Digital identity and security company Identiv (NASDAQCM:INVE) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Identiv missed analysts' revenue expectations by 2.2% last quarter, reporting revenues of $22.49 million, down 13.5% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is Identiv a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Identiv's revenue to decline 18.8% year on year to $24 million, a reversal from the 6.1% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 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.
Looking at Identiv's peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Powell delivered year-on-year revenue growth of 49.8%, beating analysts' expectations by 29.7%, and Allegion reported revenues up 5.8%, topping estimates by 1.1%. Powell traded up 37.7% following the results while Allegion was also up 4.4%.
Read our full analysis of Powell's results here and Allegion's results here.
Investors in the electrical systems segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Identiv is down 9% during the same time and is heading into earnings with an average analyst price target of $8.9 (compared to the current share price of $3.66).
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