Earnings To Watch: TaskUs (TASK) Reports Q2 Results Tomorrow

Digital outsourcing company TaskUs (NASDAQ:TASK) will be reporting results this Wednesday afternoon. Here’s what you need to know.

TaskUs beat analysts’ revenue expectations last quarter, reporting revenues of $306.3 million, up 10.3% year on year. It was a mixed quarter for the company, with EPS in line with analysts’ estimates but full-year revenue guidance meeting 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 1.1% year on year, slowing from the 23.6% increase it recorded in the same quarter last year.

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. 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 Q2 results, giving us a hint as to what we can expect. Huron delivered year-on-year revenue growth of 15.4%, beating analysts’ expectations by 3.2%, and CBIZ reported flat revenue, falling short of estimates by 2.3%. Huron traded up 40.4% following the results while CBIZ was also up 18.3%.

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

There has been positive sentiment among investors in the business process outsourcing & consulting segment, with share prices up 5.3% on average over the last month. TaskUs is up 22.8% during the same time and is heading into earnings with an average analyst price target of $9.50 (compared to the current share price of $6.37).

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