inTest (INTT) to Report Q2 Earnings: What's in the Offing?
inTest Corporation INTT is set to report second-quarter 2023 results on Aug 4.
For second-quarter 2023, inTest expects revenues between $31 million and $33 million. The Zacks Consensus Estimate for quarterly revenues stands at $32.1 million, suggesting growth of 8.56% year over year.
For the second quarter, the company expects non-GAAP earnings to lie between 25 cents and 30 cents per share. The consensus mark for second-quarter earnings remained unchanged in the past 30 days at 27 cents per share, suggesting growth of 8% year over year.
Let’s see how things are shaping up for this quarter.
inTest Corporation Price and EPS Surprise
inTest Corporation price-eps-surprise | inTest Corporation Quote
Factors to Consider
inTest’s solid momentum across all end markets on the back of its expanding customer base remains a major positive and is likely to have aided the top line in the to-be-reported quarter.
inTest continues to witness strength in the semiconductor, industrial, defense & aerospace and life sciences markets. Increasing demand for induction heating technology solutions and silicon carbide (SiC) crystal growth and epitaxy applications in the semiconductor industry is likely to benefit the company’s position in this particular space.
The company’s strategic acquisitions, partnerships and continued product innovations are a major positive. Higher volume, favourable product mix and improved pricing are expected to have boosted margin performance in the quarter to be reported.
However, persistent macroeconomic constraints, the timing of underlying customer projects and cautious spending from customers with smaller order sizes are anticipated to have dented growth in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, 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.
inTest has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
DigitalOcean DOCN has an Earnings ESP of +4.03% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
DOCN’s shares have gained 90.1% year-to-date. DigitalOcean is set to post second-quarter 2023 results on Aug 3
Sabre SABR has an Earnings ESP of +13.04% and a Zacks Rank of 3 at present.
Sabre’s shares have lost 37% year to date. SABR is set to report its second-quarter 2023 results on Aug 3.
Chegg CHGG has an Earnings ESP of +20.89% and a Zacks Rank #2.
Chegg’s shares have declined 59.1% year to date. CHGG is set to report second-quarter 2023 results on Aug 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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inTest Corporation (INTT) : Free Stock Analysis Report
Chegg, Inc. (CHGG) : Free Stock Analysis Report
Sabre Corporation (SABR) : Free Stock Analysis Report
DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report
