PerkinElmer (NYSE: PKI) is expected to report Q2 earnings on Aug. 2. Here's what Wall Street wants to see.

The 10-second takeaway
Comparing the upcoming quarter with the prior-year quarter, average analyst estimates predict PerkinElmer's revenues will improve 12.2% and EPS will increase 11.9%.

The average estimate for revenue is $537.8 million. On the bottom line, the average EPS estimate is $0.47.

Revenue details
Last quarter, PerkinElmer recorded revenue of $510.9 million. GAAP reported sales were 14% higher than the prior-year quarter's $447.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.43. GAAP EPS of $0.19 for Q1 were 14% lower than the prior-year quarter's $0.22 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 46.3%, 150 basis points better than the prior-year quarter. Operating margin was 9.4%, 60 basis points worse than the prior-year quarter. Net margin was 4.4%, 120 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $2.16 billion. The average EPS estimate is $1.99.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 121 members out of 133 rating the stock outperform, and 12 members rating it underperform. Among 37 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 35 give PerkinElmer a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PerkinElmer is outperform, with an average price target of $29.50.