Symbiotic (SYM) to Report Q3 Earnings: What’s in the Offing?

Symbiotic, Inc. SYM is scheduled to report its third-quarter 2023 results on Jul 31 before market open.

The company has a disappointing earnings surprise history. It missed the Zacks Consensus Estimate in three of the trailing four quarters and beat on one instance, delivering an average earnings surprise of negative 60%.

Q3 Expectations

The Zacks Consensus Estimate for Symbiotic’s revenues in the to-be-reported quarter is pegged at $262.68 million, indicating a 49.6% year-over-year increase. The top-line growth is likely to have been due to the expected continuation of efficiency in deployment aided by outsourcing.

Symbotic Inc. Price and EPS Surprise

Symbotic Inc. price-eps-surprise | Symbotic Inc. Quote

The consensus estimate for the bottom line in the to-be-reported quarter stands at a loss of 6 cents per share. The company reported a loss of 1 cent per share in the year-ago quarter. Increasing costs are likely to have weighed on the company’s bottom line.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for SYM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

SYM has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).

Stocks to Consider

Here are a few stocks from the broader Zacks Business Services sector, which according to our model, have the right combination of elements to beat on earnings this season:

Aptiv APTV currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for the bottom line is pegged at $1.03 per share, up more than 100% from the year-ago figure. The consensus mark for revenues is pegged at $4.72 billion, up 16.5% from the figure reported a year ago. APTV had an average negative surprise of 8.1% in the previous four quarters.

APTV has an Earnings ESP of +4.37. The company is scheduled to release its second-quarter earnings on Aug 3.

SoFi Technologies SOFI currently has a Zacks Rank of 3. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 7 cents per share. In the previous year’s quarter, the company reported a loss of 12 cents per share. The consensus mark for revenues is pegged at $474.6 million, up 30.9% from the prior-year reported figure. SOFI had an average surprise of 23% in the previous four quarters.

SOFI has an Earnings ESP of +2.37. The company is slated to declare its second-quarter results on Jul 31.

Trane Technologies TT currently has a Zacks Rank of 2. The Zacks Consensus Estimate for the bottom line is pegged at $2.55 per share, up 18.1% from the year-ago reported figure. The consensus mark for revenues is pegged at $4.62 billion, up 10.4% from the prior-year reported figure. TT had an average surprise of 6.7% in the previous four quarters.

TT has an Earnings ESP of +1.20. The company is scheduled to declare its second-quarter results on Aug 2.

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