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Primo Water (PRMW) to Post Q2 Earnings: What's in Store?
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Primo Water (PRMW - Free Report) is scheduled to release second-quarter 2023 earnings on Aug 10, before market open.
The company delivered a negative earnings surprise of 18.18% in the last reported quarter. The stock boasts a four-quarter average earnings surprise of 0.71%.
Factors to Note
Volume growth in PRMW’s Water Direct and Exchange and solid revenues in Water Refill and Filtration are likely to have boosted second-quarter earnings.
Increased dispenser sell-through and high customer retention might have boosted PRMW’s second-quarter revenues. Ongoing repurchase of shares is likely to have had a positive impact on second-quarter earnings.
Expectations
Primo Water expects second-quarter revenues to be in the range of $575-$595 million.
The Zacks Consensus Estimate for second-quarter revenues and earnings per share is pegged at $586.22 million and 21 cents, respectively. The second-quarter earnings figure indicates no change from the year-ago quarter, while that for revenues implies a 2.6% increase.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Primo 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. That is not the case here, as you will see below.
Investors can consider the following utility and energy players that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
ONEOK (OKE - Free Report) is scheduled to report second-quarter 2023 results on Aug 7, after market close. It has an Earnings ESP of +3.11% and a Zacks Rank of 3.
OKE’s long-term earnings growth rate is pegged at 6.3%. The Zacks Consensus Estimate for second-quarter earnings is pegged at $1 per share, indicating an 8.7% increase from the prior-year figure.
ALLETE Inc. (ALE - Free Report) is set to report second-quarter 2023 results on Aug 8, before market open. It has an Earnings ESP of +2.56% and a Zacks Rank of 3, at present.
ALE’s long-term earnings growth rate is pegged at 8.1%. The Zacks Consensus Estimate for second-quarter sales stands at $378.53 million, indicating a 1.5% increase from the prior-year figure.
Clean Energy Fuels (CLNE - Free Report) is set to report second-quarter 2023 results on Aug 9, after market close. It has an Earnings ESP of +68.75% and a Zacks Rank of 2.
The Zacks Consensus Estimate for its second-quarter sales stands at $103.59 million, indicating a 6.5% increase from the prior-year figure. The Zacks Consensus Estimate for current-year earnings has moved up 25% in the past 60 days.
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Primo Water (PRMW) to Post Q2 Earnings: What's in Store?
Primo Water (PRMW - Free Report) is scheduled to release second-quarter 2023 earnings on Aug 10, before market open.
The company delivered a negative earnings surprise of 18.18% in the last reported quarter. The stock boasts a four-quarter average earnings surprise of 0.71%.
Factors to Note
Volume growth in PRMW’s Water Direct and Exchange and solid revenues in Water Refill and Filtration are likely to have boosted second-quarter earnings.
Increased dispenser sell-through and high customer retention might have boosted PRMW’s second-quarter revenues. Ongoing repurchase of shares is likely to have had a positive impact on second-quarter earnings.
Expectations
Primo Water expects second-quarter revenues to be in the range of $575-$595 million.
The Zacks Consensus Estimate for second-quarter revenues and earnings per share is pegged at $586.22 million and 21 cents, respectively. The second-quarter earnings figure indicates no change from the year-ago quarter, while that for revenues implies a 2.6% increase.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Primo 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. That is not the case here, as you will see below.
Primo Water Corporation Price and EPS Surprise
Primo Water Corporation price-eps-surprise | Primo Water Corporation Quote
Earnings ESP: The company’s Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Primo Water carries a Zacks Rank #3.
You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following utility and energy players that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
ONEOK (OKE - Free Report) is scheduled to report second-quarter 2023 results on Aug 7, after market close. It has an Earnings ESP of +3.11% and a Zacks Rank of 3.
OKE’s long-term earnings growth rate is pegged at 6.3%. The Zacks Consensus Estimate for second-quarter earnings is pegged at $1 per share, indicating an 8.7% increase from the prior-year figure.
ALLETE Inc. (ALE - Free Report) is set to report second-quarter 2023 results on Aug 8, before market open. It has an Earnings ESP of +2.56% and a Zacks Rank of 3, at present.
ALE’s long-term earnings growth rate is pegged at 8.1%. The Zacks Consensus Estimate for second-quarter sales stands at $378.53 million, indicating a 1.5% increase from the prior-year figure.
Clean Energy Fuels (CLNE - Free Report) is set to report second-quarter 2023 results on Aug 9, after market close. It has an Earnings ESP of +68.75% and a Zacks Rank of 2.
The Zacks Consensus Estimate for its second-quarter sales stands at $103.59 million, indicating a 6.5% increase from the prior-year figure. The Zacks Consensus Estimate for current-year earnings has moved up 25% in the past 60 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.