Angi (ANGI) Reports Earnings Tomorrow: What To Expect

StockStory
10 Nov 2024
Angi (ANGI) Reports Earnings Tomorrow: What To Expect

Home services online marketplace ANGI (NASDAQ:ANGI) will be announcing earnings results tomorrow after the bell. Here’s what investors should know.

Angi beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $315.1 million, down 10.4% year on year. It was a mixed quarter for the company: Angi beat analysts' revenue and service request expectations this quarter, but we note that sales and service requests (growth indicator) declined. It reported 4.94 million service requests, down 28% year on year.

Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Angi’s revenue to decline 15.6% year on year to $296.3 million, improving from the 29.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 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. Angi has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Angi’s peers in the gig economy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Lyft delivered year-on-year revenue growth of 31.5%, beating analysts’ expectations by 5.7%, and Upwork reported revenues up 10.3%, topping estimates by 5.3%. Lyft traded up 22.8% following the results while Upwork was also up 11.2%.

Read our full analysis of Lyft’s results here and Upwork’s results here.

There has been positive sentiment among investors in the gig economy segment, with share prices up 11% on average over the last month. Angi is up 2% during the same time and is heading into earnings with an average analyst price target of $3.68 (compared to the current share price of $2.54).

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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