Evergy Inc. (EVRG - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, before market open. The company delivered an earnings surprise of 2.53% in the last reported quarter.
Factors to Consider
EVRG’s third-quarter revenues are expected to have benefited from improved regional rate competitiveness and new loads as a result of reshoring. The ongoing cost-saving initiatives are likely to have lowered operating and maintenance expenses. Our model predicts operating and maintenance expenses of $218.7 million, down 17.9% from the year-ago quarter’s reported figure.
However, severe storms hit some areas served by Evergy. This might have resulted in outages for the customers, thereby reducing its electricity demand and, in turn, its quarterly top line. This, along with higher interest expenses, is likely to have adversely impacted its bottom-line performance.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.77 per share, indicating a year-over-year decrease of 11.9%.
The Zacks Consensus Estimate for revenues is pinned at $1.63 billion, implying a year-over-year decline of 14.6%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy 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 not the case here.
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Evergy Inc. (EVRG - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, before market open. The company delivered an earnings surprise of 2.53% in the last reported quarter.
Factors to Consider
EVRG’s third-quarter revenues are expected to have benefited from improved regional rate competitiveness and new loads as a result of reshoring. The ongoing cost-saving initiatives are likely to have lowered operating and maintenance expenses. Our model predicts operating and maintenance expenses of $218.7 million, down 17.9% from the year-ago quarter’s reported figure.
However, severe storms hit some areas served by Evergy. This might have resulted in outages for the customers, thereby reducing its electricity demand and, in turn, its quarterly top line. This, along with higher interest expenses, is likely to have adversely impacted its bottom-line performance.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.77 per share, indicating a year-over-year decrease of 11.9%.
The Zacks Consensus Estimate for revenues is pinned at $1.63 billion, implying a year-over-year decline of 14.6%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy 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 not the case here.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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