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NextEra Energy (NEE) to Report Q3 Earnings: What's in Store?

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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release third-quarter 2020 results on Oct 21, before the market opens. This utility delivered an earnings surprise of 4.4% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Note

Smart investment programs and low-cost renewable assets will likely have a positive impact on third-quarter results. Even amid the novel coronavirus pandemic, NextEra Energy’s businesses — which have excellent growth prospects — have been performing well, which are likely to boost third-quarter results and drive performance over the long run.

With the opening of the economy during second quarter-end, demand for electricity from commercial and industrial groups is expected to have increased during the third quarter. The ongoing increase in residential customer volumes is likely to have impacted residential demand.

Expectations

The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at $2.76 per share and $5.59 billion, respectively. The projected revenues and earnings indicate an improvement of 15.48%, and 0.39%, 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 +1.36%. 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.

NextEra Energy, Inc. Price and EPS Surprise

NextEra Energy, Inc. Price and EPS Surprise

NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote

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 third-quarter 2020 results on Oct 27. It has an Earnings ESP of +9.04% and a Zacks Rank #3.

CMS Energy (CMS - Free Report) is set to release third-quarter 2020 results on Oct 29. It has an Earnings ESP of +0.47% and a Zacks Rank #2.

Dominion Energy (D - Free Report) is set to release third-quarter 2020 results on Nov 5. It has an Earnings ESP of +2.79% and a Zacks Rank #3.

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