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California Water (CWT) to Post Q1 Earnings: What to Expect
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California Water Service Group (CWT - Free Report) is scheduled to release first-quarter 2024 earnings on Apr 25, before market open. The company delivered a negative earnings surprise of 65.3% in the last reported quarter.
Let’s discuss the factors likely to be reflected in the upcoming quarterly results.
Factors at Play
During the first quarter, California Water is expected to have benefited from stable performance of its organic assets. Contributions from assets acquired in the fourth quarter of 2023 are expected to have boosted earnings in the first quarter.
However, still high interest rates are likely to have adversely impacted earnings in the first quarter.
Expectation
The Zacks Consensus Estimate for earnings is pegged at 21 cents per share on total revenues of $170.6 million. The top and bottom-line projected figures imply growth of 30.14% and152.5% from the year-ago levels, respectively.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CWT this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that is not the case here, as you will see below.
California Water Service Group Price and EPS Surprise
Investors can consider the following players from the same sector that, per our model, have the right combination of elements to beat on earnings in the upcoming releases.
Entergy Corporation (ETR - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on Apr 24. It has an Earnings ESP of +5.71% and a Zacks Rank #3 at present.
ETR’s long-term (three-to-five years) earnings growth rate is 7.01%. The Zacks Consensus Estimate for earnings has moved up 5.3% in the past 60 days.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter 2024 earnings on May 1. It has an Earnings ESP of +0.98% and a Zacks Rank #3 at present.
PPL’s long-term earnings growth rate is 6.5%. The Zacks Consensus Estimate for earnings has moved up 2% in the past 60 days.
Exelon Corporation (EXC - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on May 2. It has an Earnings ESP of +1.41% and a Zacks Rank #3 at present.
EXC’s long-term earnings growth rate is 5.69%. The Zacks Consensus Estimate for earnings has moved up 1.4% in the past 30 days.
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California Water (CWT) to Post Q1 Earnings: What to Expect
California Water Service Group (CWT - Free Report) is scheduled to release first-quarter 2024 earnings on Apr 25, before market open. The company delivered a negative earnings surprise of 65.3% in the last reported quarter.
Let’s discuss the factors likely to be reflected in the upcoming quarterly results.
Factors at Play
During the first quarter, California Water is expected to have benefited from stable performance of its organic assets. Contributions from assets acquired in the fourth quarter of 2023 are expected to have boosted earnings in the first quarter.
However, still high interest rates are likely to have adversely impacted earnings in the first quarter.
Expectation
The Zacks Consensus Estimate for earnings is pegged at 21 cents per share on total revenues of $170.6 million. The top and bottom-line projected figures imply growth of 30.14% and152.5% from the year-ago levels, respectively.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CWT this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that is not the case here, as you will see below.
California Water Service Group Price and EPS Surprise
California Water Service Group price-eps-surprise | California Water Service Group Quote
Earnings ESP: CWT has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CWT carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector that, per our model, have the right combination of elements to beat on earnings in the upcoming releases.
Entergy Corporation (ETR - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on Apr 24. It has an Earnings ESP of +5.71% and a Zacks Rank #3 at present.
ETR’s long-term (three-to-five years) earnings growth rate is 7.01%. The Zacks Consensus Estimate for earnings has moved up 5.3% in the past 60 days.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter 2024 earnings on May 1. It has an Earnings ESP of +0.98% and a Zacks Rank #3 at present.
PPL’s long-term earnings growth rate is 6.5%. The Zacks Consensus Estimate for earnings has moved up 2% in the past 60 days.
Exelon Corporation (EXC - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on May 2. It has an Earnings ESP of +1.41% and a Zacks Rank #3 at present.
EXC’s long-term earnings growth rate is 5.69%. The Zacks Consensus Estimate for earnings has moved up 1.4% in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.