Utilities companies beat earnings per share (EPS) estimates more often than revenue forecasts in a 14-company scorecard, showing how quarterly results matched analysts’ expectations.
EPS estimates were exceeded by 12 of the 14 utilities, compared with nine that exceeded revenue forecasts. The remaining EPS results were one match and one miss; five companies fell short on revenue. The tally was released Nov. 7.
Revenue was higher year over year at 11 companies; earnings improved on the year at 13. As analysis, this growth count is distinct from forecast beats. Forecast beats compare results with analyst projections, while year-over-year growth compares them with the same quarter a year earlier.
Public Service Enterprise Group missed analyst forecasts for EPS and revenue. At Eversource, EPS met the estimate despite a 22.7% drop from a year earlier, and revenue also declined.
An earlier EconoTimes comparison of financial companies likewise found EPS estimates were beaten more often than revenue forecasts.
