Xcel Energy (XEL) to Report Q3 Earnings: What's in the Cards?
Xcel Energy Inc. XEL is scheduled to release third-quarter 2023 earnings on Oct 27 before market open. In the last reported quarter, the company reported a negative earnings surprise of 5.5%.
Factors to Note
Xcel Energy is expected to have witnessed a rise in sales contribution from Electric Commercial & Industrial customers in the third quarter. The company’s third-quarter earnings are likely to have benefited from the new electric and natural gas rates that were implemented during the quarter.
Improved managerial decisions are anticipated to lower operating and maintenance costs, which are likely to have a positive impact on XEL’s performance.
Q3 Expectations
The Zacks Consensus Estimate for Xcel Energy’s earnings is pegged at $1.31 per share, implying a year-over-year increase of 11%. The consensus mark for revenues is pinned at $4.05 billion, indicating a decline of 0.8% year over year.
The Zacks Consensus Estimate for XEL’s total operating revenues for the Electric unit is pegged at $3,817 million, indicating growth of 9.1% from the year-ago quarter’s reported figure. The consensus estimate for Natural Gas revenues is pegged at $432 million, indicating growth of 51.6% from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Xcel 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.
Xcel Energy Inc. Price and EPS Surprise
Xcel Energy Inc. price-eps-surprise | Xcel Energy Inc. Quote
Earnings ESP: The company’s Earnings ESP is -2.14%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, XEL carries a Zacks Rank #2.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Pinnacle West Capital Corp. PNW is set to post third-quarter 2023 figures on Nov 2, before market open. It has an Earnings ESP of +0.15% and presently carries a Zacks Rank of 2. You can see the complete list of today's Zacks #1 Rank stocks here.
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 3 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 carries a Zacks Rank of 3 at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Xcel Energy Inc. (XEL) : Free Stock Analysis Report
NiSource, Inc (NI) : Free Stock Analysis Report
Pinnacle West Capital Corporation (PNW) : Free Stock Analysis Report
TransAlta Corporation (TAC) : Free Stock Analysis Report
