Calix (NYSE: CALX) is expected to report Q2 earnings on July 31. 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 Calix's revenues will contract -19.1% and EPS will decrease -75.0%.

The average estimate for revenue is $79.2 million. On the bottom line, the average EPS estimate is $0.04.

Revenue details
Last quarter, Calix recorded revenue of $78.6 million. GAAP reported sales were 9.9% higher than the prior-year quarter's $71.5 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 $0.01. GAAP EPS were -$0.16 for Q1 compared to -$0.55 per share for the prior-year quarter.

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 44.7%, 30 basis points worse than the prior-year quarter. Operating margin was -9.4%, 40 basis points worse than the prior-year quarter. Net margin was -9.6%, 2,220 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $338.2 million. The average EPS estimate is $0.25.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 77 members out of 83 rating the stock outperform, and six members rating it underperform. Among 16 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 14 give Calix 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 Calix is outperform, with an average price target of $10.75.

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