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Signet (SIG) Queued Up for Q2 Earnings: What's in the Cards?
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Signet Jewelers Limited (SIG - Free Report) is likely to register both top- and bottom-line declines from the last fiscal year’s respective quarterly numbers when it reports second-quarter fiscal 2023 earnings on Sep 1, before the opening bell. The Zacks Consensus Estimate for revenues is pegged at $1,752 million, indicating a dip of 1.9% from the prior fiscal-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has increased a penny in the past seven days to $2.54 per share, implying a decline of 28.9% from the prior fiscal-year quarter’s tally.
In the last reported fiscal quarter, Signet’s bottom line outperformed the Zacks Consensus Estimate by 24.9%. This renowned jewelry and accessories retailer has a trailing four-quarter earnings surprise of 65.5%, on average.
Key Aspects to Note
Signet’s performance in the fiscal second quarter is likely to have been hurt by a challenging macroeconomic landscape, including inflation and increased pressure on consumers' discretionary spending. In addition, the supply-chain disruptions and higher selling, general & administrative expenses might have acted as deterrents during the quarter under review. Recently, SIG issued updates and preliminary guidance for second-quarter fiscal 2023.
Management highlighted that it witnessed soft sales in July due to customers being heavily affected by inflation. Signet projected total revenues of $1.75 billion and an adjusted operating income of approximately $192 million. The updated view implies a decrease from $1.79 million of revenues and an adjusted operating income of $223 million reported in the year-ago fiscal quarter.
On the flip side, SIG’s Inspiring Brilliance strategy and connected-commerce capabilities are encouraging. Signet is focused on enhancing the online shopping experience through in-store consultations and services like the buy online pickup in-store and curbside options. Also, growth initiatives like unique banner value propositions and innovation efforts bode well.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Signet 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. But that’s not the case here as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Signet currently has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of 0.00%, making surprise prediction difficult.
Stocks With Favorable Combination
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this season:
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +24.88% and a Zacks Rank #3. CASY is expected to register a bottom-line increase from the prior-year fiscal quarter’s tally when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly earnings per share of $3.32 suggests an increase of 4.1% from the year-ago fiscal quarter’s level. You can see the complete list of today’s Zacks #1 Rank stocks here.
Casey's General’s top line is anticipated to have risen from the year-earlier fiscal quarter’s reading. The consensus mark for CASY’s revenues is pegged at $4.6 billion, indicating an increase of 44.4% from the figure reported in the year-ago quarter. Casey's General has a trailing four-quarter earnings surprise of 5.8%, on average.
Dave & Buster's Entertainment (PLAY - Free Report) currently has an Earnings ESP of +2.97% and a Zacks Rank of 3. PLAY is likely to register a decline in the bottom line from the last fiscal year’s quarterly reported number when it reports second-quarter fiscal 2022 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of $1.01 suggests a decline of 5.6% from the year-ago fiscal quarter’s tally.
Dave & Buster's Entertainment’s top line is expected to have increased from the year-ago fiscal quarter’s actuals. The Zacks Consensus Estimate for quarterly revenues is pegged at $432.3 million, indicating an increase of 14.5% from the figure reported in the prior-year fiscal quarter. PLAY has a trailing four-quarter earnings surprise of 41.1%, on average.
Campbell Soup Company (CPB - Free Report) currently has an Earnings ESP of +0.60% and a Zacks Rank #3. CPB is expected to register an increase in the bottom line from the last fiscal year’s reading when it reports fourth-quarter fiscal 2022 results. The Zacks Consensus Estimate for the quarterly earnings per share of 56 cents suggests an increase of 1.8% from the year-ago fiscal quarter’s actuals.
Campbell Soup’s top line is anticipated to have increased from the last fiscal year’s quarterly reported figure. The consensus mark for CPB’s revenues is pegged at $1.98 billion, indicating an increase of 5.5% from the figure reported in the year-ago fiscal quarter.
