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See the Zacks Earnings Calendar to stay ahead of market-making news.
This utility company delivered an earnings surprise of 8.47% in the last reported quarter. Entergy has a trailing four-quarter negative earnings surprise is 2.97%, on average.
Let’s discuss the factors that are likely to affect the upcoming quarterly results.
Factors to Consider Ahead of ETR’s Results
Entergy’s service territories witnessed a mixed weather pattern for the majority of the third quarter. In particular, some service areas experienced above normal weather patterns while others witnessed below normal weather patterns. Such a mixed temperature pattern is expected to have had a moderate impact on the company’s top-line performance.
However, some parts of its service areas witnessed severe rain and tornadoes, which are likely to have caused outages for ETR’s customers. In particular, Hurricane Beryl affected about half of ETR’s customers in Texas and caused notable grid damage and outages. Hurricane Francine caused damages to the company’s electric system in Louisiana, apart from resulting in outages for a large number of its customers in this state. These outages are likely to have adversely impacted the overall top-line performance.
The damages caused by the aforementioned storms to ETR’s grid infrastructure are likely to have pushed up its operating expenses for restoration. Higher rate base costs, increased interest expenses and dismal revenue expectations are also likely to have adversely impacted ETR’s overall bottom-line performance.
ETR’s unit Entergy Arkansas commenced commercial operations at Walnut Bend Solar Energy Center in Lee County, AR, in the third quarter. This addition is expected to have enhanced Entergy’s renewable energy portfolio, which is likely to reflect in its upcoming third-quarter results.
Q3 Expectations for Entergy
The Zacks Consensus Estimate for ETR’s sales is pegged at $3.48 billion, which implies a decline of 3.3% from the prior-year quarter’s figure.
The consensus estimate for earnings per share is pegged at $2.91, which implies a decline of 11% from the prior-year quarter’s figure.
What Our Model Predicts for Entergy
Our proven model does not conclusively predict an earnings beat for Entergy 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, which is not the case here as seen below.
Earnings ESP: The company’s Earnings ESP is -3.60%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Stocks to Consider
Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
FirstEnergy (FE - Free Report) is scheduled to report its third-quarter results on Oct. 29, after market close. It has an Earnings ESP of +0.22% and a Zacks Rank of 3 at present. You can see the complete list of Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for sales is pegged at $3.98 billion, which indicates a 14.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 91 cents per share, which indicates year-over-year growth of 3.4%.
PG&E Corporation (PCG - Free Report) is scheduled to report its third-quarter results on Nov. 7, before market open. It has an Earnings ESP of +17.24% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for sales is pegged at $6.57 billion, which indicates a 11.6% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 29 cents per share, which indicates year-over-year growth of 20.8%.
Public Service Enterprise Group Inc. (PEG - Free Report) is scheduled to report its third-quarter results on Nov. 4, before market open. It has an Earnings ESP of +0.07% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its sales is pegged at $2.51 billion, which indicates a 2.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 91 cents per share, which indicates year-over-year growth of 7.1%.
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Entergy Gears Up to Report Q3 Earnings: What's in the Cards?
Entergy Corporation (ETR - Free Report) is scheduled to release third-quarter 2024 results on Oct. 31, before market open.
See the Zacks Earnings Calendar to stay ahead of market-making news.
This utility company delivered an earnings surprise of 8.47% in the last reported quarter. Entergy has a trailing four-quarter negative earnings surprise is 2.97%, on average.
Let’s discuss the factors that are likely to affect the upcoming quarterly results.
Factors to Consider Ahead of ETR’s Results
Entergy’s service territories witnessed a mixed weather pattern for the majority of the third quarter. In particular, some service areas experienced above normal weather patterns while others witnessed below normal weather patterns. Such a mixed temperature pattern is expected to have had a moderate impact on the company’s top-line performance.
Entergy Corporation Price and EPS Surprise
Entergy Corporation price-eps-surprise | Entergy Corporation Quote
However, some parts of its service areas witnessed severe rain and tornadoes, which are likely to have caused outages for ETR’s customers. In particular, Hurricane Beryl affected about half of ETR’s customers in Texas and caused notable grid damage and outages. Hurricane Francine caused damages to the company’s electric system in Louisiana, apart from resulting in outages for a large number of its customers in this state. These outages are likely to have adversely impacted the overall top-line performance.
The damages caused by the aforementioned storms to ETR’s grid infrastructure are likely to have pushed up its operating expenses for restoration. Higher rate base costs, increased interest expenses and dismal revenue expectations are also likely to have adversely impacted ETR’s overall bottom-line performance.
ETR’s unit Entergy Arkansas commenced commercial operations at Walnut Bend Solar Energy Center in Lee County, AR, in the third quarter. This addition is expected to have enhanced Entergy’s renewable energy portfolio, which is likely to reflect in its upcoming third-quarter results.
Q3 Expectations for Entergy
The Zacks Consensus Estimate for ETR’s sales is pegged at $3.48 billion, which implies a decline of 3.3% from the prior-year quarter’s figure.
The consensus estimate for earnings per share is pegged at $2.91, which implies a decline of 11% from the prior-year quarter’s figure.
What Our Model Predicts for Entergy
Our proven model does not conclusively predict an earnings beat for Entergy 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, which is not the case here as seen below.
Earnings ESP: The company’s Earnings ESP is -3.60%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Stocks to Consider
Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
FirstEnergy (FE - Free Report) is scheduled to report its third-quarter results on Oct. 29, after market close. It has an Earnings ESP of +0.22% and a Zacks Rank of 3 at present. You can see the complete list of Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for sales is pegged at $3.98 billion, which indicates a 14.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 91 cents per share, which indicates year-over-year growth of 3.4%.
PG&E Corporation (PCG - Free Report) is scheduled to report its third-quarter results on Nov. 7, before market open. It has an Earnings ESP of +17.24% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for sales is pegged at $6.57 billion, which indicates a 11.6% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 29 cents per share, which indicates year-over-year growth of 20.8%.
Public Service Enterprise Group Inc. (PEG - Free Report) is scheduled to report its third-quarter results on Nov. 4, before market open. It has an Earnings ESP of +0.07% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its sales is pegged at $2.51 billion, which indicates a 2.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 91 cents per share, which indicates year-over-year growth of 7.1%.