Symbotic Inc. (SYM) Studies Q1 Loss, Tops Income Estimates

Symbotic Inc. (SYM) got here out with a quarterly lack of $0.12 per share versus the Zacks Consensus Estimate of a lack of $0.05. This compares to lack of $4.88 per share a yr in the past. These figures are adjusted for non-recurring objects.

This quarterly report represents an earnings shock of -140%. 1 / 4 in the past, it was anticipated that this firm would put up a lack of $0.05 per share when it truly produced a lack of $0.10, delivering a shock of -100%.

Over the past 4 quarters, the corporate has surpassed consensus EPS estimates simply as soon as.

Symbotic Inc. , which belongs to the Zacks Know-how Companies business, posted revenues of $206.31 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 4.18%. This compares to year-ago revenues of $77.06 million. The corporate has topped consensus income estimates thrice during the last 4 quarters.

The sustainability of the inventory’s quick worth motion primarily based on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.

Symbotic Inc. Shares have added about 15.3% for the reason that starting of the yr versus the S&P 500’s achieve of 6%.

What’s Subsequent for Symbotic Inc.

Whereas Symbotic Inc. Has outperformed the market to date this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?

There are not any simple solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.

Empirical analysis reveals a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a powerful observe file of harnessing the ability of earnings estimate revisions.

Forward of this earnings launch, the estimate revisions development for Symbotic Inc. Blended. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You’ll be able to see the whole listing of at this time’s Zacks #1 Rank (Sturdy Purchase) shares right here.

Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is -$0.04 on $213.47 million in revenues for the approaching quarter and -$0.13 on $960.37 million in revenues for the present fiscal yr.

Traders must be aware of the truth that the outlook for the business can have a fabric influence on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Know-how Companies is presently within the backside 43% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.

IQVIA Holdings (IQV), one other inventory in the identical business, has but to report outcomes for the quarter ended December 2022. The outcomes are anticipated to be launched on February 10.

This scientific testing firm is anticipated to put up quarterly earnings of $2.75 per share in its upcoming report, which represents a year-over-year change of +7.8%. The consensus EPS estimate for the quarter has been revised 0.3% decrease during the last 30 days to the present degree.

IQVIA Holdings’ revenues are anticipated to be $3.7 billion, up 1.9% from the year-ago quarter.

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