Rambus (RMBS) to Report Q2 Earnings: What's in the Offing?
Rambus RMBS is scheduled to report its second-quarter 2023 results on Jul 31.
The Zacks Consensus Estimate for Rambus’ second-quarter revenues is pegged at $138 million, suggesting a 0.9% decrease from the year-ago quarter’s reported figure. For earnings per share, the consensus mark is pegged at 39 cents, which is 9.3% lower than the year-ago quarter’s earnings of 43 cents.
The company’s earnings outpaced estimates in three of trailing four quarters, matching once, the average surprise being 6.1%.
Rambus, Inc. Price and EPS Surprise
Rambus, Inc. price-eps-surprise | Rambus, Inc. Quote
Factors to Note
Rambus’ quarterly performance is likely to have benefited from increased demand for its memory chips. Hybrid work environment has urged the greater need for PCs, notebooks and other office equipment and network peripherals apart from gaming and other leisure devices. Utilization of drones and other robots and contactless delivery tools has also surged globally.
Rambus, which offers components to semiconductor manufacturers, is anticipated to have gained from the chip demand from PC manufacturers and data-center operators.
The company’s second-quarter performance is likely to have gained from the growing momentum of artificial intelligence solutions. RMBS has also expanded its DDR5 server memory shipments in the first quarter of 2023, which might have an impact on the upcoming release.
Nonetheless, weakening global economy amid ongoing macroeconomic and geopolitical issues might have hurt RMBS’ performance in the second quarter. Also, customer inventory reduction actions and supply chain shortages might have clipped margins during the quarter to be reported.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Rambus this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
RMBS has an Earnings ESP of 0.00% and a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
Per our model, Uber Technologies UBER, Marriott International MAR and Terex TEX have the right combination of elements to post an earnings beat in upcoming releases.
Uber has an Earnings ESP of +181.25% and carries a Zacks Rank #2 at present. The company is scheduled to report second-quarter 2023 results on Aug 1. UBER’s earnings beat the Zacks Consensus Estimate in two of the preceding four quarters, missing twice, the average surprise being negative 108.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for UBER’s quarterly loss is pegged at a penny per share, suggesting a year-over-year increase of 99.3%. Its quarterly revenues are estimated to increase 15.5% year over year to $9.32 billion.
Currently, Marriott has an Earnings ESP of +8.44% and carries a Zacks Rank #2. The company is set to report its second-quarter 2023 results on Aug 1. MAR’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, meeting once and delivering an average negative earnings surprise of 8%.
The Zacks Consensus Estimate for MAR’s second-quarter earnings is pegged at $2.19 per share, implying a year-over-year surge of 21.7%. The company is estimated to report revenues of $6.05 billion, which suggests a surge of 13.3% from the year-ago quarter.
Terex has an Earnings ESP of +2.14% and a Zacks Rank #2 at present. The company is set to report its second-quarter 2023 results on Aug 1. TEX’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 27.1%.
The Zacks Consensus Estimate for Terex’s second-quarter earnings is pegged at $1.61 per share, indicating a 50.5% increase from the year-ago quarter’s earnings of $1.07. The consensus mark for revenues is pegged at $1.26 billion, suggesting a year-over-year increase of 16.7%.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
Terex Corporation (TEX) : Free Stock Analysis Report
Rambus, Inc. (RMBS) : Free Stock Analysis Report
Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
