Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting earnings tomorrow afternoon. Here’s what investors should know.
Angi beat analysts’ revenue expectations by 5.3% last quarter, reporting revenues of $267.9 million, down 10.8% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ number of service requests estimates. It reported 3.63 million service requests, down 16.1% year on year.
Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Angi’s revenue to decline 21.6% year on year to $239.4 million, a further deceleration from the 14.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 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. Angi has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Angi’s peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Alphabet delivered year-on-year revenue growth of 12%, beating analysts’ expectations by 1.2%, and Booking reported revenues up 7.9%, topping estimates by 3.6%. Alphabet traded up 1.8% following the results while Booking was also up 3.4%.
Read our full analysis of Alphabet’s results here and Booking’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 18% on average over the last month. Angi is down 3% during the same time and is heading into earnings with an average analyst price target of $24.72 (compared to the current share price of $11.79).
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