Medical Service Q3 Earnings Slated On Nov 3: AMN, AIRM, MEDP

The Q3 earnings season is in full swing right now. As per the latest Earnings Outlook, 332 S&P companies have already disclosed their numbers as of Nov 1. Notably, reported earnings increased 1.9% year over year on a 1.3% rise in revenues, with the beat ratio being 72.9% for earnings and 55.4% for revenues.

The current week is witnessing a plethora of earnings releases as many bigwigs are lined up to report their quarterly numbers. Notably, the third-quarter earnings season is projected to be the first to see positive earnings growth after five consecutive quarters of decline, courtesy of improving growth trends, a string of positive surprises and stability in current-quarter estimates.

Medical is one of the major broader sectors among the 16 Zacks sectors in the S&P 500 cohort expected to report earnings growth in the third quarter. The sector is likely to report earnings growth of 6% on revenue improvement of 7.3%.

Medical service, as defined by Zacks, is a niche area under the medical device subcategory within the broader Medical sector. Accordingly, it holds more promise right now. Currently, the medical services space is ranked the 81st best industry out of the 265 industries covered by Zacks.

Here, we take a sneak peek into three medical services stock stocks set to report their third-quarter figures on Nov 3:

AMN Healthcare Services, Inc. (NYSE:AMN) provides healthcare workforce solutions and staffing services in the United States. It delivers managed services programs, healthcare executive search solutions, vendor management systems, recruitment process outsourcing, predictive modeling, medical coding and consulting, and other services. Last quarter, this company beat the estimate by 17.31%. AMN Healthcare has an Earnings ESP of +1.79% as the Most Accurate estimate stands at 57 cents per share, which is higher than the Zacks Consensus Estimate of 56 cents. Thus, the company is likely to beat on earnings, given the combination of a positive ESP and a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here .

With respect to the surprise trend, AMN Healthcare surpassed expectations in each of the last four quarters, with an average beat of 21.25%.

Air Methods Corporation (NASDAQ:AIRM) is an American publicly owned helicopter operator. Its Domestic Air Medical Division provides emergency medical services to 100,000 patients every year, and serves 48 states and Haiti. Last quarter, this company missed the estimate by 6.67%. Air Methods has an Earnings ESP of -1.96% as the Most Accurate estimate stands at $1.00 per share, lower than the Zacks Consensus Estimate of $1.02 per share. The company carries a Zacks Rank #4 (Sell), which lowers the predictive power of ESP. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.

With respect to the surprise trend, Air Methods surpassed expectations in three of the last four quarters, with the average beat being 9.22%.

Medpace Holdings, Inc. (NASDAQ:MEDP) is a full-service clinical contract research organization (CRO) providing Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. However, our proven model does not conclusively show that the company is likely to beat on earnings, given the combination of an Earnings ESP of 0.00% – as both the Zacks Consensus Estimate and the Most Accurate estimate are pegged at 34 cents – and a Zacks Rank #3.

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