Aviat Networks, Inc. (AVNW) Beats Q3 Earnings Estimates

Core Insights - Aviat Networks, Inc. reported quarterly earnings of $0.73 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, but down from $0.75 per share a year ago, indicating an earnings surprise of 23.73% [1] - The company generated revenues of $111.61 million for the quarter, missing the Zacks Consensus Estimate by 1.71%, compared to $83.48 million in the same quarter last year [1] - The stock has underperformed the market with a 2.4% increase since the beginning of the year, compared to the S&P 500's 5.6% gain [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.09 on revenues of $130.53 million, and for the current fiscal year, it is $3.53 on revenues of $426.68 million [4] - The estimate revisions trend for Aviat Networks is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [4] Industry Context - The Wireless Equipment industry, to which Aviat Networks belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - ViaSat, another company in the same industry, is expected to report a quarterly loss of $0.60 per share, reflecting a year-over-year change of -103.9%, with revenues projected at $1.11 billion, a 67% increase from the previous year [5]