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Workiva (WK) Lags Q3 Earnings Estimates
WKWorkiva(WK) ZACKS·2024-11-07 00:40

Core Viewpoint - Workiva reported quarterly earnings of 0.21pershare,missingtheZacksConsensusEstimateof0.21 per share, missing the Zacks Consensus Estimate of 0.23 per share, but showing improvement from a loss of 0.65pershareayearago,indicatingasignificantrecoveryinearningsdespitethemiss[1][2]FinancialPerformance−Workiva′srevenuesforthequarterendedSeptember2024were0.65 per share a year ago, indicating a significant recovery in earnings despite the miss [1][2] Financial Performance - Workiva's revenues for the quarter ended September 2024 were 185.62 million, exceeding the Zacks Consensus Estimate by 1.71% and up from 158.18millionyear−over−year,demonstratingconsistentrevenuegrowth[2]−Overthelastfourquarters,thecompanyhassurpassedconsensusrevenueestimatesfourtimes,indicatingstrongperformanceinrevenuegeneration[2]StockPerformance−Workivashareshavedeclinedapproximately18.8158.18 million year-over-year, demonstrating consistent revenue growth [2] - Over the last four quarters, the company has surpassed consensus revenue estimates four times, indicating strong performance in revenue generation [2] Stock Performance - Workiva shares have declined approximately 18.8% since the beginning of the year, contrasting with the S&P 500's gain of 21.2%, highlighting underperformance relative to the broader market [3] - The current Zacks Rank for Workiva is 3 (Hold), suggesting that the stock is expected to perform in line with the market in the near future [6] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is 0.34 on revenues of 192.22million,andforthecurrentfiscalyear,itis192.22 million, and for the current fiscal year, it is 0.95 on revenues of $727.91 million, indicating positive expectations for future performance [7] - The trend of estimate revisions for Workiva is mixed, which could change following the recent earnings report [6] Industry Context - The Internet - Software industry, to which Workiva belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable industry outlook that could positively impact stock performance [8]