Business Services Stock Q4 Earnings On Feb 13: WM, RSG & More
Zacks Investment Research | Feb 11, 2020 09:30PM ET
The Business Services sector was on a strong footing, driven by economic strength and stability that kept service activities in good shape in the fourth quarter. It was buoyed by a strong labor market, solid job growth and lower unemployment.
Notably, U.S. GDP grew at an annualized rate of 2.1% in fourth-quarter 2019, in line with growth in the third quarter, per estimates released by the Bureau of Economic Analysis. Further, December was the 119th month of consecutive growth in non-manufacturing activities, with the ISM-measured Non-Manufacturing Index touching 55%. Notably, a reading above 50 indicates growth.
Since business services firms have lower foreign exposure compared with goods companies and incur less foreign input costs, the industry was less affected by the trade war in the fourth quarter.
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Black Knight, Inc. (NYSE:BKI) : This Florida-based provider of integrated software, data and analytics solutions to the mortgage and consumer loan, real estate, and capital market verticals in the United States is scheduled to report results after market close.
The Zacks Consensus Estimate for revenues is pegged at $299.98 million, indicating growth of 5% from the year-ago quarter’s reported figure. The top line is likely to have been driven by solid segmental growth.
The consensus mark for earnings per share stands at 48 cents, indicating decline of 4% year over year. The company’s indirect investment in The Dun and Bradstreet Corporation is likely to have weighed on its bottom line.
Black Knight has an impressive earnings surprise history, having surpassed estimates in the trailing four quarters, the beat being 4.3%, on average.
However, our model does not conclusively predict an earnings beat for Black Knight this time around as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
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WEX Inc. (NYSE:WEX) : This Maine-based provider of corporate card payment solutions in North and South America, the Asia Pacific, and Europe is set to release results before the opening bell.
The Zacks Consensus Estimate for revenues is pegged at $456.08 million, indicating a 19.6% increase from the year-ago quarter’s reported figure. The top line is expected to have benefited from strength across each of the three segments — Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions and contributions from large North American oil company portfolios, new customer additions, and strategic acquisitions.
The consensus mark for earnings per share stands at $2.56, indicating an increase of 21.3% from the prior-year quarter’s reported number. Operational performance is likely to have aided the bottom line.
WEX has an impressive earnings surprise history, having surpassed estimates in three of the trailing four quarters, the beat being 0.9%, on average.
However, our model does not predict an earnings beat for WEX in the quarter to be reported, as it has an Earnings ESP of -0.32% and a Zacks Rank #4.
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