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Xcel Energy (XEL) to Report Q2 Earnings: What's in Store?
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Xcel Energy (XEL - Free Report) is scheduled to release second-quarter 2024 earnings on Aug 1, before market open. The company delivered an earnings surprise of 10% in the last reported quarter.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 49 cents per share on revenues of $3.23 billion.
Per our proven model, stocks with a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) are likely to beat on earnings. At present, Xcel Energy has an Earnings ESP of +6.12% and a Zacks Rank of 2. Hence, it is presumed that Xcel Energy is likely to beat estimates this earnings season.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The second-quarter earnings are likely to have benefited from higher demand from data centers and the company’s proactive measures to save its systems and customers from extreme weather conditions.
Xcel Energy’s second-quarter performance is expected to have benefited from electric customer additions and consequent rise in demand. The interim electric and natural gas rate approval in the first half of the year is anticipated to have positively impacted earnings.
Other Stocks to Consider
Investors can consider the following players from the same industry, as our model shows that these, too, have the right combination of elements to beat on earnings this reporting cycle.
The Zacks Consensus Estimate for second-quarter 2024 earnings per share has moved up by 25% in the past 60 days.
The AES Corporation (AES - Free Report) is likely to pull off an earnings beat when it reports second-quarter 2024 earnings on Aug 2. It has an Earnings ESP of +10.20% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for second-quarter 2024 earnings per share has moved up by 17.8% in the past 60 days.
The Southern Company (SO - Free Report) is likely to pull off an earnings beat when it reports second-quarter 2024 earnings on Aug 1. It has an Earnings ESP of +0.38% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for second-quarter 2024 earnings per share has moved up by 17.8% in the past 60 days.
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Xcel Energy (XEL) to Report Q2 Earnings: What's in Store?
Xcel Energy (XEL - Free Report) is scheduled to release second-quarter 2024 earnings on Aug 1, before market open. The company delivered an earnings surprise of 10% in the last reported quarter.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 49 cents per share on revenues of $3.23 billion.
Per our proven model, stocks with a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) are likely to beat on earnings. At present, Xcel Energy has an Earnings ESP of +6.12% and a Zacks Rank of 2. Hence, it is presumed that Xcel Energy is likely to beat estimates this earnings season.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Xcel Energy Inc. Price and EPS Surprise
Xcel Energy Inc. price-eps-surprise | Xcel Energy Inc. Quote
Factors to Consider
The second-quarter earnings are likely to have benefited from higher demand from data centers and the company’s proactive measures to save its systems and customers from extreme weather conditions.
Xcel Energy’s second-quarter performance is expected to have benefited from electric customer additions and consequent rise in demand. The interim electric and natural gas rate approval in the first half of the year is anticipated to have positively impacted earnings.
Other Stocks to Consider
Investors can consider the following players from the same industry, as our model shows that these, too, have the right combination of elements to beat on earnings this reporting cycle.
TransAlta Corporation (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter earnings on Aug 1. It has an Earnings ESP of +20.00% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for second-quarter 2024 earnings per share has moved up by 25% in the past 60 days.
The AES Corporation (AES - Free Report) is likely to pull off an earnings beat when it reports second-quarter 2024 earnings on Aug 2. It has an Earnings ESP of +10.20% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for second-quarter 2024 earnings per share has moved up by 17.8% in the past 60 days.
The Southern Company (SO - Free Report) is likely to pull off an earnings beat when it reports second-quarter 2024 earnings on Aug 1. It has an Earnings ESP of +0.38% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for second-quarter 2024 earnings per share has moved up by 17.8% in the past 60 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.