Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

What To Expect From ESCO’s (ESE) Q3 Earnings

Published 2024-11-13, 02:01 a/m
© Reuters.  What To Expect From ESCO’s (ESE) Q3 Earnings
ESE
-
DJD
-

Stock Story -

Engineered products manufacturer ESCO (NYSE:ESE) will be announcing earnings results tomorrow after market close. Here’s what to look for.

ESCO missed analysts’ revenue expectations by 6% last quarter, reporting revenues of $260.8 million, up 4.8% year on year. It was a softer quarter for the company, with a miss of analysts’ EBITDA estimates and underwhelming earnings guidance for the full year.

Is ESCO a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.

This quarter, analysts are expecting ESCO’s revenue to grow 3.6% year on year to $282.6 million, slowing from the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.44 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. ESCO has missed Wall Street’s revenue estimates three times over the last two years.

Looking at ESCO’s peers in the engineered components and systems segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Graham Corporation delivered year-on-year revenue growth of 18.8%, beating analysts’ expectations by 7.8%, and Park-Ohio reported flat revenue, falling short of estimates by 4.8%. Graham Corporation traded up 23.8% following the results while Park-Ohio was down 4.1%.

Read the full analysis of Graham Corporation’s and Park-Ohio’s results on StockStory.

There has been positive sentiment among investors in the engineered components and systems segment, with share prices up 5.4% on average over the last month. ESCO is up 15.2% during the same time and is heading into earnings with an average analyst price target of $135.75 (compared to the current share price of $144.01).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.