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The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 40.5%.
Let’s see how things have shaped up for Axon this earnings season.
Factors to Note
Axon’s TASER segment’s second-quarter performance is expected to have benefited from the strong demand for TASER devices and higher cartridge revenues. Also, the segmental performance is likely to have reflected strong sales from the stable demand for virtual reality training services. The Zacks Consensus Estimate for the TASER segment’s revenues is pegged at $180.7 million, which indicates an increase of 17% from the year-ago reported number.
The Software & Sensors segment’s results are expected to reflect higher revenues supported by the addition of new users and associated devices to the AXON network. Strong momentum in Axon Evidence and cloud services, driven by an increase in the aggregate number of users, average revenue per user and software add-ons, is also likely to have driven the segmental revenues.
Strong customer response for the newly launched next-generation body-worn camera, Axon Body 4, is also expected to have driven the segment’s performance. The Zacks Consensus Estimate for the Software & Sensors segment’s net sales is pegged at $296.4 million, indicating a 34.6% jump from the year-ago reported number.
The acquisition of Sky-Hero (July 2023), which expanded the company’s Axon Air portfolio, is expected to bolster AXON’s top-line results. The consensus estimate for the company’s revenues is pegged at $477 million, indicating an increase of 27.3% from the year-ago quarter’s figure.
However, the escalating cost of sales, due to raw material cost inflation, is likely to weigh on AXON’s bottom line. The consensus estimate for the company’s adjusted earnings is pinned at $1.06 per share, indicating a 4.5% decrease from the year-ago quarter’s reported number.
The company’s international presence exposes it to the risk of adverse currency fluctuations, which are likely to have hurt its performance.
Our proven model does not conclusively predict an earnings beat for AXON 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 not the case here, as elaborated below.
Earnings ESP: AXON has an Earnings ESP of -4.16% as the Most Accurate Estimate is pegged at $1.02 per share, which is lower than the Zacks Consensus Estimate of $1.06. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: AXON presently carries a Zacks Rank of 3.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
The company is scheduled to release second-quarter results on Aug 6. Atkore’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 15.4%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.14% and a Zacks Rank of 2. The company is slated to release the third quarter of fiscal 2024 (ending September 2024) results on Aug 7.
Emerson’s earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average surprise being 10.7%.
Mueller Water Products, Inc. (MWA - Free Report) has an Earnings ESP of +1.67% and a Zacks Rank of 1 at present. It is slated to release third-quarter fiscal 2024 (ending September 2024) results on Aug 5.
Mueller Water’s earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average surprise being 51.8%.
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AXON Gears Up to Report Q2 Earnings: What's in the Cards?
Axon Enterprise, Inc. (AXON - Free Report) is scheduled to release second-quarter 2024 results on Aug 6, after market close.
The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 40.5%.
Let’s see how things have shaped up for Axon this earnings season.
Factors to Note
Axon’s TASER segment’s second-quarter performance is expected to have benefited from the strong demand for TASER devices and higher cartridge revenues. Also, the segmental performance is likely to have reflected strong sales from the stable demand for virtual reality training services. The Zacks Consensus Estimate for the TASER segment’s revenues is pegged at $180.7 million, which indicates an increase of 17% from the year-ago reported number.
The Software & Sensors segment’s results are expected to reflect higher revenues supported by the addition of new users and associated devices to the AXON network. Strong momentum in Axon Evidence and cloud services, driven by an increase in the aggregate number of users, average revenue per user and software add-ons, is also likely to have driven the segmental revenues.
Strong customer response for the newly launched next-generation body-worn camera, Axon Body 4, is also expected to have driven the segment’s performance. The Zacks Consensus Estimate for the Software & Sensors segment’s net sales is pegged at $296.4 million, indicating a 34.6% jump from the year-ago reported number.
The acquisition of Sky-Hero (July 2023), which expanded the company’s Axon Air portfolio, is expected to bolster AXON’s top-line results. The consensus estimate for the company’s revenues is pegged at $477 million, indicating an increase of 27.3% from the year-ago quarter’s figure.
However, the escalating cost of sales, due to raw material cost inflation, is likely to weigh on AXON’s bottom line. The consensus estimate for the company’s adjusted earnings is pinned at $1.06 per share, indicating a 4.5% decrease from the year-ago quarter’s reported number.
The company’s international presence exposes it to the risk of adverse currency fluctuations, which are likely to have hurt its performance.
Axon Enterprise, Inc Price and EPS Surprise
Axon Enterprise, Inc price-eps-surprise | Axon Enterprise, Inc Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for AXON 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 not the case here, as elaborated below.
Earnings ESP: AXON has an Earnings ESP of -4.16% as the Most Accurate Estimate is pegged at $1.02 per share, which is lower than the Zacks Consensus Estimate of $1.06. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: AXON presently carries a Zacks Rank of 3.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
Atkore Inc. (ATKR - Free Report) has an Earnings ESP of + 0.62% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release second-quarter results on Aug 6. Atkore’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 15.4%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.14% and a Zacks Rank of 2. The company is slated to release the third quarter of fiscal 2024 (ending September 2024) results on Aug 7.
Emerson’s earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average surprise being 10.7%.
Mueller Water Products, Inc. (MWA - Free Report) has an Earnings ESP of +1.67% and a Zacks Rank of 1 at present. It is slated to release third-quarter fiscal 2024 (ending September 2024) results on Aug 5.
Mueller Water’s earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average surprise being 51.8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.