Manufacturing-focused digital marketplace Xometry (NASDAQ:XMTR) will be reporting earnings tomorrow before market open. Here's what investors should know.
Xometry beat analysts' revenue expectations by 2.4% last quarter, reporting revenues of $122.7 million, up 16.5% year on year. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Xometry a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Xometry's revenue to grow 15.9% year on year to $128.6 million, in line with the 16.1% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.15 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. Xometry has missed Wall Street's revenue estimates twice over the last two years.
Looking at Xometry's peers in the specialty equipment distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hudson Technologies's revenues decreased 16.8% year on year, missing analysts' expectations by 4.9%, and Richardson Electronics reported a revenue decline of 19.5%, falling short of estimates by 1.3%. Richardson Electronics traded up 2.8% following the results.
Read our full analysis of Hudson Technologies's results here and Richardson Electronics's results here.
Investors in the specialty equipment distributors segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Xometry is down 1.2% during the same time and is heading into earnings with an average analyst price target of $22.3 (compared to the current share price of $11.95).
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