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Just Energy (JE) Q4 Earnings Miss Estimates, Gives '18 View
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Just Energy Group Inc. reported adjusted earnings of 17 cents per share in the fourth quarter of fiscal 2017, lagging the Zacks Consensus Estimate earnings of 28 cents. Reported earnings were however higher than the prior-year quarter earnings of 12 cents per share.
Total Revenue
Just Energy reported sales of $3,757.1 million for fiscal-year 2017, a decrease of 8% from sales of $4,105.9 million in the prior year, primarily a result of the decline in customer base and lower impact from foreign currency translation.
The company reported sales of $947.3 million for the fourth quarter, beating the Zacks Consensus Estimate of $815 million by 16.2%. However, quarterly revenues were down 8.7% from $1,075.9 million on a year-over-year basis.
Highlights of the Release
Administrative expenses decreased 34.5% from $49.5 million to $32.4 million due to lower employee-related expenses, a decrease in legal provisions, and impact from foreign currency translation.
Gross margin contracted 14% to $175.4 million from $204.3 million prior-comparable quarterprimarily owing to decline in the Consumer gas division’s customer base and a $9.6 million decrease from the impact of foreign currency, partially mitigated by gross margin improvement initiatives in the Commercial division.
Base EBITDA grew 11.4% to $75.0 million from the year-ago tally of $67.3 million.
Just Energy Group, Inc. Price, Consensus and EPS Surprise
Cash and short-term investments were $83.6 million as of year ended Mar 31, 2017, a decrease of 34% from $127.6 million reported in the previous year. The decrease in cash can primarily be attributable to the redemption of long-term debt during fiscal 2017.
Long-term debt of $498.1 million as of Mar 31, 2017, down 25% from $660.5 million as of Mar 31, 2016. The decrease can be attributable to the early redemption of convertible debentures and the repayment of senior unsecured notes.
Guidance
Just Energy provided fiscal 2018,base EBITDA guidance of $210–$220 million.
Peer Releases
ONE Gas, Inc. (OGS - Free Report) posted first-quarter 2017 earnings from operations of $1.44 per share, beating the Zacks Consensus Estimate of $1.36 per share by 5.9%.The company’s 2017 estimates increased by 2 cents to $2.98 per share in the last 90 days.
Sempra Energy (SRE - Free Report) posted first-quarter 2017 earnings from operations of $1.74 per share, beating the Zacks Consensus Estimate of $1.59 per share by 9.4%.The company’s 2017 estimates increased by 1 cent to $5.10 per share in the last 30 days.
NewJersey Resources Corporation (NJR - Free Report) posted first-quarter 2017 earnings from operations of $1.20 per share, beating the Zacks Consensus Estimate of $1 per share by 20%.The company’s 2017 estimates increased by 2 cents to $1.72 per share in the last 90 days.
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Just Energy (JE) Q4 Earnings Miss Estimates, Gives '18 View
Just Energy Group Inc. reported adjusted earnings of 17 cents per share in the fourth quarter of fiscal 2017, lagging the Zacks Consensus Estimate earnings of 28 cents. Reported earnings were however higher than the prior-year quarter earnings of 12 cents per share.
Total Revenue
Just Energy reported sales of $3,757.1 million for fiscal-year 2017, a decrease of 8% from sales of $4,105.9 million in the prior year, primarily a result of the decline in customer base and lower impact from foreign currency translation.
The company reported sales of $947.3 million for the fourth quarter, beating the Zacks Consensus Estimate of $815 million by 16.2%. However, quarterly revenues were down 8.7% from $1,075.9 million on a year-over-year basis.
Highlights of the Release
Administrative expenses decreased 34.5% from $49.5 million to $32.4 million due to lower employee-related expenses, a decrease in legal provisions, and impact from foreign currency translation.
Gross margin contracted 14% to $175.4 million from $204.3 million prior-comparable quarterprimarily owing to decline in the Consumer gas division’s customer base and a $9.6 million decrease from the impact of foreign currency, partially mitigated by gross margin improvement initiatives in the Commercial division.
Base EBITDA grew 11.4% to $75.0 million from the year-ago tally of $67.3 million.
Just Energy Group, Inc. Price, Consensus and EPS Surprise
Just Energy Group, Inc. Price, Consensus and EPS Surprise | Just Energy Group, Inc. Quote
Financial Screening
Cash and short-term investments were $83.6 million as of year ended Mar 31, 2017, a decrease of 34% from $127.6 million reported in the previous year. The decrease in cash can primarily be attributable to the redemption of long-term debt during fiscal 2017.
Long-term debt of $498.1 million as of Mar 31, 2017, down 25% from $660.5 million as of Mar 31, 2016. The decrease can be attributable to the early redemption of convertible debentures and the repayment of senior unsecured notes.
Guidance
Just Energy provided fiscal 2018,base EBITDA guidance of $210–$220 million.
Peer Releases
ONE Gas, Inc. (OGS - Free Report) posted first-quarter 2017 earnings from operations of $1.44 per share, beating the Zacks Consensus Estimate of $1.36 per share by 5.9%.The company’s 2017 estimates increased by 2 cents to $2.98 per share in the last 90 days.
Sempra Energy (SRE - Free Report) posted first-quarter 2017 earnings from operations of $1.74 per share, beating the Zacks Consensus Estimate of $1.59 per share by 9.4%.The company’s 2017 estimates increased by 1 cent to $5.10 per share in the last 30 days.
NewJersey Resources Corporation (NJR - Free Report) posted first-quarter 2017 earnings from operations of $1.20 per share, beating the Zacks Consensus Estimate of $1 per share by 20%.The company’s 2017 estimates increased by 2 cents to $1.72 per share in the last 90 days.
Zacks Rank
Just Energy Group carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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