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On Holding (ONON) Gears Up for Q1 Earnings: What's in Store?
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On Holding AG (ONON - Free Report) is scheduled to report first-quarter 2023 results on May 16, before the opening bell. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 80%.
Q1 Estimates
The Zacks Consensus Estimate for the bottom line is pegged at 9 cents per share, up 80% year over year. The consensus mark for revenues is pegged at $411.4 million, suggesting a surge of 61.2% year over year.
Factors to Note
ONON’s first-quarter performance is likely to have benefited from increases in sales in North America, Europe, Asia-Pacific and Rest of World. Robust DTC and wholesale sales are likely to have driven the top line. The company is also benefiting from strong products pipeline, multi-channel success and normalization of product supply.
However, higher cost of sales might hurt ONON’s margin in the quarter under review.
Our proven model predicts an earnings beat for On Holding 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, which is the case here.
Earnings ESP: Earnings ESP for On Holding is +6.38%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: On Holding currently has a Zacks Rank #3.
Stocks Worth a Look
Here are some stocks that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this season.
Chuy's Holdings, Inc. has an Earnings ESP of +7.69% and a Zacks Rank #2.
Shares of Chuy's Holdings have declined 12.4% so far this year. CHUY’s earnings beat the consensus mark in each of the trailing four quarters, the average surprise being 23.4%.
DISH Network Corporation has an Earnings ESP of +21.55% and a Zacks Rank #3.
Shares of DISH Network have declined 58.4% in the past year. DISH’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 63.4%.
Shares of Playa Hotels & Resorts have increased 0.8% in the past year. PLYA’s earnings beat estimates in each of the trailing four quarters, the average surprise being 419.4%.
Image: Bigstock
On Holding (ONON) Gears Up for Q1 Earnings: What's in Store?
On Holding AG (ONON - Free Report) is scheduled to report first-quarter 2023 results on May 16, before the opening bell. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 80%.
Q1 Estimates
The Zacks Consensus Estimate for the bottom line is pegged at 9 cents per share, up 80% year over year. The consensus mark for revenues is pegged at $411.4 million, suggesting a surge of 61.2% year over year.
Factors to Note
ONON’s first-quarter performance is likely to have benefited from increases in sales in North America, Europe, Asia-Pacific and Rest of World. Robust DTC and wholesale sales are likely to have driven the top line. The company is also benefiting from strong products pipeline, multi-channel success and normalization of product supply.
However, higher cost of sales might hurt ONON’s margin in the quarter under review.
On Holding AG Price and EPS Surprise
On Holding AG price-eps-surprise | On Holding AG Quote
What Our Model Indicates
Our proven model predicts an earnings beat for On Holding 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, which is the case here.
Earnings ESP: Earnings ESP for On Holding is +6.38%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: On Holding currently has a Zacks Rank #3.
Stocks Worth a Look
Here are some stocks that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this season.
Chuy's Holdings, Inc. has an Earnings ESP of +7.69% and a Zacks Rank #2.
Shares of Chuy's Holdings have declined 12.4% so far this year. CHUY’s earnings beat the consensus mark in each of the trailing four quarters, the average surprise being 23.4%.
DISH Network Corporation has an Earnings ESP of +21.55% and a Zacks Rank #3.
Shares of DISH Network have declined 58.4% in the past year. DISH’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 63.4%.
Playa Hotels & Resorts N.V. (PLYA - Free Report) has an Earnings ESP of +40.22% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Playa Hotels & Resorts have increased 0.8% in the past year. PLYA’s earnings beat estimates in each of the trailing four quarters, the average surprise being 419.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.