Verra Mobility (VRRM) Q2 Earnings Report Preview: What To Look For
Verra Mobility beat analysts' revenue expectations by 2.9% last quarter, reporting revenues of $223.3 million, up 6.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts' EBITDA estimates and full-year EBITDA guidance slightly topping analysts' expectations.
Is Verra Mobility a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Verra Mobility's revenue to grow 4.8% year on year to $233.1 million, slowing from the 8.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.33 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Verra Mobility has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.8% on average.
Looking at Verra Mobility's peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Vertiv delivered year-on-year revenue growth of 35.1%, beating analysts' expectations by 12%, and Acuity Brands reported revenues up 21.7%, topping estimates by 3.1%. Vertiv traded up 2% following the results while Acuity Brands was also up 5.8%.
Read our full analysis of Vertiv's results here and Acuity Brands's results here.
Investors in the electrical systems segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Verra Mobility's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $28.92 (compared to the current share price of $25.27).
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