Alliant Energy (LNT) to Report Q3 Earnings: What's in Store?
Alliant Energy LNT is scheduled to release third-quarter 2023 earnings on Nov 2, after market close. This firm pulled off an earnings surprise of 8.47% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Alliant Energy’s third-quarter earnings are likely to have benefited from the execution of capital expenditure plans and reduction in operation and maintenance costs.
During most of the third quarter, LNT’s service territories experienced a warmer-than-normal weather pattern accompanied by drought-like conditions. This is expected to have boosted electricity demand among the company’s customers for cooling purposes, thereby favorably contributing to its third-quarter top-line performance.
However, higher interest and depreciation costs might have offset some positives in the to-be-reported quarter.
Expectations
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 92 cents. The bottom-line figure indicates a decrease of 1.1% from the year-ago quarter.
The same for revenues stands at $1.25 billion, implying a year-over-year improvement of 10.1%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Alliant 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 not the case here, as you will see below. You can see the complete list of today's Zacks #1 Rank stocks here.
Alliant Energy Corporation Price and EPS Surprise
Alliant Energy Corporation price-eps-surprise | Alliant Energy Corporation Quote
Earnings ESP: The company’s Earnings ESP is -0.55%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Alliant Energy carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Consolidated Edison Inc. ED is scheduled to report third-quarter 2023 results on Nov 2, after market close. It has an Earnings ESP of +3.93% and a Zacks Rank of 2.
NiSource Inc. NI is set to report third-quarter 2023 results on Nov 1, before market open. It has an Earnings ESP of +18.52% and a Zacks Rank of 2.
Entergy Corp. ETR is set to report third-quarter 2023 results on Nov 1, before market open. It has an Earnings ESP of +0.74% and a Zacks Rank of 3, at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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NiSource, Inc (NI) : Free Stock Analysis Report
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Alliant Energy Corporation (LNT) : Free Stock Analysis Report
