Artesian Resources (ARTNA) Q3 Earnings and Revenues Top Estimates

Group 1: Earnings Performance - Artesian Resources reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of$ 0.61 per share, and up from $0.49 per share a year ago, representing an earnings surprise of 8.20% [1] - The company posted revenues of$ 29.14 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.49%, compared to year-ago revenues of $26.57 million [2] - Over the last four quarters, Artesian Resources has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Artesian Resources shares have declined approximately 20% since the beginning of the year, while the S&P 500 has gained 20.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is$ 0.36 on $25 million in revenues, and$ 1.92 on $106 million in revenues for the current fiscal year [7] Group 3: Industry Context - The Utility - Water Supply industry, to which Artesian Resources belongs, is currently ranked in the top 41% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that tracking these revisions can be beneficial for investors [5] - The estimate revisions trend for Artesian Resources is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6]