Electronics distributor Richardson Electronics (NASDAQ:RELL) will be announcing earnings results this Wednesday after the bell. Here’s what to expect.
Richardson Electronics beat analysts’ revenue expectations last quarter, reporting revenues of $66.2 million, up 27.6% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Richardson Electronics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Richardson Electronics’s revenue to grow 8% year on year, improving from the 1.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Richardson Electronics has missed Wall Street’s revenue estimates multiple times over the last two years.
With Richardson Electronics being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for industrial distributors stocks. However, the whole sector has faced a sell-off over the last month with stocks in Richardson Electronics’s peer group down 3.3% on average. Richardson Electronics is up 7.6% during the same time .
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