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PSEG (PEG) Set to Report Q3 Earnings: What's in the Cards?
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Public Service Enterprise Group Incorporated (PEG - Free Report) or PSEG is slated to report third-quarter 2022 results on Oct 31 before the opening bell.
Its bottom line outpaced the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 6.57%.
Factors to Note
In the third quarter of 2022, PSEG’s service territories witnessed warmer-than-normal temperatures. This, in turn, is likely to have boosted the electricity demand for cooling purposes among the company’s customers, thereby contributing to its top line.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $2.24 billion, suggesting growth of 17.7% from the year-ago quarter.
The rate-based growth from regulated investments and the lower cost resulting from the completed sale of PSEG fossil may have aided the margins of the company in the third quarter. These might have added impetus to its bottom line in the soon-to-be-reported quarter.
However, the supply chain and inflationary pressures may have dampened the bottom line of PSEG in the soon-to-be-reported quarter. Also, rising commodity costs may have continued to negatively impact PSEG’s earnings in the third quarter of 2022.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 83 cents per share, indicating a decline of 15.3% from the prior-year reported figure.
Public Service Enterprise Group Incorporated Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for PSEG 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. However, that is not the case here.
Earnings ESP: PEG’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three utilities you may want to consider as these have the right combination of elements to post an earnings beat this season:
NextEra Energy (NEE - Free Report) has an Earnings ESP of +0.63% and a Zacks Rank #2. The Zacks Consensus Estimate for NextEra Energy’s third-quarter revenues is pegged at $6.35 billion, suggesting growth of 45.4% from the year-ago quarter.
The Zacks Consensus Estimate for NEE’s third-quarter earnings is pegged at 79 cents per share, indicating growth of 5.3% from the prior-year reported figure.
Pinnacle West Capital Corporation (PNW - Free Report) has an Earnings ESP of +1.66% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter earnings, pegged at $2.62 per share, implies a decline of 12.7% from the prior-year quarter’s tally.
PNW has a four-quarter earnings surprise of 115.48%. The Zacks Consensus Estimate for Pinnacle’s third-quarter sales suggests a growth rate of 0.6% from the prior-year quarter’s tally.
WEC Energy Group (WEC - Free Report) has an Earnings ESP of +4.41% and a Zacks Rank #3. The Zacks Consensus Estimate for WEC Energy’s third-quarter earnings is pegged at 86 cents per share, suggesting a decline of 6.5% from the year-ago quarter.
The Zacks Consensus Estimate for WEC’s third-quarter sales is pegged at $1.83 billion, indicating growth of 5% from the prior-year reported figure.
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PSEG (PEG) Set to Report Q3 Earnings: What's in the Cards?
Public Service Enterprise Group Incorporated (PEG - Free Report) or PSEG is slated to report third-quarter 2022 results on Oct 31 before the opening bell.
Its bottom line outpaced the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 6.57%.
Factors to Note
In the third quarter of 2022, PSEG’s service territories witnessed warmer-than-normal temperatures. This, in turn, is likely to have boosted the electricity demand for cooling purposes among the company’s customers, thereby contributing to its top line.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $2.24 billion, suggesting growth of 17.7% from the year-ago quarter.
The rate-based growth from regulated investments and the lower cost resulting from the completed sale of PSEG fossil may have aided the margins of the company in the third quarter. These might have added impetus to its bottom line in the soon-to-be-reported quarter.
However, the supply chain and inflationary pressures may have dampened the bottom line of PSEG in the soon-to-be-reported quarter. Also, rising commodity costs may have continued to negatively impact PSEG’s earnings in the third quarter of 2022.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 83 cents per share, indicating a decline of 15.3% from the prior-year reported figure.
Public Service Enterprise Group Incorporated Price and EPS Surprise
Public Service Enterprise Group Incorporated price-eps-surprise | Public Service Enterprise Group Incorporated Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for PSEG 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. However, that is not the case here.
Earnings ESP: PEG’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PSEG carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three utilities you may want to consider as these have the right combination of elements to post an earnings beat this season:
NextEra Energy (NEE - Free Report) has an Earnings ESP of +0.63% and a Zacks Rank #2. The Zacks Consensus Estimate for NextEra Energy’s third-quarter revenues is pegged at $6.35 billion, suggesting growth of 45.4% from the year-ago quarter.
The Zacks Consensus Estimate for NEE’s third-quarter earnings is pegged at 79 cents per share, indicating growth of 5.3% from the prior-year reported figure.
Pinnacle West Capital Corporation (PNW - Free Report) has an Earnings ESP of +1.66% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter earnings, pegged at $2.62 per share, implies a decline of 12.7% from the prior-year quarter’s tally.
PNW has a four-quarter earnings surprise of 115.48%. The Zacks Consensus Estimate for Pinnacle’s third-quarter sales suggests a growth rate of 0.6% from the prior-year quarter’s tally.
WEC Energy Group (WEC - Free Report) has an Earnings ESP of +4.41% and a Zacks Rank #3. The Zacks Consensus Estimate for WEC Energy’s third-quarter earnings is pegged at 86 cents per share, suggesting a decline of 6.5% from the year-ago quarter.
The Zacks Consensus Estimate for WEC’s third-quarter sales is pegged at $1.83 billion, indicating growth of 5% from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.