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What's in Store for NextEra Energy's (NEE) Q2 Earnings?
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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release second-quarter 2020 results on Jul 24, before the market opens. This utility delivered an earnings surprise of 7.7% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
Even amid the novel coronavirus, the company fulfilled its commitment to users in the second quarter by efficiently operating the generation fleet, and made full utilization of Transmission & Distribution systems.
Although lockdown and social distancing norms created challenges in the second quarter, the company continued with construction projects within budget.
Defying a pretty tough second quarter, it is expected to have benefited from higher residential demand as millions of Americans stayed at home to follow social distancing guidelines. However, drop in demand from commercial and industrial groups might have offset some of its gain from the residential group.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at $2.50 per share and $5.27 billion, respectively. The projected revenues and earnings indicate an improvement of 6.03%, and 6.38%, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is +1.40%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can also consider the following players from the same industry that too have the right combination of elements to post an earnings beat in the to-be-reported quarter.
DTE Energy (DTE - Free Report) is set to release second-quarter 2020 results on Jul 28. It has an Earnings ESP of +6.03% and a Zacks Rank #3.
CMS Energy (CMS - Free Report) is set to release second-quarter 2020 results on Aug 3. It has an Earnings ESP of +11.80% and a Zacks Rank #3.
Duke Energy (DUK - Free Report) is set to release second-quarter 2020 results on Aug 10. It has an Earnings ESP of +0.39% and a Zacks Rank #3.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
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What's in Store for NextEra Energy's (NEE) Q2 Earnings?
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release second-quarter 2020 results on Jul 24, before the market opens. This utility delivered an earnings surprise of 7.7% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
Even amid the novel coronavirus, the company fulfilled its commitment to users in the second quarter by efficiently operating the generation fleet, and made full utilization of Transmission & Distribution systems.
Although lockdown and social distancing norms created challenges in the second quarter, the company continued with construction projects within budget.
Defying a pretty tough second quarter, it is expected to have benefited from higher residential demand as millions of Americans stayed at home to follow social distancing guidelines. However, drop in demand from commercial and industrial groups might have offset some of its gain from the residential group.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at $2.50 per share and $5.27 billion, respectively. The projected revenues and earnings indicate an improvement of 6.03%, and 6.38%, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is the case here as you will see below.
NextEra Energy, Inc. Price and EPS Surprise
NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote
Earnings ESP: The company’s Earnings ESP is +1.40%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Investors can also consider the following players from the same industry that too have the right combination of elements to post an earnings beat in the to-be-reported quarter.
DTE Energy (DTE - Free Report) is set to release second-quarter 2020 results on Jul 28. It has an Earnings ESP of +6.03% and a Zacks Rank #3.
CMS Energy (CMS - Free Report) is set to release second-quarter 2020 results on Aug 3. It has an Earnings ESP of +11.80% and a Zacks Rank #3.
Duke Energy (DUK - Free Report) is set to release second-quarter 2020 results on Aug 10. It has an Earnings ESP of +0.39% and a Zacks Rank #3.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>