Cipher Mining (CIFR) to Report Q2 Earnings: What’s in Store?

Cipher Mining CIFR is scheduled to release its second-quarter 2024 results on Aug 13, before market open.

Cipher Mining Inc. Price and EPS Surprise

Cipher Mining Inc. price-eps-surprise | Cipher Mining Inc. Quote

Q2 Expectations

We expect that CIFR’s capability of identifying and negotiating greenfield acquisition sites, structuring efficient power arrangements and building best-in-class data centers have positively impacted the performance in the to-be-reported quarter.

The Zacks Consensus Estimate for the company’s revenues is pegged at $38.9 million, indicating a 24.4% increase from the year-ago quarter’s actual. The top line is likely to have been driven by improvement in rig fleet efficiency.

The consensus estimate for CIFR’s bottom line is pegged at a loss of 3 cents per share compared with a loss of 5 cents per share reported in the year-ago quarter. The reduction in loss is due to low power costs.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for CIFR 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 is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

CIFR has an Earnings ESP of 0.00% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings Snapshot

Aptiv PLC APTV reported mixed second-quarter 2024 results.

APTV’s adjusted earnings of $1.58 per share beat the Zacks Consensus Estimate by 15.3% and increased 26.4% year over year. Revenues of $5.1 billion missed the Zacks Consensus Estimate by 5.1% and decreased 2.9% year over year.

Equifax Inc. EFX reported impressive second-quarter 2024 results.

EFX’s adjusted earnings (excluding 51 cents from non-recurring items) were $1.82 per share, outpacing the Zacks Consensus Estimate by 5.8% and increasing 6.4% on a year-over-year basis. Total revenues of $1.4 billion surpassed the consensus estimate marginally and jumped 8.6% from the year-ago quarter.

ManpowerGroup Inc. MAN reported mixed second-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.

MAN’s quarterly adjusted earnings of $1.3 per share surpassed the consensus mark by 2.4% but declined 17.7% year over year, due to run-off Proservia Germany business and Argentina-related currency translation losses. Revenues of $4.5 billion lagged the consensus mark by a slight margin and dipped 6.9% year over year on a reported basis and 3% on a constant-currency (cc) basis.

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