Self defense company AXON (NASDAQ: AXON) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
Axon beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $575.1 million, up 33.6% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ sales volume estimates and an impressive beat of analysts’ EPS estimates.
Is Axon a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Axon’s revenue to grow 27.6% year on year to $587 million, slowing from the 33.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.24 per share.
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. Axon has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.7% on average.
Looking at Axon’s peers in the aerospace and defense segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Byrna delivered year-on-year revenue growth of 57.3%, meeting analysts’ expectations, and CACI reported revenues up 11.8%, topping estimates by 1.5%. Byrna traded up 8.2% following the results while CACI was also up 7.9%.
Read our full analysis of Byrna’s results here and CACI’s results here.
There has been positive sentiment among investors in the aerospace and defense segment, with share prices up 12.3% on average over the last month. Axon is up 23.6% during the same time and is heading into earnings with an average analyst price target of $665.10 (compared to the current share price of $621.30).
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