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Smart home company SmartRent (NYSE:SMRT) will be announcing earnings results tomorrow before the bell. Here’s what to expect.
SmartRent missed analysts’ revenue expectations by 18.2% last quarter, reporting revenues of $40.51 million, down 30.3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates.
Is SmartRent a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting SmartRent’s revenue to decline 34.6% year on year to $39.39 million, a reversal from the 48.6% 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. SmartRent has missed Wall Street’s revenue estimates six times over the last two years.
Looking at SmartRent’s peers in the internet of things segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Rockwell Automation’s revenues decreased 8.3% year on year, missing analysts’ expectations by 0.6%, and Trimble reported revenues up 5.5%, topping estimates by 4.2%. Rockwell Automation traded up 13.3% following the results while Trimble was down 2.6%.
Read our full analysis of Rockwell Automation’s results here and Trimble’s results here.
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