Earth imaging satellite company Planet Labs (NYSE:PL) will be reporting results this Monday morning. Here’s what investors should know.
Planet Labs beat analysts’ revenue expectations by 6.5% last quarter, reporting revenues of $66.27 million, up 9.6% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is Planet Labs a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Planet Labs’s revenue to grow 8% year on year to $65.99 million, slowing from the 13.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.04 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Planet Labs has missed Wall Street’s revenue estimates four 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. CSG delivered year-on-year revenue growth of 2.3%, beating analysts’ expectations by 1.9%, and EXL reported revenues up 14.7%, topping estimates by 1.6%. CSG traded up 1.1% following the results while EXL was also up 1.4%.
Read our full analysis of CSG’s results here and EXL’s results here.
There has been positive sentiment among investors in the data & business process services segment, with share prices up 5.7% on average over the last month. Planet Labs is up 4.7% during the same time and is heading into earnings with an average analyst price target of $7.16 (compared to the current share price of $6.70).
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