Atmos Energy (ATO - Free Report) is scheduled to release fourth-quarter fiscal 2023 earnings on Nov 8, after market close. This firm’s earnings surprise was a negative 3.09% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
The continuous modernization of distribution systems, strong customer growth and rate approvals are expected to have benefited fiscal fourth-quarter performance. More than 90% of the capital investments begin to earn within six months, thereby boosting earnings in the fourth quarter.
However, an increase in operation & maintenance (O&M) expenses and higher interest expenses are likely to have adversely impacted its bottom-line performance.
Expectations
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 74 cents per share, indicating an increase of 45.1% from the year-ago reported number. The consensus mark for revenues is pegged at $923 million, suggesting a year-over-year surge of 27.7%.
The Zacks Consensus Estimate for distribution revenue is pegged at $719 million, indicating a rise of 34.1% from the year-ago quarter’s figure. The consensus estimate for pipeline and storage revenue stands at $204 million, up 9.1%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Atmos 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. You can see the complete list of today's Zacks #1 Rank stocks here.
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Atmos Energy (ATO - Free Report) is scheduled to release fourth-quarter fiscal 2023 earnings on Nov 8, after market close. This firm’s earnings surprise was a negative 3.09% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
The continuous modernization of distribution systems, strong customer growth and rate approvals are expected to have benefited fiscal fourth-quarter performance. More than 90% of the capital investments begin to earn within six months, thereby boosting earnings in the fourth quarter.
However, an increase in operation & maintenance (O&M) expenses and higher interest expenses are likely to have adversely impacted its bottom-line performance.
Expectations
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 74 cents per share, indicating an increase of 45.1% from the year-ago reported number. The consensus mark for revenues is pegged at $923 million, suggesting a year-over-year surge of 27.7%.
The Zacks Consensus Estimate for distribution revenue is pegged at $719 million, indicating a rise of 34.1% from the year-ago quarter’s figure. The consensus estimate for pipeline and storage revenue stands at $204 million, up 9.1%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Atmos 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. You can see the complete list of today's Zacks #1 Rank stocks here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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