Self defense company AXON (NASDAQ: AXON) will be reporting results this Thursday after market hours. Here’s what you need to know.
Axon beat analysts’ revenue expectations last quarter, reporting revenues of $904.4 million, up 35.3% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ ARR estimates and an impressive beat of analysts’ EBITDA estimates.
Is Axon 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 Axon’s revenue to grow 31.7% year on year, improving from the 30.6% 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. Axon has a history of exceeding Wall Street’s expectations.
Looking at Axon’s peers in the aerospace and defense segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byrna’s revenues decreased 45.7% year on year, missing analysts’ expectations by 5.3%, and Huntington Ingalls reported revenues up 10.8%, topping estimates by 5.3%. Byrna traded up 11.6% following the results while Huntington Ingalls was also up 13.5%.
Read our full analysis of Byrna’s results here and Huntington Ingalls’s results here.
Investors in the aerospace and defense segment have had steady hands going into earnings, with share prices flat over the last month. Axon is up 1.3% during the same time and is heading into earnings with an average analyst price target of $680.37 (compared to the current share price of $417.00).
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