Essential Utilities Q1 EPS $0.97 Beats $0.77 Estimate, Sales $612.07M Miss $750.08M Estimate
Portfolio Pulse from Benzinga Newsdesk
Essential Utilities (NYSE:WTRG) reported Q1 earnings of $0.97 per share, surpassing the $0.77 estimate, a 34.72% increase from last year. However, sales of $612.07M fell short of the $750.08M estimate, marking an 18.40% miss and a 15.75% decrease from the previous year.
May 02, 2024 | 9:00 pm
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Essential Utilities reported higher-than-expected Q1 earnings but missed on sales estimates, indicating mixed financial health.
The positive earnings beat suggests operational efficiency and could lead to a positive short-term sentiment among investors. However, the significant miss in sales forecasts could raise concerns about revenue growth and market demand, potentially offsetting the positive impact of the earnings beat. The mixed financial results make the short-term impact on the stock price uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100