Yahoo Finance TransAlta (TAC) Set to Report Q2 Earnings: What's in Store?
TransAlta Corporation TAC is expected to release second-quarter 2022 earnings on Aug 5. The utility delivered a negative earnings surprise of 52.2%, on average, for the last four reported quarters.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
TransAlta’s second-quarter earnings are likely to have benefited from its existing long-term contracts and hedged position. The repurchase of 1.4 million shares in the first quarter lowered the level of outstanding shares, which is likely to have a positive impact on earnings.
The extension of Kent Hills Wind Facilities outage in the second quarter is anticipated to have increased operating expenses and reduced the profit margin in the second quarter.
Expectations
The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 12 cents. The bottom-line projection indicates a year-over-year increase of 71.4%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for TransAlta this time around. 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. That is not the case here, as you will see below.
TransAlta Corporation Price and EPS Surprise
TransAlta Corporation price-eps-surprise | TransAlta Corporation Quote
Earnings ESP: TransAlta’s Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, TransAlta carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider players that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Calumet Specialty Products Partners, L.P. CLMT is likely to come up with an earnings beat when it reports second-quarter results on Aug 5. CLMT has an Earnings ESP of +30.0% and a Zacks Rank of #2 at present.
The Zacks Consensus Estimate for CLMT’s 2022 and 2023 EPS indicates 76.2% and 285.3% year-over-year growth, respectively.
Dominion Energy D is likely to come up with an earnings beat when it reports second-quarter results on Aug 8. D has an Earnings ESP of +1.63% and a Zacks Rank of #3 at present.
Dominion Energy’s long-term earnings growth is currently pegged at 6.4%. The Zacks Consensus Estimate for D’s 2022 and 2023 EPS indicates 6.48% and 6.49% year-over-year growth, respectively.
Gevo Inc. GEVO is likely to come up with an earnings beat when it reports second-quarter results on Aug 8. GEVO has an Earnings ESP of +25.0% and a Zacks Rank of #2 at present.
The Zacks Consensus Estimate for GEVO’s 2023 EPS indicates 0.51% year-over-year growth.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Dominion Energy Inc. (D) : Free Stock Analysis Report
TransAlta Corporation (TAC) : Free Stock Analysis Report
Calumet Specialty Products Partners, L.P. (CLMT) : Free Stock Analysis Report
Gevo, Inc. (GEVO) : Free Stock Analysis Report
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