Why Micron (MU) is Poised to Beat Earnings Estimates Again

Core Viewpoint - Micron is well-positioned to continue its earnings-beat streak in the upcoming report, having surpassed earnings estimates in the last two quarters by an average of 14.61% [1][5]. Earnings Performance - In the last reported quarter, Micron achieved earnings of $1.91 per share, exceeding the Zacks Consensus Estimate of $1.59 per share, resulting in a surprise of 20.13% [2]. - For the previous quarter, Micron's earnings were $1.56 per share against an expected $1.43 per share, delivering a surprise of 9.09% [2]. Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for Micron, with a positive Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [5][8]. - The current Earnings ESP for Micron is +1.37%, suggesting that analysts have recently become more optimistic about the company's earnings prospects [8]. Zacks Rank and Success Rate - Micron holds a Zacks Rank of 1 (Strong Buy), which, when combined with a positive Earnings ESP, indicates a high probability of another earnings beat [8]. - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% success rate in beating consensus estimates [6].