Earth imaging satellite company Planet Labs (NYSE: PL) will be reporting earnings this Wednesday after market hours. Here’s what to expect.
Planet Labs beat analysts’ revenue expectations by 11.2% last quarter, reporting revenues of $73.39 million, up 20.1% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is Planet Labs a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Planet Labs’s revenue to grow 17.7% year on year to $72.13 million, improving from the 10.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.04 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. Planet Labs has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Planet Labs’s peers in the data & business process services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Broadridge delivered year-on-year revenue growth of 11.7%, beating analysts’ expectations by 3.4%, and CSG reported revenues up 2.4%, topping estimates by 0.5%. Broadridge traded down 1.2% following the results while CSG’s stock price was unchanged.
Read our full analysis of Broadridge’s results here and CSG’s results here.
Investors in the data & business process services segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Planet Labs is down 1.8% during the same time and is heading into earnings with an average analyst price target of $14.55 (compared to the current share price of $13.10).
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