AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Calix's Upcoming Q2 Earnings Forecast: Anticipated Decline in Earnings and Revenue
ByAinvest
Sunday, Jul 21, 2024 5:59 pm ET1min read
Calix (NYSE:CALX) is anticipated to announce Q2 2024 earnings, with consensus expecting a significant drop in earnings per share (EPS) and revenue. Historically, the company has exceeded EPS estimates 100% of the time and revenue estimates 88% of the time over the past two years. However, recent estimates show a mix of downward revisions in both EPS and revenue. Calix is set to report its earnings on July 22, with a track record of beating expectations.
Calix, Inc. (NYSE:CALX), a leading provider of cloud and software platforms for broadband communications, is set to announce its Q2 2024 earnings on July 22. Historically, Calix has exceeded earnings per share (EPS) and revenue estimates, but recent downward revisions suggest a potential deviation from this trend (1).Analysts have significantly reduced their estimates for Calix's 2024 revenues, now forecasting a decline of 16% compared to the previous year, to $853 million (1). Earnings per share estimates have also been revised downward, with Calix anticipated to report a loss of $0.34 per share, a stark contrast to the profit recorded over the last year (1).
Calix's revenue growth has been impressive over the past five years, averaging 21% annually (1). However, the latest forecasts suggest a substantial slowdown, with annualized revenue declines expected to reach 21% by the end of 2024 (1). This performance contrasts unfavorably with other companies in the same industry, which are forecast to see their revenues grow by 4.5% annually (1).
The reasons for these downward revisions are not explicitly stated in the available data. However, the consensus price target for Calix has fallen by 9.0% to $41.80, indicating a decrease in investor confidence (1). The latest business developments have not appeared to reassure analysts, leading to a lower estimate of Calix's future valuation.
Investors should closely monitor Calix's earnings report on July 22 for further insights into the company's performance and prospects. The potential deviation from the company's historical trend of exceeding earnings and revenue estimates could impact investor sentiment and the stock price.
References:
[1] Finance.yahoo.com. (2023, May 11). Analysts just cut Calix, Inc. (CALX) 115119891. Retrieved July 14, 2023, from https://finance.yahoo.com/news/analysts-just-cut-calix-inc-115119891.html
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc's editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet