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What's in Store for Essential Utilities (WTRG) in Q4 Earnings?
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Essential Utilities (WTRG - Free Report) is scheduled to release fourth-quarter 2023 earnings on Feb 22 after market close. The company delivered a positive earnings surprise of 3.45% in the last quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
Essential Utilities’ fourth-quarter earnings are likely to have benefited from new electric and natural gas rates implemented in its service territories.
Moreover, the company’s fourth-quarter earnings are likely to have gained from accretive acquisitions made by Essential Utilities during 2023. In 2023, the company acquired seven systems, which collectively added more than $44.5 million to the rate base.
Expectations
The Zacks Consensus Estimate for WTRG’s earnings is pegged at 49 cents per share, implying a year-over-year increase of 11.36%.
The Zacks Consensus Estimate for fourth-quarter sales stands at $666.83 million, suggesting a decrease of 5.47% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Essential Utilities 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, which is not the case here, as you will see below.
Investors can consider the following players from the same sector as these have the right combination of elements to beat on earnings in the upcoming releases.
Dominion Energy (D - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter 2023 earnings on Feb 22 before market open. It has an Earnings ESP of +0.63% and presently carries a Zacks Rank of 3.
Sempra Energy (SRE - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings on Feb 27 before market open. It has an Earnings ESP of +1.18% and a Zacks Rank of 3 at present.
Southwest Gas (SWX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings on Feb 28. It has an Earnings ESP of +1.45% and carries a Zacks Rank of 3 at present.
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What's in Store for Essential Utilities (WTRG) in Q4 Earnings?
Essential Utilities (WTRG - Free Report) is scheduled to release fourth-quarter 2023 earnings on Feb 22 after market close. The company delivered a positive earnings surprise of 3.45% in the last quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
Essential Utilities’ fourth-quarter earnings are likely to have benefited from new electric and natural gas rates implemented in its service territories.
Moreover, the company’s fourth-quarter earnings are likely to have gained from accretive acquisitions made by Essential Utilities during 2023. In 2023, the company acquired seven systems, which collectively added more than $44.5 million to the rate base.
Expectations
The Zacks Consensus Estimate for WTRG’s earnings is pegged at 49 cents per share, implying a year-over-year increase of 11.36%.
The Zacks Consensus Estimate for fourth-quarter sales stands at $666.83 million, suggesting a decrease of 5.47% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Essential Utilities 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, which is not the case here, as you will see below.
Essential Utilities Inc. Price and EPS Surprise
Essential Utilities Inc. price-eps-surprise | Essential Utilities Inc. Quote
Earnings ESP: WTRG 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, WTRG 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 as these have the right combination of elements to beat on earnings in the upcoming releases.
Dominion Energy (D - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter 2023 earnings on Feb 22 before market open. It has an Earnings ESP of +0.63% and presently carries a Zacks Rank of 3.
Sempra Energy (SRE - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings on Feb 27 before market open. It has an Earnings ESP of +1.18% and a Zacks Rank of 3 at present.
Southwest Gas (SWX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings on Feb 28. It has an Earnings ESP of +1.45% and carries a Zacks Rank of 3 at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.