Earth imaging satellite company Planet Labs (NYSE:PL) will be reporting earnings tomorrow afternoon. Here’s what investors should know.
Planet Labs missed analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $61.55 million, up 4.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and revenue guidance for next quarter meeting analysts’ expectations.
Is Planet Labs a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Planet Labs’s revenue to grow 3% year on year to $62.23 million, slowing from the 14.7% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Planet Labs has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Planet Labs’s peers in the data & business process services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CSG delivered year-on-year revenue growth of 1.5%, beating analysts’ expectations by 1.4%, and CoStar reported revenues up 11.5%, in line with consensus estimates. CSG traded up 6.4% following the results while CoStar was down 10.2%.
Read our full analysis of CSG’s results here and CoStar’s results here.
There has been positive sentiment among investors in the data & business process services segment, with share prices up 4.2% on average over the last month. Planet Labs is up 10.7% during the same time and is heading into earnings with an average analyst price target of $5.80 (compared to the current share price of $3.84).
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