Atlantica Sustainable Infrastructure (AY) Q3 Earnings Miss Estimates

Core Viewpoint - Atlantica Sustainable Infrastructure reported quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.32 per share, representing a -56.25% earnings surprise [1] - The company posted revenues of $347.55 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 6.94% and showing an increase from $303.96 million year-over-year [2] Financial Performance - The company has surpassed consensus EPS estimates two times over the last four quarters [2] - The earnings report indicates a decline in earnings from $0.18 per share a year ago [1] - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of $247 million, and for the current fiscal year, it is $0.28 on revenues of $1.14 billion [7] Market Performance - Atlantica Sustainable Infrastructure shares have increased by approximately 2.8% since the beginning of the year, while the S&P 500 has gained 25.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Alternative Energy - Other industry, to which Atlantica belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact the stock's performance [5]