Yahoo Finance AXON Gears Up to Report Q1 Earnings: What's in the Cards?
Axon Enterprise, Inc. AXON is scheduled to release first-quarter 2024 results on May 06, 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 beat being 58.7%.
Let’s see how things have shaped up for Axon this earnings season.
Factors to Note
Axon’s TASER segment’s first-quarter 2024 performance is expected to have benefited from strong demand for TASER devices and higher cartridge revenues. Also, segmental performance is likely to reflect strong sales from stable demand for virtual reality training services. The Zacks Consensus Estimate for the TASER segment’s revenues is pegged at $160 million, increasing 19.4% from the year-ago reported number.
The Software & Sensors segment is expected to have generated 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 $278 million, indicating a 33% 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 have bolstered AXON’s top-line performance. The consensus estimate for the company’s revenues is pegged at $438 million, suggesting an increase of 27.7% from the year-ago quarter’s reported figure.
However, the escalating cost of sales, due to raw material cost inflation, is likely to have weighed on AXON’s bottom line. The consensus estimate for the company’s adjusted earnings is pinned at 43 cents per share, indicating a 15.7% 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 predicts 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 the case here, as elaborated below.
Earnings ESP: Axon has an Earnings ESP of +5.97% as the Most Accurate Estimate is pegged at $1.03 per share, which is higher than the Zacks Consensus Estimate of 97 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Axon presently sports a Zacks Rank 1.
Other Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, also have the right combination of elements to beat on earnings in this reporting cycle.
Atmus Filtration Technologies Inc. ATMU has an Earnings ESP of +0.57% and a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is slated to release first-quarter results on May 3. ATMU delivered a trailing four-quarter earnings surprise of 20.3%, on average.
Chart Industries, Inc. GTLS has an Earnings ESP of +9.86% and a Zacks Rank of 1. The company is slated to release first-quarter 2024 results on May 3.
Chart Industries’ earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average beat being 75.9%.
Clear Secure, Inc. YOU has an Earnings ESP of +17.65% and a Zacks Rank of 1, at present.
The company is slated to release first-quarter results on May 8. YOU delivered a trailing four-quarter earnings surprise of 136.4%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Chart Industries, Inc. (GTLS) : Free Stock Analysis Report
Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
CLEAR Secure, Inc. (YOU) : Free Stock Analysis Report
Atmus Filtration Technologies Inc. (ATMU) : Free Stock Analysis Report
