12 out of 16 S&P500 utilities stocks deliver EPS wins this week: Earnings Scorecard

The Utilities sector shared some spotlight this week as investors accessed earnings reports from important players including Southern Co (SO), Edison International (EIX) and Dominion Energy (D).

Quarter-to-date, the utilities sector (NYSEARCA:XLU) is trading 4% higher, outperforming the SPY downturn of over 3%.

In this week's earnings recap, 16 tickers reported results, out of which 12 companies reported an earnings beat, three reported a miss, while one was in-line. On the revenue side, three companies exceeded revenue estimates, while 13 companies trailed estimates.

Below are the latest quarterly reports from some of the key players, which reported results this week:

American Electric Power (AEP) beat earnings estimates but its revenue was below Street’s expectation, while Dominion Energy (D) on Thursday posted better than expected Q1 adjusted earnings. However, its operating revenue fell 6% during the quarter to $3.63 billion.

Southern Co rose over 1% Thursday's trading after comfortably beating Q1 adjusted earnings, with the company’s electricity sales to data centres rising 12% Y/Y.

Exelon (EXC) also reported mixed results, with revenue beating Street’s estimates, while adjusted earnings came below expectation. The company affirmed full year 2024 adjusted operating earnings guidance range of $2.40-$2.50 per share versus $2.44 consensus.

So far this quarter, 23 out of 383 companies that reported results are part of the Utilities sector.

At the industry level, 13 are Electric Utilities, eight Multi Utilities, one Independent Power & Renewable Electricity Producers and one Water Utilities reported earnings this quarter.

Almost 74% of the S&P 500 Utilities sector companies that have reported results so far this quarter, have recorded EPS beat, 17% of companies reported a miss, while 9% were in-line. In terms of revenue, 78% of the companies trailed estimates, while 22% of companies beat on the top line.

For the upcoming week, notable Utilities names scheduled to report results include Duke Energy (DUK), Sempra Energy (SRE), Clearway Energy (CWEN) and Hawaiian Electric (HE).