Forest Laboratories (NYSE: FRX) is expected to report Q2 earnings on Oct. 16. 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 Forest Laboratories's revenues will contract -33.7% and EPS will shrink -97.8%.

The average estimate for revenue is $775.2 million. On the bottom line, the average EPS estimate is $0.02.

Revenue details
 Last quarter, Forest Laboratories notched revenue of $821.1 million. GAAP reported sales were 29% lower than the prior-year quarter's $1.14 billion.

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, EPS came in at $0.21. GAAP EPS of $0.21 for Q1 were 77% lower than the prior-year quarter's $0.90 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 79.4%, 160 basis points better than the prior-year quarter. Operating margin was 8.8%, 2,080 basis points worse than the prior-year quarter. Net margin was 6.8%, 1,570 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $3.26 billion. The average EPS estimate is $0.64.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Forest Laboratories is hold, with an average price target of $36.41.