NiSource, Inc (NI - Free Report) is scheduled to release third-quarter 2020 earnings on Nov 2, before the market opens. The company delivered an earnings surprise of 85.71% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Amid the pandemic and lockdown restrictions, demand from NiSource’s residential customers grew significantly, accounting for 59% of the utility’s revenues. This uptrend is likely to have continued in the third quarter too. Also, with easing of shutdown constraints, demand from the commercial and industrial group is expected to have bettered. Moreover, new gas ratesthat were effective during the September quarter are also expected to boost the upcoming earnings results.
Further, the negative impact of the company’s payment flexibility initiatives to support its customers during the pandemic might have been offset by cost-management and regulatory solutions.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter 2020 sales is pegged at $971.65 million, which indicates an increase of 4.31% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 2 cents.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NiSource this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: NiSource has an Earnings ESP of +150.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NiSource carries a Zacks Rank #3.
Other Stocks to Consider
Here are some other companies worth considering from the same sector, which according to our model, have the right combination of elements to beat on earnings in the upcoming releases.
CMS Energy (CMS - Free Report) is set to release third-quarter 2020 results on Oct 29. It has an Earnings ESP of +0.15% and is Zacks #3 Ranked, presently.
Southern Company (SO - Free Report) is set to release third-quarter 2020 results on Oct 29. It has an Earnings ESP of +0.54% and is a #3 Ranked player at present.
SJW Group (SJW - Free Report) is set to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank of 3 at present.
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Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
NiSource, Inc (NI - Free Report) is scheduled to release third-quarter 2020 earnings on Nov 2, before the market opens. The company delivered an earnings surprise of 85.71% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Amid the pandemic and lockdown restrictions, demand from NiSource’s residential customers grew significantly, accounting for 59% of the utility’s revenues. This uptrend is likely to have continued in the third quarter too. Also, with easing of shutdown constraints, demand from the commercial and industrial group is expected to have bettered. Moreover, new gas ratesthat were effective during the September quarter are also expected to boost the upcoming earnings results.
Further, the negative impact of the company’s payment flexibility initiatives to support its customers during the pandemic might have been offset by cost-management and regulatory solutions.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter 2020 sales is pegged at $971.65 million, which indicates an increase of 4.31% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 2 cents.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NiSource this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: NiSource has an Earnings ESP of +150.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NiSource carries a Zacks Rank #3.
Other Stocks to Consider
Here are some other companies worth considering from the same sector, which according to our model, have the right combination of elements to beat on earnings in the upcoming releases.
CMS Energy (CMS - Free Report) is set to release third-quarter 2020 results on Oct 29. It has an Earnings ESP of +0.15% and is Zacks #3 Ranked, presently.
Southern Company (SO - Free Report) is set to release third-quarter 2020 results on Oct 29. It has an Earnings ESP of +0.54% and is a #3 Ranked player at present.
SJW Group (SJW - Free Report) is set to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank of 3 at present.
Zacks’ 2020 Election Stock Report:
In addition to the companies you learned about above, we invite you to learn more about profiting from the upcoming presidential election. Trillions of dollars will shift into new market sectors after the votes are tallied, and investors could see significant gains. This report reveals specific stocks that could soar: 6 if Trump wins, 6 if Biden wins.
Check out the 2020 Election Stock Report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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