Atlantica Sustainable Infrastructure (AY) Lags Q2 Earnings Estimates

Company Performance - Atlantica Sustainable Infrastructure reported quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.24 per share, and down from $0.31 per share a year ago, representing an earnings surprise of -25% [1] - The company posted revenues of $328.26 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.19%, and up from $312.11 million year-over-year [1] - Over the last four quarters, Atlantica has surpassed consensus EPS estimates two times and revenue estimates two times [1] Market Performance - Since the beginning of the year, Atlantica Sustainable Infrastructure shares have added about 2.8%, compared to the S&P 500's gain of 15.8% [2] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.28 on revenues of $324.03 million, and for the current fiscal year, it is $0.46 on revenues of $1.14 billion [4] - The trend for estimate revisions ahead of the earnings release was mixed, and future changes in estimates will be monitored closely [4] Industry Context - The Alternative Energy - Other industry, to which Atlantica belongs, is currently in the bottom 22% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Crescent Energy, is expected to report quarterly earnings of $0.26 per share, reflecting a year-over-year change of +73.3% [5][6]