ToughBuilt (TBLT) to Report Q2 Earnings: What to Expect?
ToughBuilt Industries, Inc. TBLT is slated to report second-quarter fiscal 2023 results on Aug 22, after the closing bell.
In the last reported quarter, the company reported a net loss of 56 cents per share, which improved significantly from a net loss of $14.04 year over year. Revenues increased by 17% year over year, backed by increased marketplace penetration of ToughBuilt products and a combination of recurring sales and new orders from new and existing customers.
The Trend in Estimate Revision
The Zacks Consensus Estimate for TBLT’s fiscal second-quarter earnings is pegged at negative 57 cents per share, suggesting an improvement of 94% from the year-ago quarter’s figure of negative $9.45. The consensus estimate for revenues is pegged at $28.9 million, indicating a 61.5% increase from the prior-year period.
Factors to Note
ToughBuilt’s fiscal second-quarter earnings and revenues are likely to have increased on the back of regular introduction of its SKUs and the strengthening of its global brand presence. Its efforts to reduce costs and exhibit prudent financial management might have boosted margins further.
ToughBuilt Industries, Inc. Price and EPS Surprise
ToughBuilt Industries, Inc. price-eps-surprise | ToughBuilt Industries, Inc. Quote
The company has been witnessing strong demand for its products. New and recurring sales orders are also expected to have improved in the to-be-reported quarter. The company recently announced that during second-quarter fiscal 2023, it recorded gross sales of $3.61 million through Amazon.com compared with $3.56 million in second-quarter fiscal 2022.
ToughBuilt’s margins have been increasing despite inflationary woes. This is a result of improved brand awareness and continued product innovation across all segments. These factors are likely to have aided the company in the fiscal second quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for ToughBuilt 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, which is not the case here.
ToughBuilt carries a Zacks Rank #3 and 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.
Stock With the Favorable Combination
Here is a company in the Zacks Construction sector that, according to our model, has the right combination of elements to post an earnings beat in the quarter to be reported.
Dycom Industries, Inc. DY has an Earnings ESP of +0.12% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
DY’s earnings for the to-be-reported quarter are expected to increase by 13.7%. The company reported better-than-expected earnings in the last four quarters, the average surprise being 153.7%.
Recent Releases
AECOM ACM reported mixed third-quarter fiscal 2023 results, with revenues surpassing the Zacks Consensus Estimate and earnings missing the same.
On a year-over-year basis, the top and bottom lines increased, backed by double-digit organic net service revenues (NSR) growth in ACM’s design business.
Fluor Corporation FLR recently posted solid earnings for second-quarter 2023, which were more than double the Zacks Consensus Estimate and above five times the year-ago figure. Revenues also topped the consensus mark by 9.1% and increased by 19.4% from the year-ago level.
FLR’s second quarter top-line was backed by a ramp-up of execution activities on several recently awarded projects in the Energy Solutions, Urban Solutions and Mission Solutions segments, partially offset by declines in the volume of execution activity for projects that were completed or nearing completion.
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