Environmental services provider Onterris (NYSE:ONT) will be reporting results this Wednesday afternoon. Here’s what investors should know.
Onterris missed analysts’ revenue expectations last quarter, reporting revenues of $186.7 million, down 20.4% year on year. It was a softer quarter for the company, with full-year revenue and full-year EBITDA guidance missing analysts’ expectations.
Is Onterris 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 Onterris’s revenue to decline 12.4% year on year, a reversal from the 25.9% increase 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. Onterris has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Onterris’s peers in the waste management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Clean Harbors delivered year-on-year revenue growth of 20.7%, beating analysts’ expectations by 8.3%, and Republic Services reported revenues up 8.2%, topping estimates by 3.1%. Clean Harbors traded down 1.1% following the results while Republic Services was up 3.3%.
Read our full analysis of Clean Harbors’s results here and Republic Services’s results here.
Investors in the waste management segment have had steady hands going into earnings, with share prices flat over the last month. Onterris is up 11% during the same time and is heading into earnings with an average analyst price target of $18.20 (compared to the current share price of $15.78).
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