Yahoo Finance Xcel Energy (XEL) to Report Q1 Earnings: What's in the Cards?
Xcel Energy Inc. XEL is scheduled to release first-quarter 2023 earnings on Apr 27, before market open. Its earnings were on par with expectations in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Xcel Energy’s first-quarter earnings are likely to have benefited from its expanding customer base. The new natural gas and electric rates implemented in 2022 are likely to have a positive impact on earnings.
First-quarter results are likely to have benefited from improvements in productivity and efficiency, which are expected to reduce operating and maintenance expenses.
Expectation
The Zacks Consensus Estimate for first-quarter earnings is pegged at 74 cents per share, indicating a 5.7% rise from the year-ago reported figure.
The Zacks Consensus Estimate for first-quarter sales is pegged at $3.9 billion, suggesting growth of 3.59% from the year-ago reported figure.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for XEL 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.
Xcel Energy Inc. Price and EPS Surprise
Xcel Energy Inc. price-eps-surprise | Xcel Energy Inc. Quote
Earnings ESP: Xcel Energy has an Earnings ESP of -0.27%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Xcel Energy currently carries a Zacks Rank #3.
Stocks to Consider
Investors can also consider the following players from the same sector that have the right combination of elements to beat earnings this time around.
Portland General Electric Company POR is set to release first-quarter 2023 results on Apr 28. POR has an Earnings ESP of +5.33% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2023 earnings of Portland General Electric is $2.66 per share, which indicates an increase of 1.14% in the past sixty days.
New Jersey Resources NJR is set to release second-quarter fiscal 2023 results on May 4. NJR has an Earnings ESP of +1.67%.
The Zacks Consensus Estimate for fiscal 2023 earnings of New Jersey Resources is $2.63 per share, which indicates a increase of 3.1% in the past sixty days.
NJR currently carries a Zacks Rank #2 You can see the complete list of today’s Zacks #1 Rank stocks here.
PPL Corporation PPL is set to release first-quarter 2023 results on May 4. PPL has an Earnings ESP of +7.69% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of PPL is $8.97 per share, which indicates a year-over-year increase of 12.06%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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PPL Corporation (PPL) : Free Stock Analysis Report
Xcel Energy Inc. (XEL) : Free Stock Analysis Report
Portland General Electric Company (POR) : Free Stock Analysis Report
NewJersey Resources Corporation (NJR) : Free Stock Analysis Report
