Atmos Energy Corporation (ATO - Free Report) is scheduled to release first-quarter fiscal 2024 results on Feb 6, after market close. The company delivered an earnings surprise of 8.1% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
Atmos Energy continues to invest systematically. More than 90% of capital investments start earning returns within six months, which is expected to have boosted its bottom line in the first quarter. The company’s top line is expected to have gained from the implementation of new rates in its service regions.
Atmos Energy’s fiscal first-quarter earnings are likely to have benefited from the continued modernization of the distribution systems and an expanding customer base.
However, an increase in operation & maintenance expenses and higher interest expenses are anticipated to have adversely impacted its bottom-line performance in the to-be-reported quarter.
Q1 Expectations
The Zacks Consensus Estimate for fiscal first-quarter earnings is pegged at $2.09 per share, indicating a year-over-year increase of 9.4%. The consensus mark for revenues is pinned at $1.71 billion, indicating a year-over-year increase of 15.5%.
The Zacks Consensus Estimate for consolidated distribution throughput is pinned at 145.37 million cubic feet (MMcf), up 3.3% year over year. The Zacks Consensus Estimate for consolidated pipeline and storage is pinned at 206.24 MMcf, up 45.2% year over year.
What the Zacks Model Unveils
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.
Earnings ESP: The company’s Earnings ESP is -1.91%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Atmos Energy carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
IDACORP (IDA - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.52% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for IDA’s earnings is pegged at 60 cents per share. The company delivered an average earnings surprise of 13.3% in the last four quarters.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.95% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for SO’s earnings is pegged at 59 cents per share. The company delivered an average earnings surprise of 8.5% in the last four quarters.
NiSource Inc. (NI - Free Report) is likely to report an earnings beat when it announces fourth-quarter results soon. It has an Earnings ESP of +1.92% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for NI’s earnings is pegged at 52 cents per share. The company delivered an average earnings surprise of 5.6% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Atmos Energy Corporation (ATO - Free Report) is scheduled to release first-quarter fiscal 2024 results on Feb 6, after market close. The company delivered an earnings surprise of 8.1% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
Atmos Energy continues to invest systematically. More than 90% of capital investments start earning returns within six months, which is expected to have boosted its bottom line in the first quarter. The company’s top line is expected to have gained from the implementation of new rates in its service regions.
Atmos Energy’s fiscal first-quarter earnings are likely to have benefited from the continued modernization of the distribution systems and an expanding customer base.
However, an increase in operation & maintenance expenses and higher interest expenses are anticipated to have adversely impacted its bottom-line performance in the to-be-reported quarter.
Q1 Expectations
The Zacks Consensus Estimate for fiscal first-quarter earnings is pegged at $2.09 per share, indicating a year-over-year increase of 9.4%. The consensus mark for revenues is pinned at $1.71 billion, indicating a year-over-year increase of 15.5%.
The Zacks Consensus Estimate for consolidated distribution throughput is pinned at 145.37 million cubic feet (MMcf), up 3.3% year over year. The Zacks Consensus Estimate for consolidated pipeline and storage is pinned at 206.24 MMcf, up 45.2% year over year.
What the Zacks Model Unveils
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.
Earnings ESP: The company’s Earnings ESP is -1.91%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Atmos Energy carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
IDACORP (IDA - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.52% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for IDA’s earnings is pegged at 60 cents per share. The company delivered an average earnings surprise of 13.3% in the last four quarters.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.95% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for SO’s earnings is pegged at 59 cents per share. The company delivered an average earnings surprise of 8.5% in the last four quarters.
NiSource Inc. (NI - Free Report) is likely to report an earnings beat when it announces fourth-quarter results soon. It has an Earnings ESP of +1.92% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for NI’s earnings is pegged at 52 cents per share. The company delivered an average earnings surprise of 5.6% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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