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Edison International (EIX) to Post Q2 Earnings: What's in Store?
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Edison International (EIX - Free Report) is slated to report second-quarter 2023 results on Jul 27, after market close.
In the last reported quarter, the company delivered an earnings surprise of 4.81%. EIX has a trailing four-quarter average earnings surprise of 3.70%.
Factors to Note
In the to-be-reported quarter, EIX’s service territories witnessed mixed weather pattern followed by colder-than-normal temperatures, accompanied with precipitation. Such a weather pattern is thus likely to have a mixed impact on the company’s overall revenues.
Additionally, the positive impact of the general rate case might have boosted Edison International’s top-line performance.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.26 billion, indicating an increase of 6.4% from the year-ago quarter’s figure.
Higher interest rates associated with funding 2017 and 2018 wildfire claim payments are expected to have resulted in higher net interest rate expense during the quarter. This, in turn, might have had adversely impacted EIX's bottom-line performance, outweighing the solid sales growth benefits.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 91 cents per share, indicating a decline of 3.2% from the prior-year quarter’s reported number.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for EIX this time around. 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 the case here.
Earnings ESP: EIX has an Earnings ESP of +4.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three other Utility players that you may want to consider as these too have the right combination of elements to come up with an earnings beat this reporting cycle.
Ameren (AEE - Free Report) has an Earnings ESP of +11.82% and a Zacks Rank #3 at present. The stock has a four-quarter average earnings surprise of 4.70%.
Ameren boasts a long-term earnings growth rate of 6.4%. The Zacks Consensus Estimate for AEE’s second-quarter earnings and sales is pegged at 70 cents per share and $1.73 billion, respectively.
Public Service Enterprise Group (PEG - Free Report) has an Earnings ESP of +15.20% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter earnings is pegged at 63 cents per share, implying a 1.6% decrease from that reported in the prior-year quarter.
The consensus estimate for PEG’s second-quarter sales is pegged at $2.03 billion. The company has a four-quarter average earnings surprise of 4.33%.
CMS Energy (CMS - Free Report) has an Earnings ESP of +0.85% and a Zacks Rank #3 at present. The consensus estimate for second-quarter earnings is pinned at 70 cents per share, indicating a 32.1% year-over-year increase.
CMS Energy boasts a four-quarter average earnings surprise of 6.63%. The consensus mark for CMS’ second-quarter sales is pegged at $2.05 billion, indicating growth of 6.7% from that recorded in the prior-year quarter.
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Edison International (EIX) to Post Q2 Earnings: What's in Store?
Edison International (EIX - Free Report) is slated to report second-quarter 2023 results on Jul 27, after market close.
In the last reported quarter, the company delivered an earnings surprise of 4.81%. EIX has a trailing four-quarter average earnings surprise of 3.70%.
Factors to Note
In the to-be-reported quarter, EIX’s service territories witnessed mixed weather pattern followed by colder-than-normal temperatures, accompanied with precipitation. Such a weather pattern is thus likely to have a mixed impact on the company’s overall revenues.
Additionally, the positive impact of the general rate case might have boosted Edison International’s top-line performance.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.26 billion, indicating an increase of 6.4% from the year-ago quarter’s figure.
Edison International Price and EPS Surprise
Edison International price-eps-surprise | Edison International Quote
Higher interest rates associated with funding 2017 and 2018 wildfire claim payments are expected to have resulted in higher net interest rate expense during the quarter. This, in turn, might have had adversely impacted EIX's bottom-line performance, outweighing the solid sales growth benefits.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 91 cents per share, indicating a decline of 3.2% from the prior-year quarter’s reported number.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for EIX this time around. 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 the case here.
Earnings ESP: EIX has an Earnings ESP of +4.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Edison carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are three other Utility players that you may want to consider as these too have the right combination of elements to come up with an earnings beat this reporting cycle.
Ameren (AEE - Free Report) has an Earnings ESP of +11.82% and a Zacks Rank #3 at present. The stock has a four-quarter average earnings surprise of 4.70%.
Ameren boasts a long-term earnings growth rate of 6.4%. The Zacks Consensus Estimate for AEE’s second-quarter earnings and sales is pegged at 70 cents per share and $1.73 billion, respectively.
Public Service Enterprise Group (PEG - Free Report) has an Earnings ESP of +15.20% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter earnings is pegged at 63 cents per share, implying a 1.6% decrease from that reported in the prior-year quarter.
The consensus estimate for PEG’s second-quarter sales is pegged at $2.03 billion. The company has a four-quarter average earnings surprise of 4.33%.
CMS Energy (CMS - Free Report) has an Earnings ESP of +0.85% and a Zacks Rank #3 at present. The consensus estimate for second-quarter earnings is pinned at 70 cents per share, indicating a 32.1% year-over-year increase.
CMS Energy boasts a four-quarter average earnings surprise of 6.63%. The consensus mark for CMS’ second-quarter sales is pegged at $2.05 billion, indicating growth of 6.7% from that recorded in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.