TaskUs (TASK) Reports Earnings Tomorrow: What To Expect

Digital outsourcing company TaskUs (NASDAQ:TASK) will be reporting results this Wednesday after market hours. Here’s what to look for.

TaskUs beat analysts’ revenue expectations last quarter, reporting revenues of $313 million, up 14.1% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations.

Is TaskUs 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 TaskUs’s revenue to grow 6.8% year on year, slowing from the 22.1% increase it recorded in the same quarter last year.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. TaskUs has a history of exceeding Wall Street’s expectations.

Looking at TaskUs’s peers in the business process outsourcing & consulting segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CBIZ delivered year-on-year revenue growth of 1.3%, missing analysts’ expectations by 0.6%, and Exponent reported revenues up 10.5%, topping estimates by 1.8%. CBIZ traded down 8% following the results while Exponent was also down 2.4%.

Read our full analysis of CBIZ’s results here and Exponent’s results here.

There has been positive sentiment among investors in the business process outsourcing & consulting segment, with share prices up 8.7% on average over the last month. TaskUs is down 4.5% during the same time and is heading into earnings with an average analyst price target of $12 (compared to the current share price of $6.42).

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