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California Water (CWT) to Report Q2 Earnings: What to Expect
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California Water Service Group (CWT - Free Report) is scheduled to release second-quarter 2024 results on Aug 1. The company has a trailing four-quarter average earnings surprise is 85.16%. Let us discuss the factors that are likely to have impacted its quarterly performance.
Factors to Consider
California Water’s second-quarter earnings per share are likely to have benefited from the implementation of new water rates in its service territories.
The company’s earnings, however are likely to have been adversely impacted by higher water production expenses and increased in depreciation and amortization expenses.
Expectations
The Zacks Consensus Estimate for CWT’s second-quarter sales is $200.3 million, which indicates an increase of 3.2% from the year-ago reported number.
The consensus estimate for earnings is pegged at 39 cents per share, which indicates an increase of 129.4% from the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for California Water 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.
California Water Service Group Price and EPS Surprise
Investors can consider the following players from the same sector, 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.
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 currently has an Earnings ESP of +6.12% and a Zacks Rank of 2.
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 past 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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California Water (CWT) to Report Q2 Earnings: What to Expect
California Water Service Group (CWT - Free Report) is scheduled to release second-quarter 2024 results on Aug 1. The company has a trailing four-quarter average earnings surprise is 85.16%. Let us discuss the factors that are likely to have impacted its quarterly performance.
Factors to Consider
California Water’s second-quarter earnings per share are likely to have benefited from the implementation of new water rates in its service territories.
The company’s earnings, however are likely to have been adversely impacted by higher water production expenses and increased in depreciation and amortization expenses.
Expectations
The Zacks Consensus Estimate for CWT’s second-quarter sales is $200.3 million, which indicates an increase of 3.2% from the year-ago reported number.
The consensus estimate for earnings is pegged at 39 cents per share, which indicates an increase of 129.4% from the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for California Water 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.
California Water Service Group Price and EPS Surprise
California Water Service Group price-eps-surprise | California Water Service Group 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. You can see the complete list of Zacks Rank #1 stocks here.
Stocks to Consider
Investors can consider the following players from the same sector, 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.
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 currently has an Earnings ESP of +6.12% and a Zacks Rank of 2.
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 past 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.