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Can Pure Storage Beat Wall Street Estimates in Q1?


May. 17 2019, Published 10:08 a.m. ET

Analysts expect revenue growth of 30%

Pure Storage (PSTG) is set to announce its results for the first quarter of fiscal 2020 (quarter ended in April) on May 21. Wall Street analysts expect Pure Storage to post revenue of $331.16 million, a rise of 30.2% year-over-year from $255.94 million in the first quarter of 2019.

Pure Storage’s sales are then expected to rise by 28.5% to $396.95 million in the second quarter of fiscal 2020. Pure Storage’s first-quarter sales have risen at a compound annual growth rate of 51% annually from $74 million in the first quarter of fiscal 2016 to $256 million in the first quarter of fiscal 2019.

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Pure Storage’s earnings

While PSTG’s sales are expected to rise 30.2%, analysts expect the company’s adjusted EPS to be flat in the first quarter at -$0.07, which indicates a low operating leverage in Q1. PSTG beat analysts’ earnings estimates in three of the last four quarters. The company posted EPS of $0.14 in the fourth quarter, 17.6% lower than analysts’ estimate of $0.17. The company posted EPS of $0.13 in the third quarter, 44.4% higher than the estimate of $0.09.

As the chart above shows, PSTG reported EPS of $0.01 in the second quarter of 2019, 117% higher than analysts’ estimate of -$0.01. The company also reported EPS of -$0.07 in the first quarter of 2019, which was 42% above analysts’ estimate of -$0.12.


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