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Eversource (ES) to Report Q2 Earnings: What's in the Cards?
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Eversource Energy (ES - Free Report) is slated to release second-quarter 2020 financial results on Jul 31. The utility delivered an average earnings surprise of 0.8% in the last four reported quarters.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Eversource’s second-quarter earnings are expected to have benefited from regulatory commission-approved distribution revenue decoupling mechanisms. However, a moratorium on disconnections of residential and commercial customers for non-payment of utility service might have offset some of the above positives.
Nearly 52% of its revenues are generated from residential customers. Stay-at-home orders to prevent the novel coronavirus spread increased demand from this customer class during the second quarter. Higher demand from the residential class is likely to have offset the decline in demand from the industrial and commercial space in the quarter.
Expectation
The Zacks Consensus Estimate for second-quarter revenues and earnings per share is pegged at $2.04 billion and 76 cents, indicating 8.38% and 2.7% growth, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict 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. That is not the case here as you will see below.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eversource currently carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
CenterPoint Energy, Inc. (CNP - Free Report) is slated to release second-quarter 2020 results on Aug 6. It has an Earnings ESP of +7.87% and a Zacks Rank #3.
Pinnacle West Capital Corporation (PNW - Free Report) is slated to release second-quarter 2020 results on Aug 6. It has an Earnings ESP of +5.07% and a Zacks Rank #3.
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Eversource (ES) to Report Q2 Earnings: What's in the Cards?
Eversource Energy (ES - Free Report) is slated to release second-quarter 2020 financial results on Jul 31. The utility delivered an average earnings surprise of 0.8% in the last four reported quarters.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Eversource’s second-quarter earnings are expected to have benefited from regulatory commission-approved distribution revenue decoupling mechanisms. However, a moratorium on disconnections of residential and commercial customers for non-payment of utility service might have offset some of the above positives.
Nearly 52% of its revenues are generated from residential customers. Stay-at-home orders to prevent the novel coronavirus spread increased demand from this customer class during the second quarter. Higher demand from the residential class is likely to have offset the decline in demand from the industrial and commercial space in the quarter.
Expectation
The Zacks Consensus Estimate for second-quarter revenues and earnings per share is pegged at $2.04 billion and 76 cents, indicating 8.38% and 2.7% growth, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict 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. That is not the case here as you will see below.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
Earnings ESP: Its Earnings ESP is -1.58%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eversource currently carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
WEC Energy Group (WEC - Free Report) is slated to release second-quarter 2020 results on Aug 4. It has an Earnings ESP of +0.96% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CenterPoint Energy, Inc. (CNP - Free Report) is slated to release second-quarter 2020 results on Aug 6. It has an Earnings ESP of +7.87% and a Zacks Rank #3.
Pinnacle West Capital Corporation (PNW - Free Report) is slated to release second-quarter 2020 results on Aug 6. It has an Earnings ESP of +5.07% and a Zacks Rank #3.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained an impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>