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DTE Energy (DTE) to Post Q4 Earnings: What's in the Cards?
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DTE Energy Company (DTE - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 8, before the opening bell.
In the last reported quarter, the company delivered a negative earnings surprise of 13.77%. DTE has a trailing four-quarter average earnings surprise of 0.31%.
Factors to Note
During the fourth quarter, DTE Energy’s service territories witnessed a warmer-than-normal weather pattern accompanied by below-normal precipitation. However, in November, DTE’s customers experienced snowfall. So, the overall impact of weather on its quarterly top-line performance is expected to have been moderate.
The Zacks Consensus Estimate for revenues is pegged at $4.97 billion, indicating an improvement of 11.1% year over year.
Higher earnings from its new RNG projects, opportunistic sales in the steel business and DTE’s Operation & Maintenance cost reduction efforts are expected to have boosted its bottom-line performance in the fourth quarter. Strong top-line expectations might have also benefitted earnings.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.97 per share, implying an improvement of 50.4% from the prior-year reported number.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for DTE Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -2.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three Utility players that have the right combination of elements to come up with an earnings beat this reporting cycle.
IDACORP (IDA - Free Report) has an Earnings ESP of +2.52% and a Zacks Rank #2 at present. The company delivered a four-quarter average earnings surprise of 13.25%.
The Zacks Consensus Estimate for IDA’s fourth-quarter sales is pegged at $429.84 million, indicating growth of 1.6% from that recorded in the prior-year quarter. The consensus mark for earnings stands at 60 cents per share.
NiSource (NI - Free Report) has an Earnings ESP of +1.92% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 52 cents per share, implying a 4% increase from that reported in the prior-year quarter.
The consensus mark for NI’s sales stands at $1.59 billion. The company delivered an earnings surprise of 35.71% in the last reported quarter.
The Southern Company (SO - Free Report) has an Earnings ESP of +2.95% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for fourth-quarter earnings is pinned at 59 cents per share, indicating a 126.9% increase year over year.
The Southern Company delivered a four-quarter average earnings surprise of 8.49%. The consensus mark for SO’s fourth-quarter sales is pegged at $7.74 billion, indicating growth of 9.8% from that recorded in the prior-year quarter.
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DTE Energy (DTE) to Post Q4 Earnings: What's in the Cards?
DTE Energy Company (DTE - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 8, before the opening bell.
In the last reported quarter, the company delivered a negative earnings surprise of 13.77%. DTE has a trailing four-quarter average earnings surprise of 0.31%.
Factors to Note
During the fourth quarter, DTE Energy’s service territories witnessed a warmer-than-normal weather pattern accompanied by below-normal precipitation. However, in November, DTE’s customers experienced snowfall. So, the overall impact of weather on its quarterly top-line performance is expected to have been moderate.
DTE Energy Company Price and EPS Surprise
DTE Energy Company price-eps-surprise | DTE Energy Company Quote
The Zacks Consensus Estimate for revenues is pegged at $4.97 billion, indicating an improvement of 11.1% year over year.
Higher earnings from its new RNG projects, opportunistic sales in the steel business and DTE’s Operation & Maintenance cost reduction efforts are expected to have boosted its bottom-line performance in the fourth quarter. Strong top-line expectations might have also benefitted earnings.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.97 per share, implying an improvement of 50.4% from the prior-year reported number.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for DTE Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -2.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: DTE currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three Utility players that have the right combination of elements to come up with an earnings beat this reporting cycle.
IDACORP (IDA - Free Report) has an Earnings ESP of +2.52% and a Zacks Rank #2 at present. The company delivered a four-quarter average earnings surprise of 13.25%.
The Zacks Consensus Estimate for IDA’s fourth-quarter sales is pegged at $429.84 million, indicating growth of 1.6% from that recorded in the prior-year quarter. The consensus mark for earnings stands at 60 cents per share.
NiSource (NI - Free Report) has an Earnings ESP of +1.92% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 52 cents per share, implying a 4% increase from that reported in the prior-year quarter.
The consensus mark for NI’s sales stands at $1.59 billion. The company delivered an earnings surprise of 35.71% in the last reported quarter.
The Southern Company (SO - Free Report) has an Earnings ESP of +2.95% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for fourth-quarter earnings is pinned at 59 cents per share, indicating a 126.9% increase year over year.
The Southern Company delivered a four-quarter average earnings surprise of 8.49%. The consensus mark for SO’s fourth-quarter sales is pegged at $7.74 billion, indicating growth of 9.8% from that recorded in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.