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What's in the Cards for DTE Energy (DTE) in Q2 Earnings?
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DTE Energy Company (DTE - Free Report) is slated to report second-quarter 2023 results on Jul 27, before the opening bell.
In the last reported quarter, the company delivered a negative earnings surprise of 3.62%. DTE has a trailing four-quarter average negative earnings surprise of 2.18%.
Factors to Note
In the second quarter, DTE Energy’s service territories witnessed colder-than-normal temperature pattern. This, in turn, might have had some adverse impact on the company’s top-line performance.
However, grid-strengthening measures by DTE are likely to have continued to facilitate smooth flow of electricity for its customers, resulting in diminishing power outage duration. This might have added impetus to the company’s second-quarter revenues.
The Zacks Consensus Estimate for revenues is pegged at $3.78 billion, indicating a deterioration of 23.2% year over year.
From the cost perspective, higher rate-based cost is likely to have adversely impacted the company’s bottom line in the to-be-reported quarter. Nevertheless, higher earnings and sales growth from its renewable plants is expected to have boosted DTE’s overall bottom-line performance.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1 per share, implying an improvement of 13.6% from the prior-year period’s reported number.
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 -11.51%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three Utility players that you may want to consider as these 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 +3.97% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter earnings is pegged at 64 cents per share, implying no change from that reported in the prior-year quarter.
The consensus mark for PEG’s sales is pinned at $2.03 billion, indicating a decline of 2.3% from the year-ago quarter’s reported number. PEG has a four-quarter average earnings surprise of 4.33%.
Edison International (EIX - Free Report) has an Earnings ESP of +3.58% and a Zacks Rank #3 at present. The consensus estimate for second-quarter earnings is pinned at 92 cents per share, indicating a 2.1% deterioration year over year.
Edison International boasts a four-quarter average earnings surprise of 3.70%. The consensus mark for EIX’s second-quarter sales is pegged at $4.26 billion, indicating growth of 6.4% from that recorded in the prior-year quarter.
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What's in the Cards for DTE Energy (DTE) in Q2 Earnings?
DTE Energy Company (DTE - Free Report) is slated to report second-quarter 2023 results on Jul 27, before the opening bell.
In the last reported quarter, the company delivered a negative earnings surprise of 3.62%. DTE has a trailing four-quarter average negative earnings surprise of 2.18%.
Factors to Note
In the second quarter, DTE Energy’s service territories witnessed colder-than-normal temperature pattern. This, in turn, might have had some adverse impact on the company’s top-line performance.
However, grid-strengthening measures by DTE are likely to have continued to facilitate smooth flow of electricity for its customers, resulting in diminishing power outage duration. This might have added impetus to the company’s second-quarter revenues.
The Zacks Consensus Estimate for revenues is pegged at $3.78 billion, indicating a deterioration of 23.2% year over year.
From the cost perspective, higher rate-based cost is likely to have adversely impacted the company’s bottom line in the to-be-reported quarter. Nevertheless, higher earnings and sales growth from its renewable plants is expected to have boosted DTE’s overall bottom-line performance.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1 per share, implying an improvement of 13.6% from the prior-year period’s reported number.
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 -11.51%. 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 Utility players that you may want to consider as these 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 +3.97% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter earnings is pegged at 64 cents per share, implying no change from that reported in the prior-year quarter.
The consensus mark for PEG’s sales is pinned at $2.03 billion, indicating a decline of 2.3% from the year-ago quarter’s reported number. PEG has a four-quarter average earnings surprise of 4.33%.
Edison International (EIX - Free Report) has an Earnings ESP of +3.58% and a Zacks Rank #3 at present. The consensus estimate for second-quarter earnings is pinned at 92 cents per share, indicating a 2.1% deterioration year over year.
Edison International boasts a four-quarter average earnings surprise of 3.70%. The consensus mark for EIX’s second-quarter sales is pegged at $4.26 billion, indicating growth of 6.4% from that recorded in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.