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What's in the Cards for DTE Energy (DTE) in Q1 Earnings?
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DTE Energy Company (DTE - Free Report) is slated to report first-quarter 2023 results on Apr 27 before the opening bell.
Its bottom line outpaced the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 1.77%.
Factors to Note
In the first quarter, DTE Energy’s service territories witnessed warmer-than-normal temperatures along with above-normal precipitation levels. These are likely to have hurt the electricity demand for heating purposes from the company’s customers during winter. This might be expected to have unfavorably impacted DTE’s revenues.
However, grid-strengthening measures by the company may have continued to allow the smooth flow of electricity for its customers, resulting in diminishing power outage duration. This may have added impetus to DTE Energy’s first-quarter revenues. Favorable rate hikes in prior quarters must have also bolstered DTE’s first-quarter top line.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $4.79 billion. This suggests an increase of 4.7% from the year-ago quarter.
From the cost perspective, the higher rate-based cost is likely to have adversely impacted the bottom line of the company in the first quarter of 2023.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.42 per share. This indicates a decline of 38.5% from the prior-year reported figure.
Our proven model does not conclusively predict an earnings beat for DTE Energy 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.
Earnings ESP: The company’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:
Consolidated Edison (ED - Free Report) has an Earnings ESP of +0.24% and a Zacks Rank #3. The Zacks Consensus Estimate for Consolidated Edison’s first-quarter revenues is pegged at $4.09 billion, suggesting growth of 0.9% from the year-ago quarter.
The Zacks Consensus Estimate for ED’s first-quarter earnings is pegged at $1.64 per share. This indicates growth of 11.6% from the prior-year reported figure.
Edison International (EIX - Free Report) has an Earnings ESP of +0.24% and a Zacks Rank #3. The Zacks Consensus Estimate for its first-quarter earnings is pegged at $1.04 per share, implying a decline of 2.8% from the prior-year reported figure.
The Zacks Consensus Estimate for EIX’s first-quarter sales is pegged at $4.11 billion, suggesting a 3.6% increase from the prior-year reported figure.
Brookfield Renewable Partners (BEP - Free Report) has an Earnings ESP of +115.39% and a Zacks Rank #3. The Zacks Consensus Estimate for its first-quarter sales, pegged at $692.7 million, implies a decline of 39% from the prior-year quarter’s tally.
BEP has a four-quarter negative earnings surprise of 271.73%. The Zacks Consensus Estimate for Brookfield’s first-quarter earnings is pegged at a loss of 13 cents per share.
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What's in the Cards for DTE Energy (DTE) in Q1 Earnings?
DTE Energy Company (DTE - Free Report) is slated to report first-quarter 2023 results on Apr 27 before the opening bell.
Its bottom line outpaced the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 1.77%.
Factors to Note
In the first quarter, DTE Energy’s service territories witnessed warmer-than-normal temperatures along with above-normal precipitation levels. These are likely to have hurt the electricity demand for heating purposes from the company’s customers during winter. This might be expected to have unfavorably impacted DTE’s revenues.
However, grid-strengthening measures by the company may have continued to allow the smooth flow of electricity for its customers, resulting in diminishing power outage duration. This may have added impetus to DTE Energy’s first-quarter revenues. Favorable rate hikes in prior quarters must have also bolstered DTE’s first-quarter top line.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $4.79 billion. This suggests an increase of 4.7% from the year-ago quarter.
From the cost perspective, the higher rate-based cost is likely to have adversely impacted the bottom line of the company in the first quarter of 2023.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.42 per share. This indicates a decline of 38.5% from the prior-year reported figure.
DTE Energy Company Price and EPS Surprise
DTE Energy Company price-eps-surprise | DTE Energy Company Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for DTE Energy 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.
Earnings ESP: The company’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: DTE currently 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 utilities you may want to consider as these have the right combination of elements to post an earnings beat this season:
Consolidated Edison (ED - Free Report) has an Earnings ESP of +0.24% and a Zacks Rank #3. The Zacks Consensus Estimate for Consolidated Edison’s first-quarter revenues is pegged at $4.09 billion, suggesting growth of 0.9% from the year-ago quarter.
The Zacks Consensus Estimate for ED’s first-quarter earnings is pegged at $1.64 per share. This indicates growth of 11.6% from the prior-year reported figure.
Edison International (EIX - Free Report) has an Earnings ESP of +0.24% and a Zacks Rank #3. The Zacks Consensus Estimate for its first-quarter earnings is pegged at $1.04 per share, implying a decline of 2.8% from the prior-year reported figure.
The Zacks Consensus Estimate for EIX’s first-quarter sales is pegged at $4.11 billion, suggesting a 3.6% increase from the prior-year reported figure.
Brookfield Renewable Partners (BEP - Free Report) has an Earnings ESP of +115.39% and a Zacks Rank #3. The Zacks Consensus Estimate for its first-quarter sales, pegged at $692.7 million, implies a decline of 39% from the prior-year quarter’s tally.
BEP has a four-quarter negative earnings surprise of 271.73%. The Zacks Consensus Estimate for Brookfield’s first-quarter earnings is pegged at a loss of 13 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.