Excelerate Energy, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Excelerate Energy, Inc. (NYSE:EE) just released its first-quarter report and things are looking bullish. The company beat forecasts, with revenue of US$200m, some 9.4% above estimates, and statutory earnings per share (EPS) coming in at US$0.24, 23% ahead of expectations. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Excelerate Energy

Following the recent earnings report, the consensus from six analysts covering Excelerate Energy is for revenues of US$821.6m in 2024. This implies a stressful 28% decline in revenue compared to the last 12 months. Statutory earnings per share are predicted to increase 2.4% to US$1.20. In the lead-up to this report, the analysts had been modelling revenues of US$869.8m and earnings per share (EPS) of US$1.09 in 2024. Although the analysts have lowered their revenue forecasts, they've also made a solid gain to their earnings per share estimates, which implies there's been something of an uptick in sentiment following the latest results.

The consensus has made no major changes to the price target of US$22.00, suggesting the forecast improvement in earnings is expected to offset the decline in revenues next year. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Excelerate Energy analyst has a price target of US$26.00 per share, while the most pessimistic values it at US$18.00. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We would also point out that the forecast 36% annualised revenue decline to the end of 2024 is better than the historical trend, which saw revenues shrink 45% annually over the past year By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 2.1% per year. So it's pretty clear that, while it does have declining revenues, the analysts also expect Excelerate Energy to suffer worse than the wider industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Excelerate Energy following these results. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. Even so, long term profitability is more important for the value creation process. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Excelerate Energy analysts - going out to 2026, and you can see them free on our platform here.

Another thing to consider is whether management and directors have been buying or selling stock recently. We provide an overview of all open market stock trades for the last twelve months on our platform, here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.