Sarcos Technology and Robotics Corporation (STRC) Reports Third Quarter Loss and Delayed Revenue Estimates

Sarcos Technology and Robotics Corporation (STRC) Reports Third Quarter Loss and Delayed Revenue Estimates

Sarcos Technology and Robotics Corporation (STRC) exited with a quarterly loss of $0.12 per share versus Zacks Consensus’ estimate of $0.14. This compares to a loss of $0.08 per share a year ago. These numbers are adjusted for non-recurring items.

This quarterly report represents a 14.29% earnings surprise. A quarter ago, this company was expected to incur a loss of $0.11 per share when it actually incurred a loss of $0.12, surprisingly -9.09%.

Over the past four quarters, the company has exceeded the EPS estimate consensus only once.

Sarcos Technology and Robotics CompanyZacks, which belongs to the industrial services industry, reported revenue of $4.67 million for the quarter ending September 2022, missing the Zacks consensus estimate of 8.49%. This compares to last year’s revenue of $1.13 million. The company has exceeded agreed revenue estimates only once in the past four quarters.

The sustainability of the stock’s immediate price action based on recently released numbers and future earnings expectations will depend mostly on management’s comment on the earnings call.

Shares of Sarcos Technology and Robotics Corporation have lost about 80.2% year-to-date against the S&P 500’s -20.1% decline.

What’s next for Sarcos Technology and Robotics Corporation?

While Sarcos Technology and Robotics Corporation has underperformed the market so far this year, the question that comes to investors’ minds is: What’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings forecast. This includes not only the current agreed earnings forecast for the upcoming quarter(s), but also how those forecasts have changed recently.

Empirical research shows a strong relationship between near-term stock movements and trends in earnings estimate revisions. Investors can track these reviews themselves or rely on a tried and tested rating tool like Zacks Rank, which has a proven track record of leveraging the power of earnings estimate revisions.

before that earnings release, Trend of Estimated Reviews of Sarcos Technology and Robotics Corporation: Mixed. While the volume and direction of discretionary revisions can change after the company’s just released earnings report, the current situation translates to Zacks Rank #3 (Hold) for the stock. Therefore, the shares are expected to perform in line with the market in the near future. you can see The full list of Zacks #1 stocks (strong buy) today is here.

It will be interesting to see how the estimates for the upcoming quarters and the current fiscal year change in the coming days. The current estimate aligned with EPS is -$0.05 on $6.1 million in revenue for the next quarter and -$0.48 on $15 million in revenue for the current fiscal year.

Investors should be aware of the fact that the outlook for the industry can have a material impact on the stock’s performance as well. In terms of Zacks Industry Ranking, industrial services are currently in the bottom 47% of the 250+ Zacks industries. Our research shows that the top 50% of industries rated by Zacks outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from Zacks’ broader industrial products sector, Cadre Holdings, Inc. (CDRE), has not yet announced results for the quarter ending September 2022. Results are expected on November 10.

This company is expected to report quarterly earnings of $0.20 per share in its next report, which represents a year-over-year change of -20%. Our consolidated earnings per share estimate for the quarter has remained unchanged for the past 30 days.

Cadre Holdings, Inc.’s revenue is expected to be $106.31 million, up 7.8% from last year’s quarter.

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The opinions and opinions expressed here are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.

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