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Atmos Energy (ATO) to Report Q3 Earnings: What's in Store?
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Atmos Energy (ATO - Free Report) is scheduled to release third-quarter fiscal 2023 earnings on Aug 02, after the market closes. This firm’s earnings surprise was a positive 0.40% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Strong customer growth and contribution from the organic assets are expected to have benefited fiscal third-quarter performance.
Timely recovery of the investments, with more than 90% of these generating returns within six months, is likely to have boosted earnings in the third quarter. The new rates approved in the first nine months of fiscal 2023 increased the operating income by $248.6 million, which might have had a positive impact on earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 95 cents per share, indicating an increase of 3.3% from the year-ago reported number. The consensus mark for revenues is pegged at $1.01 billion, indicating a year-over-year increase of 24.2%.
The Zacks Consensus Estimate for distribution throughput is pegged at 83 million cubic feet (MMcf), indicating a rise of 5.1% from the year-ago quarter’s figure. The consensus estimate for pipeline and storage transportation volume stands at 175 MMcf, up 19.9%.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Atmos Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below. You can see the complete list of today's Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +6.88%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Atmos Energy carries a Zacks Rank #2.
Other Stocks to Consider
Investors can consider the following players from the same sector that, too, have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Public Service Enterprise Group Inc. (PEG - Free Report) is set to report second-quarter 2023 results on Aug 01, before the market opens. It has an Earnings ESP of +1.94% and a Zacks Rank of 2.
Consolidated Edison Inc. (ED - Free Report) is scheduled to report second-quarter 2023 results on Aug 03, after the market closes. It has an Earnings ESP of +1.40% and a Zacks Rank of 2.
Ameren Corp. (AEE - Free Report) is set to report second-quarter 2023 results on Aug 02 after the market closes. It has an Earnings ESP of +2.05% and a Zacks Rank of 3, at present.
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Atmos Energy (ATO) to Report Q3 Earnings: What's in Store?
Atmos Energy (ATO - Free Report) is scheduled to release third-quarter fiscal 2023 earnings on Aug 02, after the market closes. This firm’s earnings surprise was a positive 0.40% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Strong customer growth and contribution from the organic assets are expected to have benefited fiscal third-quarter performance.
Timely recovery of the investments, with more than 90% of these generating returns within six months, is likely to have boosted earnings in the third quarter. The new rates approved in the first nine months of fiscal 2023 increased the operating income by $248.6 million, which might have had a positive impact on earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 95 cents per share, indicating an increase of 3.3% from the year-ago reported number. The consensus mark for revenues is pegged at $1.01 billion, indicating a year-over-year increase of 24.2%.
The Zacks Consensus Estimate for distribution throughput is pegged at 83 million cubic feet (MMcf), indicating a rise of 5.1% from the year-ago quarter’s figure. The consensus estimate for pipeline and storage transportation volume stands at 175 MMcf, up 19.9%.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Atmos Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below. You can see the complete list of today's Zacks #1 Rank stocks here.
Atmos Energy Corporation Price and EPS Surprise
Atmos Energy Corporation price-eps-surprise | Atmos Energy Corporation Quote
Earnings ESP: The company’s Earnings ESP is +6.88%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Atmos Energy carries a Zacks Rank #2.
Other Stocks to Consider
Investors can consider the following players from the same sector that, too, have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Public Service Enterprise Group Inc. (PEG - Free Report) is set to report second-quarter 2023 results on Aug 01, before the market opens. It has an Earnings ESP of +1.94% and a Zacks Rank of 2.
Consolidated Edison Inc. (ED - Free Report) is scheduled to report second-quarter 2023 results on Aug 03, after the market closes. It has an Earnings ESP of +1.40% and a Zacks Rank of 2.
Ameren Corp. (AEE - Free Report) is set to report second-quarter 2023 results on Aug 02 after the market closes. It has an Earnings ESP of +2.05% and a Zacks Rank of 3, at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.