Look At Utility Stocks Earnings On Aug 1: LNT, OGS, UGI, FTR
Zacks Investment Research | Jul 28, 2016 09:05PM ET
The second-quarter earnings releases are coming in thick and fast with 208 S&P 500 members having already announced their results as of Jun 27, with earnings declining 4.7% in spite of a 0.4% rise in revenues from the same period last year. As for the beat ratios, 73.1% of the companies have come ahead of earnings estimates and 51.9% have surpassed revenue expectations.
The way second-quarter results are unfolding, it is quite evident that we are into another quarter of an earnings decline for the S&P 500 index. Earnings growth is projected to be in negative territory for the fifth straight quarter.
Ten out of the 16 sectors in the Zacks coverage universe are expected to witness an earnings decline. Overall, earnings are expected to be down 3.5% from the same period last year on a 0.4% decline in revenues.
However, among the outperformers, the Utility sector is expected to outpace all others this season. Utilities are expected to grow second-quarter earnings by 21.7% supported by a 5.2% top-line improvement. Read more details from our Zacks Investment Research
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