Western Digital Corp expected to post earnings of $1.72 a share - Earnings Preview

Western Digital

23/10/2024 04:55

* Western Digital Corp  WDC.OQ   WDC.O  is expected to show
a rise
in quarterly revenue when it reports  results on October 24 for
the period ending September 30 2024
    * The San Jose California-based  company is expected to
report a
49.8% increase in revenue to $4.118 billion from $2.75 billion a
year ago, according to the mean estimate from 20 analysts, based
on LSEG data.The company's guidance on July 31 2024, for the
period ended September 30, was for revenue between $4.00 billion
and $4.20 billion. (Sales/Revenue Majority Basis is on Total
Revenue)
    * ​LSEG's mean analyst estimate for Western Digital Corp is
for
earnings of $1.72 per share. The company's EPS guidance on July
31 2024, for the period ended September 30, was between $1.55
and $1.85 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 19 "strong buy" or "buy," 8
"hold" and no "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 Western
Digital
Corp is 89.00​, above​ its last closing price of $67.76. ​​​

The company's guidance on July 31 2024 for the period ended
September 30 was for gross profit margin between USD37% and
USD39%.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Jun. 30 2024  1.24        1.17       1.44      Beat    23
 Mar. 31 2024  0.30        0.21       0.63      Beat    203.7
 Dec. 31 2023  -1.12       -1.13      -0.69     Beat    39.1​
 Sep. 30 2023  -1.91       -1.90      -1.76     Beat    7.6
 ​​Jun.        -2.02       -2.01      -1.98     Beat    1.7
 30 2023                                                
 Mar. 31 2023  -1.58       -1.57      -1.37     Beat    12.8​
 Dec. 31 2022  -0.14       -0.12      -0.42     Missed  -244
 Sep. 30 2022  0.31        0.36       0.20      Missed  -45
 This summary was machine generated October 23 at 03:55 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)