AltaGas Ltd reports results for the quarter ended in June - Earnings Summary

AltaGas

01/08/2024 14:34

* AltaGas Ltd  ALA.TO  reported quarterly adjusted earnings
of 14
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 6
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 11 cents per share. Wall Street expected
results to range from 8 cents to 16 cents per share.
    * Revenue rose 5.5% to C$2.78 billion from a year ago;
analysts
expected C$2.54 billion. 
    * AltaGas Ltd's reported EPS for the quarter was a loss
of 14
cents​.
    * The company reported a quarterly loss of $42 million.
    * AltaGas Ltd shares had risen by 6.5% this quarter and
gained 18.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 24.6%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the natural gas
utilities peer group is also "buy"

Wall Street's median 12-month price target for AltaGas Ltd is
C$35.00 
This summary was machine generated from LSEG data August 1 at
01:34 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.11           0.14           Beat
 Mar. 31 2024      1.04           1.14           Beat
 Dec. 31 2023      0.77           0.75           Missed
 Sep. 30 2023      0.07           0.10           Beat