Environmental services provider Onterris (NYSE: ONT) will be reporting earnings this Wednesday after market hours. Here’s what to look for.
Onterris missed analysts’ revenue expectations last quarter, reporting revenues of $168.5 million, down 5.2% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is Onterris a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Onterris’s revenue to decline 15% year on year, a reversal from the 35.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Onterris has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Onterris’s peers in the waste management segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Clean Harbors delivered year-on-year revenue growth of 11.9%, beating analysts’ expectations by 6.1%, and Waste Connections reported revenues up 6.4%, topping estimates by 0.9%. Clean Harbors traded up 4.4% following the results while Waste Connections’s stock price was unchanged.
Read our full analysis of Clean Harbors’s results here and Waste Connections’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the waste management stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2% on average over the last month. Onterris is up 1.1% during the same time and is heading into earnings with an average analyst price target of $27 (compared to the current share price of $21.50).
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