What To Expect From SmartRent’s (SMRT) Q3 Earnings

SMRT Cover Image

Smart home company SmartRent (NYSE: SMRT) will be reporting results this Wednesday before market hours. Hereโ€™s what you need to know.

SmartRent missed analystsโ€™ revenue expectations by 1.4% last quarter, reporting revenues of $38.31 million, down 21% year on year. It was a softer quarter for the company, with a significant miss of analystsโ€™ EBITDA estimates and EPS in line with analystsโ€™ estimates.

Is SmartRent a buy or sell going into earnings? Read our full analysis here, itโ€™s free for active Edge members.

This quarter, analysts are expecting SmartRentโ€™s revenue to decline 12.3% year on year to $35.55 million, improving from the 30.3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.04 per share.

SmartRent Total Revenue

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 Streetโ€™s revenue estimates six times over the last two years.

Looking at SmartRentโ€™s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AMETEK delivered year-on-year revenue growth of 10.8%, beating analystsโ€™ expectations by 4.3%, and Vontier reported flat revenue, topping estimates by 0.7%. AMETEK traded up 9.8% following the results while Vontier was down 10%.

Read our full analysis of AMETEKโ€™s results here and Vontierโ€™s results here.

Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. SmartRentโ€™s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $1.60 (compared to the current share price of $1.36).

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