TransAlta (TAC) to Post Q4 Earnings: Here's What to Expect
TransAlta TAC is scheduled to release fourth-quarter 2023 earnings on Feb 23 before market close. The company delivered a positive earnings surprise of 178.13% in the last quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
Fourth-quarter earnings are likely to have benefited from the contribution of acquired assets completed in the first nine months of 2023. The ongoing share repurchases are also likely to have a positive impact on fourth-quarter earnings.
However, the company’s fourth-quarter earnings are expected to have been negatively impacted by higher operation, maintenance and administration expenses. An extended outage of Kent Hills 1 and 2 wind facilities is likely to have adversely impacted production volumes in the fourth quarter.
Expectation
The Zacks Consensus Estimate for TAC’s earnings is pegged at 13 cents per share, implying a year-over-year increase of 128.89%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for TransAlta this time. 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 you will see below.
TransAlta Corporation Price and EPS Surprise
TransAlta Corporation price-eps-surprise | TransAlta Corporation Quote
Earnings ESP: TAC has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, TAC carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector as these have the right combination of elements to beat on earnings in the upcoming releases.
Dominion Energy D is likely to come up with an earnings beat when it reports its fourth-quarter 2023 earnings on Feb 22 before market open. It has an Earnings ESP of +0.63% and presently carries a Zacks Rank of 3.
Entergy ETR is likely to come up with an earnings beat when it reports its fourth-quarter earnings on Feb 22 before market open. It has an Earnings ESP of +1.45% and carries a Zacks Rank of 3 at present.
Sempra Energy SRE is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings on Feb 27 before market open. It has an Earnings ESP of +0.29% and a Zacks Rank of 3 at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Sempra Energy (SRE) : Free Stock Analysis Report
Entergy Corporation (ETR) : Free Stock Analysis Report
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TransAlta Corporation (TAC) : Free Stock Analysis Report
