3D measurement and imaging company FARO (NASDAQ: FARO) is expected to be reporting results this Friday after market close. Here’s what you need to know.
FARO beat analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $82.86 million, down 1.6% year on year. It was an exceptional quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is FARO a buy or sell going into earnings? Read our full analysis here, it’s free.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FARO has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.9% on average.
Looking at FARO’s peers in the inspection instruments segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Teledyne delivered year-on-year revenue growth of 10.2%, beating analysts’ expectations by 2.7%, and Itron reported flat revenue, in line with consensus estimates. Teledyne traded down 1% following the results while Itron was also down 11.1%.
Read our full analysis of Teledyne’s results here and Itron’s results here.
There has been positive sentiment among investors in the inspection instruments segment, with share prices up 2.8% on average over the last month. during the same time.
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