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Hut 8 Set to Report Q3 Earnings: What's in Store for the Stock?

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Key Takeaways

  • Hut 8 reports Q3 results on Nov. 4, with revenues expected to decline 9.1% to $75.9 million.
  • Strong mining activity may support HUT's revenues, but higher costs and interest expenses could hurt profits.
  • HUT has an Earnings ESP of 24.67%, while its consensus loss estimate has improved to $1.06 per share.

Hut 8 Corp. (HUT - Free Report) is slated to release third-quarter 2026 results on Nov. 4, before market open. The company’s quarterly results are likely to display a decrease in both revenues and earnings per share.

In the last reported quarter, Hut 8 showed strong operating growth but weak GAAP profitability. The revenue mix was highly concentrated in Compute, which remained the primary operating contributor ahead of the planned data center lease ramp-up in 2027. 

Over the trailing four quarters, the company’s EPS surpassed the Zacks Consensus Estimate on each occasion. This is depicted in the graph below:

Hut 8 Corp. Price and EPS Surprise

Hut 8 Corp. Price and EPS Surprise

Hut 8 Corp. price-eps-surprise | Hut 8 Corp. Quote

Key Factors to Watch Ahead of HUT’s Q3 Results

Hut 8 is approaching its third-quarter 2026 earnings release with attention on bitcoin-mining operations and infrastructure development. Second-quarter revenues surged 81% year over year to $74.9 million, reflecting stronger mining activity. This momentum is expected to have continued into the September quarter.
 
The Compute segment is likely to have remained the primary revenue driver. Mining operations at Vega and Drumheller are expected to have supported production throughout the quarter. However, mining costs may have affected profitability. 

Hut 8's AI data-center projects at River Bend and Beacon Point are likely to have witnessed construction progress. However, these projects are not expected to have contributed meaningful lease revenues during the quarter, as initial deliveries are scheduled for 2027 and beyond. 

On the expense front, development-related investments and interest expenses associated with $7.5 billion in project financing may have weighed on profitability. The Power segment is likely to have faced year-over-year revenue pressure following the Far North asset divestiture. Steady mining activity may have supported results despite elevated expenses. 

The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $75.90 million, indicating a 9.1% year-over-year decrease. The company’s activities in the to-be-reported quarter were adequate to garner analysts’ confidence. As a result, the consensus mark for loss per share has improved over the past 30 days to $1.06.

Here Is What Our Quantitative Model Predicts for HUT

Our proven model predicts an earnings beat for Hut 8 this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here. 

HUT has an Earnings ESP of +24.67% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Other Stocks to Consider

Here are some other companies — Keel Infrastructure Corp. (KEEL - Free Report) and StoneCo Ltd. (STNE - Free Report) — worth considering, as our model shows that these also have the right combination of elements to beat on earnings in their upcoming releases.

Keel Infrastructure currently has an Earnings ESP of +69.70% and a Zacks Rank #3. Keel Infrastructure is scheduled to report third-quarter 2026 results on Nov. 5. You can see the complete list of today’s Zacks #1 Rank stocks here.

StoneCo currently has an Earnings ESP of +2.74% and a Zacks Rank #3. STNE is slated to report third-quarter 2026 results on Nov. 12.

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