HomeMost PopularInvestingVirco Manufacturing Corporation Set to Release Q3 Earnings: Brace for Impact!

Virco Manufacturing Corporation Set to Release Q3 Earnings: Brace for Impact!

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Virco Mfg. Corporation Poised to Post Lower Q3 Earnings

Virco Mfg. Corporation (VIRC) is expected to have experienced a dip in earnings for the third quarter of fiscal 2024 compared to the previous year. This decline is attributed to escalated freight and service costs incurred.

In the previous quarter, the company exceeded expectations by achieving a 48.4% and 12.7% higher net sales and earnings, respectively, as per Zacks Consensus Estimates. The revenue and EPS jumped by 30% and 58.3% respectively, from the same quarter of the prior year.

The consensus estimates for the to-be-reported quarter’s earnings have been steady at 39 cents per share over the last 60 days, indicating an 18.8% decrease from the year-ago quarter’s earnings of 48 cents per share.

Virco Manufacturing Corporation Price and EPS Surprise

As per Zacks Consensus Estimates, the net sales forecast is $81.3 million, suggesting a 5% year-over-year rise.

Factors Affecting Q3 Performance

Virco is anticipated to have experienced a decline in net sales and earnings during the third quarter due to its core seasonal nature, where around 50% of its total sales are generated from June to August each year, impacting costs. Additionally, elevated freight, service, shipping, and classroom delivery costs are likely to have impacted the bottom line.

Despite these hindrances, Virco’s adaptable vertically integrated model has enabled the company to support educational institutions in overcoming learning challenges. Its efficient inventory management and order delivery cycle have facilitated the provision of innovative solutions to educators and students in these trying times.

What Our Quantitative Model Predicts

The quantitative model does not solidly forecast an earnings beat for Virco on this occasion. An Earnings ESP of 0.00% and a Zacks Rank #3 for Virco indicates no significant potential for an earnings beat this time around.

Stay ahead of the upcoming earnings reports with the Zacks Earnings Calendar.

Similar Releases in Consumer Discretionary

Leggett & Platt, Inc. posted underwhelming Q3 2023 results, while Strategic Education, Inc. and Adtalem Global Education Inc. reported commendable results for their respective quarters for Q3 2023 and Q1 2024.

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The expressions and views in this piece are those of the writer and may not align with the perspectives of Nasdaq, Inc.

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