Waste and recycling services provider Quest Resource (NASDAQ:QRHC) will be reporting earnings tomorrow after market hours. Here's what to expect.
Quest Resource met analysts' revenue expectations last quarter, reporting revenues of $72.65 million, down 2% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Quest Resource a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Quest Resource's revenue to grow 3% year on year to $76.7 million, a reversal from the 3.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 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. Quest Resource has missed Wall Street's revenue estimates five times over the last two years.
Looking at Quest Resource's peers in the waste management segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Clean Harbors delivered year-on-year revenue growth of 11.1%, beating analysts' expectations by 1.5%, and Montrose reported revenues up 8.9%, in line with consensus estimates. Clean Harbors traded up 8% following the results.
Read our full analysis of Clean Harbors's results here and Montrose's results here.
Investors in the waste management segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Quest Resource is down 1.9% during the same time and is heading into earnings with an average analyst price target of $14 (compared to the current share price of $8.43).
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