FLIR Systems (Nasdaq: FLIR) is expected to report Q2 earnings on July 26. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict FLIR Systems's revenues will compress 13.3% and EPS will contract 17.1%.

The average estimate for revenue is $338.1 million. On the bottom line, the average EPS estimate is $0.29.

Revenue details
Last quarter, FLIR Systems chalked up revenue of $348.5 million. GAAP reported sales were 7.3% lower than the prior-year quarter's $376.0 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 $0.32. GAAP EPS of $0.31 for Q1 were 3.1% lower than the prior-year quarter's $0.32 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 52.4%, 10 basis points better than the prior-year quarter. Operating margin was 19.6%, 70 basis points worse than the prior-year quarter. Net margin was 13.8%, 20 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $1.45 billion. The average EPS estimate is $1.43.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 790 members out of 816 rating the stock outperform, and 26 members rating it underperform. Among 145 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 142 give FLIR Systems a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FLIR Systems is outperform, with an average price target of $29.31.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.