The upcoming report from Atmos Energy (ATO) is expected to reveal quarterly earnings of $0.96 per share, indicating an increase of 11.6% compared to the year-ago period. Analysts forecast revenues of $888.98 million, representing an increase of 35.1% year over year.
Over the last 30 days, there has been an upward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Atmos metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Operating revenues- Pipeline and Storage segment' to come in at $271.34 million. The estimate indicates a change of +7.4% from the prior-year quarter.
According to the collective judgment of analysts, 'Operating revenues- Distribution segment' should come in at $630.08 million. The estimate indicates a year-over-year change of +7.3%.
Based on the collective assessment of analysts, 'Operating Income- Pipeline and Storage' should arrive at $137.00 million. The estimate is in contrast to the year-ago figure of $120.40 million.
The average prediction of analysts places 'Operating Income- Distribution' at $88.74 million. Compared to the current estimate, the company reported $64.60 million in the same quarter of the previous year.
View all Key Company Metrics for Atmos here>>>
Over the past month, Atmos shares have recorded returns of +2.7% versus the Zacks S&P 500 composite's +2.1% change. Based on its Zacks Rank #2 (Buy), ATO will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Atmos Energy Corporation (ATO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
