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What to Expect From California Water (CWT) in Q2 Earnings?
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California Water Service Group (CWT - Free Report) is scheduled to release second-quarter 2022 results on Jul 28 before market open. California Water Service witnessed a negative earnings surprise of 60% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
An increase in unbilled revenues and the addition of water connections through the closed acquisition of Animas Valley Water are expected to have positively impacted CWT’s second-quarter earnings. Due to the beginning of the summer season in the second quarter, the demand for water is expected to have increased, boosting earnings.
However, second-quarter results are likely to be impacted by an increase in operating expenses.
Expectations
The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 60 cents, indicating a 20% decline from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for second-quarter 2022 revenues is pegged at $223 million, indicating a 4.6% rise from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for California Water Service this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here as you will see below.
California Water Service Group Price and EPS Surprise
Earnings ESP: California Water Service has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can consider the following players from the same sector who have the right combination of elements to beat earnings in this reporting cycle.
American Electric Power (AEP - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 27 before market open. American Electric Power has an Earnings ESP of +6.20% and carries a Zacks Rank #2 at present. AEP’s long-term (three to five years) earnings growth is projected at 6.2%.
American Water Works (AWK - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 27 after market close. American Water Works has an Earnings ESP of +1.46% and carries a Zacks Rank #3 at present. AWK’s long-term earnings growth is projected at 8.1%.
DTE Energy (DTE - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 28 before market open. DTE Energy has an Earnings ESP of +3.41% and carries a Zacks Rank #3 at present. DTE’s long-term earnings growth is projected at 6%.
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What to Expect From California Water (CWT) in Q2 Earnings?
California Water Service Group (CWT - Free Report) is scheduled to release second-quarter 2022 results on Jul 28 before market open. California Water Service witnessed a negative earnings surprise of 60% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
An increase in unbilled revenues and the addition of water connections through the closed acquisition of Animas Valley Water are expected to have positively impacted CWT’s second-quarter earnings. Due to the beginning of the summer season in the second quarter, the demand for water is expected to have increased, boosting earnings.
However, second-quarter results are likely to be impacted by an increase in operating expenses.
Expectations
The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 60 cents, indicating a 20% decline from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for second-quarter 2022 revenues is pegged at $223 million, indicating a 4.6% rise from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for California Water Service this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here as you will see below.
California Water Service Group Price and EPS Surprise
California Water Service Group price-eps-surprise | California Water Service Group Quote
Earnings ESP: California Water Service has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CWT 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 players from the same sector who have the right combination of elements to beat earnings in this reporting cycle.
American Electric Power (AEP - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 27 before market open. American Electric Power has an Earnings ESP of +6.20% and carries a Zacks Rank #2 at present. AEP’s long-term (three to five years) earnings growth is projected at 6.2%.
American Water Works (AWK - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 27 after market close. American Water Works has an Earnings ESP of +1.46% and carries a Zacks Rank #3 at present. AWK’s long-term earnings growth is projected at 8.1%.
DTE Energy (DTE - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 28 before market open. DTE Energy has an Earnings ESP of +3.41% and carries a Zacks Rank #3 at present. DTE’s long-term earnings growth is projected at 6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.