Gartner Set to Report Q3 Earnings: Here's What You Should Know

Gartner Inc. (IT - Free Report) is set to announce its third-quarter 2024 earnings on November 5, before the market opens.

Stay informed about market-moving events with the Zacks Earnings Calendar.

The company has shown a strong record of exceeding earnings estimates, achieving this milestone in the last four quarters with an average surprise of 17.4%.

Gartner’s Q3 Expectations

The Zacks Consensus Estimate for Gartner's revenue stands at $1.5 billion, reflecting a 4.6% increase compared to the revenue reported in the same quarter last year. This growth is likely attributed to the company's value proposition for clients and its ability to exploit market opportunities.

Research revenues are anticipated to have grown due to an increase in new business from Global Business Sales, along with heightened contract values in Global Technology Sales. Furthermore, Gartner Conferences are expected to have attracted significant participation, enabling the company to share valuable insights. Additionally, consulting revenues are likely to have risen due to increasing demand for labor-based services, along with strong booking activity and effective contract management.

On the profit side, the consensus estimate for earnings per share is estimated at $2.5, indicating a 4.3% decline compared to the previous year.

What Our Model Predicts for IT

Based on our analysis, Gartner is expected to beat earnings estimates this quarter. The likelihood of an earnings surprise appears higher given the positive Earnings ESP combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold). This assessment provides a solid framework to identify promising stocks ahead of their earnings announcements.

Gartner currently boasts an Earnings ESP of +10.44% along with a Zacks Rank of 2.

Other Stocks Worth Watching

In addition to Gartner, several other companies within the Business Services sector also have promising indicators for strong earnings this season:

BlackSky Technology (BKSY - Free Report): The Zacks Consensus Estimate for BlackSky's revenues in the third-quarter 2024 is set at $107.7 million, showing a year-over-year increase of 14%. The anticipated loss per share is around $2.3, better than the $3.9 loss reported in the third-quarter 2023. In recent quarters, the company has performed variably, meeting or exceeding estimates in two of the last four quarters, yielding an average surprise of 10.1%.

BKSY has an Earnings ESP of +29.51% with a current Zacks Rank of 1. The company plans to report its third-quarter 2024 results on November 7.

Cantaloupe (CTLP - Free Report): The Zacks Consensus Estimate for Cantaloupe's first-quarter fiscal 2025 revenues is projected at $311.8 million, suggesting a significant year-over-year increase of 16.1%. Earnings are projected at 31 cents a share, more than doubling from the same quarter last year. Cantaloupe has demonstrated a strong track record, beating estimates in three out of the last four quarters, with an average surprise rate of 45%.

CTLP currently has an Earnings ESP of +25.00% and a Zacks Rank of 2. It is also expected to announce its first-quarter results on November 7.

Earnings, Stocks, Gartner