates this time around. This is because, according to our quantitative model, a company needs the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or at least 3 (Hold) – to increase its odds of an earnings surprise.
Quanta Services’ favorable Zacks Rank #2 and an Earnings ESP of +1.96% makes us confident of an earnings beat.The Zacks Consensus Estimate for the quarter is pegged at 51 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
QUANTA SERVICES Price, Consensus and EPS Surprise
QUANTA SERVICES Price, Consensus and EPS Surprise | QUANTA SERVICES Quote
Willdan Group: This company is a leading single resource provider of specialized outsourced services to small and mid-sized public agencies located primarily in California and other western states.
Willdan Group has had a volatile earnings history over the trailing four quarters, with two significant beats for as many misses, for an average negative surprise of 4.6%. In the last reported quarter, the company had delivered a massive positive earnings surprise of 60.9%.
Our proven model does not conclusively show that Willdan Group is likely to beat on earnings in the quarter. The company has an Earnings ESP of 0.00% and a Zacks Rank #4. The Zacks Consensus Estimate for the quarter is pegged at 20 cents. The company’s unfavorable Zacks Rank and zero ESP make surprise prediction inconclusive.
You can see the complete list of today’s Zacks #1 Rank stocks here.
WILLDAN GROUP Price, Consensus and EPS Surprise
WILLDAN GROUP Price, Consensus and EPS Surprise | WILLDAN GROUP Quote
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>