Ameren (AEE) to Report Q3 Earnings: What's in the Cards?
Ameren Corporation AEE is slated to release its third-quarter 2023 results on Nov 8 before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 15.38%. Ameren has a trailing four-quarter earnings surprise of 8.86%, on average.
Factors to Note
Most of AEE’s service territories observed warm weather conditions in the third quarter. This may have increased the electricity demand for cooling purposes from the company’s customers during summer. This is likely to have contributed to Ameren's top line in the third quarter.
Strong rate-based growth, fueled by increased investments in its infrastructure in prior quarters, may have aided its top line in the third quarter.
Solid top-line growth is likely to have driven the bottom line of the company in the third quarter. Also, returns from investments in infrastructure and a disciplined cost management strategy may have added impetus to its overall third-quarter earnings.
Q3 Expectations
The Zacks Consensus Estimate for AEE’s third-quarter revenues is pegged at $2.37 billion. This suggests 2.9% growth from the year-ago quarter.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.80 per share. This indicates an increase of 3.5% from the prior-year reported figure.
Ameren Corporation Price and EPS Surprise
Ameren Corporation price-eps-surprise | Ameren Corporation Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Ameren 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 the case here.
Earnings ESP: The company’s Earnings ESP is +0.22%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: AEE carries a Zacks Rank #3.
Other Stocks to Consider
Here are three other utility players you may want to consider as these also have the right combination of elements to post an earnings beat this season:
TransAlta Corporation TAC has an Earnings ESP of +15.26% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
TAC has a four-quarter negative earnings surprise of 107.14%. The Zacks Consensus Estimate for TransAlta’s third-quarter earnings is pegged at 32 cents per share.
Spire Inc. SR has an Earnings ESP of +4.58% and a Zacks Rank #3. The Zacks Consensus Estimate for its third-quarter sales, pegged at $308.2 million, indicates a decline of 1.9% from the prior-year quarter’s tally.
SR has a four-quarter negative earnings surprise of 490.58%, on average. The Zacks Consensus Estimate for Spire’s third-quarter bottom line is pegged at a loss of 66 cents per share.
Another Utility Release
Hawaiian Electric Industries, Inc. HE: The Zacks Consensus Estimate for the company’s third-quarter earnings is pegged at 56 cents per share, suggesting a decline of 1.8% from the prior-year quarter’s reported figure.
HE reported a negative earnings surprise of 7.41% in the last reported quarter. The four-quarter earnings average for the company stands at negative 4.19%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Ameren Corporation (AEE) : Free Stock Analysis Report
Hawaiian Electric Industries, Inc. (HE) : Free Stock Analysis Report
TransAlta Corporation (TAC) : Free Stock Analysis Report
Spire Inc. (SR) : Free Stock Analysis Report
