NRG Energy, Inc. (NRG - Free Report) is scheduled to release first-quarter 2023 results on May 4, before market open. NRG delivered an earnings surprise in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
NRG Energy’s first-quarter earnings are likely to have benefited from healthy consumer trends, supportive of home essential services. The healthy market condition is also expected to have supported the company's performance.
NRG Energy’s first-quarter earnings are also likely to have gained from its debt reduction initiatives and ongoing share repurchases, which have reduced its outstanding shares.
NRG’s first-quarter earnings are likely to have benefited from the recurring synergies from Direct Energy Integration.
Expectations
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 90 cents, indicating 260% growth from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $8.11 billion, indicating 2.66% growth from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NRG Energy this time. 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 not the case here as you will see below.
Earnings ESP: NRG Energy has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NRG carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to beat earnings in this reporting cycle.
Edison International (EIX - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 2. It has an Earnings ESP of +0.24% and a Zacks Rank #3 at present.
EIX’s long-term (three- to five-year) earnings growth rate is pegged at 2.92%. The Zacks Consensus Estimate for EIX’s 2023 earnings is pinned at $4.74 per share, indicating year-over-year growth of 2.6%.
Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ES’ long-term earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $4.36 per share, indicating a year-over-year increase of 6.6%.
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 2023 bottom-line estimate for BEP is pegged at a loss of 3 cents per unit, implying year-over-year growth of 95%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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NRG Energy, Inc. (NRG - Free Report) is scheduled to release first-quarter 2023 results on May 4, before market open. NRG delivered an earnings surprise in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
NRG Energy’s first-quarter earnings are likely to have benefited from healthy consumer trends, supportive of home essential services. The healthy market condition is also expected to have supported the company's performance.
NRG Energy’s first-quarter earnings are also likely to have gained from its debt reduction initiatives and ongoing share repurchases, which have reduced its outstanding shares.
NRG’s first-quarter earnings are likely to have benefited from the recurring synergies from Direct Energy Integration.
Expectations
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 90 cents, indicating 260% growth from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $8.11 billion, indicating 2.66% growth from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NRG Energy this time. 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 not the case here as you will see below.
Earnings ESP: NRG Energy has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NRG carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to beat earnings in this reporting cycle.
Edison International (EIX - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 2. It has an Earnings ESP of +0.24% and a Zacks Rank #3 at present.
EIX’s long-term (three- to five-year) earnings growth rate is pegged at 2.92%. The Zacks Consensus Estimate for EIX’s 2023 earnings is pinned at $4.74 per share, indicating year-over-year growth of 2.6%.
Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ES’ long-term earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $4.36 per share, indicating a year-over-year increase of 6.6%.
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 2023 bottom-line estimate for BEP is pegged at a loss of 3 cents per unit, implying year-over-year growth of 95%.
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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