Global talent agency and entertainment company Endeavor (NYSE:EDR) will be reporting results tomorrow before the bell. Here's what to look for.
Endeavor missed analysts' revenue expectations by 1.1% last quarter, reporting revenues of $1.85 billion, up 15.9% year on year. It was a mixed quarter for the company, with a decent beat of analysts' earnings estimates but a miss of analysts' Sports revenue estimates.
Is Endeavor a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Endeavor's revenue to grow 39.1% year on year to $2.00 billion, improving from the 9.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 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. Endeavor has missed Wall Street's revenue estimates three times over the last two years.
Looking at Endeavor's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. fuboTV delivered year-on-year revenue growth of 25%, beating analysts' expectations by 6.2%, and Scholastic reported a revenue decline of 10.1%, falling short of estimates by 14%. Scholastic traded down 19.9% following the results.
Read our full analysis of fuboTV's results here and Scholastic's results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Endeavor's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $27.5 (compared to the current share price of $27.18).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.