Electronics Stocks' Apr 29 Earnings Roster: GNRC, KLAC & More

Electronics stocks are expected to have continued gaining from the pandemic-led work-from-home and learn-from-home trends in first-quarter 2021.

The trends, which have led to the growing proliferation of laptops, notebooks, office equipment and network peripherals, have turned out to be boons for electronics companies.

Further, electronics stocks' upcoming quarterly results are likely to reflect the growing adoption of AI, Machine Learning (ML), Augmented Reality (AR)/Virtual Reality (VR) devices, and cloud computing. Moreover, increasing demand for data centers to ensure an efficient remote-working environment is expected to have benefited the stocks in the quarter under review.

Additionally, technical advancements in Internet infrastructure and accelerated deployment of 5G technology worldwide are expected to have benefited industry participants in the to-be-reported quarter.

Furthermore, IoT-supported industrial automation and the rising demand for connected appliances in the consumer are expected to have acted as tailwinds for electronic companies.

Also, the increasing use of electronic components in smart cars and autonomous vehicles is likely to have benefited electronics companies in the quarter under review.

The aforesaid facts can be more ascertained by the strong performance of TE Connectivity TEL and Teradyne TER in the March-end quarter.

TE Connectivity’s recently reported quarterly results benefited from strong automotive sales, solid momentum across factory-automation applications, increasing appliance sales and robust demand for cloud applications.

Further, Teradyne’s first-quarter results reflect strong contributions from its well-performing industrial automation business and solid test solutions demand.

However, uncertainties related to the pandemic are likely to have been concerning for the electronics companies in the quarter under discussion.

Sneak Peek on a Few Upcoming Releases

Let’s see how the following electronics stocks are poised ahead of their quarterly results, which are slated to be reported on Apr 29.

Generac Holdings Inc.’s GNRC first-quarter 2021 performance is expected to have benefited from strong demand for home standby generators and PWR cell energy storage systems, solid uptake of residential products, and recovering Commercial & Industrial market.

Additionally, the company’s robust restructuring initiatives along with a strong liquidity position are anticipated to have been tailwinds for the company in the to-be-reported quarter. (Read more: Generac to Report Q1 Earnings: What's in the Offing?)

Our proven model conclusively predicts an earnings beat for Generac this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Notably, Generac has an Earnings ESP of +1.94% and a Zacks Rank #2.

Generac Holdings Inc. Price and EPS Surprise

Generac Holdings Inc. Price and EPS Surprise

Generac Holdings Inc. price-eps-surprise | Generac Holdings Inc. Quote

Further, the Zacks Consensus Estimate for the company’s first-quarter earnings has moved north by 1.1% to $1.89 per share over the past 30 days.

KLA Corporation KLAC is expected to have witnessed increased semiconductor device demand in third-quarter fiscal 2021, owing to the rising work-from-home trend and strengthening gaming market. Further, growing Foundry and Logic investments are anticipated to have been major positives.

Also, KLA’s strength in RF, MEMS and advanced packaging is anticipated to have continued to accelerate its Specialty Semiconductor Process’s revenue generation. Additionally, strong exposure to 5G infrastructure and the smartphone market is expected to have aided the company’s performance.

However, headwinds related to the pandemic are expected to get reflected in the company’s fiscal third-quarter results. (Read more: KLA to Report Q3 Earnings: What's in the Offing?)

Notably, KLA has an Earnings ESP of -0.52% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

KLA Corporation Price and EPS Surprise

KLA Corporation Price and EPS Surprise

KLA Corporation price-eps-surprise | KLA Corporation Quote

Further, the Zacks Consensus Estimate for the company’s fiscal third-quarter earnings has been unchanged at $3.59 per share over the past 30 days.

Fortive Corporation’s FTV first-quarter 2021 results are likely to have benefited from solid momentum across Intelligent Operating Solutions, Precision Technologies and Advanced Healthcare Solutions.

Further, robust Gilbarco Veeder-Root and Jacobs Vehicle Systems are expected to have contributed well. Additionally, the increasing adoption of Fortive’s Advanced Sterilization Products is expected to have aided top-line growth in the quarter under review. (Read more: Fortive to Report Q1 Earnings: What's in the Cards?)

Notably, Fortive has an Earnings ESP of +0.28% and a Zacks Rank #3.

Fortive Corporation Price and EPS Surprise

Fortive Corporation Price and EPS Surprise

Fortive Corporation price-eps-surprise | Fortive Corporation Quote

Further, the Zacks Consensus Estimate for the company’s first-quarter earnings has been unchanged at 60 cents per share over the past 30 days.

Carrier Global Corporation CARR is likely to have gained from a solid demand for Air Purifiers required for improving indoor air quality in first-quarter 2021. Further, the growing demand for residential HVAC is expected to have contributed well.

Additionally, the company’s newly launched cold chain program is expected to have gained user base in the to-be-reported quarter.

However, weakness in the company’s fire & safety solutions business is anticipated to get reflected in the first-quarter results. Read more: Carrier Global to Report Q1 Earnings: What's in Store?)

Notably, Carrier has an Earnings ESP of -1.77% and a Zacks Rank #3.

Carrier Global Corporation Price and EPS Surprise

Carrier Global Corporation Price and EPS Surprise

Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote

Further, the Zacks Consensus Estimate for the company’s first-quarter earnings has been unchanged at 38 cents per share over the past 30 days.

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KLA Corporation (KLAC) : Free Stock Analysis Report

TE Connectivity Ltd. (TEL) : Free Stock Analysis Report

Teradyne, Inc. (TER) : Free Stock Analysis Report

Generac Holdings Inc. (GNRC) : Free Stock Analysis Report

Fortive Corporation (FTV) : Free Stock Analysis Report

Carrier Global Corporation (CARR) : Free Stock Analysis Report

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