Sierra Wireless Reports Better Than Expected Q2 Results, No Guidance Provided

Sierra Wireless, Inc. (NASDAQ:SWIR) reported its Q2 results, with EPS of $0.43 coming in better than the Street estimate of $0.23. Revenue grew 44% year-over-year to $188 million, beating the Street estimate of $172.96 million.

The company did not provide guidance for Q3 or 2022, which is in line with the commentary provided with pre-announced Q2 results.

Following the results, analysts at RBC Capital adjusted their estimates to reflect Q2 actuals and assume that near-term momentum carries through Q3. As a result, their full 2022-year estimates increase to $717 million in revenue and $73 million in adjusted EBITDA from $695 million and $62 million, respectively.