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PNM Resourses (PNM) to Report Q2 Earnings: What's in the Cards?
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PNM Resources, Inc. (PNM - Free Report) is scheduled to release second-quarter 2024 results on Jul 31. The company has a trailing four-quarter average earnings surprise is 2.19%. Let’s discuss the factors that are likely to have affected the upcoming quarterly results.
Factors to Consider
PNM’s service territories experienced above-normal temperature patterns for the majority of the second quarter. This is likely to have boosted electricity demand from its customers for cooling purposes, which is expected to have contributed favorably to its quarterly sales. The company’s earnings are likely to have benefited from new rates implemented during the first quarter.
However, higher interest expenses, increasing depreciation and dilution from new shares are likely to have adversely impacted earnings.
Expectations
The Zacks Consensus Estimate for PNM’s sales is $507 million, which indicates an increase of 6.25% from the year-ago reported number.
The consensus estimate for earnings is pegged at 55 cents per share, equal to the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for PNM this time around. 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 seen below.
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Stocks to Consider
Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
The AES Corporation (AES - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +10.20% and a Zacks Rank of 2 at present. You can see the complete list of Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $3.17 billion, which indicates a 4.7% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 57.1%.
Xcel Energy Inc. (XEL - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $3.23 billion, which indicates a 6.8% improvement from the year-ago quarter’s figure. The consensus estimate for earnings has increased 8.9% in the last 90 days.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +0.38% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $6.27 billion, which indicates a 9.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 15.2%.
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PNM Resourses (PNM) to Report Q2 Earnings: What's in the Cards?
PNM Resources, Inc. (PNM - Free Report) is scheduled to release second-quarter 2024 results on Jul 31. The company has a trailing four-quarter average earnings surprise is 2.19%. Let’s discuss the factors that are likely to have affected the upcoming quarterly results.
Factors to Consider
PNM’s service territories experienced above-normal temperature patterns for the majority of the second quarter. This is likely to have boosted electricity demand from its customers for cooling purposes, which is expected to have contributed favorably to its quarterly sales. The company’s earnings are likely to have benefited from new rates implemented during the first quarter.
However, higher interest expenses, increasing depreciation and dilution from new shares are likely to have adversely impacted earnings.
Expectations
The Zacks Consensus Estimate for PNM’s sales is $507 million, which indicates an increase of 6.25% from the year-ago reported number.
The consensus estimate for earnings is pegged at 55 cents per share, equal to the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for PNM this time around. 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 seen below.
PNM Resources, Inc. Price and EPS Surprise
PNM Resources, Inc. price-eps-surprise | PNM Resources, Inc. Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Stocks to Consider
Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
The AES Corporation (AES - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +10.20% and a Zacks Rank of 2 at present. You can see the complete list of Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $3.17 billion, which indicates a 4.7% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 57.1%.
Xcel Energy Inc. (XEL - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $3.23 billion, which indicates a 6.8% improvement from the year-ago quarter’s figure. The consensus estimate for earnings has increased 8.9% in the last 90 days.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +0.38% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $6.27 billion, which indicates a 9.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 15.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.