HomeMost PopularInvestingUtilities Set to Report Q3 Earnings on Oct 26: FirstEnergy Corporation (FE),...

Utilities Set to Report Q3 Earnings on Oct 26: FirstEnergy Corporation (FE), PG&E Corporation (PCG) & More

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The utilities sector is gearing up for the release of its third-quarter earnings for 2023. This quarter has seen various factors impacting the performances of utility companies, including weather conditions, rate changes, and the use of new technologies that have helped reduce operating expenses. While the sector is expected to witness a 6.2% increase in earnings, revenues are projected to decline by 1.2% due to the ongoing rise in interest rates, which has affected capital-intensive utility stocks.

Factors That Likely Impacted Performances

Domestic-focused utility companies have been focusing on cost management and implementing energy-efficiency programs to improve their overall operations. The introduction of new rates and customer additions have also contributed to fresh demand in the sector, leading to stable earnings. Furthermore, utilities have made significant investments in digital technologies, infrastructure upgrades, and clean energy sources to enhance productivity, reduce operating costs, and provide sustainable solutions. However, the warm weather experienced during the quarter had an adverse impact on customer usage.

Earnings Preview: FirstEnergy Corporation (FE)

FirstEnergy Corporation is expected to benefit from the expansion of transmission lines and infrastructure strengthening, which has reduced the possibility of service interruptions. The companyโ€™s performance has also been supported by favorable weather conditions and lower bad debt expenses. Although our model does not predict an earnings beat for FirstEnergy this time around, the company has continuously demonstrated its commitment to providing efficient and reliable services to its customers.

Key Stats for FirstEnergy Corporation (FE) Q3 Earnings:

  • Earnings ESP: -1.62%
  • Zacks Rank: #3 (Hold)

Performance Charts โ€“ FirstEnergy Corporation (FE)

FirstEnergy Corporation Price and EPS Surprise

Earnings Preview: PG&E Corporation (PCG)

PG&E Corporationโ€™s third-quarter performance was influenced by mixed weather patterns in its service territories. The companyโ€™s operating expenses may have increased due to a tropical storm during the quarter. However, demand increases and effective cost management initiatives are likely to have a positive impact on earnings. Although our model does not conclusively predict an earnings beat for PG&E this time around, the companyโ€™s focus on meeting customer demands and cost reduction strategies positions it well for long-term growth.

Key Stats for PG&E Corporation (PCG) Q3 Earnings:

  • Earnings ESP: -29.59%
  • Zacks Rank: #2 (Buy)

Performance Charts โ€“ Pacific Gas & Electric Co. (PCG)

Pacific Gas & Electric Co. Price and EPS Surprise

Earnings Preview: CMS Energy Corporation (CMS)

CMS Energy Corporationโ€™s third-quarter earnings are expected to be driven by improving commercial and industrial electricity demand, along with favorable rate hikes in recent times. The companyโ€™s performance was influenced by mixed weather conditions during the quarter. However, sales growth and ongoing operational cost reduction initiatives are anticipated to have a positive impact on its overall earnings. Although our model does not conclusively predict an earnings beat for CMS Energy this time around, the companyโ€™s commitment to providing efficient energy solutions bodes well for long-term success.

Key Stats for CMS Energy Corporation (CMS) Q3 Earnings:

  • Earnings ESP: -3.12%
  • Zacks Rank: #3 (Hold)

Performance Charts โ€“ CMS Energy Corporation (CMS)

CMS Energy Corporation Price and EPS Surprise

Earnings Preview: Xcel Energy (XEL)

Xcel Energyโ€™s third-quarter earnings are expected to show a rise in sales contribution from Electric Commercial & Industrial customers. The companyโ€™s performance will also be boosted by the implementation of new electric and natural gas rates. Although our model does not predict an earnings beat for Xcel Energy this time around, the companyโ€™s expansion of services and focus on meeting customer demands position it well for future growth.

Key Stats for Xcel Energy (XEL) Q3 Earnings:

  • Earnings ESP: -2.14%
  • Zacks Rank: #2 (Buy)

Performance Charts โ€“ Xcel Energy Inc. (XEL)

Xcel Energy Inc. Price and EPS Surprise

Earnings Preview: CenterPoint Energy (CNP)

CenterPoint Energyโ€™s third-quarter earnings are expected to benefit from above-normal warm temperatures experienced during the quarter, leading to increased electricity demand for cooling purposes. The company has also witnessed favorable rate hikes and customer growth in recent quarters, which are projected to contribute to its overall revenues. Although our model does not predict an earnings beat for CenterPoint Energy this time around, the companyโ€™s focus on sustainability and efficient energy solutions positions it well for long-term success.

Key Stats for CenterPoint Energy (CNP) Q3 Earnings:

  • Earnings ESP: -0.67%
  • Zacks Rank: #2 (Buy)

Performance Charts โ€“ CenterPoint Energy, Inc. (CNP)

CenterPoint Energy, Inc. Price and EPS Surprise

Stay updated with upcoming earnings announcements by referring to the Zacks Earnings Calendar.

Disclaimer: The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.

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