BOX Gears Up to Report Q2 Earnings: Here's What to Expect
Box, Inc. BOX is scheduled to report second-quarter fiscal 2024 results on Aug 29.
For second-quarter fiscal 2024, Box expects revenues between $260 million and $262 million, suggesting a 7% rise at the high end of the range from the prior fiscal year’s reported figure. The Zacks Consensus Estimate for the same is pegged at $261.03 million, indicating 6.1% growth from the last fiscal year’s quarterly reported value.
Box anticipates non-GAAP earnings per share in the band of 34-35 cents. The consensus mark for the metric is pegged at 35 cents, suggesting an improvement of 25% from the previous fiscal year’s quarterly reported figure. The bottom line has been unchanged over the past 30 days.
Earnings of BOX surpassed the Zacks Consensus Estimate in three of the trailing four quarters while matching the mark once, the average beat being 7.7%.
Box, Inc. Price and EPS Surprise
Box, Inc. price-eps-surprise | Box, Inc. Quote
Factors to Note
The growing adoption of Box’s content cloud by existing and new customers is likely to have benefited the company in its fiscal second-quarter performance.
BOX’s enhanced security, compliance, data governance and privacy capabilities of its Content Cloud are expected to have driven momentum across government and private organizations in the quarter under review.
Its strengthening multi-product offerings and deeper integrations are likely to have boosted its net retention rate in the to-be-reported quarter.
Improved capabilities of Box Sign are likely to have continued helping customers move their signature transactions to the cloud.
This apart, the increasing demand for hybrid working and online learning methods is anticipated to have continued driving the quarterly performance.
Its growing momentum in Enterprise Plus Suites is likely to have bolstered its attach rate during the to-be-reported quarter.
All these endeavors are likely to have impacted the upcoming results positively.
However, mounting expenses related to investments in cloud infrastructure, sales and marketing, and administration are likely to have remained a concern in the quarter under review.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for BOX 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.
Box has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
It has a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks that you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
American Eagle Outfitters AEO has an Earnings ESP of +8.52% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters is scheduled to release second-quarter fiscal 2023 results on Sep 6. The Zacks Consensus Estimate for AEO’s earnings is pegged at 15 cents per share, which indicates a significant jump from 4 cents per share reported in the year-ago quarter.
American Woodmark AMWD has an Earnings ESP of +8.43% and currently carries a Zacks Rank #2.
American Woodmark is set to report first-quarter fiscal 2024 results on Aug 29. The Zacks Consensus Estimate for AMWD’s earnings is pinned at $2.20 per share, indicating growth of 28.6% from the prior-year quarter.
Bank of Montreal BMO has an Earnings ESP of +3% and a Zacks Rank #3 at present.
Bank of Montreal is scheduled to report third-quarter fiscal 2023 results on Aug 29. The Zacks Consensus Estimate for BMO’s earnings is pegged at $2.27 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Bank Of Montreal (BMO) : Free Stock Analysis Report
American Woodmark Corporation (AMWD) : Free Stock Analysis Report
Box, Inc. (BOX) : Free Stock Analysis Report
