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What's in Store for Edison International (EIX) in Q2 Earnings?
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Edison International (EIX - Free Report) is scheduled to report second-quarter 2022 results on Jul 28 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 44.59%. Edison International has a trailing four-quarter earnings surprise of 11.51%, on average.
Factors to Note
The company’s service territories mostly witnessed warmer-than-normal temperatures along with extreme dry weather conditions in the second quarter of 2022, which is likely to have boosted the demand for electricity for cooling purposes. This, in turn, might have contributed to EIX’s top line in the soon-to-be-reported quarter.
Additionally, the favorable impact of the 2021 general rate case final decision on the company’s revenues is likely to have been reflected in the second quarter of 2022.
However, extreme dry conditions in some of its service territories resulted in drought-like conditions, causing wildfire events. This might have disrupted the smooth flow of electricity to its customers, thereby dampening the revenues of the company in the second quarter.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $3.43 billion, suggesting growth of 3.5% from the year-ago quarter.
The wildfire event, as mentioned above, might have caused infrastructural damage, thus increasing the company’s restore and repair expenses. This might have dented the earnings of the company in the second quarter of 2022.
The Zacks Consensus Estimate for second-quarter earningsis pegged at 84 cents per share, indicating a decline of 10.6% from the prior-year reported figure.
Our proven model does not conclusively predict an earnings beat for Edison International this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -5.36%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three Utilitiesyou may want to consider as these have the right combination of elements to post an earnings beat this season:
American Electric Power Company, Inc(AEP - Free Report) has an Earnings ESP of +6.20% and a Zacks Rank #2.
The Zacks Consensus Estimate for American Electric’s second-quarter revenues is pegged at $4.19 billion, suggesting growth of 9.6% from the year-ago quarter. The Zacks Consensus Estimate for AEP’s second-quarter earnings is pegged at $1.13 per share, indicating a decline of 4.2% from the prior-year reported figure.
Consolidated Edison (ED - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings is pegged at 58 cents per share, indicating growth of 9.4% from the prior-year reported figure.
Consolidated Edison boasts a long-term earnings growth rate of 2%. The Zacks Consensus Estimate for ED’s second-quarter sales is pegged at $3.13 billion, suggesting growth of 5.4% from the prior-year reported figure.
DTE Energy(DTE - Free Report) has an Earnings ESP of +3.41% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings, pegged at $1 per share, implies a decline of 41.2% from the prior-year quarter’s tally.
DTE Energy boasts a long-term earnings growth rate of 6%. DTE has a four-quarter earnings surprise of 8.97%.
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What's in Store for Edison International (EIX) in Q2 Earnings?
Edison International (EIX - Free Report) is scheduled to report second-quarter 2022 results on Jul 28 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 44.59%. Edison International has a trailing four-quarter earnings surprise of 11.51%, on average.
Factors to Note
The company’s service territories mostly witnessed warmer-than-normal temperatures along with extreme dry weather conditions in the second quarter of 2022, which is likely to have boosted the demand for electricity for cooling purposes. This, in turn, might have contributed to EIX’s top line in the soon-to-be-reported quarter.
Additionally, the favorable impact of the 2021 general rate case final decision on the company’s revenues is likely to have been reflected in the second quarter of 2022.
However, extreme dry conditions in some of its service territories resulted in drought-like conditions, causing wildfire events. This might have disrupted the smooth flow of electricity to its customers, thereby dampening the revenues of the company in the second quarter.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $3.43 billion, suggesting growth of 3.5% from the year-ago quarter.
The wildfire event, as mentioned above, might have caused infrastructural damage, thus increasing the company’s restore and repair expenses. This might have dented the earnings of the company in the second quarter of 2022.
The Zacks Consensus Estimate for second-quarter earningsis pegged at 84 cents per share, indicating a decline of 10.6% from the prior-year reported figure.
Edison International Price and EPS Surprise
Edison International price-eps-surprise | Edison International Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Edison International this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -5.36%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Edison International carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three Utilitiesyou may want to consider as these have the right combination of elements to post an earnings beat this season:
American Electric Power Company, Inc(AEP - Free Report) has an Earnings ESP of +6.20% and a Zacks Rank #2.
The Zacks Consensus Estimate for American Electric’s second-quarter revenues is pegged at $4.19 billion, suggesting growth of 9.6% from the year-ago quarter. The Zacks Consensus Estimate for AEP’s second-quarter earnings is pegged at $1.13 per share, indicating a decline of 4.2% from the prior-year reported figure.
Consolidated Edison (ED - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings is pegged at 58 cents per share, indicating growth of 9.4% from the prior-year reported figure.
Consolidated Edison boasts a long-term earnings growth rate of 2%. The Zacks Consensus Estimate for ED’s second-quarter sales is pegged at $3.13 billion, suggesting growth of 5.4% from the prior-year reported figure.
DTE Energy(DTE - Free Report) has an Earnings ESP of +3.41% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings, pegged at $1 per share, implies a decline of 41.2% from the prior-year quarter’s tally.
DTE Energy boasts a long-term earnings growth rate of 6%. DTE has a four-quarter earnings surprise of 8.97%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.