Eversource Energy (ES - Free Report) is scheduled to release first-quarter 2023 results on May 3, after market close. The company delivered a negative earnings surprise of 2.13% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Eversource Energy’s results are expected to benefit from new rates that became effective during the last quarter of 2022. The company is also expected to have gained from higher transmission capital investments and potential increase in equity investment valuation.
However, higher depreciation and interest expenses might have offset some of the positives.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.36 per share, indicating a year-over-year increase of 4.62%.
The same for revenues is pinned at $3.71 billion, implying a year-over-year improvement of 7%.
What Our Quantitative Model Predicts
Our proven model conclusively predicts an earnings beat for Eversource this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is +0.49%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Eversource Energy carries a Zacks Rank #3.
Other Stocks to Consider
Here are a few other players from the same sector that too have the right combination of elements to come up with an earnings beat this reporting cycle.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
PPL’s long-term (three to five years) earnings growth rate is pegged at 7.42%. The bottom-line estimate for PPL stands at 42 cents, indicating a year-over-year improvement of 2.44%.
Northwest Natural (NWN - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +5.46% and a Zacks Rank #3 at present.
NWN’s long-term earnings growth rate is pegged at 3.7%. The bottom-line estimate for NWN is pinned at $1.93 per share, indicating a year-over-year increase of 7.22%.
Brookfield Renewable Partners (BEP - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.
The bottom-line estimate for BEP is pinned at a loss of 13 cents per unit, implying a year-over-year improvement of 18.75%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Eversource Energy (ES - Free Report) is scheduled to release first-quarter 2023 results on May 3, after market close. The company delivered a negative earnings surprise of 2.13% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Eversource Energy’s results are expected to benefit from new rates that became effective during the last quarter of 2022. The company is also expected to have gained from higher transmission capital investments and potential increase in equity investment valuation.
However, higher depreciation and interest expenses might have offset some of the positives.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.36 per share, indicating a year-over-year increase of 4.62%.
The same for revenues is pinned at $3.71 billion, implying a year-over-year improvement of 7%.
What Our Quantitative Model Predicts
Our proven model conclusively predicts an earnings beat for Eversource this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is +0.49%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Eversource Energy carries a Zacks Rank #3.
Other Stocks to Consider
Here are a few other players from the same sector that too have the right combination of elements to come up with an earnings beat this reporting cycle.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
PPL’s long-term (three to five years) earnings growth rate is pegged at 7.42%. The bottom-line estimate for PPL stands at 42 cents, indicating a year-over-year improvement of 2.44%.
Northwest Natural (NWN - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +5.46% and a Zacks Rank #3 at present.
NWN’s long-term earnings growth rate is pegged at 3.7%. The bottom-line estimate for NWN is pinned at $1.93 per share, indicating a year-over-year increase of 7.22%.
Brookfield Renewable Partners (BEP - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.
The bottom-line estimate for BEP is pinned at a loss of 13 cents per unit, implying a year-over-year improvement of 18.75%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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