Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-08-02.
The tape is splitting: analysts have been marking revenue estimates lower over the past six months while nudging normalized EPS higher, a margin-driven revision cycle. That reads directly in the print record, where SPS has beaten on normalized EPS every quarter for two years, mostly by double digits, even as revenue merely meets consensus. The street stays cautious on it, with eight of twelve ratings at hold and targets ranging from 59 to 103.
FY2027 EPS estimates up ~3% over six months while revenue estimates fall ~3%
The same divergence holds for FY2028, where revenue has been cut from 937 to 904 since February while EPS sits roughly flat. Lower revenue with steady-to-higher EPS points to margin, not top-line, as the source of the upgrades.
Currency: USD · Scale: money in millions, absolute · Point-in-time consensus; Δ90d is Now versus 90d.
| Metric | FY | 180d | 90d | 30d | Now | Δ90d |
|---|---|---|---|---|---|---|
| EPS (normalized) | FY2027 | $5.16 | $5.24 | $5.22 | $5.31 | +1.4% |
| EPS (normalized) | FY2028 | — | $6.04 | $5.99 | $6.00 | -0.7% |
| Revenue | FY2027 | $870.46m | $855.07m | $852.51m | $841.24m | -1.6% |
| Revenue | FY2028 | $937.00m | $925.75m | $918.70m | $903.76m | -2.4% |
Normalized EPS has beaten every quarter for two years while revenue only meets
Revenue surprises stay inside roughly plus or minus 2%, so the earnings upside is coming from margin rather than volume — consistent with the estimate momentum above.
Current sequences by metric: Revenue: 1 consecutive beat; EPS (normalized): 8 consecutive beats.
Currency: USD · Scale: money in millions, absolute · Consensus is captured before each actual first became effective.
| Quarter | Metric | Consensus | Actual | Surprise | Outcome |
|---|---|---|---|---|---|
| Q2 FY2026 | Revenue | $195.45m | $197.81m | +1.2% | Beat |
| Q2 FY2026 | EPS (normalized) | $1.09 | $1.27 | +16.0% | Beat |
| Q1 FY2026 | Revenue | $192.71m | $192.12m | -0.3% | Miss |
| Q1 FY2026 | EPS (normalized) | $0.98 | $1.10 | +12.5% | Beat |
| Q4 FY2025 | Revenue | $193.60m | $192.65m | -0.5% | Miss |
| Q4 FY2025 | EPS (normalized) | $1.01 | $1.14 | +13.1% | Beat |
| Q3 FY2025 | Revenue | $192.68m | $189.90m | -1.4% | Miss |
| Q3 FY2025 | EPS (normalized) | $1.00 | $1.13 | +13.3% | Beat |
| Q2 FY2025 | Revenue | $185.83m | $187.40m | +0.8% | Beat |
| Q2 FY2025 | EPS (normalized) | $0.91 | $1.00 | +10.3% | Beat |
| Q1 FY2025 | Revenue | $179.02m | $181.55m | +1.4% | Beat |
| Q1 FY2025 | EPS (normalized) | $0.85 | $1.00 | +18.1% | Beat |
| Q4 FY2024 | Revenue | $169.29m | $170.91m | +1.0% | Beat |
| Q4 FY2024 | EPS (normalized) | $0.87 | $0.89 | +2.8% | Beat |
| Q3 FY2024 | Revenue | $160.30m | $163.69m | +2.1% | Beat |
| Q3 FY2024 | EPS (normalized) | $0.83 | $0.92 | +11.3% | Beat |
Revenue compounds ~6-7% a year as EBITDA and EPS climb faster on margin expansion
Implied EBITDA margin rises from roughly 34% in FY2026 toward 36% by FY2028, the mechanism behind EPS growing faster than revenue.
Currency: USD · Scale: money in millions, absolute · YoY uses the prior fiscal year from the feed; analyst count and range use the first displayed period.
| Metric | FY2026E | FY2027E | FY2028E | YoY | Analysts | Low / high |
|---|---|---|---|---|---|---|
| Revenue | $791.20m | $841.24m | $903.76m | +5.3% | 12 | $789.80m / $796.05m |
| EBITDA | $266.55m | $293.94m | $329.12m | +15.2% | 8 | $265.87m / $267.70m |
| EPS (normalized) | $4.91 | $5.31 | $6.00 | +15.0% | 11 | $4.88 / $5.02 |
Street sits mostly on the sidelines: eight holds of twelve, one sell, targets 59-103
Currency: USD · Scale: money in millions, absolute · Analyst counts shown explicitly.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 2, Outperform 1, Hold 8, Underperform 0, Sell 1 | 12 |
| Consensus score | 2.75 | 12 |
| Target price | mean $72.73; median $70.00; high $103.0; low $59.00 | 11 |
Outer-year coverage thins sharply into FY2028
FY2028 revenue, EBITDA and normalized EPS each carry only about five analysts, and GAAP net income just three, versus nine to twelve for FY2027. Treat the FY2028 column as thin consensus, not a firm base.