Construction Stocks Earnings Due On Jul 27: MAS, EXP & More
Zacks Investment Research | Jul 25, 2017 11:14PM ET
So far, the Q2 earnings season has seen quarterly releases from 38.5% of the construction companies in the S&P 500 cohort. According to the latest Earnings Trend, 80% of the companies have surpassed earnings as well as revenue estimates. Total earnings of these construction companies increased 8.3% and total revenues rose 14.6%.
Overall, construction companies seem to be on solid ground. The construction sector’s earnings are expected to increase 15.8% in Q2 compared with 9% in the earlier quarter. Revenues are also expected to improve 8.4% (6.8% growth in Q1).
Positives such as an improving economy, modest wage growth, low unemployment levels and positive consumer confidence raise optimism about the sector’s performance in 2017. As such, demand for companies’ products should also increase, thereby driving revenues.
So far, some of the leading companies in the construction sector have reported their Q2 results. PulteGroup Inc.’s (NYSE:PHM) second-quarter 2017 adjusted earnings of 47 cents per share beat the Zacks Consensus Estimate by 4.4%. Also, quarterly earnings reflected a solid 27% year over year jump. PulteGroup’s total revenues of $2.02 billion missed the Zacks Consensus Estimate by a meager 0.5%. Revenues, however, increased 12.3% year over year, owing to a rise in the number of homes delivered.
NVR, Inc. (NYSE:NVR) , one of the country’s largest homebuilding and mortgage-banking companies, reported second-quarter 2017 earnings of $35.19 per share, surpassing the Zacks Consensus Estimate by 22.9%. The reported figure also rose 60% from the year-ago profit level. Total revenues (Homebuilding & Mortgage Banking fees) increased 11% year over year.
Let us take a look at how the following construction companies are placed ahead of their quarterly release on Jul 27.
Masco Corporation (NYSE:MAS) is slated to release its second-quarter 2017 results on Jul 27, 2017, before the market opens.
Last quarter, the company delivered a positive earnings surprise of 17.14%. The company surpassed estimates in two of the trailing four quarters, with an average beat of 3.53%.
Currently, the company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate is pegged at 60 cents.
Also, Masco carries a Zacks Rank #2 (Buy). Our proven model does not conclusively show an earnings beat for this company this quarter, as a stock needs to have both a positive Zacks Investment Research
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