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ADI expects revenues of $2.27 billion (+/- $100 million). The Zacks Consensus Estimate is pegged at $2.27 billion, indicating a decline of 26.1% from the year-ago quarter’s figure.
Analog Devices anticipates adjusted earnings per share of $1.50 (+/- $0.10). The consensus mark for earnings is pinned at $1.50 per share, indicating a 39.8% fall from the prior-year quarter’s figure. The estimate has remained unchanged over the past 30 days.
ADI’s earnings surpassed estimates in two of the trailing four quarters, missed once and matched on the remaining occasion, the average surprise being 2.68%.
Let’s see how things have shaped up for the upcoming announcement.
Analog Devices’ fiscal third-quarter results are likely to have benefited from the solid momentum across the automotive end market, driven by the proliferation of higher-content vehicles.
Strength across the electric vehicle space on the back of the company’s robust Battery Management System solutions is anticipated to have been a positive.
However, challenging market conditions are expected to have been concerning.
The Zacks Consensus Estimate for automotive revenues is pegged at $682 million, indicating a decline of 7.6% from the year-ago quarter’s figure.
A weak demand environment in the consumer end market is likely to have negatively impacted the company’s performance.
The consensus estimate for consumer revenues is pegged at $269 million, indicating a decline of 7.9% from the year-ago quarter’s actual.
Sluggishness across the communications and industrial markets, due to the broad-based inventory corrections, is expected to have hurt the top line in the fiscal third quarter.
The Zacks Consensus Estimate for communications revenues is pegged at $247 million, indicating a fall of 40.3% from the year-ago quarter’s actual.
The consensus mark for industrial revenues is pegged at $1.07 billion, indicating a fall of 35.1% from the year-ago quarter’s number.
What Our Model Says
According to the Zacks model, 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.
Analog Devices currently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks, which according our model, have the right combination of elements to beat on earnings this season.
American Eagle Outfitters is set to report fourth-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AEO’s earnings is pegged at 38 cents per share, indicating growth of 52% from the year-ago quarter’s figure.
Abercrombie & Fitch (ANF - Free Report) has an Earnings ESP of +5.40% and a Zacks Rank of 2 at present.
Abercrombie & Fitch is set to report its second-quarter results on Aug 28. The consensus estimate for ANF’s earnings is pegged at $2.13 per share, indicating a significant jump of 93.6% from the prior-year quarter’s figure.
Affirm (AFRM - Free Report) has an Earnings ESP of +19.64% and a Zacks Rank of 2 at present.
Affirm is scheduled to release fourth-quarter fiscal 2024 results on Aug 28. The Zacks Consensus Estimate for AFRM’s loss is pegged at 45 cents per share, narrower than the prior-year quarter’s loss of 69 cents per share.
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What's in the Offing for Analog Devices (ADI) in Q3 Earnings?
Analog Devices, Inc. (ADI - Free Report) is scheduled to report third-quarter fiscal 2024 results on Aug 21.
ADI expects revenues of $2.27 billion (+/- $100 million). The Zacks Consensus Estimate is pegged at $2.27 billion, indicating a decline of 26.1% from the year-ago quarter’s figure.
Analog Devices anticipates adjusted earnings per share of $1.50 (+/- $0.10). The consensus mark for earnings is pinned at $1.50 per share, indicating a 39.8% fall from the prior-year quarter’s figure. The estimate has remained unchanged over the past 30 days.
ADI’s earnings surpassed estimates in two of the trailing four quarters, missed once and matched on the remaining occasion, the average surprise being 2.68%.
Let’s see how things have shaped up for the upcoming announcement.
Analog Devices, Inc. Price and EPS Surprise
Analog Devices, Inc. price-eps-surprise | Analog Devices, Inc. Quote
Key Factors to Note
Analog Devices’ fiscal third-quarter results are likely to have benefited from the solid momentum across the automotive end market, driven by the proliferation of higher-content vehicles.
Strength across the electric vehicle space on the back of the company’s robust Battery Management System solutions is anticipated to have been a positive.
However, challenging market conditions are expected to have been concerning.
The Zacks Consensus Estimate for automotive revenues is pegged at $682 million, indicating a decline of 7.6% from the year-ago quarter’s figure.
A weak demand environment in the consumer end market is likely to have negatively impacted the company’s performance.
The consensus estimate for consumer revenues is pegged at $269 million, indicating a decline of 7.9% from the year-ago quarter’s actual.
Sluggishness across the communications and industrial markets, due to the broad-based inventory corrections, is expected to have hurt the top line in the fiscal third quarter.
The Zacks Consensus Estimate for communications revenues is pegged at $247 million, indicating a fall of 40.3% from the year-ago quarter’s actual.
The consensus mark for industrial revenues is pegged at $1.07 billion, indicating a fall of 35.1% from the year-ago quarter’s number.
What Our Model Says
According to the Zacks model, 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.
Analog Devices currently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks, which according our model, have the right combination of elements to beat on earnings this season.
American Eagle Outfitters (AEO - Free Report) has an Earnings ESP of +1.97% and a Zacks Rank of 2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
American Eagle Outfitters is set to report fourth-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AEO’s earnings is pegged at 38 cents per share, indicating growth of 52% from the year-ago quarter’s figure.
Abercrombie & Fitch (ANF - Free Report) has an Earnings ESP of +5.40% and a Zacks Rank of 2 at present.
Abercrombie & Fitch is set to report its second-quarter results on Aug 28. The consensus estimate for ANF’s earnings is pegged at $2.13 per share, indicating a significant jump of 93.6% from the prior-year quarter’s figure.
Affirm (AFRM - Free Report) has an Earnings ESP of +19.64% and a Zacks Rank of 2 at present.
Affirm is scheduled to release fourth-quarter fiscal 2024 results on Aug 28. The Zacks Consensus Estimate for AFRM’s loss is pegged at 45 cents per share, narrower than the prior-year quarter’s loss of 69 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.