What’s in the Offing for Bitfarms (BITF) in Q4 Earnings?

Bitfarms Ltd. BITF is slated to report its fourth-quarter 2023 results on Mar 7, before the bell.

The company’s earnings surprise history has not been impressive. Earnings lagged the Zacks Consensus Estimate in two of the trailing four quarters and surpassed twice, delivering a negative earnings surprise of 23.5%, on average.

Bitfarms Ltd. Price and Consensus

Bitfarms Ltd. price-consensus-chart | Bitfarms Ltd. Quote

Q4 Expectations

We believe that expansion moves at Baie-Comeau and in Paraguay, along with continuous efforts to reduce operating costs, have positively impacted the company’s results in the to-be-reported quarter. Bitfarms has been engaged in international development in securing surplus energy, realizing low direct costs and reducing overhead for a long time.

The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $39.2 million, indicating a 44.9% increase from the year-ago actual figure. The consensus mark for the bottom line is pegged at a loss of 4 cents, indicating contraction from a loss of 7 cents in the year-ago quarter.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for Bitfarms 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 to buy or sell before they are reported with our Earnings ESP Filter.

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

You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Earnings of Some Other Service Providers

Robert Half RHI reported better-than-expected fourth-quarter 2023 results.

Quarterly earnings of 83 cents per share beat the consensus mark by 1.2% but declined 39.4% year over year. RHI’s revenues of $1.5 billion beat the consensus mark by a slight margin but decreased 14.7% year over year.

Aptiv APTV reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.

Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. APTV’s revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.

S&P Global SPGI reported mixed fourth-quarter results, wherein earnings missed the Zacks Consensus Estimate, but revenues beat the same.

Adjusted EPS of $3.13 missed the Zacks Consensus Estimate by 0.6% but increased 23.2% year over year. Revenues of $3.2 billion surpassed the consensus estimate by 0.5% and improved 7.3% year over year.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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