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GlobalFoundries (GFS) to Post Q1 Earnings: What's in Store?

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·3 min read
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GlobalFoundries GF is slated to report first-quarter 2022 results on May 10.

For the first quarter, the company expects revenues between $1.88 billion and $1.92 billion. The Zacks Consensus Estimate for the same is pegged at $1.9 billion.

The company projects adjusted earnings between 21 cents per share and 27 cents. The Zacks Consensus Estimate for first-quarter earnings is pegged at 24 cents, which has been unchanged over the past 30 days.

GlobalFoundries Inc. Price and EPS Surprise

GlobalFoundries Inc. Price and EPS Surprise
GlobalFoundries Inc. Price and EPS Surprise

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

Factors to Consider

GlobalFoundries is expected to have continued benefiting from its portfolio strength, growing investments and expanding global manufacturing footprint in first-quarter 2022.

The company is likely to have capitalized on the strengthening demand for pervasive semiconductor solutions in the to-be-reported quarter.

It is expected to have continued gaining from its solid position in the semiconductor supply chain.

Increasing wafer shipments are likely to have contributed well to the company’s top-line growth in the quarter under review.

The impacts of the growing momentum across smart mobile devices, datacenter, automobile and IoT markets are likely to get reflected in the upcoming results.

Strengthening traction in areas such as near-field communication display and image sensing is likely to have been a tailwind.

Accelerating non-wafer revenues are expected to have aided the company’s performance further.

However, uncertainties related to the macro environment, including the economic impact of the pandemic and geopolitical tensions, are expected to have been headwinds for the company in the to-be-reported quarter.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for GlobalFoundries 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’re reported with our Earnings ESP Filter.

GlobalFoundries currently has a Zacks Rank #3 and an Earnings ESP of 0.00%.

Stocks to Consider

Here are some companies, which, per our model, have the right combination of elements to beat on earnings this season.

Analog Devices ADI has an Earnings ESP of +2.17% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Analog Devices is scheduled to release second-quarter fiscal 2022 results on May 18. The Zacks Consensus Estimate for ADI’s earnings is pegged at $2.12 per share, suggesting an increase of 37.7% from the prior-year quarter’s reported figure.

Cisco Systems CSCO has an Earnings ESP of +0.84% and a Zacks Rank #2 at present.

Cisco Systems is set to report third-quarter fiscal 2022 results on May 18. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 86 cents per share, indicating an increase of 3.61% from the prior-year period’s reported figure.

HP HPQ has an Earnings ESP of +0.78% and a Zacks Rank of 3 at present.

HP is scheduled to release second-quarter fiscal 2022 results on May 26. The Zacks Consensus Estimate for HPQ’s earnings is pegged at $1.06 per share, suggesting an increase of 13.98% from the prior-year quarter’s reported figure.

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


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