AltaGas Ltd reports results for the quarter ended in September 30 - Earnings Summary

AltaGas

01/11/2024 03:10

* AltaGas Ltd  ALA.TO  reported quarterly adjusted earnings
of 14
cents​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of 10 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 9 cents per share. Wall Street
expected results to range from 7 cents to 12 cents per share.
    * Revenue fell 8.9% to $2.76 billion from a year ago;
analysts
expected C$3.19 billion. 
    * AltaGas Ltd's reported EPS for the quarter was 3 cents​.
    * The company reported quarterly net income of $9 million.
    * AltaGas Ltd shares had risen by 0.8% this quarter and
gained 21.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 14.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 1
"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$39.00 
This summary was machine generated from LSEG data November 1 at
03:10 a.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
 Sep. 30 2024      0.09           0.14           Beat
 Jun. 30 2024      0.11           0.14           Beat
 Mar. 31 2024      1.04           1.14           Beat
 Dec. 31 2023      0.77           0.75           Missed