CenterPoint Energy (CNP - Free Report) is scheduled to release third-quarter 2019 results on Nov 7, before the opening bell. In the last reported quarter, the company delivered a positive earnings surprise of 12.9%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
During the third quarter, CenterPoint Energy’s service territories experienced warmer-than-normal weather. This is likely to have increased household expenditure on cooling, which, in turn, might have positively impacted the company’s third-quarter revenues.
Moreover, the company is consistently adding customers to its network since the last few quarters. The trend is likely to have continued in the to-be-reported quarter, which is expected to have boosted the company’s top line. The Zacks Consensus Estimate for third-quarter revenues is pegged at $2.9 billion, which indicates a surge of 31% from the year-ago quarter’s reported figure.
During August, CenterPoint Energy closed $1.2-billion offering of senior notes that is expected to have lowered its interest expenses in the to-be-reported quarter. Moreover, the company is witnessing lower operating expenses for the last two years. This is likely to have contributed to the bottom line in the third quarter.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 43 cents per share, which indicates a rise of 10.3% from the year-ago quarter’s level.
Earnings Whispers
Our proven model predicts an earnings beat for CenterPoint Energy this earnings season. 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.
Earnings ESP: The company’s Earnings ESP is +0.12%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CenterPoint Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
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CenterPoint Energy (CNP - Free Report) is scheduled to release third-quarter 2019 results on Nov 7, before the opening bell. In the last reported quarter, the company delivered a positive earnings surprise of 12.9%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
During the third quarter, CenterPoint Energy’s service territories experienced warmer-than-normal weather. This is likely to have increased household expenditure on cooling, which, in turn, might have positively impacted the company’s third-quarter revenues.
Moreover, the company is consistently adding customers to its network since the last few quarters. The trend is likely to have continued in the to-be-reported quarter, which is expected to have boosted the company’s top line. The Zacks Consensus Estimate for third-quarter revenues is pegged at $2.9 billion, which indicates a surge of 31% from the year-ago quarter’s reported figure.
During August, CenterPoint Energy closed $1.2-billion offering of senior notes that is expected to have lowered its interest expenses in the to-be-reported quarter. Moreover, the company is witnessing lower operating expenses for the last two years. This is likely to have contributed to the bottom line in the third quarter.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 43 cents per share, which indicates a rise of 10.3% from the year-ago quarter’s level.
Earnings Whispers
Our proven model predicts an earnings beat for CenterPoint Energy this earnings season. 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.
Earnings ESP: The company’s Earnings ESP is +0.12%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CenterPoint Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
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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