Bitfarms BITF is scheduled to release its second-quarter 2024 results on Aug 8, before market open.
BITF’s earnings surprise history has not been impressive. Earnings lagged the Zacks Consensus Estimate in three of the trailing four quarters and surpassed once, delivering a negative earnings surprise of 47.5%, on average.
Bitfarms Ltd. Price and EPS Surprise
Bitfarms Ltd. price-eps-surprise | Bitfarms Ltd. Quote
Q2 Expectations
The Zacks Consensus Estimate for the company’s revenues is pegged at $44.6 million, indicating a 25.7% increase from the year-ago quarter’s actual.
Growth in the top line is likely to have been driven by the recent fleet upgrade and the additional purchase of 24,000 best-performing machines on the market with competitive pricing. Also, the company had purchased land for Yguazu Paraguay Farm, which is located across the road from the ANDE substation. The substation is fed by a 500-kilovolt line directly from the Itaipu hydro dam and has an additional acreage to accommodate the company’s further expansion.
The consensus estimate for BITF’s loss is pegged at 11 cents per share compared with a loss of 7 cents per share reported in the year-ago quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for BITF this time around. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
BITF has an Earnings ESP of +34.38% and a Zacks Rank of 4 (Sell).
Stocks That Warrant a Look
Here are a few stocks from the broader Zacks Business Services sector, which, according to our model, have the right combination of elements to beat on earnings this season:
Amprius Technologies, Inc. AMPX:The Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $2.4 million, indicating year-over-year growth of 47.3%. The consensus mark for loss is pegged at 11 cents per share, suggesting no change from the year-ago quarter’s actual. Earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters and met twice, delivering an earnings surprise of 7.9%, on average.
AMPX currently has an Earnings ESP of +6.25% and a Zacks Rank of 3. The company is scheduled to declare its second-quarter results on Aug 8.
You can see the complete list of today’s Zacks #1 Rank stocks here.
DLocal Limited DLO: The Zacks Consensus Estimate for second-quarter revenues is pegged at $201.7 million, indicating an increase of 25.1% from the year-ago quarter’s actual. For the bottom line, the consensus mark for earnings is pegged at 10 cents per share, implying a 33.3% year-over-year decline. Earnings surpassed the Zacks Consensus Estimate in one of the trailing four quarters, missed twice, and met once, delivering a negative earnings surprise of 6.9%, on average.
DLO currently has an Earnings ESP of +13.79% and a Zacks Rank of 3. The company is scheduled to declare its second-quarter results on Aug 14.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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