Calix's Upcoming Q2 Earnings Forecast: Anticipated Decline in Earnings and Revenue

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