Auto Stock Earnings Due On Jul 31: ALSN, FOXF, DAN, MTOR

Several important companies in the Auto sector such as Ford Motor Company (NYSE:F) , Tesla, Inc. (NASDAQ:TSLA) , LKQ Corporation (NASDAQ:LKQ) have reported their quarterly numbers for the quarter ending Jun 30, 2019.

While Ford reported earnings and revenues beat for the quarter under review, Tesla lagged estimates for both. LKQ’s quarterly earnings surpassed estimates while revenues missed the same.

Per the latest Earnings Preview, the auto sector’s earnings and revenues for the quarter under review are expected to decline 6.7% and 0.2%, respectively, on a year-over-year basis.

Automakers recently reported U.S. sales for June. The overall auto sales performance was mixed for the month as well as for the quarter under review. However, the auto space witnessed fairly strong demand for SUVs and pickup trucks while the same for passenger cars declined.

U.S. auto sales are witnessing a slowdown and the overall domestic new-vehicle sales are expected to decline this year. This can be attributed to rising interest rates and competition from off-lease vehicles and is likely to affect the to-be-reported quarter’s results.

Now, let’s assess a few important automakers, namely, Allison Transmission Holdings, Inc. (NYSE:ALSN) , Fox Factory Holding Corp. (NASDAQ:FOXF) , Dana Incorporated (NYSE:DAN) and Meritor, Inc. (NYSE:MTOR) which are slated to announce their quarterly numbers on Jul 31.

The Zacks methodology helps to find stocks with better prospect by combining a Zacks Rank #1 (Strong Buy) or 2 (Buy) or 3 (Hold) with a positive Earnings ESP.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Research shows that for stocks, with the combination of a favorable Zacks Rank and Earnings ESP, chances of a positive surprise are as high as 70%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Headquartered in Indianapolis, IN, Allison Transmission is a designer and manufacturer of fully-automatic transmissions for medium and heavy-duty commercial, and heavy-tactical U.S. defense vehicles.

Our proven model does not conclusively predict an earnings beat for the company in second-quarter 2019. This is because it currently has an Earnings ESP of -1.73% and a Zacks Rank of 3.