Yahoo Finance What's in the Cards for Axon (AXON) This Earnings Season?
Axon Enterprise AXON is scheduled to release first-quarter 2023 results on May 9, after market close.
The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 41.6%.
Let’s see how things have shaped up for Axon this earnings season.
Axon Enterprise, Inc Price and EPS Surprise
Axon Enterprise, Inc price-eps-surprise | Axon Enterprise, Inc Quote
Factors to Note
Axon’s first-quarter performance is expected to have benefited from strong demand for its latest generation devices like TASER 7, higher sales from training and virtual reality and a strong backlog level. It is apprehended that demand for the newly launched TASER 10 device is expected to have boosted revenues in the TASER segment.
Solid demand for Axon Body products and software-heavy premium integrated bundles, as well as strong momentum in digital evidence management and productivity, are expected to have benefited the Software and Sensors segment.
Continued focus on managing costs is likely to have aided AXON’s margin performance in the to-be-reported quarter.
However, lower demand for legacy devices, such as TASER X2 and TASER X26P and Axon Flex product offerings, is likely to have hurt the first-quarter performance.
Raw material cost inflation and supply chain disruptions are likely to have hurt the bottom line. Also, foreign currency headwinds might have affected the top line.
What Does the Zacks Model Say?
Our proven model does not conclusively predict 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 chances of beating estimates, which is not the case here, as elaborated below.
Earnings ESP: Axon has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 46 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Axon currently carries a Zacks Rank #3.
Highlights of Q4 Earnings
In fourth-quarter 2022, Axon reported earnings of 70 cents per share, which beat the Zacks Consensus Estimate of 50 cents. Revenues of $336.14 million surpassed the Zacks Consensus Estimate by 10.61%. Both the top and bottom lines increased significantly year over year.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which, according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
Johnson Controls International JCI has an Earnings ESP of +1.02% and a Zacks Rank #2. The company is slated to release second-quarter fiscal 2023 (ended Mar 31, 2023) results on May 5. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Johnson Controls’ second-quarter fiscal 2023 earnings has remained steady in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 0.7%, on average.
Ingersoll Rand IR has an Earnings ESP of +2.32% and presently sports a Zacks Rank #1. The company is set to announce first-quarter 2023 results on May 3.
The Zacks Consensus Estimate for Ingersoll Rand’s first-quarter earnings has been revised upward by 4% in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 8.5%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Johnson Controls International plc (JCI) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
