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What's in Store for Western Digital (WDC) in Q4 Earnings
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Western Digital Corporation (WDC - Free Report) is scheduled to report fiscal fourth-quarter 2024 results on Jul 31.
For the to-be-reported quarter, management projects non-GAAP earnings per share in the range of 90 cents to $1.20. The Zacks Consensus Estimate is pegged at earnings of $1.26 per share. WDC reported a loss per share of $1.98 in the prior-year quarter.
Western Digital expects non-GAAP revenues in the range of $3.6-$3.8 billion. The consensus estimate is currently pegged at $3.77 billion, indicating an increase of 41.1% from the prior-year quarter’s figure.
The company surpassed the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of 61.6%, on average. In the past year, shares have gained 60.4% compared with the industry’s growth of 67.8%.
Image Source: Zacks Investment Research
Factors to Note
Western Digital’s fiscal fourth-quarter performance is likely to have benefited from solid momentum in HDD driven by increasing demand for SMR portfolio. In the last reported quarter, the company noted that SMR-based drives represented 50% of nearline exabyte shipments.
Also, the company expects flash revenues to improve sequentially as it is focused on optimizing bit shipments and ASP. Improving demand for SSD solutions is likely to have acted as a tailwind.
The Zacks Consensus Estimate for fiscal fourth-quarter HDD revenues is pegged at $1.829 billion. The Zacks Consensus Estimate for Flash revenues is pegged at $1.875 billion for the same.
Looking at end markets, the Cloud segment is likely to have gained from higher nearline shipments and increased nearline per unit pricing. Momentum in demand for SanDisk premium brand is likely to have cushioned revenues from the Consumer segment. The Client segment is likely to have gained from increased bit demand for flash-based solutions along with an increase in ASP.
However, prevailing global macroeconomic uncertainties and increasing expenses remain concerning.
Western Digital Corporation Price and EPS Surprise
Our proven model predicts an earnings beat for Western Digital 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.
Western Digital has an Earnings ESP of +31.75% and presently sports a Zacks Rank #1. 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 a few other stocks that you may want to consider as our model shows that these, too, have the right combination of elements to post an earnings beat in the to-be-reported quarter.
AAPL is scheduled to report quarterly earnings on Aug 1. The Zacks Consensus Estimate for AAPL’s to-be-reported quarter’s EPS and revenues is pegged at $1.34 and $84.02 billion, respectively. Shares of AAPL have gained 11% in the past year.
Marriott International, Inc (MAR - Free Report) has an Earnings ESP of +6.24% and currently carries a Zacks Rank #2. MAR is scheduled to report quarterly earnings on Jul 31.
The Zacks Consensus Estimate for MAR’s to-be-reported quarter’s EPS and revenues is pegged at $2.49 and $6.44 billion, respectively. Shares of MAR have gained 17.2% in the past year.
Kinross Gold Corporation (KGC - Free Report) has an Earnings ESP of +8.04% and a Zacks Rank #2 at present. KGC is set to report quarterly figures on Jul 31.
The Zacks Consensus Estimate for KGC’s to-be-reported quarter’s EPS and revenues is pegged at 13 cents and $1.02 billion, respectively. Shares of KGC have surged 72.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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What's in Store for Western Digital (WDC) in Q4 Earnings
Western Digital Corporation (WDC - Free Report) is scheduled to report fiscal fourth-quarter 2024 results on Jul 31.
For the to-be-reported quarter, management projects non-GAAP earnings per share in the range of 90 cents to $1.20. The Zacks Consensus Estimate is pegged at earnings of $1.26 per share. WDC reported a loss per share of $1.98 in the prior-year quarter.
Western Digital expects non-GAAP revenues in the range of $3.6-$3.8 billion. The consensus estimate is currently pegged at $3.77 billion, indicating an increase of 41.1% from the prior-year quarter’s figure.
The company surpassed the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of 61.6%, on average. In the past year, shares have gained 60.4% compared with the industry’s growth of 67.8%.
Image Source: Zacks Investment Research
Factors to Note
Western Digital’s fiscal fourth-quarter performance is likely to have benefited from solid momentum in HDD driven by increasing demand for SMR portfolio. In the last reported quarter, the company noted that SMR-based drives represented 50% of nearline exabyte shipments.
Also, the company expects flash revenues to improve sequentially as it is focused on optimizing bit shipments and ASP. Improving demand for SSD solutions is likely to have acted as a tailwind.
The Zacks Consensus Estimate for fiscal fourth-quarter HDD revenues is pegged at $1.829 billion. The Zacks Consensus Estimate for Flash revenues is pegged at $1.875 billion for the same.
Looking at end markets, the Cloud segment is likely to have gained from higher nearline shipments and increased nearline per unit pricing. Momentum in demand for SanDisk premium brand is likely to have cushioned revenues from the Consumer segment. The Client segment is likely to have gained from increased bit demand for flash-based solutions along with an increase in ASP.
However, prevailing global macroeconomic uncertainties and increasing expenses remain concerning.
Western Digital Corporation Price and EPS Surprise
Western Digital Corporation price-eps-surprise | Western Digital Corporation Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Western Digital 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.
Western Digital has an Earnings ESP of +31.75% and presently sports a Zacks Rank #1. 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 a few other stocks that you may want to consider as our model shows that these, too, have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Apple (AAPL - Free Report) has an Earnings ESP of +3.05% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
AAPL is scheduled to report quarterly earnings on Aug 1. The Zacks Consensus Estimate for AAPL’s to-be-reported quarter’s EPS and revenues is pegged at $1.34 and $84.02 billion, respectively. Shares of AAPL have gained 11% in the past year.
Marriott International, Inc (MAR - Free Report) has an Earnings ESP of +6.24% and currently carries a Zacks Rank #2. MAR is scheduled to report quarterly earnings on Jul 31.
The Zacks Consensus Estimate for MAR’s to-be-reported quarter’s EPS and revenues is pegged at $2.49 and $6.44 billion, respectively. Shares of MAR have gained 17.2% in the past year.
Kinross Gold Corporation (KGC - Free Report) has an Earnings ESP of +8.04% and a Zacks Rank #2 at present. KGC is set to report quarterly figures on Jul 31.
The Zacks Consensus Estimate for KGC’s to-be-reported quarter’s EPS and revenues is pegged at 13 cents and $1.02 billion, respectively. Shares of KGC have surged 72.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.