Yahoo Finance ANGI Gears Up to Report Q1 Earnings: What's in the Cards?
Angi ANGI is scheduled to report first-quarter 2024 results on May 7.
The Zacks Consensus Estimate for revenues is pegged at $297.78 million, indicating a decrease of 24.12% from the year-ago quarter’s levels.
The Zacks Consensus Estimate is pegged at a loss of 1 cent per share, which has remained unchanged in the past 30 days.
The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 68.45%.
Let’s see how things have shaped prior to this announcement.
Angi Inc. Price and EPS Surprise
Angi Inc. price-eps-surprise | Angi Inc. Quote
Factors to Consider
Angi is a platform for homeowners to connect with home service professionals. It’s first-quarter performance is expected to have been hurt by a decline in revenues across the Domestic business.
ANGI’s domestic business declined in the previous quarter due to lower service requests that were a result of ongoing user experience enhancements and homeowner and service professional acquisition optimizations, which also led to a decrease of 18% in Ads and Leads revenues. This trend is likely to have continued in the quarter to be reported.
The Zacks Consensus Estimate for Ads and Leads revenues is pegged at $243.81 million, indicating a decline of 16.9% from the year-ago quarter’s levels.
International business is expected to have aided the company’s top-line growth in the to-be-reported quarter. International business has been benefiting from the availability of a common platform and a winning user experience. This trend is likely to have continued in the to-be-reported quarter.
Monetized transactions represent the core revenue-driving activities of a business. Homeowners can connect with the right professionals and engage in transactions through advertisements or leads, which generate revenues.
In the fourth quarter of 2023, the company’s Monetized Transactions were 5.5 million, which fell 9% year over year. The Zacks Consensus Estimate for Monetized Transactions is pegged at 5.46 million, indicating a decrease of 15.4% from the year-ago quarter’s levels.
In the fourth quarter, ANGI’s operating income increased $35.8 million to $7.6 million from an operating loss of $28.2 million reported in the previous quarter and adjusted EBITDA improved 96% to $41.4 million, driven by lower sales and marketing as a result of improved unit economics, as well as exiting complex services. The improvement in margins is likely to have continued in the first quarter.
What Our Model Indicates
According to 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.
Angi has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. 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 stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
NVIDIA NVDA has an Earnings ESP of +2.50% and carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA is scheduled to release first-quarter 2024 results on May 22. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $5.49 per share, indicating growth of 403.67% from the year-ago quarter’s reported figure.
Arista Networks ANET has an Earnings ESP of +3.76% and carries a Zacks Rank #2 at present.
ANET is set to report first-quarter 2024 results on May 7. The Zacks Consensus Estimate for the company’s earnings is pegged at $1.74 per share, indicating a rise of 21.68% from the year-ago quarter’s reported figure.
Docebo DCBO has an Earnings ESP of +8.00% and a Zacks Rank #3 at present.
Docebo is set to report first-quarter 2024 results on May 9. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 17 cents per share, indicating growth of 88.89% from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Angi Inc. (ANGI) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
Docebo Inc. (DCBO) : Free Stock Analysis Report
