Rackspace Technology Inc expected to post a loss of 11 cents a share - Earnings Preview

Rackspace Technology

07/08/2024 01:44

* Rackspace Technology Inc  RXT.OQ   RXT.O  is expected
to show a
fall in quarterly revenue when it reports  results on August 8
for the period ending June 30 2024
    * The San Antonio Texas-based  company is expected to report
a
9.7% decrease in revenue to $673.575 million from $746.3 million
a year ago, according to the mean estimate from 4 analysts,
based on LSEG data.The company's guidance on May 9 2024, for the
period ended June 30, was for revenue between $668.00 million
and $678.00 million.
    * ​LSEG's mean analyst estimate for Rackspace Technology Inc
is
for a loss of 11 cents per share. The company's EPS guidance on
May 9 2024, for the period ended June 30, was between $-0.11 and
$-0.09 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Rackspace
Technology Inc is $2.30​, above​ its last closing price
of $2.10. ​​​

The company's guidance on May 9 2024 for the period ended June
30 was for Earnings before Interest and Taxes between USD20
million and USD22 million.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Mar. 31 2024              -0.13      -0.11     Beat    17
 Dec. 31 2024              -0.04      -0.03     Beat    22.1
 Sep. 30 2023  -0.05       -0.05      -0.04     Beat    13.3​
 Jun. 30 2023  -0.08       -0.08      -0.06     Beat    23.5
 ​​Mar.        -0.02       -0.03      -0.02     Beat    23.1
 31 2023                                                
 Dec. 31 2022  0.05        0.05       0.06      Beat    20.9​
 Sep. 30 2022  0.09        0.09       0.10      Beat    14.8
 Jun. 30 2022  0.16        0.16       0.17      Beat    8.3
 This summary was machine generated August 7 at 00:44 GMT.  All
figures in US dollars unless otherwise stated. (For questions
concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com)