Earth imaging satellite company Planet Labs (NYSE: PL) will be reporting results this Thursday after the bell. Here’s what you need to know.
Planet Labs beat analysts’ revenue expectations last quarter, reporting revenues of $94.15 million, up 42.1% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Planet Labs a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Planet Labs’s revenue to grow 43.3% year on year, improving from the 20.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Planet Labs has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Planet Labs’s peers in the data & business process services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. EXL delivered year-on-year revenue growth of 15.6%, beating analysts’ expectations by 3.5%, and Broadridge reported revenues up 7.5%, topping estimates by 2.6%. EXL traded up 17.9% following the results while Broadridge was also up 3.9%.
Read our full analysis of EXL’s results here and Broadridge’s results here.
Investors in the data & business process services segment have had steady hands going into earnings, with share prices flat over the last month. Planet Labs is down 10.4% during the same time and is heading into earnings with an average analyst price target of $40.10 (compared to the current share price of $19.28).
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