Applied Digital (US:APLD) ZACKSยท2024-10-02 15:01Core Viewpoint - Applied Digital Corporation (APLD) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ending August 2024, with the earnings report set to be released on October 9, 2024 [1] Revenue and Earnings Estimates - The company is expected to post a quarterly loss of $0.28 per share, reflecting a year-over-year change of -180% [2] - Revenues are projected to be $54.03 million, representing a 48.8% increase from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has been revised 14.6% higher in the last 30 days, indicating a reassessment by covering analysts [3] - A positive Earnings ESP of +53.15% suggests that analysts have recently become more optimistic about the company's earnings prospects [6][7] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [5] - The current Zacks Rank for Applied Digital Corporation is 3, indicating a potential for beating the consensus EPS estimate [7] Historical Performance - In the last reported quarter, the company was expected to post a loss of $0.23 per share but actually reported a loss of $0.52, resulting in a surprise of -126.09% [8] - The company has not beaten consensus EPS estimates in any of the last four quarters [8] Conclusion - While the company is positioned as a compelling earnings-beat candidate, other factors should also be considered when evaluating the stock ahead of its earnings release [9]