Waste and recycling services provider Quest Resource (NASDAQ: QRHC) will be announcing earnings results this Thursday after market close. Here’s what to look for.
Quest Resource missed analysts’ revenue expectations last quarter, reporting revenues of $61.74 million, down 9.8% year on year. It was a softer quarter for the company, with EPS in line with analysts’ estimates and EBITDA in line with analysts’ estimates.
Is Quest Resource 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 Quest Resource’s revenue to grow 6.7% year on year, a reversal from the 18.6% decrease 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.
Looking at Quest Resource’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.
Investors in the waste management segment have had steady hands going into earnings, with share prices flat over the last month. Quest Resource’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $3.25 (compared to the current share price of $1.25).
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