Primo Water PRMW is scheduled to release second-quarter 2023 earnings on Aug 10, before market open.
The company delivered a negative earnings surprise of 18.18% in the last reported quarter. The stock boasts a four-quarter average earnings surprise of 0.71%.
Factors to Note
Volume growth in PRMW’s Water Direct and Exchange and solid revenues in Water Refill and Filtration are likely to have boosted second-quarter earnings.
Increased dispenser sell-through and high customer retention might have boosted PRMW’s second-quarter revenues. Ongoing repurchase of shares is likely to have had a positive impact on second-quarter earnings.
Expectations
Primo Water expects second-quarter revenues to be in the range of $575-$595 million.
The Zacks Consensus Estimate for second-quarter revenues and earnings per share is pegged at $586.22 million and 21 cents, respectively. The second-quarter earnings figure indicates no change from the year-ago quarter, while that for revenues implies a 2.6% increase.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Primo Water 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.
Primo Water Corporation Price and EPS Surprise
Primo Water Corporation price-eps-surprise | Primo Water Corporation Quote
Earnings ESP: The company’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, Primo Water carries a Zacks Rank #3.
You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following utility and energy players that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
ONEOK OKE is scheduled to report second-quarter 2023 results on Aug 7, after market close. It has an Earnings ESP of +3.11% and a Zacks Rank of 3.
OKE’s long-term earnings growth rate is pegged at 6.3%. The Zacks Consensus Estimate for second-quarter earnings is pegged at $1 per share, indicating an 8.7% increase from the prior-year figure.
ALLETE Inc. ALE is set to report second-quarter 2023 results on Aug 8, before market open. It has an Earnings ESP of +2.56% and a Zacks Rank of 3, at present.
ALE’s long-term earnings growth rate is pegged at 8.1%. The Zacks Consensus Estimate for second-quarter sales stands at $378.53 million, indicating a 1.5% increase from the prior-year figure.
Clean Energy Fuels CLNE is set to report second-quarter 2023 results on Aug 9, after market close. It has an Earnings ESP of +68.75% and a Zacks Rank of 2.
The Zacks Consensus Estimate for its second-quarter sales stands at $103.59 million, indicating a 6.5% increase from the prior-year figure. The Zacks Consensus Estimate for current-year earnings has moved up 25% in the past 60 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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