Autonomous driving technology company Mobileye (NASDAQ:MBLY) will be reporting earnings this Thursday before market hours. Here’s what you need to know.
Mobileye beat analysts’ revenue expectations last quarter, reporting revenues of $446 million, down 9% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ revenue estimates but full-year revenue guidance missing analysts’ expectations significantly.
Is Mobileye 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 Mobileye’s revenue to grow 18.2% year on year, slowing from the 83.3% 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 to stay the course heading into earnings. Mobileye has a history of exceeding Wall Street’s expectations.
Looking at Mobileye’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Autoliv delivered year-on-year revenue growth of 6.8%, beating analysts’ expectations by 4.8%, and Winnebago reported revenues up 6%, topping estimates by 4.8%. Autoliv traded up 9% following the results while Winnebago was down 6.4%.
Read our full analysis of Autoliv’s results here and Winnebago’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 11.2% on average over the last month. Mobileye is up 1.9% during the same time and is heading into earnings with an average analyst price target of $14.23 (compared to the current share price of $7.94).
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