What To Expect From Procore Technologies’s (PCOR) Q2 Earnings

What To Expect From Procore Technologies's (PCOR) Q2 Earnings

Construction management software provider Procore Technologies (NYSE:PCOR) will be reporting earnings this Wednesday after market close. Here's what to expect.

Procore Technologies beat analysts' revenue expectations last quarter, reporting revenues of $359.3 million, up 15.7% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts' adjusted operating income estimates but billings in line with analysts' estimates.

Is Procore Technologies a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members.

This quarter, the market is expecting Procore Technologies's revenue to grow 12.9% year on year, slowing from the 13.9% increase it recorded in the same quarter last year.Procore Technologies Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Procore Technologies has a history of exceeding Wall Street's expectations.

Looking at Procore Technologies's peers in the vertical software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cadence Design Systems delivered year-on-year revenue growth of 24.2%, beating analysts' expectations by 0.5%, and Agilysys reported revenues up 14.3%, topping estimates by 1.7%.

Read our full analysis of Cadence Design Systems's results here and Agilysys's results here.

There has been positive sentiment among investors in the vertical software segment, with share prices up 6.9% on average over the last month. Procore Technologies is up 13.6% during the same time and is heading into earnings with an average analyst price target of $66.55 (compared to the current share price of $46.60).

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