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Acoustic component provider Knowles (NYSE:KN) will be reporting results tomorrow after the bell. Here’s what to look for.
Knowles met analysts’ revenue expectations last quarter, reporting revenues of $204.7 million, up 18.3% year on year. It was a slower quarter for the company, with a miss of analysts’ earnings and EBITDA estimates.
Is Knowles a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Knowles’s revenue to decline 19.5% year on year to $141 million, a further deceleration from the 1.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.26 per share.
Analysts covering the company have generally 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 four times over the last two years.
Looking at Knowles’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vicor’s revenues decreased 13.6% year on year, beating analysts’ expectations by 9.3%, and Acuity Brands reported revenues up 2.2%, in line with consensus estimates. Acuity Brands traded up 9% following the results.
Read our full analysis of Vicor’s results here and Acuity Brands’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. Knowles is down 1.6% during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $17.29).
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