Aerospace and defense company Redwire (NYSE:RDW) will be reporting results tomorrow after market hours. Here's what you need to know.
Redwire beat analysts' revenue expectations by 33% last quarter, reporting revenues of $87.79 million, up 52.4% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.
Is Redwire a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Redwire's revenue to grow 13.8% year on year to $68.38 million, slowing from the 63.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.04 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. Redwire has missed Wall Street's revenue estimates twice over the last two years.
Looking at Redwire's peers in the aerospace segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Howmet delivered year-on-year revenue growth of 14.1%, beating analysts' expectations by 2.5%, and Astronics reported revenues up 13.6%, topping estimates by 3.7%. Howmet traded up 15.5% following the results while Astronics was down 7.7%.
Read our full analysis of Howmet's results here and Astronics's results here.
Investors in the aerospace segment have had steady hands going into earnings, with share prices flat over the last month. Redwire is down 13.4% during the same time and is heading into earnings with an average analyst price target of $8.3 (compared to the current share price of $5.99).
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