Self defense company AXON (NASDAQ: AXON) will be announcing earnings results this Tuesday afternoon. Here’s what you need to know.
Axon beat analysts’ revenue expectations by 4.3% last quarter, reporting revenues of $668.5 million, up 32.8% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ ARR estimates and a beat of analysts’ EPS estimates.
Is Axon a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Axon’s revenue to grow 29.6% year on year to $705.2 million, slowing from the 31.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.54 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. Axon has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.6% on average.
Looking at Axon’s peers in the aerospace and defense segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byrna delivered year-on-year revenue growth of 35.1%, meeting analysts’ expectations, and RTX reported revenues up 11.9%, topping estimates by 5.4%. Byrna traded up 15.6% following the results while RTX was also up 10.8%.
Read our full analysis of Byrna’s results here and RTX’s results here.
Investors in the aerospace and defense segment have had steady hands going into earnings, with share prices flat over the last month. Axon is up 1.6% during the same time and is heading into earnings with an average analyst price target of $888.93 (compared to the current share price of $733).
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