California Water (CWT) to Report Q3 Earnings: What's in Store?
California Water Service Group CWT is scheduled to release third-quarter 2023 earnings on Oct 26, before market open. In the last reported quarter, the company reported a negative earnings surprise of 81.3%.
Factors to Note
California Water is expected to have benefited from new rate implementations and favorable weather conditions during third-quarter 2023.
The company’s acquisition of the assets of Stroh’s Water Company is set to increase its customer base. This initiative is likely to have boosted CWT’s earnings in the to-be-reported quarter.
Expectations
The Zacks Consensus Estimate for earnings is pegged at 54 cents per share, implying a year-over-year decrease of 47.6%.
The consensus mark for revenues is pinned at $235.2 million, indicating an 11.7% plunge year over year.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for California Water 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 the case here. You can see the complete list of today's Zacks #1 Rank stocks here.
California Water Service Group Price and EPS Surprise
California Water Service Group price-eps-surprise | California Water Service Group Quote
Earnings ESP: The company’s Earnings ESP is +14.82%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, California Water carries a Zacks Rank #2.
Other 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.
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 at present.
TransAlta Corp. TAC is slated to release third-quarter 2023 numbers on Nov 7, before market open. It has an Earnings ESP of +15.39% and currently carries a Zacks Rank of 3.
Sempra Energy SRE is set to post third-quarter 2023 figures on Nov 3, before market open. It has an Earnings ESP of +1.84% and presently holds a Zacks Rank of 2.
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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California Water Service Group (CWT) : Free Stock Analysis Report
