Xcel Energy Inc. (XEL - Free Report) is scheduled to release third-quarter 2023 earnings on Oct 27 before market open. In the last reported quarter, the company reported a negative earnings surprise of 5.5%.
Factors to Note
Xcel Energy is expected to have witnessed a rise in sales contribution from Electric Commercial & Industrial customers in the third quarter. The company’s third-quarter earnings are likely to have benefited from the new electric and natural gas rates that were implemented during the quarter.
Improved managerial decisions are anticipated to lower operating and maintenance costs, which are likely to have a positive impact on XEL’s performance.
Q3 Expectations
The Zacks Consensus Estimate for Xcel Energy’s earnings is pegged at $1.31 per share, implying a year-over-year increase of 11%. The consensus mark for revenues is pinned at $4.05 billion, indicating a decline of 0.8% year over year.
The Zacks Consensus Estimate for XEL’s total operating revenues for the Electric unit is pegged at $3,817 million, indicating growth of 9.1% from the year-ago quarter’s reported figure. The consensus estimate for Natural Gas revenues is pegged at $432 million, indicating growth of 51.6% from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Xcel Energy 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.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Xcel Energy Inc. (XEL - Free Report) is scheduled to release third-quarter 2023 earnings on Oct 27 before market open. In the last reported quarter, the company reported a negative earnings surprise of 5.5%.
Factors to Note
Xcel Energy is expected to have witnessed a rise in sales contribution from Electric Commercial & Industrial customers in the third quarter. The company’s third-quarter earnings are likely to have benefited from the new electric and natural gas rates that were implemented during the quarter.
Improved managerial decisions are anticipated to lower operating and maintenance costs, which are likely to have a positive impact on XEL’s performance.
Q3 Expectations
The Zacks Consensus Estimate for Xcel Energy’s earnings is pegged at $1.31 per share, implying a year-over-year increase of 11%. The consensus mark for revenues is pinned at $4.05 billion, indicating a decline of 0.8% year over year.
The Zacks Consensus Estimate for XEL’s total operating revenues for the Electric unit is pegged at $3,817 million, indicating growth of 9.1% from the year-ago quarter’s reported figure. The consensus estimate for Natural Gas revenues is pegged at $432 million, indicating growth of 51.6% from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Xcel Energy 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.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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