American States Water AWR is set to unveil its fourth-quarter 2023 earnings on Feb 21 after market close. With a 3.66% positive earnings surprise in the last quarter, anticipation is high for the upcoming results.
Let’s delve into the factors that might drive the performance of the company in the upcoming quarterly results.
Factors at Play
American States Water’s fourth-quarter earnings are anticipated to have benefited from continuous investments to fortify its operations and the implementation of new rates in its service territories. However, the persistently high interest rates are likely to have raised overall borrowing costs in the fourth quarter, potentially offsetting some of the potential upsides.
Expectation
Analysts’ consensus for American States Water’s earnings is projected to reach 0.53 cents per share, indicating a 6% year-over-year increase. Furthermore, the Zacks Consensus Estimate for fourth-quarter sales is $132 million, reflecting a 5.29% surge from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for AWR this time. While a positive Earnings ESP and a Zacks Rank of #1 (Strong Buy), 2 (Buy), or 3 (Hold) generally increase the odds of an earnings beat, this isn’t the case here.
American States Water Company Price and EPS Surprise
American States Water Company price-eps-surprise | American States Water Company Quote
Earnings ESP: AWR has an Earnings ESP of 0.00%. For uncovering the best stocks to buy or sell before their earnings report, you can utilize our Earnings ESP Filter.
Zacks Rank: Currently, AWR holds a Zacks Rank #3. You can explore the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors may also contemplate other players within the same sector that have a favorable combination of factors to potentially beat earnings estimates in their upcoming releases.
Dominion Energy D, set to report its fourth-quarter 2023 earnings on Feb 22 before market open, appears poised for an earnings beat with an Earnings ESP of +0.63% and a Zacks Rank of 3.
Sempra Energy SRE is expected to achieve an earnings beat when it reports its fourth-quarter 2023 earnings on Feb 27 before market open, given its Earnings ESP of +1.18% and a Zacks Rank of 3 at present.
Southwest Gas SWX is likely to outperform expectations when it reports its fourth-quarter earnings on Feb 28. With an Earnings ESP of +1.45% and a Zacks Rank of 3, it presents a strong case for a positive surprise.
Stay informed about upcoming earnings announcements using the Zacks Earnings Calendar.
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