Alight, Inc. (ALIT) Lags Q2 Earnings and Revenue Estimates

Company Performance - Alight, Inc. reported quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.12 per share, and down from $0.14 per share a year ago, representing an earnings surprise of -8.33% [1] - The company posted revenues of $787 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.53%, and down from $806 million year-over-year [1] - Over the last four quarters, Alight has surpassed consensus EPS estimates three times but has not beaten consensus revenue estimates [1] Stock Performance - Alight shares have declined approximately 19.1% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [2] - The current Zacks Rank for Alight is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $832.89 million, and for the current fiscal year, it is $0.74 on revenues of $3.48 billion [4] - The estimate revisions trend for Alight is mixed, and changes in estimates for the coming quarters and current fiscal year are anticipated following the recent earnings report [4] Industry Context - The Internet - Software industry, to which Alight belongs, is currently in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, i3 Verticals, is expected to report quarterly earnings of $0.35 per share, reflecting a year-over-year change of -7.9%, with revenues projected at $96.43 million, up 2.7% from the previous year [5]