Yahoo Finance What To Expect From APi's (APG) Q2 Earnings
Safety and specialty services provider APi (NYSE:APG) will be reporting results tomorrow before market hours. Here's what you need to know.
APi met analysts' revenue expectations last quarter, reporting revenues of $1.60 billion, flat year on year. It was a weaker quarter for the company, with a miss of analysts' organic revenue estimates.
Is APi a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting APi's revenue to grow 1.1% year on year to $1.79 billion, slowing from the 7.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.47 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. APi has missed Wall Street's revenue estimates four times over the last two years.
Looking at APi's peers in the construction and engineering segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 39.6%, beating analysts' expectations by 6.9%, and Orion reported revenues up 5.3%, falling short of estimates by 3.4%. Comfort Systems traded up 5.9% following the results while Orion was down 28.5%.
Read our full analysis of Comfort Systems's results here and Orion's results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 9.4% on average over the last month. APi is up 1.9% during the same time and is heading into earnings with an average analyst price target of $44.8 (compared to the current share price of $37.22).
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