Electronic components manufacturer Knowles (NYSE: KN) will be reporting results this Thursday after the bell. Here’s what to expect.
Knowles beat analysts’ revenue expectations last quarter, reporting revenues of $162.2 million, up 13.8% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Knowles a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Knowles’s revenue to grow 11.5% year on year, improving from its flat revenue in the same quarter last year.
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. Knowles has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Knowles’s peers in the tech hardware & electronics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Jabil delivered year-on-year revenue growth of 23.1%, beating analysts’ expectations by 6.8%, and TD SYNNEX reported revenues up 18.1%, topping estimates by 9.5%. Jabil traded up 1.1% following the results while TD SYNNEX was also up 16.3%.
Read our full analysis of Jabil’s results here and TD SYNNEX’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 10.8% on average over the last month. Knowles is up 24.2% during the same time and is heading into earnings with an average analyst price target of $31 (compared to the current share price of $31.42).
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