Electronics distributor Richardson Electronics (NASDAQ:RELL) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
Richardson Electronics beat analysts’ revenue expectations by 8.7% last quarter, reporting revenues of $53.73 million, up 2.2% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ EPS and EBITDA estimates.
Is Richardson Electronics a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Richardson Electronics’s revenue to grow 16.3% year on year to $51.31 million, a reversal from the 33% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.02 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. Richardson Electronics has missed Wall Street’s revenue estimates four times over the last two years.
With Richardson Electronics being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for industrial distributors stocks. However, the whole sector has been hit hard over the last month as stocks in Richardson Electronics’s peer group are down 5.8% on average. Richardson Electronics is up 2.3% during the same time and is heading into earnings with an average analyst price target of $15.50 (compared to the current share price of $14.61).
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