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Signet (SIG) Queued Up for Q2 Earnings: What's in the Cards?
Signet Jewelers Limited (SIG - Free Report) is likely to register both top- and bottom-line declines from the last fiscal year’s respective quarterly numbers when it reports second-quarter fiscal 2023 earnings on Sep 1, before the opening bell. The Zacks Consensus Estimate for revenues is pegged at $1,752 million, indicating a dip of 1.9% from the prior fiscal-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has increased a penny in the past seven days to $2.54 per share, implying a decline of 28.9% from the prior fiscal-year quarter’s tally.
In the last reported fiscal quarter, Signet’s bottom line outperformed the Zacks Consensus Estimate by 24.9%. This renowned jewelry and accessories retailer has a trailing four-quarter earnings surprise of 65.5%, on average.
Key Aspects to Note
Signet’s performance in the fiscal second quarter is likely to have been hurt by a challenging macroeconomic landscape, including inflation and increased pressure on consumers' discretionary spending. In addition, the supply-chain disruptions and higher selling, general & administrative expenses might have acted as deterrents during the quarter under review. Recently, SIG issued updates and preliminary guidance for second-quarter fiscal 2023.
Management highlighted that it witnessed soft sales in July due to customers being heavily affected by inflation. Signet projected total revenues of $1.75 billion and an adjusted operating income of approximately $192 million. The updated view implies a decrease from $1.79 million of revenues and an adjusted operating income of $223 million reported in the year-ago fiscal quarter.
On the flip side, SIG’s Inspiring Brilliance strategy and connected-commerce capabilities are encouraging. Signet is focused on enhancing the online shopping experience through in-store consultations and services like the buy online pickup in-store and curbside options. Also, growth initiatives like unique banner value propositions and innovation efforts bode well.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Signet 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. But that’s not the case here as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Signet currently has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of 0.00%, making surprise prediction difficult.
Stocks With Favorable Combination
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this season:
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +24.88% and a Zacks Rank #3. CASY is expected to register a bottom-line increase from the prior-year fiscal quarter’s tally when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly earnings per share of $3.32 suggests an increase of 4.1% from the year-ago fiscal quarter’s level. You can see the complete list of today’s Zacks #1 Rank stocks here.
Casey's General’s top line is anticipated to have risen from the year-earlier fiscal quarter’s reading. The consensus mark for CASY’s revenues is pegged at $4.6 billion, indicating an increase of 44.4% from the figure reported in the year-ago quarter. Casey's General has a trailing four-quarter earnings surprise of 5.8%, on average.
Dave & Buster's Entertainment (PLAY - Free Report) currently has an Earnings ESP of +2.97% and a Zacks Rank of 3. PLAY is likely to register a decline in the bottom line from the last fiscal year’s quarterly reported number when it reports second-quarter fiscal 2022 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of $1.01 suggests a decline of 5.6% from the year-ago fiscal quarter’s tally.
Dave & Buster's Entertainment’s top line is expected to have increased from the year-ago fiscal quarter’s actuals. The Zacks Consensus Estimate for quarterly revenues is pegged at $432.3 million, indicating an increase of 14.5% from the figure reported in the prior-year fiscal quarter. PLAY has a trailing four-quarter earnings surprise of 41.1%, on average.
Campbell Soup Company (CPB - Free Report) currently has an Earnings ESP of +0.60% and a Zacks Rank #3. CPB is expected to register an increase in the bottom line from the last fiscal year’s reading when it reports fourth-quarter fiscal 2022 results. The Zacks Consensus Estimate for the quarterly earnings per share of 56 cents suggests an increase of 1.8% from the year-ago fiscal quarter’s actuals.
Campbell Soup’s top line is anticipated to have increased from the last fiscal year’s quarterly reported figure. The consensus mark for CPB’s revenues is pegged at $1.98 billion, indicating an increase of 5.5% from the figure reported in the year-ago fiscal quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.