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Analog Devices (ADI) to Post Q3 Earnings: What's in the Cards?
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Analog Devices, Inc. (ADI - Free Report) is scheduled to report third-quarter fiscal 2023 results on Aug 23.
For the fiscal third quarter, ADI expects revenues of $3.10 billion (+/- $100 million). The Zacks Consensus Estimate for the same is pegged at $3.09 billion, indicating a decline of 0.5% from the year-ago reported figure.
Analog Devices anticipates adjusted earnings per share of $2.52 (+/- $0.10) for the quarter under review. The consensus mark for the same is pegged at $2.53 per share, indicating a 0.4% rise from the previous year’s reported figure.
Earnings of ADI surpassed estimates in the trailing four quarters, the average being 4.65%.
Strength across industrial and automotive end markets are expected to have driven the top line of Analog Devices in the fiscal third quarter.
The solid momentum of Analog Devices’ precision signal chain, power franchises, sensing technologies, and wired and wireless connectivity among factory automation applications is expected to have contributed well to its industrial revenues in the quarter under review.
The company’s power management and RF portfolios are likely to have aided growth across instrumentation and test applications. The upside, in turn, is expected to have driven industrial revenues.
The Zacks Consensus Estimate for industrial revenues is pegged at $1.66 billion, indicating growth of 6.4% from the year-ago fiscal quarter.
The rising uptake of the Battery Management System solution in the electric vehicle space is likely to have been a tailwind. The growing traction across A2B solutions is likely to have driven Analog Devices’ performance in the automotive market in the fiscal third quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $738 million, indicating growth of 12% from the year-ago fiscal quarter.
This apart, the growing deployment of 5G is expected to have continued benefiting the company’s performance in the communication end-market.
However, ongoing inventory corrections are expected to have hurt the company’s prospects in this market. The consensus mark for communication revenues is pinned at $414 million, reflecting a decline of 15.7% year over year.
Strength in home entertainment, hearables and wearables is expected to have aided ADI’s performance in the consumer market in the to-be-reported quarter. However, inventory corrections are expected to have been a headwind for Analog Devices in the consumer market.
The consensus mark for communication revenues is pegged at $292 million, reflecting a decline of 27.9% year over year.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Analog Devices 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.
Analog Devices currently has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
ADI carries a Zacks Rank #3.
Stocks to Consider
Here are some stocks that you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
American Eagle Outfitters is scheduled to release second-quarter fiscal 2023 results on Sep 6. The Zacks Consensus Estimate for AEO’s earnings is pegged at 15 cents per share, which indicates a significant jump from 4 cents per share reported in the year-ago quarter.
American Woodmark (AMWD - Free Report) has an Earnings ESP of +8.43% and currently carries a Zacks Rank #2.
American Woodmark is set to report first-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AMWD’s earnings is pinned at $2.20 per share, indicating a growth of 28.6% from the prior-year quarter.
Bank of Montreal (BMO - Free Report) has an Earnings ESP of +1.91% and a Zacks Rank #3 at present.
Bank of Montreal is scheduled to report third-quarter fiscal 2023 results on Aug 29. The Zacks Consensus Estimate for BMO’s earnings is pegged at $2.27 per share.
Image: Bigstock
Analog Devices (ADI) to Post Q3 Earnings: What's in the Cards?
Analog Devices, Inc. (ADI - Free Report) is scheduled to report third-quarter fiscal 2023 results on Aug 23.
For the fiscal third quarter, ADI expects revenues of $3.10 billion (+/- $100 million). The Zacks Consensus Estimate for the same is pegged at $3.09 billion, indicating a decline of 0.5% from the year-ago reported figure.
Analog Devices anticipates adjusted earnings per share of $2.52 (+/- $0.10) for the quarter under review. The consensus mark for the same is pegged at $2.53 per share, indicating a 0.4% rise from the previous year’s reported figure.
Earnings of ADI surpassed estimates in the trailing four quarters, the average being 4.65%.
Analog Devices, Inc. Price and EPS Surprise
Analog Devices, Inc. price-eps-surprise | Analog Devices, Inc. Quote
Factors to Consider
Strength across industrial and automotive end markets are expected to have driven the top line of Analog Devices in the fiscal third quarter.
The solid momentum of Analog Devices’ precision signal chain, power franchises, sensing technologies, and wired and wireless connectivity among factory automation applications is expected to have contributed well to its industrial revenues in the quarter under review.
The company’s power management and RF portfolios are likely to have aided growth across instrumentation and test applications. The upside, in turn, is expected to have driven industrial revenues.
The Zacks Consensus Estimate for industrial revenues is pegged at $1.66 billion, indicating growth of 6.4% from the year-ago fiscal quarter.
The rising uptake of the Battery Management System solution in the electric vehicle space is likely to have been a tailwind. The growing traction across A2B solutions is likely to have driven Analog Devices’ performance in the automotive market in the fiscal third quarter.
The Zacks Consensus Estimate for industrial revenues is pegged at $738 million, indicating growth of 12% from the year-ago fiscal quarter.
This apart, the growing deployment of 5G is expected to have continued benefiting the company’s performance in the communication end-market.
However, ongoing inventory corrections are expected to have hurt the company’s prospects in this market. The consensus mark for communication revenues is pinned at $414 million, reflecting a decline of 15.7% year over year.
Strength in home entertainment, hearables and wearables is expected to have aided ADI’s performance in the consumer market in the to-be-reported quarter. However, inventory corrections are expected to have been a headwind for Analog Devices in the consumer market.
The consensus mark for communication revenues is pegged at $292 million, reflecting a decline of 27.9% year over year.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Analog Devices 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.
Analog Devices currently has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
ADI carries a Zacks Rank #3.
Stocks to Consider
Here are some stocks that you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
American Eagle Outfitters (AEO - Free Report) has an Earnings ESP of +8.52% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters is scheduled to release second-quarter fiscal 2023 results on Sep 6. The Zacks Consensus Estimate for AEO’s earnings is pegged at 15 cents per share, which indicates a significant jump from 4 cents per share reported in the year-ago quarter.
American Woodmark (AMWD - Free Report) has an Earnings ESP of +8.43% and currently carries a Zacks Rank #2.
American Woodmark is set to report first-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AMWD’s earnings is pinned at $2.20 per share, indicating a growth of 28.6% from the prior-year quarter.
Bank of Montreal (BMO - Free Report) has an Earnings ESP of +1.91% and a Zacks Rank #3 at present.
Bank of Montreal is scheduled to report third-quarter fiscal 2023 results on Aug 29. The Zacks Consensus Estimate for BMO’s earnings is pegged at $2.27 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.